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Gordon Brown's Recession?...lol?
http://www.independent.co.uk/news/uk/politics/tories-take-ninepoint-poll-lead-as-recession-catches-up-with-brown-1418925.html
Is the british general public absolutely retarded? I find it repulsive that people would actually buy into the idea that Gordon Brown is in anyway to blame for the banking crisis...
Thoughts?
Is the british general public absolutely retarded? I find it repulsive that people would actually buy into the idea that Gordon Brown is in anyway to blame for the banking crisis...
Thoughts?
Scroll to see replies
people believe the media and what it says, and that the tories keeps saying that his to blame, yet they haven't came out with how they would acted
he's an easy person to blame. it's stupid.
He is to blame!!!!
His over-spending during the good years, combined with complete lack of enforcing regulation, along with the making of the BoE independent, have lead to a huge bubble and huge recession. He could have, and should have, seen this coming 3 years ago. There was no way the housing price bubble was sustainable, and the treasury should have asked where all this money was coming from - it was coming from credit cards and banks. His efforts to "plug the gap" have been so far, no only unsuccessful, but also openly mocked by other countries in the EU.
His over-spending during the good years, combined with complete lack of enforcing regulation, along with the making of the BoE independent, have lead to a huge bubble and huge recession. He could have, and should have, seen this coming 3 years ago. There was no way the housing price bubble was sustainable, and the treasury should have asked where all this money was coming from - it was coming from credit cards and banks. His efforts to "plug the gap" have been so far, no only unsuccessful, but also openly mocked by other countries in the EU.
we had no control over the loans and that in the USA
people who believe that gordon brown is responsible for this GLOBAL financial crisis need to watch this:
http://www.labour.org.uk/webcabinet
ps. it is very funny.
http://www.labour.org.uk/webcabinet
ps. it is very funny.
If the Tories actually opposed high levels of borrowing at the time, and if they actually opposed the BoE being made independent in their election campaign, I would be able to take them seriously.
Its completely hypocritical of the Conservatives to blame Labour's policy on regulation and borrowing for the recession, when in fact they weren't proposing or arguing for anything different at the time.
But then again, this seems to be symptomatic of most Conservative policy and argument at the moment: knee-jerk, headline grabbing ideas of ultimately baseless, unprincipled and contradictory stuff.
The only person who actually saw this coming in parliament was Vince Cable, so the Lib Dems can take some credit here.
Its completely hypocritical of the Conservatives to blame Labour's policy on regulation and borrowing for the recession, when in fact they weren't proposing or arguing for anything different at the time.
But then again, this seems to be symptomatic of most Conservative policy and argument at the moment: knee-jerk, headline grabbing ideas of ultimately baseless, unprincipled and contradictory stuff.
The only person who actually saw this coming in parliament was Vince Cable, so the Lib Dems can take some credit here.
Cj-Tj
He is to blame!!!!
His over-spending during the good years, combined with complete lack of enforcing regulation, along with the making of the BoE independent, have lead to a huge bubble and huge recession. He could have, and should have, seen this coming 3 years ago. There was no way the housing price bubble was sustainable, and the treasury should have asked where all this money was coming from - it was coming from credit cards and banks. His efforts to "plug the gap" have been so far, no only unsuccessful, but also openly mocked by other countries in the EU.
His over-spending during the good years, combined with complete lack of enforcing regulation, along with the making of the BoE independent, have lead to a huge bubble and huge recession. He could have, and should have, seen this coming 3 years ago. There was no way the housing price bubble was sustainable, and the treasury should have asked where all this money was coming from - it was coming from credit cards and banks. His efforts to "plug the gap" have been so far, no only unsuccessful, but also openly mocked by other countries in the EU.
I think that's abit harsh to be honest. At the time no one questione the 'over spending', leats of all the conservative party. And Brown has little if any control over the triggar event, proof of this lies in the fact that it's a global recession rather then limited to the UK.
I don't dispute he will have, somewhere down the line have some influence in the severity of the impending recession. It is unlikely that someone of his stature has a spotless record, then again there are few who I would prefer to have at the head of government at this time than Brown. The tori's lets face it, they're taking advantage of the situation, nothing more than political manoeuvres.
Well, Brown was the Chancellor for a decade. He oversaw the consumer based economy that led to the current mess.
Blair has to take blame too, since he was the head of government for the same period. As such, economic policy's buck stops with him for that reason.
Blair has to take blame too, since he was the head of government for the same period. As such, economic policy's buck stops with him for that reason.
As has been said in another recent thread, I don't think anyone's legitimately saying he's responsible for the global recession - what they are saying is that there are a number of steps that he could have taken that would have severely helped us not be affected so bad - and not just things that require future-reading goggles, either. In the years that he was chancellor, Britain's economy boomed a lot - granted, some of this was due to his artificially low interest rates which are a significant portion of the reason why the banks in the UK are in such a big mess (though of course he has no control over Freddie and Fanny) - but it boomed nontheless. It's a Labour government, so spending was always going to increase, but did he need to employ hundreds of new people a day, being paid from tax payers money? Did he need to repeatedly (80% of his budgets) spend more money than we were getting in tax revenue? Is the country that much better?
You see who comes out of this financial crisis first - us, or the countries cut public spending. The only way we'll come out quicker is if we borrow such a ridiculous amount that it won't matter how soon we come out - we'll crash again almost immediately, and considerably harder.
You see who comes out of this financial crisis first - us, or the countries cut public spending. The only way we'll come out quicker is if we borrow such a ridiculous amount that it won't matter how soon we come out - we'll crash again almost immediately, and considerably harder.
jacketpotato
If the Tories actually opposed high levels of borrowing at the time, and if they actually opposed the BoE being made independent in their election campaign, I would be able to take them seriously.
Its completely hypocritical of the Conservatives to blame Labour's policy on regulation and borrowing for the recession, when in fact they weren't proposing or arguing for anything different at the time.
But then again, this seems to be symptomatic of most Conservative policy and argument at the moment: knee-jerk, headline grabbing ideas of ultimately baseless, unprincipled and contradictory stuff.
The only person who actually saw this coming in parliament was Vince Cable, so the Lib Dems can take some credit here.
Its completely hypocritical of the Conservatives to blame Labour's policy on regulation and borrowing for the recession, when in fact they weren't proposing or arguing for anything different at the time.
But then again, this seems to be symptomatic of most Conservative policy and argument at the moment: knee-jerk, headline grabbing ideas of ultimately baseless, unprincipled and contradictory stuff.
The only person who actually saw this coming in parliament was Vince Cable, so the Lib Dems can take some credit here.
Quite right. Indeed they proposed further loosening of regulation over the mortgage market early last year.
Vince Cable is the finest example of integrity in opposition.
Hypnotic_Me
Is the british general public absolutely retarded? I find it repulsive that people would actually buy into the idea that Gordon Brown is in anyway to blame for the banking crisis...
Of course he is.
robinson999
we had no control over the loans and that in the USA
"These are the excuses that the Chancellor has deployed. First, he claims that the recession has nothing to do with the people who have been running the country's economic policy for the past 10 years. "It's all America's fault," he says. What total nonsense. Was it America that gave Britain the biggest housing boom in the world? No. Was it America that gave Britain the highest levels of personal debt of any country in history? No. Was it America that gave Britain the largest budget deficit in the developed world? No. It was this Labour Government. No American politician said that they had rewritten the laws of economics. No American Treasury Secretary boasted that he had done away with the trade cycle and abolished boom and bust. It was the Prime Minister who said those ludicrous things, over and over again. He mistook a boom for stability and he never prepared Britain for the bust."
- George Osbourne
L i b
Of course he is.
"These are the excuses that the Chancellor has deployed. First, he claims that the recession has nothing to do with the people who have been running the country's economic policy for the past 10 years. "It's all America's fault," he says. What total nonsense. Was it America that gave Britain the biggest housing boom in the world? No. Was it America that gave Britain the highest levels of personal debt of any country in history? No. Was it America that gave Britain the largest budget deficit in the developed world? No. It was this Labour Government. No American politician said that they had rewritten the laws of economics. No American Treasury Secretary boasted that he had done away with the trade cycle and abolished boom and bust. It was the Prime Minister who said those ludicrous things, over and over again. He mistook a boom for stability and he never prepared Britain for the bust."
- George Osbourne
"These are the excuses that the Chancellor has deployed. First, he claims that the recession has nothing to do with the people who have been running the country's economic policy for the past 10 years. "It's all America's fault," he says. What total nonsense. Was it America that gave Britain the biggest housing boom in the world? No. Was it America that gave Britain the highest levels of personal debt of any country in history? No. Was it America that gave Britain the largest budget deficit in the developed world? No. It was this Labour Government. No American politician said that they had rewritten the laws of economics. No American Treasury Secretary boasted that he had done away with the trade cycle and abolished boom and bust. It was the Prime Minister who said those ludicrous things, over and over again. He mistook a boom for stability and he never prepared Britain for the bust."
- George Osbourne
Failing to prepare for something that happened overseas doesn't make it his fault alone. you have convinced me that it's likely he is partly to blame, but aren't banks privet businesses?
If they sell 'bad debt' to each other and then window dress them, that's their own affair.
Is it not more likely, that all those advantages are in actual fact due to the American economic influences in conjunction with our own economic policy? So instead of taking the credit for the good and then blaming the bad on America, it should all be due to America; any view to the contrary can be explained via political manoeuvres in order to gain credit.
I'm having a hard time believing that such an intricate system of economics in America stretching out across to us isn't to blame predominently for the mishaps of our impending recession.
funny how barack obama doesn't seem to think it's gordon brown's fault isn't it...
He sold off most of our gold reserves at the worse possible time in 1997. If he hadn't we would have been able to write off most of this public debt we have now. It angers me that he could be so reckless with our countries finances.
Obviously the world crisis is not Brown's fault, but he hasn't done anything noteworthy and this Labour government has spent more and more of our money accumulating a large amount of debt before this crisis even happened.
Obviously the world crisis is not Brown's fault, but he hasn't done anything noteworthy and this Labour government has spent more and more of our money accumulating a large amount of debt before this crisis even happened.
L i b
Of course he is.
"These are the excuses that the Chancellor has deployed. First, he claims that the recession has nothing to do with the people who have been running the country's economic policy for the past 10 years. "It's all America's fault," he says. What total nonsense. Was it America that gave Britain the biggest housing boom in the world? No. Was it America that gave Britain the highest levels of personal debt of any country in history? No. Was it America that gave Britain the largest budget deficit in the developed world? No. It was this Labour Government. No American politician said that they had rewritten the laws of economics. No American Treasury Secretary boasted that he had done away with the trade cycle and abolished boom and bust. It was the Prime Minister who said those ludicrous things, over and over again. He mistook a boom for stability and he never prepared Britain for the bust."
- George Osbourne
"These are the excuses that the Chancellor has deployed. First, he claims that the recession has nothing to do with the people who have been running the country's economic policy for the past 10 years. "It's all America's fault," he says. What total nonsense. Was it America that gave Britain the biggest housing boom in the world? No. Was it America that gave Britain the highest levels of personal debt of any country in history? No. Was it America that gave Britain the largest budget deficit in the developed world? No. It was this Labour Government. No American politician said that they had rewritten the laws of economics. No American Treasury Secretary boasted that he had done away with the trade cycle and abolished boom and bust. It was the Prime Minister who said those ludicrous things, over and over again. He mistook a boom for stability and he never prepared Britain for the bust."
- George Osbourne
Quoting George Osborne is not the smartest thing to do for obvious reasons.
Hypnotic_Me
Failing to prepare for something that happened overseas doesn't make it his fault alone. you have convinced me that it's likely he is partly to blame, but aren't banks privet businesses?
If they sell 'bad debt' to each other and then window dress them, that's their own affair.
Is it not more likely, that all those advantages are in actual fact due to the American economic influences in conjunction with our own economic policy? So instead of taking the credit for the good and then blaming the bad on America, it should all be due to America; any view to the contrary can be explained via political manoeuvres in order to gain credit.
I'm having a hard time believing that such an intricate system of economics in America stretching out across to us isn't to blame predominently for the mishaps of our impending recession.
If they sell 'bad debt' to each other and then window dress them, that's their own affair.
Is it not more likely, that all those advantages are in actual fact due to the American economic influences in conjunction with our own economic policy? So instead of taking the credit for the good and then blaming the bad on America, it should all be due to America; any view to the contrary can be explained via political manoeuvres in order to gain credit.
I'm having a hard time believing that such an intricate system of economics in America stretching out across to us isn't to blame predominently for the mishaps of our impending recession.
how on earth can a quote from GEORGE OSBOURNE convince you that the recession is gordon's fault? don't you think he's gonna be a wee bit biased? yesterday you thought it was ridiculous that people were saying it's Brown's fault, now you're convinced that it is...i can't understand how someone can be so gullable.
pollystyrene07
how on earth can a quote from GEORGE OSBOURNE convince you that the recession is gordon's fault? don't you think he's gonna be a wee bit biased? yesterday you thought it was ridiculous that people were saying it's Brown's fault, now you're convinced that it is...i can't understand how someone can be so gullable.
Gimme a break, It wasn't completely based on that! No need to personally attack me, I've seen many economic videos and many claim to have known about the flaws in the system for many a year, in his former position and of course in his current, I find it hard to believe he missed it completely.
The banking crisis is quite obviously NOT his fault, but the recession could have be diluted if he had prepared for it more so.
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