It seems to have passed you by but for April 2009 the RPI was -1.2% yes minus one point two per cent
That's not the rate of increase slowing down. That's falling prices. Brown and Darling acted to end this. It might seem to you like a marvellous thing but if unchecked deflation is devastating for economic activity.
All the years Tony and Gordon were running this country there were disparaging and anti Brown and Blair comments in the press and on the tv. I said all the way through new labours leadership that the media treated them really badly. they constantly attacked and badgered them with comments like 'when are you going to let Gordon become primminister and other comments that implied they were playing at politics rather than running the nation.
All the years Tony and Gordon were running this country there were disparaging and anti Brown and Blair comments in the press and on the tv. I said all the way through new labours leadership that the media treated them really badly. they constantly attacked and badgered them with comments like 'when are you going to let Gordon become primminister and other comments that implied they were playing at politics rather than running the nation.
I thought it was interesting that when the euro-zone were having difficulties who did they call to guide and help Gordon Brown he/we weren't part of teh eurozone.:D
I bet there would be dozens of these apologies from all of the news papers and tv reports if levisons proposals were implimented the only time the news papers tell the whole truth is when they do so by accident.
. they constantly attacked and badgered them with comments like 'when are you going to let Gordon become primminister and other comments that implied they were playing at politics rather than running the nation.
And how many of those attacks originated from within the Brown camp - Balls, Watson, McBride, Whelan?
The power struggle between Blairites and Brownites didn't need external actors - both sides were far from innocent in undermining the other. What became public was just the tip of the iceburg.
His attendance record as an MP in parliament may not be up to standard but you don't know how hard he is working as an MP in his constituency for his constituents.
He may be doing a fantastic job for his constituents but then again he may also be one of those who only ever turns up for the freebies - we have no way of measuring that.
What we are able to measure is his dedication his other (major) responsibility which is his job as a member of parliament. By that measure he is claiming a wage on false pretences.
Whichever way you look it he is neglecting a large part of his job. So much so that it would get anyone in a regular job the immediate sack.
Wrong, wrong, wrong. It's no good popping in with your post and run digs about him and/or Labour without really understanding the situation. Go and read up about banking, shadow banking, derivatives and leverage then come back and try again.
Did Brown leave us with a massive debt or have I imagined it
Hardly Greek territory, the situations are incomparable.
Really? You don't believe that had the Scunner been granted a term in office by the electorate, that we'd have been "cap in hand" to the EU and IMF etc etc., by now?
We know what the issue was, how was the FSA supposed to regulate it? Banks are free to come up with their own products and offer them to the public or are you suggesting state controlled mortgages? You either have competition or you have state control, it seems some folk want one until it doesn't work then complain the other wasn't done.
having said that, how big is the non performing mortgage problem in this country? I've not seen massive foreclosure like they have in the states. Was bad mortgages in the UK the reasons the banks failed?
Lord Turner, himself a former investment banker, said: “There was a philosophy rooted in political assumptions which suggested the key priority was to keep it light rather than to ask more questions.” He effectively admitted that the regulator had not been fit for purpose for much of the past decade.
Lord Turner may well have his own views but you avoided the questions I posed in original post, quoted above for reference. Any replies to bits in bold?
Well you'd be wrong...again. The banks wrecked the economy and wrecked economies all round the world. That hasn't repeated itself and no unexpected crashes have happened yet this government can't even meet it's own forecasts, made with full knowledge of the situation.
After 2008 the economy suffered but some stability was restored. It was building on that, that would help us recover. Instead we had idealistic slash and burn, spending on vanity projects and tax rises. That put us back in recession, and likely to be another one soon after a one off Olympic boost. Labour made many mistakes and were wrong on many things but to suggest they made the banks crash worldwide and Conservatives have made things better are laughable.
OK Windy her's a final thought....if the FSA were simply spectators devoid of any teeth or ability to step in, why did Gordon Brown stop them from interfering?
Why did he basically set them up in the first place......all for show was it?
OK Windy her's a final thought....if the FSA were simply spectators devoid of any teeth or ability to step in, why did Gordon Brown stop them from interfering?
Why did he basically set them up in the first place......all for show was it?
I've never argued they were any good, they are a part of the banking system and profit from it. What I want to know, and keep asking, is...*what regulation/s did the banks break?
To regulate is to make sure people/sectors operate inside the rules (regulations) set down by law/statute...yes?
Regulators can't invent regulation just to stop private banks trading in a way in which they don't like...yes?
How would a regulator or Brown or the treasury know that the financial products they were 'investing' in were rubbish?
Can a regulator prevent a bank selling mortgages to people that meet the requirements?
You see Rusty, all I ever read from government supporters and some others is 'should 'ave regulated 'em innit'. Regulate what exactly? Stop banks from doing what exactly?
*Excepting Libor, drug money laundering, sanction breaking, mis-selling (fraud) which have come to light after the crash and were actually breaking laws, not regulation.
Comments
Here is a Telegraph story from May 2009 with the headline: Britain sinks into deepest deflation since 1948 http://www.telegraph.co.uk/finance/recession/5348943/Britain-sinks-into-deepest-deflation-since-1948.html
It seems to have passed you by but for April 2009 the RPI was -1.2% yes minus one point two per cent
That's not the rate of increase slowing down. That's falling prices. Brown and Darling acted to end this. It might seem to you like a marvellous thing but if unchecked deflation is devastating for economic activity.
http://youtu.be/ZyQ0OYqB3lo
If anyone knows which documentary/documentaries these clips came from could you let me know as I'd like to watch the rest of it/them.
All the years Tony and Gordon were running this country there were disparaging and anti Brown and Blair comments in the press and on the tv. I said all the way through new labours leadership that the media treated them really badly. they constantly attacked and badgered them with comments like 'when are you going to let Gordon become primminister and other comments that implied they were playing at politics rather than running the nation.
He didnt do good work for UK that's why we're broke
I thought it was interesting that when the euro-zone were having difficulties who did they call to guide and help Gordon Brown he/we weren't part of teh eurozone.:D
I bet there would be dozens of these apologies from all of the news papers and tv reports if levisons proposals were implimented the only time the news papers tell the whole truth is when they do so by accident.
The power struggle between Blairites and Brownites didn't need external actors - both sides were far from innocent in undermining the other. What became public was just the tip of the iceburg.
He may be doing a fantastic job for his constituents but then again he may also be one of those who only ever turns up for the freebies - we have no way of measuring that.
What we are able to measure is his dedication his other (major) responsibility which is his job as a member of parliament. By that measure he is claiming a wage on false pretences.
Whichever way you look it he is neglecting a large part of his job. So much so that it would get anyone in a regular job the immediate sack.
Yeah! He worked all hours destroying our economy. No more boom and bust...if only he hadn't been Chancellor.
What are they videos of...Cameron beating pensioners to death with a champagne bottle :rolleyes:
They are still clinging to it as we enter Tory Triple Dip.
You'd have preferred the old spend/borrow/spend/borrow more policy of NuLab, just so we could be alongside Greece?
Been a while since Greece has been used, it's like 2010 all over again
Relevant today as much as it was then. Had this country continued on the ruinous spending policy, we'd be in even deeper do-do than we are.
It seems to have passed you by that the RPI hasn't been used as the measure of inflation since several years before 2009.
http://www.rateinflation.com/inflation-rate/uk-historical-inflation-rate
Hardly Greek territory, the situations are incomparable.
Did Brown leave us with a massive debt or have I imagined it
Really? You don't believe that had the Scunner been granted a term in office by the electorate, that we'd have been "cap in hand" to the EU and IMF etc etc., by now?
you imagined it.
They obviously haven't read this
Finally! Exposed! The Deficit Myth! So, David Cameron When Are You Going to Apologise? http://huff.to/QFYtKm via @HuffPostUKPol
It's substantially figure playing bullshine.
Lord Turner may well have his own views but you avoided the questions I posed in original post, quoted above for reference. Any replies to bits in bold?
OK Windy her's a final thought....if the FSA were simply spectators devoid of any teeth or ability to step in, why did Gordon Brown stop them from interfering?
Why did he basically set them up in the first place......all for show was it?
I've never argued they were any good, they are a part of the banking system and profit from it. What I want to know, and keep asking, is...*what regulation/s did the banks break?
To regulate is to make sure people/sectors operate inside the rules (regulations) set down by law/statute...yes?
Regulators can't invent regulation just to stop private banks trading in a way in which they don't like...yes?
How would a regulator or Brown or the treasury know that the financial products they were 'investing' in were rubbish?
Can a regulator prevent a bank selling mortgages to people that meet the requirements?
You see Rusty, all I ever read from government supporters and some others is 'should 'ave regulated 'em innit'. Regulate what exactly? Stop banks from doing what exactly?
*Excepting Libor, drug money laundering, sanction breaking, mis-selling (fraud) which have come to light after the crash and were actually breaking laws, not regulation.