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There's not much I DO agree with the bog-eyed Scot
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<blockquote data-quote="Sheikh Yerbouti" data-source="post: 718236" data-attributes="member: 9093"><p>Do you really think I’m trying to say that the current economic problems only apply to the U.K. </p><p>Good grief. </p><p>Everybody knows the current problems started when the bottom dropped out of the U.S. subprime lending market…</p><p>Of course Gordon Brown is not personally to blame for that, I never said he was.</p><p>But, Labour policies of blindly and unquestioningly supporting the U.S. on things like Iraq (over and above the U.N, and against the wishes of the people), have meant that the rest of the world now views us as America’s European bitch.</p><p>Consequently when the U.S. economy nosedives, it affects the U.K. far worse than any other country.</p><p>That’s why we are in such a state at the moment compared to the rest of Europe.</p><p></p><p>Of course when the American market struggles the effects are felt globally, that stands to reason.</p><p>But no other country is feeling it anything like as badly as we are.</p><p></p><p>There’s nothing incorrect there mate. It’s pure cause & effect.</p><p></p><p></p><p>OK Yes he inherited a strong economy, we’ve already covered that one.</p><p>I doubt very much he’ll leave it in as good a state as he found it.</p><p>As for “everything being so good” and “why Labour got voted in in the first place” I think that’s going a bit off topic to be honest lol </p><p>I certainly never said “everything was so good” under the tories lol… </p><p>Labour got in because of a lot of spin, and also because of a lot of Tory “sleaze” scandals</p><p>(you might remember they promised they’d be whiter than white… yeah right)</p><p>They also got in on the back of a lot of false promises (which they’re not stuck to) about improving public services… </p><p>The money has bene spent, but do any of us really think the services have improved?</p><p>That’s why they got voted in, not that it’s relevant to this thread.</p><p></p><p>Bit off topic again I think, but I don’t think the economy is particularly stable at the moment, do you? Also, allowing the BOE to set interest rates just means the government can wash their hands of bad policy & point the finger when the economy hits trouble. Which is exactly what they are doing.</p><p></p><p></p><p>You’re making the assumption that those things have been “good”, which is debatable, and also nothing to do with the thread topic.</p><p></p><p></p><p>I won’t deny ppl were sick of the Tories, but hardly gone to the dogs. The economy was the strongest it had been for decades. Hardly gone to the dogs lol</p><p></p><p></p><p>Oh dear. Firstly I actually said “the effects of economic changes”… ie a tax hike here, and interest rate change there… budgetary tweaks… these things first need to bite, then people reassess their spending habits and the effect on the economy is felt. It takes a long time for that cycle to complete, and even longer for the effects to be noticed.</p><p>That’s totally different from external market events like the U.S. subprime crash which triggered the “credit crunch”. The two are completely different things. Events like that can happen suddenly, at any time, and nobody knows how far reaching or long lasting the effects will be.</p><p>One thing’s for sure though, in a high tax, high borrowing, high debt economy when events like that happen on the markets abroad it puts you in a very poor position to limit damage.</p><p></p><p></p><p>You’re saying if the price of something increases, the rate at which it’s taxed should increase also?!? :|</p><p>Thank god you’re not the chancellor LOL</p><p></p><p></p><p>I thought he had just “deferred” one of the planned tax rises. Not the same as cancelling it, but he certainly should cancel it. Trouble is that would be a U-Turn, and prime ministers tend to try & avoid making those.</p><p>I’d suggest he only deferred the tax increase in the face of massive public unrest, and Labour freefalling in all the opinion polls.</p><p></p><p></p><p>There were offers from the private sector on the table which could have saved Northern Rock at zero risk to the taxpayer.</p><p></p><p></p><p>LOL The Iraq war cost billions and was funded by the treasury. As chancellor, Gordon Brown was the head of the treasury, and so he was the man who had to find the money. OF COURSE the war is related to the economy & Brown’s time as chancellor lol.</p><p></p><p></p><p>Total speculation. Did you get that from your crystal ball, or from the tea leaves?</p></blockquote><p></p>
[QUOTE="Sheikh Yerbouti, post: 718236, member: 9093"] Do you really think I’m trying to say that the current economic problems only apply to the U.K. Good grief. Everybody knows the current problems started when the bottom dropped out of the U.S. subprime lending market… Of course Gordon Brown is not personally to blame for that, I never said he was. But, Labour policies of blindly and unquestioningly supporting the U.S. on things like Iraq (over and above the U.N, and against the wishes of the people), have meant that the rest of the world now views us as America’s European bitch. Consequently when the U.S. economy nosedives, it affects the U.K. far worse than any other country. That’s why we are in such a state at the moment compared to the rest of Europe. Of course when the American market struggles the effects are felt globally, that stands to reason. But no other country is feeling it anything like as badly as we are. There’s nothing incorrect there mate. It’s pure cause & effect. OK Yes he inherited a strong economy, we’ve already covered that one. I doubt very much he’ll leave it in as good a state as he found it. As for “everything being so good” and “why Labour got voted in in the first place” I think that’s going a bit off topic to be honest lol I certainly never said “everything was so good” under the tories lol… Labour got in because of a lot of spin, and also because of a lot of Tory “sleaze” scandals (you might remember they promised they’d be whiter than white… yeah right) They also got in on the back of a lot of false promises (which they’re not stuck to) about improving public services… The money has bene spent, but do any of us really think the services have improved? That’s why they got voted in, not that it’s relevant to this thread. Bit off topic again I think, but I don’t think the economy is particularly stable at the moment, do you? Also, allowing the BOE to set interest rates just means the government can wash their hands of bad policy & point the finger when the economy hits trouble. Which is exactly what they are doing. You’re making the assumption that those things have been “good”, which is debatable, and also nothing to do with the thread topic. I won’t deny ppl were sick of the Tories, but hardly gone to the dogs. The economy was the strongest it had been for decades. Hardly gone to the dogs lol Oh dear. Firstly I actually said “the effects of economic changes”… ie a tax hike here, and interest rate change there… budgetary tweaks… these things first need to bite, then people reassess their spending habits and the effect on the economy is felt. It takes a long time for that cycle to complete, and even longer for the effects to be noticed. That’s totally different from external market events like the U.S. subprime crash which triggered the “credit crunch”. The two are completely different things. Events like that can happen suddenly, at any time, and nobody knows how far reaching or long lasting the effects will be. One thing’s for sure though, in a high tax, high borrowing, high debt economy when events like that happen on the markets abroad it puts you in a very poor position to limit damage. You’re saying if the price of something increases, the rate at which it’s taxed should increase also?!? :| Thank god you’re not the chancellor LOL I thought he had just “deferred” one of the planned tax rises. Not the same as cancelling it, but he certainly should cancel it. Trouble is that would be a U-Turn, and prime ministers tend to try & avoid making those. I’d suggest he only deferred the tax increase in the face of massive public unrest, and Labour freefalling in all the opinion polls. There were offers from the private sector on the table which could have saved Northern Rock at zero risk to the taxpayer. LOL The Iraq war cost billions and was funded by the treasury. As chancellor, Gordon Brown was the head of the treasury, and so he was the man who had to find the money. OF COURSE the war is related to the economy & Brown’s time as chancellor lol. Total speculation. Did you get that from your crystal ball, or from the tea leaves? [/QUOTE]
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