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The UK Government; Being blamed for a downturn out of they're control! watch

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    Viewpoint, simply, nothing else! I want to see other peoples opinions on this what i like to call 'fact'! The economic downturn is as a result of a mixture of both exogenous and endogenous factors, the majority being out of not only the UK governments, but also governments worldwides control!

    The financial sector caused it, as well as the housing market; so why do we incessantly blame Gordon Brown??

    Gordon Brown let us through a decade of extreme prosperity, and so, when things go tits up, can we attribute him, probably the most financial apt world leader at this moment in the world, to these problems; I think not!
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    Their control not they're control.
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    For more on these sort of views see my newly started blog; thecomparativeadvantage.wordpres s.com
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    The global downturn wasn't in their control. Racking up high levels of government debt was.
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    Nobody blames the government for starting the economic crisis.

    But we have the right to point the finger at them for not having the country prepared for a crisis that they were warned about countless times by informed professionals.
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    People want a scapegoat - Gordon Brown is like the social unskilled, bullied little kid at school who won't fight back, hence why everyone has successfully lumped their problems onto him.
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    so let me get this right
    The financial sector caused it
    gordon brown is innocent. but....
    Gordon Brown let us through a decade of extreme prosperity can we attribute him to these problems; I think not!
    so when things are going well its "oh brown you are so amazing", when things go wrong its nothing to do with him?
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    the tripartite system failed to stop it (i.e. lack of regulation - inherited from the torys which he should have stopped)

    and thats about his lot.

    most of the rest was caused by the banks and the yanks.
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    Government debt is high, yes I am in agreement! But, it is not unsustainable! Developed nations such as Italy etc. have debts that are over 100% of GDP, and, of course higher taxation etc. in the future will reverse the stock in debt!

    Fiscal stimulus was needed, and, therefore, it was inevitable! The conservatives seemed to sight the fiscal stimulus as wrong! Government spending a one component of AD, increases output (obviously), and if this spending is on beneficial job creating 'stuff', through the multiplier effect this increase will exceed the actual stimulus!

    To fund the stimulus; higher govt. spending!
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    (Original post by 1721)
    so let me get this right

    gordon brown is innocent. but....

    so when things are going well its "oh brown you are so amazing", when things go wrong its nothing to do with him?
    No, it is the fact that during the upturn, it was mechanisms he put into place that led into UK prosperity! This downturn is GLOBAL! The financial sector caused it, and perhaps the economy through the amount of debt within it (personal) was 'overvalued' in terms of output!

    A financial crisis happens, those with unaffordable debts default and output decreases reflecting a 'true' representation, due to only physical output, and sustainable consumer debt being left!

    You won't get what I mean if you haven't studied economics but oh well
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    (Original post by gamer91)
    the tripartite system failed to stop it (i.e. lack of regulation - inherited from the torys which he should have stopped)

    and thats about his lot.

    most of the rest was caused by the banks and the yanks.
    you, good sir, have been ill informed. Booms and busts are natural progressions of capitalism, thats how capitalism survives; it adapts. Look at history for shining examples.

    If anything, Brown can be legitimately criticised for not preparing heartily enough. But he cannot be blamed for anything else.

    As for blaming it on 'yanks and banks', it was more the public borrowing money which they neither had or could afford to pay back.

    besides, you don't get anywhere by sitting around playing the blame game. I'm more interested in solutions rather than blaming.
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    My lord, I've finally found someone else who shares good economic sight!
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    Is it out of they are control?

    Learn how to use grammar and try again. As it stands it is hard to take you seriously.
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    OP is an economic/political amateur.
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    My friend, I made a mistake! Don't dwell on it the point is the important factor! Don't school me, I don't want to embarrass you my friend; get 100% in 5 A Level exams and return and school me about academic prowess
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    (Original post by Stephen L100)
    Don't school me, I don't want to embarrass you my friend; get 100% in 5 A Level exams and return and school me about academic prowess
    Embarrass him? You've already embarrassed yourself.

    Your academic achievements are unimpressive, considering the fact that a lot of people on here have a minimum of 3 As in subjects which are less Mickey Mouse than yours. So, I would suggest that you don't spout such unwarranted arrogance.
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    (Original post by Stephen L100)
    The financial sector caused it, as well as the housing market; so why do we incessantly blame Gordon Brown??
    This is where you start to go wrong; I'd suggest reading this to remedy it.
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    My friend, 297/300 is not mickey mouse! 100% in 5 exams in not mickey mouse my friend! Economics is not mickey mouse, neither is Psychology nor Business; in fact I also do AS Maths which i certainly have an A in, Music Tech which I had a distinction in, but, I feel not to put such a 'mickey mouse' Music Tech qualification on here! What subjects do you do and what did you get in them? What university do you/are you going to? I do not come on here to compete nor to boast! I come on here to blog and talk about subjects I am passionate about, yet, regularly, a wise-guy will decide to make an unneeded comment! People need to grow up and learn that insulting others doesn't get you anywhere! Why are you involved anyway my friend?
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    (Original post by DrunkHamster)
    This is where you start to go wrong; I'd suggest reading this to remedy it.
    Thank you for the paper I will read it; I am going on what I through personal research I have conducted into viewpoints of Paul Krugman etc. and of course multiple economics blogs, Robert Preston, Tyler Cowan etc. and of course my personal opinion! All input is beneficial however!
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    (Original post by gamer91)
    the tripartite system failed to stop it (i.e. lack of regulation - inherited from the torys which he should have stopped)
    .
    Not really, when Labour got into power they made the Bank of England independent, removed its regulatory power and created a new Financial Services Authority. The Bank of England had been regulating the industry for years and years and had plenty of experience dealing with recessions and booms etc. The new FSA didn't however and was probably one of the reasons some of the banks spiraled out of control.
 
 
 
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