UK Recession: Gordon Brown admits he failed to see economic crisis coming

Pilky01 said:
Brown and Darling are idiots.
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Can't say it more simply than that. It's exactly how I feel.

I'm waiting for the pound to go so low that people start talking of joining the Euro. It's a bit of a tin-foil hat thing but i really think it could happen, especially with these two morons at the helm.
 
Brown was just following the political thinking of the time - like pretty much every mainstream leader of a country. If he'd have started regulating banks (as we should have done) then people would have accused him of creating "red tape Britain" and pointed out that private companies are much better at regulating themselves than governments could ever be. I hope we all see the folly in that point of view now.

Britain isn't alone in going into recession, blaming Brown for what is essentially a global crisis is frankly retarded. IMO this whole mess started with the Reagan and Thatcher eras with massive deregulation of industries, continued with Clinton and Blair (repeal of the Glass-Steagal act anyone?). Bush and Brown are unlucky that it has happened on their watch, Bush actually came out with some decent regulatory policies following the Enron scandal - but it wasn't enough, what would have been enough wouldn't have been tolerated.

Oh and let's remember what the Conservative answer to this crisis is - increase unemployment by cutting public spending and do nothing.
 
Brown is a cretin, he has always been a cretin, he will always be a cretin.
From upping tax on everything year on year to fund pointless public sector jobs at the expense of real industry, he built an economy based on..............nothing, we provide and build nothing.

So looking at at like that, the man is a genius, for 10 years he managed to convince almost everyone a country could have an economy without a manufacturing base and still be a success.
 
atpbx said:
Brown is a cretin, he has always been a cretin, he will always be a cretin.
From upping tax on everything year on year to fund pointless public sector jobs at the expense of real industry, he built an economy based on..............nothing, we provide and build nothing.

So looking at at like that, the man is a genius, for 10 years he managed to convince almost everyone a country could have an economy without a manufacturing base and still be a success.
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But apparently, we do have a large manufacturing base.

I.e. we still export a lot of products.
 
scorza said:
Oh and let's remember what the Conservative answer to this crisis is - increase unemployment by cutting public spending and do nothing.
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So that companies and individuals pay less tax, have more money, therefore being able to buy more, to build more and to create real jobs that go on to great real money and real tangible products that need people in real jobs to make them, who then go on to spend that money on products and services..........

Its called an economy, something we dont have anymore thanks to Gordon.
 
Chimerical said:
But apparently, we do have a large manufacturing base.

I.e. we still export a lot of products.
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Yeah, that right:

http://www.adamprice.org.uk/press/releases/2005-04-08-w.shtml
http://www.gmb.org.uk/Templates/Internal.asp?NodeID=91261
http://www.independent.co.uk/news/b...nufacturing-slips-into-.htmlssion-664933.html
http://www.socialistworker.co.uk/archive/1694/sw169402.htm

And thousands of more pages written about labours decimation of the UK manufacturing base.
 
atpbx said:
So that companies and individuals pay less tax, have more money, therefore being able to buy more, to build more and to create real jobs that go on to great real money and real tangible products that need people in real jobs to make them, who then go on to spend that money on products and services..........

Its called an economy, something we dont have anymore thanks to Gordon.
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Overreaction much?

2 people taking home 60% of their gross salary will put more into the economy than 1 person taking home 80% of their gross salary.
 
atpbx said:
Yeah, that right:

http://www.adamprice.org.uk/press/releases/2005-04-08-w.shtml
http://www.gmb.org.uk/Templates/Internal.asp?NodeID=91261
http://www.independent.co.uk/news/b...nufacturing-slips-into-.htmlssion-664933.html
http://www.socialistworker.co.uk/archive/1694/sw169402.htm

And thousands of more pages written about labours decimation of the UK manufacturing base.
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Dunno, I remember a post on these forums listing a load of stuff that we still manufacture. Can't find it though.

Just because its not BMWs and Hondas doesn't mean it doesn't exist.
 
I honestly don't care if my kids turn out gay or if they suddenly go ginger. But if they ever vote labour then I'll disown them!
 
scorza said:
Overreaction much?

2 people taking home 60% of their gross salary will put more into the economy than 1 person taking home 80% of their gross salary.
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Two people taking 60% of the salary home from private sector jobs is a million times better than two people taking it home from government jobs.
Thats the point, yeah great, 1 in 4 people employed in the uk work for the goverment, brilliant.
So thats great for the economy..............how?
 
Remember Brown was chancellor through the Blair years.
In that time he nobbles the pension funds, he nobbles the energy companies from exploring for new energy fields ( the reason why we are now a net importer of gas ), he sells our gold reserves for record low in gold prices.
His only master stroke was giving control of interest rates to the Bank of England to control inflation, and now he is meddling in that too..
Personally, i am weathering the current downturn fairly well, but i feel for those who have been let down by some very poor decisions.... mainly the elderly.
BTW... only my personal opinion and by no means meant to cause offense.
 
atpbx said:
So looking at at like that, the man is a genius, for 10 years he managed to convince almost everyone a country could have an economy without a manufacturing base and still be a success.
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The only person he managed to convince was himself, unfortunately that was all it took.
 
I love how Labour supporters still blame Thatcher for everything, 20 years later and after 12 years of Labour rule everything is still her fault. :D
 
You obviously don't "get it" Scorza.

First of all we expect our leader to lead, not what you call "following the political thinking of the time". That has to be the most ridiculous excuse I have heard for his incompetence! Secondly, there have been enormous amounts of red tape burdened on the UK under Labour, the term "nanny state" is testament to that. Now consider what you wrote about the deregulation under Thatcher, let's assume for one minute you're right (and I don't think you are with regards to banks;)) where's the regulation from Labour to fix that?

But the bit I love is your attack on the Tories. So you'd have the tax payer give the banks billions and billions in a failed attempt to increase liquidity, which they then don't lend out. You'd tell people that you'll take the toxic debt out of play but don't. All of this is what Brown has done recently. Meanwhile you want people to spend? As savings are at their lowest levels for years and personal debt is at its highest, where will this money come from? The Banks?

Not to mention that thousands fear losing their jobs and are quite rightly saving to see themselves through any potential hard times. But, you'd have them spend? Where exactly are the guarantees that such a proposal would work? I'll save you some time, there aren't any. You could have course place your faith in the government.... You know what? I find that very difficult to take seriously!;)
 
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