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Tories set to lose Britain second AAA credit rating


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Old 23-03-2013, 20:19
WindWalker
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Head out of the sand rtg.


Osborne 2009: 'Printing money last resort of desperate govts'

The Bank today increased its QE programme by a shock £75bn in a bid to kick-start the UKís ailing economy. Previously only £50bn had been discussed as a possible rise. It is the first time the Bank has issued QE under the coalition government. The first round - which pumped £200bn into the economy - happened under Labour.

ln 2009 Osborne, then shadow Chancellor, slammed Labour Chancellor Alistair Darling's emergency plan to print more money. Osborne said at the time: "The very fact that the Treasury is speculating about printing money shows that Gordon Brown has led Britain to the brink of bankruptcy.

"Printing money is the last resort of desperate governments when all other policies have failed.


http://www.ifaonline.co.uk/ifaonline...gramme-gbp75bn
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Old 23-03-2013, 20:26
Jol44
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Funny when things change though. Before losing the AAA rating it was the most important thing to judge the country's economy by; as soon as we lose it then it's relevance suddenly disappears in a puff of spin.
It was all the Tories ever harped on about wan't it?

'Credit rating, credit rating, credit ratin.... etc etc'

'Labour will lose us our precious credit rating....'

Well, well, look who really did go an lose us our credit rating. Not only that, they asked us personally to categorically judge their economic capability on them keeping or losing it.
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Old 23-03-2013, 21:58
GibsonSG
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It was all the Tories ever harped on about wan't it?

'Credit rating, credit rating, credit ratin.... etc etc'

'Labour will lose us our precious credit rating....'

Well, well, look who really did go an lose us our credit rating. Not only that, they asked us personally to categorically judge their economic capability on them keeping or losing it.
Also why is it that now it is lost it is not important after all.
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Old 23-03-2013, 22:19
BrokenArrow
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Also why is it that now it is lost it is not important after all.
I have no idea, lets ask the spanish government.
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Old 23-03-2013, 22:27
SULLA
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If you have no idea, just say so. Making things up won't get you very far.
Which bit have I made up?
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Old 23-03-2013, 22:39
WindWalker
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Which bit have I made up?
try reading the questions again if you find it difficult.

Why did government debt rise markedly in 2008 through 9 and remain high since?
Labour and welfare are not correct...but you knew that anyway...
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Old 23-03-2013, 22:50
Raring_to_go
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Head out of the sand rtg.


Osborne 2009: 'Printing money last resort of desperate govts'

The Bank today increased its QE programme by a shock £75bn in a bid to kick-start the UKís ailing economy. Previously only £50bn had been discussed as a possible rise. It is the first time the Bank has issued QE under the coalition government. The first round - which pumped £200bn into the economy - happened under Labour.

ln 2009 Osborne, then shadow Chancellor, slammed Labour Chancellor Alistair Darling's emergency plan to print more money. Osborne said at the time: "The very fact that the Treasury is speculating about printing money shows that Gordon Brown has led Britain to the brink of bankruptcy.

"Printing money is the last resort of desperate governments when all other policies have failed.


http://www.ifaonline.co.uk/ifaonline...gramme-gbp75bn
The plot worked.....thanks for the anticipated response.....
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Old 23-03-2013, 23:04
WindWalker
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The plot worked.....thanks for the anticipated response.....
Are you looking forward to Carney's tenure then?
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Old 23-03-2013, 23:16
Raring_to_go
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Are you looking forward to Carney's tenure then?
I donít anticipate that his appointment will have any impact on my financial status.
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Old 23-03-2013, 23:40
zx50
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Oh dear, how will Georgey Boy explain this one? Presumably by blaming Labour rather than admitting his own failings, as usual.
That seems to be their favourite tactic when they've run out of criticisms to make about Labour.
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Old 23-03-2013, 23:41
PrestonAl
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That seems to be their favourite tactic when they've run out of criticisms to make about Labour.
well there's plenty of stuff you can blame on labour
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Old 23-03-2013, 23:57
FMKK
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well there's plenty of stuff you can blame on labour
The banking crisis, horsemeat, Fredos going up to 20p, Justin Beiber's existence, X-Factor still being on TV, Manchester United being top of the league, the death of Elvis and the list goes on.
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Old 24-03-2013, 00:05
BrokenArrow
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The banking crisis, horsemeat, Fredos going up to 20p, Justin Beiber's existence, X-Factor still being on TV, Manchester United being top of the league, the death of Elvis and the list goes on.
I don't think we can blame Horsemeat on Labour.

Horesemeat was definitely caused by the Tories.
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Old 24-03-2013, 00:59
trunkster
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Proof that we really are up shit creek, we have no industrial base that can make and export, and anyone who thinks labour has the answer is a deluded fool.
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Old 24-03-2013, 01:56
FMKK
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I don't think we can blame Horsemeat on Labour.

Horesemeat was definitely caused by the Tories.
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Old 24-03-2013, 02:17
Jol44
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Proof that we really are up shit creek, we have no industrial base that can make and export, and anyone who thinks labour has the answer is a deluded fool.
Well, we now know that the Tories clearly don't have the answer and they have made things worse; of that there is no doubt.
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Old 24-03-2013, 02:23
Jol44
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Horesemeat was definitely caused by the Tories.
No DNA traces of benefits claimants have been found in our pies.
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Old 24-03-2013, 02:52
SULLA
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try reading the questions again if you find it difficult.
I didn't find it difficult at all
Labour and welfare are not correct...but you knew that anyway...
Everything I said was correct. I wouldn't have said it otherwise.
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Old 24-03-2013, 03:30
Jol44
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It was Labour who got us in this mess
Debt as a percentage of GDP 2008

Japan 167 %

Italy 106.1

Euro area 70.2 %

USA 69 %

Germany 66.8 %

France 68.2 %

UK 52.3 %
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Old 24-03-2013, 05:53
Raring_to_go
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Proof that we really are up shit creek, we have no industrial base that can make and export, and anyone who thinks labour has the answer is a deluded fool.
Have faith, the Tories will pull us out but it could get worse before it gets better, they have done it before and they will do it again.

http://en.wikipedia.org/wiki/United_..._national_debt
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Old 24-03-2013, 06:42
Jol44
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Have faith, the Tories will pull us out but it could get worse before it gets better, they have done it before and they will do it again.

http://en.wikipedia.org/wiki/United_..._national_debt
That graph:

http://en.wikipedia.org/wiki/File:UK_GDP.png ,

really does show up the hyperbole for all it is.

This country has been in more debt for the vast majority of the last 200+ years.

As far as the Tories pulling us out of it goes, they are now hugely responsible for escalating any mess and putting us further into debt (and for not the first time either)..
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Old 24-03-2013, 06:47
Majlis
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How can the Tories be at fault if the size of the debt doesn't matter?
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Old 24-03-2013, 06:48
Jol44
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How can the Tories be at fault if the size of the debt doesn't matter?
Who said the size of the debt doesn't matter?
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Old 24-03-2013, 07:08
Majlis
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So when does it become a problem?
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Old 24-03-2013, 08:08
Jol44
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So when does it become a problem?
When a government is so hellbent of forcing through ideological ideals at the expense of any growth that would allow for debt to be paid back.
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