Thread: The economy is over the worst and Labour did it, says Brown

ITS OFFICIAL

The economy is over the worst and Labour did it, says Gordon Brown Brown and Darling to claim “the worst is over� The Prime Minister is expected to claim that the economy is through the worst — and that it was Labour that did it Gordon Brown is hoping to seize back the political agenda with a new focus on the economy.

The Prime Minister, whose summer break has been overshadowed by deaths in Afghanistan and the release of the Lockerbie bomber, is expected to try to convince voters that the British economy is through the worst — and that it was a Labour Government that navigated the choppy waters.

Centre stage this week is the meeting in London of the Group of 20 finance ministers. Alistair Darling, who is hosting the meeting, will try to ensure greater international co-operation in response to the banking crisis.

Mr Darling will also have to address the issue of executive bonuses — Nicolas Sarkozy, the French President, has already been seeking support from Angela Merkel, the German Chancellor, to introduce global rules on rewards for traders. Mr Sarkozy is trying to push the issue high on the agenda of the G20 summit in Pittsburgh later this month.

Rest of story here : http://www.timesonline.co.uk/tol/new...cle6816468.ece

Can't you just imagine Brown the Clown jumping around just before beddy-byes in his Spiderman jim-jams screaming: "I saved the world!" Then his missus tucks him up and makes sure that his nappy's still secure.

MsG

global rules on rewards for traders?? if they are working for a private company who hasnt taken any kind of money off their host countries government, what the FCUK business is it of theirs??? nannying fcuking 'we know whats best for you' CNUTS.

Yes Labour did it, run up debts that everyone will be paying even after I am deed.
john

Why did the UK economy fall in the second quarter when the USA, Japan, Germany and France did better

Published by John Redwood under Blog

"The government used to tell us we were best placed of the major economies to weather the “global storms�. The government suggsted we would be first out thanks to the massive public sector “stimulus� administered. They ignored the UK hurricane they had created by their mad monetary and banking policies of the previous ten years.

The second quarter figures tell a different tale. The UK economy continued to fall, falling faster than the USA, falling faster than the stronger major economies which saw some recovery. It is true government consumption rose, thanks to the spending spree and the massive borrowing, which helped the figures for output. Overseas trade improved but little despite the devaluation of last year. The big reason the UK continued to fall was the continued squeeze on the consumer.

The government as always wants to have it both ways. The authorities brought the consumer boom to an abrupt end by their hikes in interest rates and their scarce money policies of 2008-9. They did so presumably because they thought consumers were borrowing too much and the party had to end. They got into a panic late in the day, and slashed interest rates and printed money to try to offset what they had done over the two preceeding years. Meanwhile consumers are taking the hint they gave them earlier, and are busily repaying debt. That means they spend less. All the time people are highly borrowed – as many are – and all the time many fear unemployment – as they do – they will repay more debt than the government now wants and spend less than the government wishes.

One of the reasons people are likely to stay cautious and repay more debt is the likely pattern of interest rates. few consumers believe 0.5% rates. Firstly, we can’t borrow at those rates. If you can get a loan it will be many times base rate. Secondly, most people expect rates to have to go up again. They have been burned by the past interest rate hikes. They realise that given the huge sums the government needs to borrow, higher rates are likely in the medium term.

The government hopes to keep rates down through quantitative easing to see them through to near the election. Once that is out of the way markets are likely to force rates up on government debt, unless sufficient action is taken to rein in the deficit and the borrowing requirement. Markets might do that earlier of the numbers continue to alarm. Meanwhile canny consuemrs will carry on paying off debt, and worrying how long they may keep their job."


john

Oh well, lets all hail Cyclops, our fiscal saviour.

Just need to pay back the odd trillion or two now and everythings sorted

Do they assume that we have the memories of goldfish?

In his dreams!

He is a dishonest incompetent and the entire country knows it save for a few 'lame brains' such as 'ashie', 'parapuke' and 'Sven'.

Originally Posted by Conrad_Cock

Do they assume that we have the memories of goldfish?

Yes, and it's a sad fact that many voters do. Apart from those who may believe Broon, when you add the number of potential voters who would be worse off if benefits were reduced/controlled (a few million?) and add to that those who would vote labour even if (especially if) they had Stalin running them, then you get perilously close to a majority, I would think.

Now, if we were to cut off Scotland and Wales from the next election.....

Given what happened in Wall Street yesterday (down 6 1/2%) and what might happen today when London opens I fear that Zanu Labour's recovery may be the same as all thier other achievments - spin and fantasy.

Anyone remember the last Labour fiasco? Inflation at 18% and interest rates through the roof. And don't forget it was the Harold Wilson (and I use the term in the loosest possible sense) government that devalued the pound. The pound in our pocket certainly isn't safe while Cyclops & Co are in power.

Not sure if this is pure hubris, outright deceit or monumental self delusion.

It smells of Mandelsturm though.

Originally Posted by BuggerAll

Given what happened in Wall Street yesterday (down 6 1/2%) and what might happen today when London opens I fear that Zanu Labour's recovery may be the same as all thier other achievments - spin and fantasy.

Which index is that, BA?

The BBC is reporting that Wall St was down 48pts which is nothing in the scheme of things!

Litotes

Oldsnowy says
"Yes, and it's a sad fact that many voters do. Apart from those who may believe Broon, when you add the number of potential voters who would be worse off if benefits were reduced/controlled (a few million?) and add to that those who would vote labour even if (especially if) they had Stalin running them, then you get perilously close to a majority, I would think."

Add to that all the Non jobs Labour created for graduates who would as they grew older would start to vote Tory.
Brown was buying the forthcoming election 10 years back and more.
john

Brown is certifiably insane.


Watching that mong is like the last scene of Downfall, you know, the scene were Hitler is moving around all his phantom divisions on the big map board while the Ruskis are shelling the crap out of Berlin, and the generals are all watching him, rolling their eyes in disbelief then slinking out the back door and making their getaway.