Gordon Brown, steady hand on the tiller?
Discuss issues related to the politics of the UK, such as the actions of any MP, any current or potential law, or any other factor affecting the British political system.
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Gordon Brown, steady hand on the tiller?There's no doubt that Brown presided over a good economic time for this country. There's also some well known blunders he made like selling the gold reserve for a fraction of its value, and underselling that military r&d organization that ended up making its french buyer loads of money just from the patents alone. I also wonder though, how much of Brown's success as a chancellor was more down to chance than any skill or knowledge on his part. Maybe any government would have rode the wave at that time, be it conservative or labour. I wonder how much effect they actually have have on an national scale, or whether they are just a victim more of circumstance?
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Re: Gordon Brown, steady hand on the tiller?I doubt it. During Brown's tenure our town saw the closure of a number of businesses, and community funds dried up. Unemployment also arose steadily.(Original post by perfectsymbology)
There's no doubt that Brown presided over a good economic time for this country. There's also some well known blunders he made like selling the gold reserve for a fraction of its value, and underselling that military r&d organization that ended up making its french buyer loads of money just from the patents alone. I also wonder though, how much of Brown's success as a chancellor was more down to chance than any skill or knowledge on his part. Maybe any government would have rode the wave at that time, be it conservative or labour. I wonder how much effect they actually have have on an national scale, or whether they are just a victim more of circumstance?
The notion that gold has any value at all is a superstition; they might as well have left it in the ground. -
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Re: Gordon Brown, steady hand on the tiller?Gold does have real uses in industry though, unlike paper or virtual money.(Original post by Martyn*)
The notion that gold has any value at all is a superstition; they might as well have left it in the ground.Last edited by perfectsymbology; 29-06-2012 at 10:23. -
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Re: Gordon Brown, steady hand on the tiller?This is true: its laughable the number of people who complain about a "fiat currency" backed only by the government, and then suggest gold as an alternative measure.(Original post by Martyn*)
The notion that gold has any value at all is a superstition; they might as well have left it in the ground.
What's the real source of value - the collective actions of a nation, or a funny coloured rock?
Its one of those things where as soon as everyone realises its just superstition, the value of gold will fall into line with that of any other lump of metal. -
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Re: Gordon Brown, steady hand on the tiller?I thought Brown sold the gold reserves for their market value at the time, and people's issue is that the price of gold rose since, which if they are going to make an argument on the basis of a failure to predict future market prices, why aren't they outraged that Brown didn't put all the UK's money into Apple shares?(Original post by perfectsymbology)
There's no doubt that Brown presided over a good economic time for this country. There's also some well known blunders he made like selling the gold reserve for a fraction of its value, and underselling that military r&d organization that ended up making its french buyer loads of money just from the patents alone. I also wonder though, how much of Brown's success as a chancellor was more down to chance than any skill or knowledge on his part. Maybe any government would have rode the wave at that time, be it conservative or labour. I wonder how much effect they actually have have on an national scale, or whether they are just a victim more of circumstance?
As Chancellor, Brown wasn't perfect, however we have a lot to thank him for; against Blair's wishes, he kept us from adopting the euro, as it didn't fit his criteria, he implemented the 'golden rule' and 'sustainable investment rule' , and under Blair, UK government debt fell from almost 50% of GDP under the Tories, to 37% in 2003 (it then rose, I think due to lots of war spending), to 45% in 2007.
As PM, Brown was the first to inject liquidity into the Banking system to stop it from collapsing, which was then copied elsewhere around the world, which really did save the financial system and the millions of ordinary people with Bank accounts and who rely on banks etc. He implemented a stimulus that significantly softened the impact of recession, and was a key figure in the G20's plans too. The Tories opposed everything he did, and argued that cuts in the midst of the crises were necessary, and as a consequence, things would have been much, much worse.
To answer your question, Brown's policies, particularly when he was PM not only had a significant effect on a national scale, but on a global scale; When Brown said he saved the world, he was telling the truth. -
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Re: Gordon Brown, steady hand on the tiller?The value is gold isn't based on superstition; it is used for industrial and decorative purposes. It is more expensive than structural metals only because it is rarer, and it is not the most expensive metal.(Original post by py0alb)
This is true: its laughable the number of people who complain about a "fiat currency" backed only by the government, and then suggest gold as an alternative measure.
What's the real source of value - the collective actions of a nation, or a funny coloured rock?
Its one of those things where as soon as everyone realises its just superstition, the value of gold will fall into line with that of any other lump of metal.
Fiat currency is based on legal compulsion; remove that and the value really does drop to ~0.
