Archive for the ‘credit crunch’ Category
Posted by michael on June 23, 2010
Listening to Alistair Darling one would not realise that he had been the Chancellor of the Exchequer for a Labour government that brought the UK economy to its knees, leaving us all with massive debts for a generation!
Instead he talks as though knows what the current government should be doing!
I know what his record as Chancellor was. Spending money that the UK did not have! Borrowing more and more money to keep going!
They blamed the ‘global’ recession and ignored the fact that the UK suffered badly from the recession because Labour changed the way that the financial industry was regulated. The controls that would have prevented so much damage to the UK economy were no longer in place!
But my main criticism of the Brown/Darling Labour government is that they just kept borrowing money to keep the economy going.
It was clearly more important to them that they stayed in power even if it meant that the people of the UK were saddled with debts for the next twenty years!
They kept themselves in power at the expense of us all.
Subsequently I am not interested in the opinions of Darling, Brown or any of the Labour ministers on what the Conservatives and Lib Dems are doing!
In fact it would concern me if Brown or Darling agreed with the way the ConLib coalition were working to fix the UK economy from the consequences of 13 years of New Labour government!
Posted in Blogroll, ConLib, Conservatives, Lib Dems, UK Economy, credit crunch, debt, economy, financial, labour, recession, tax | Tagged: borrowing, cost of living, economy, new labour, recession, tax increases, UK Economy, gordon brown, david cameron | Leave a Comment »
Posted by michael on June 14, 2010
I would like to see an official investigation into what Brown, Darling and Labour were telling us about the UK economy.
The UK economy is in a very poor state yet if one had believed the last Labour government then everything was really OK. Brown emphasised his ‘prudence’ in dealing with the economy.
Yet we now find that the debts are more than anyone imaged, and the UK growth figures have been exaggerated.
Although Labour lost many seats, their share of the vote was higher than expected.
I do wonder how many people were misled by Labour emphasising that prudent Brown has the economy in control!! I know of some people who voted for Labour because Brown was seen as more competent to look after the economy.
Of course these people now know that Brown did not have the economy under control. They now know how much in debt Labour have plunged the UK into.
As far as I am concerned there should be very few people who will ever be able to trust a Labour government again!
Posted in Blogroll, UK Economy, benefits, credit crunch, election, financial, labour | Tagged: credit crunch, economy, gordon brown, government, labour, new labour, UK Economy | Leave a Comment »
Posted by michael on June 7, 2010
There are still Labour supporters saying that we must maintain the same level of spending on public services!!
These dinosaurs of economic thinking do not seem to understand that the UK simply does not have the money to spend on these high levels of public sector jobs and services.
All public sector jobs are paid for through the taxes of everyone in the UK.
Both Darling and ‘call me prudent Brown’ simply borrowed the money to pay for their public sector improvements. Anyone who thinks that this practice could go on and on is not being sensible!
How Labour thought that they could get away with it is staggering! It was always going to end in a financial crash and/or the IMF coming in to run the economy (as has happened before with Labour in power!)
Labour, new or otherwise, have shown themselves to be unfit for government, especially whilst they have ministers from the Brown government in the Labour party!
There are even Labour supporters still saying that we must maintain the same level of spending on public services!!
These dinosaurs of economic thinking do not seem to understand that the UK simply does not have the money any more to spend on these high levels of public sector jobs and services.
All public sector jobs are paid for through the taxes of everyone in the UK. Both Darling and ‘call me prudent Brown’ simply borrowed the money to pay for their public sector improvements.
Anyone who thinks that this practice could go on and on is not being sensible! How Labour thought that they could get away with it is staggering!
It was always going to end in a financial crash and/or the IMF coming in to run the economy (as has happened before with Labour in power!)
Labour, new or otherwise, have shown themselves to be unfit for government, especially whilst they have ministers from the Brown government in the Labour party!
Posted in Blogroll, ConLib, Conservatives, Lib Dems, UK Economy, benefits, council tax, credit crunch, debt, economy, financial, labour, national health service, nhs, tax | Leave a Comment »
Posted by michael on May 17, 2010
We are beginning to get the true state of the UK economy revealed to us. What is being revealed in the public domain shows that the Labour government have been misleading us on the true state of the UK economy.
Can anybody really now doubt that Gordon Brown has been the worst Prime Minister that the UK has had in modern times? Yet Gordon Brown has a reputation for ‘economic prudence’ and competence as the chancellor and then the unelected Prime Minister.
How did he manage to fool so many people for so long? The awful financial state of the UK economy did not happen overnight or suddenly occur in the last few months!
During the election campaign New Labour and Brown campaigned on the basis of Brown’s prudence and reputation in managing the economy!!!
Nearly all of us are going to go through difficult times with our finances and with cuts in services because of the lousy New Labour government that we have had for the last 14 years!
Posted in Blogroll, ConLib, Conservatives, Lib Dems, UK Economy, credit crunch, debt, economy, financial, labour, national health service, tax | Tagged: conservative, credit crunch, david cameron, debt, economy, gordon brown, government, greedy, recession, UK Economy | Leave a Comment »
Posted by michael on May 17, 2010
I have banged on and on about the state of the UK economy and the financial problems ahead for all of the taxpayers (in particular) and those needing health services etc.
The new government have now had a chance to look at the UK accounts. We are getting hints as to what they are finding!
Cameron said on Sunday that that an audit of the government’s books had already found some “crazy” spending decisions!
Unfortunately these hints all point to a very bad time for the people of the UK.
A BBC report includes the following quotes:
Mr Osborne said Labour’s economic forecasts had mostly been wrong and “almost always in the wrong direction“.
Liberal Democrat David Laws, the Chief Secretary to the Treasury, said the task ahead was “colossal” and that Labour had left the public finances in an “unacceptable” state.
Mr Laws said his predecessor, Liam Byrne, had left him a letter saying simply: “ Dear chief secretary, There’s no money left. “
So what can we make of this? Our level of borrowing is massive. Huge amounts of debt is not even counted as UK debt, because it has been included in the PFI debt levels. This includes the money borrowed to pay for the schools and hospitals. Other debts, also not included in the national debt, include the modernising of the UK trains.
Can the UK afford to repay all this debt when the UK is in such a financial mess? If not we could go the way of Greece!
Yet some of these same New Labour MPs are vying for the leadership of the Labour party!
Posted in Blogroll, ConLib, Conservatives, UK Economy, benefits, credit crunch, debt, national health service, recession, tax | Leave a Comment »
Posted by michael on May 16, 2010
It is my view that none of the ministers from the last failed Labour government are fit to be the leader of the Labour party!
They are all responsible for being part of what has probably been the worst Labour government of modern times.
Brown and Darling will take more of the blame and responsibility by virtue of their positions in the government.
But all the senior ministers have been part of a government which has almost bankrupted the UK, taken us to unnecessary wars and brought our economy to its knees.
What short memories they have!!
How can any of these people have any credibility with any financial policies that they may want to promote.
They are all already tainted with a message of financial failure and will carry this message of failure for the rest of their lives!
Posted in Blogroll, UK Economy, afghanistan, credit crunch, crime, debt, economy, financial, iraq, labour, military, national health service, nhs, recession, utility, war | Tagged: banks, borrowing, cost of living, credit crunch, debt, economy, election, government, recession, repossession, tax increases, UK Economy | Leave a Comment »
Posted by michael on May 12, 2010
We effectively have a coalition government now.
It means that the two parties need to make some compromises of their policies to avoid friction. But that happens anyway within a single government!!
The Conservatives have a left and a right wing which have to work together.
New Labour have Blairites and Brownites who have to work together!
So the idea of rifts and splits with the government is no more than happens in every government!
But I also see this as an equivalent to the war-time coalition government of 1945. We have serious financial problems with the UK close to bankruptcy and the risk of the IMF coming in to run the UK.
So, excluding Labour because they caused the problems by a lack of thrift and what I see as the worst government and the worst prime minister in modern times, the coalition of the Conservatives and the Libdems will be more than competent in resolving the financial mess inherited from Brown!
Posted in Blogroll, Conservatives, Lib Dems, UK Economy, credit crunch, debt, economy, national health service, nhs, recession, tax, utility | Tagged: bankers, conservative, conservative government, credit crunch, david cameron, government, parliament, UK Economy | Leave a Comment »
Posted by michael on May 12, 2010
I have NO sympathy with Brown and how he is going to cope now he has given up politics. Brown has left an awful mess for us all to suffer and pay for over the years to come.
Brown is not going to struggle to pay his bills but the consequences of his term in power is that millions of people are going be in financial difficulties with extra taxes, extra charges, unemployment and a lower standard of living.
The population of the UK are going to change their views of Brown, Blair and New Labour once the consequences of this failed government start to effect them.
Posted in Blogroll, Conservatives, Lib Dems, UK Economy, benefits, credit crunch, debt, election, financial, health, recession, tax | Tagged: conservative, cost of living, credit crunch, david cameron, debt, government, labour, recession, repossession, tax increases, UK Economy | Leave a Comment »
Posted by michael on May 11, 2010
At last, I have waited a long time for this!
One thing for sure, I was not wrong about my not wanting a Labour government over the last 14 years! It was always going to be a disaster, the only difference this time is that it has taken longer than normal for New Labour to collapse!
I have always known that this government would end in a financial crisis with serious consequences for the people, because that is what Labour governments do!
Our debt levels are massive. People will be very shocked when they see the extent of our indebtedness and the consequences that it will have on them.
Brown kept us ignorant of the state of the economy during the election period. Why? If there was any good news about our economy don’t you think that it would be exploited during the election campaign?
This policy prevented the opposition to give us their detailed plans, but it also hid the state of the UK economy during the election!
I trust that the Conservatives will give us a full statement about the economy as soon as possible, because they won’t want to be blamed for the huge debts that Brown has incurred in our name! But it is a balancing act because it could unsettle the financial markets.
Cameron will find it difficult increasing taxes and raising extra money from us all unless people understand that this is needed to repay debts incurred by Brown and New Labour!
Yes we have more new schools and hospitals now. But the country needs to know if we have actually paid for them already or are we going to have to pay for them out of increased taxes for years to come in the future?
Blair and Brown took over running the country 14 years ago. They started with the ‘Golden Inheritance’ from the last Conservative government. Until the Credit Crunch (Oh why did Brown change the banking regulations which resulted in us suffering so much from the Credit Crunch!!!) the UK was doing well.
Since the Credit Crunch all this government seem to have done is to increase our indebtedness, even to the extent of giving money away to other countries!
We now seem to have a Conservative government about to take over. They have to deal with a real mess. We will suffer financial pain as a result. But don’t blame the Conservatives who are sorting it out. Blame the Blair, Brown and Darling for their inept management of the economy which has dumped us with all this debt!
Posted in Blogroll, Conservatives, Lib Dems, UK Economy, council tax, credit crunch, debt, election, financial, labour, recession | Tagged: bankers, conservative, credit crunch, david cameron, debt, economy, election, gordon brown, government, labour, recession, tax increases, UK Economy | Leave a Comment »
Posted by michael on May 10, 2010
One thing I have learnt overt he last 14 years is to listen properly to what Gordon Brown and other Labour leaders say!
It sounded like Brown said that he was going to resign, but he qualified the statement every time he said it.
Brown said clearly two things:
1. Brown will stay to sort out the new government
2. He also said that he would stay to sort out the economic mess. Now this alone could take 10 years!!
The next Labour conference is in September I believe. There is no way that the financial mess that the UK is in could be sorted out by then so there is no way the Brown would resign at that time!
Labour don’t seem to like have elected leaders! Do they really believe that none of the potential leaders are good enough to be selected by the UK voters? It is beginning to look like they are either scared of elections or have a total contempt for them!
The UK economy is in a terrible mess. Is Brown desperate to prevent other people from seeing the UK Books? Are they possibly so bad that Brown will do anything he can to stay in power!
Posted in Blogroll, UK Economy, credit crunch, election, labour, recession | Leave a Comment »
