Quantitative Easing = printing money

#41
I didn't say that, at least I didn't mean to. What I hope I said was "Therefore, whilst deregulation played its part it was not the sole reason for this global problem."
 
#42
Sven said:
Rumpelstiltskin said:
Sven said:
RM - I'll give you a hint. It wasn't Brown who so very nearly brought down the banks and caused this problem.
It was Brown- in his loved-up mission to impress Greenspan- who locked the City & Wall St in a cycle of competitive deregulation which in turn gave the banks free reign to fcuk up.
. . . . .and Brown who deregulated the French banks, German banks, US banks etc etc etc.

Surely, if more than one country has a problem the reason for that problem cannot be laid at the door of just one of those countries.

Therefore, whilst deregulation played its part it was not the reason for this global problem.
Sven, as you are surely aware:

1) The City is the financial capital of Europe. Continental banks dabbling in our risky financial innovations moved their operations to London, where regulation was essentially non-existent. Extensive trading in complex financial derivatives simply would not have been possible in Frankfurt. The French & German economies are also- you'll have noticed- far less fcuked than ours.

2) As I said, the City & Wall St were locked in a cycle of competitive deregulation. Brown & Greenspan are equally to blame- for fcuking up the world's economy rather than merely our own.

3) Deregulation was the equivalent of turning off your firewall and letting the subprime virus infect the global financial network. That's what turned a localised 'American problem' (as Brown would have it) into a global 'tsunami' (as Warren Buffett would have it). What do you think is the underlying cause, out of interest?
 
#44
Sven said:
I didn't say that, at least I didn't mean to. What I hope I said was "Therefore, whilst deregulation played its part it was not the sole reason for this global problem."
We can slag off Brown and you can defend Brown all day and point and wag fingers til they drop off. But you are never going to change your mind about it while the taste of his cock still lingers on your tonsils.

However you have said not one bit about whether you think the self proclaimed financial genius will solve debarcle with this latest effort to print our way to collective glory? So whats your 2p worth (before its worth 1p...)?

Incidentally I would be interested in the results if Brown sat down today (without cramming) and sat a paper in GSCE business studies or economics and see how he got on. I suspect I know the result.
 
#45
jockass said:
Sven said:
I didn't say that, at least I didn't mean to. What I hope I said was "Therefore, whilst deregulation played its part it was not the sole reason for this global problem."
We can slag off Brown and you can defend Brown all day and point and wag fingers til they drop off. But you are never going to change your mind about it while the taste of his c*** still lingers on your tonsils.

However you have said not one bit about whether you think the self proclaimed financial genius will solve with this latest effort to print our way to collective glory? So whats your 2p worth (before its worth 1p...)?

Incidentally I would be interested in the results if Brown sat down today (without cramming) and sat a paper in GSCE business studies or economics and see how he got on. I suspect I know the result.
BUT

he could do you a cracking paper on The Labour Party and Political Change in Scotland 1918-29.

The word Pope, balls, t1ts and Tarzan for some reason have sprung to mind :twisted:
 
#46
On a side note, it always bugs me when people talk about Brown as if he's some kind of economic genius. Most people I know, including journalists, assume his academic background was in economics, whereas in fact:

October, 1972
Elected rector of Edinburgh University while studying for PhD in history. Thesis on radical Labour leader James Maxton.
http://news.bbc.co.uk/1/hi/uk_politics/3809861.stm

[ Brown's idol, Maxton was jailed for conscientious objection in WW1, promoted appeasement and disarmament in the 1930s, and remained a pacifist throughout WW2.] :roll:

Brown was 10 years finishing his PhD - an inordinate length of time. In today's target-driven higher education world, he would have been terminated long before completion. He was distracted from research by service as the first student Rector of Edinburgh University.

Brown may, as is often said, have been awarded the best "first" of his time. His PhD seems, by contrast, to have been perfunctory and intellectually undistinguished.
Again, :roll:
 
#47
Rumps

The current crisis comes from US banks lending to those they should not have lent to (sub prime) and British banks a) picking up on this and lending in turn to those they should not have and b) buying debts from the US.

As I have said already, deregulation plays its part and for that the FSA and Brown has a part in the blame, but you cannot lay all the blame on them - not even for deregulation. The Tories started down that road when in power and even recently were calling for further deregulation.
 
#48
Does the present student Rector of Edinburgh Uni carry on with their studies whilst performing this role?

I don't know the answer, so would be interested to find out.
 
#49
Ah - political hero a marxist pacifist and appeaser - that will be what qualified Brown to write a book about British Heros then.
 
#50
Bluffers always get caught out in the end, rarely to they get to break a G7 country in the process. His amatuer interest in economics has been at the heart much of the failure. He had quite a few people fooled for quite some time but I have always hated him as a charletan since long before it was fashionable.
 
#52
Sven said:
Does the present student Rector of Edinburgh Uni carry on with their studies whilst performing this role?

I don't know the answer, so would be interested to find out.
The current Rector is Ian Mac Whirter - a journo.
 
#53
Sven said:
As I have said already, deregulation plays its part and for that the FSA and Brown has a part in the blame, but you cannot lay all the blame on them - not even for deregulation.
Had Brown not deregulated the City, would the US subprime crisis still have spread to UK banks? Yes or No?

The Tories may well have created the tripartite structure of toothless FSA, Treasury and BoE if they were in power, but they weren't and didn't, and so can't be blamed for it. Brown was and did, and can. That is one of the many reasons why he is a gigantic c0ck.

Brown was the only student rector of Edinburgh Uni- I guess it was a post-68 innovation that proved not to work: http://en.wikipedia.org/wiki/Rector_of_the_University_of_Edinburgh

Edit: Wrong, 2nd and last. Read this- it's both hilarious and depressing and shows how irritating student c0ck became disastrous PM: http://news.bbc.co.uk/1/hi/uk_politics/4683799.stm
 
#54
Nick Clegg is on paternity leave so Sven can't get his view on QE yet
 
#55
jockass said:
But what do you think about quantative easing Sven? Dying to find out.
Initially I was concerned by the BoE asking to initiate it. However, having read about Jessups view I am more sanguine.

However, I am open to responsible and knowledgeable peoples arguements. If, in my view they successfully challenge what Jessup says then I will change my mind.
 
#58
Herrumph said:
Brown is continuing with his famed impression of McKavettie's cat (check spelling) - never around or able to be blamed when everything goes T*ts-up.

He sloped shoulders' with all Blairs unpopular decisions and dodged the blame game. Now it is all the American's- a tune that will shortly be changed to it's "all the American Republicans' fault".
He's currently scenting the Vatican with acrid fumes of stale pi$$ as he visits the Pope. Not sure whether this is to pray for divine intervention or to ask for the Pietà so he can pawn it to pay Jacqui Spliff's housing benefit.

It's worth bearing in mind that only half of the G8 countries are in recession. According to OECD, IMF, EU and Starbucks, Britain is expected to suffer more than other recession hit countries because our economy was already stuffed as we entered recession.

Remember that next time Captain Incontinence tries to tell you that this is a 'global problem'.

The situation in the UK is gravely exacerbated by levels of personal debt. Remember all those ads for Ocean Finance that used to be on telly? Banks in Britain were climbing over one another to lend money to people with no hope of getting it back. Mortgages of up to 10 times joint income were available until about a year ago.

In France the mortgage limit is 0.6 times joint income and that's set by law. Hence the French will miss out on the joy of tens of thousands of families becoming homeless as their houses are repossessed by banks that are now government-owned. All while the same government gives immigrants, chavs and teenagers who can't keep their knickers on priority for available public housing. Oh - and continues to tax the newly homeless in order to pay benefits to the folks who are now living in their former homes.

Consider the following facts:-

1 People are having their homes taken by the same government that provides millions in legal aid to terrorists like Abu Qatada.

2 Real unemployment will top 6 million by the summer. Nonetheless, the government continues to hand out work permits and tax breaks to immigrant workers to stop them claiming asylum.

3 Petrol is relatively cheap

4 Matches are cheaper

5 Rocks and empty milk bottles are free.

Now, combine all of the above and predict what's going to happen in late summer.
 
#59
Sven said:
jockass said:
But what do you think about quantative easing Sven? Dying to find out.
Initially I was concerned by the BoE asking to initiate it. However, having read about Jessups view I am more sanguine.

However, I am open to responsible and knowledgeable peoples arguements. If, in my view they successfully challenge what Jessup says then I will change my mind.
But you are not going to link to, or give us an executive summary of the views that influenced you?
Well, thats good enough for me, change my vote to Its a great idea too.
 
#60
Sven said:
Herrumph said:
Nick Clegg is on paternity leave so Sven can't get his view on QE yet
Cable isn't on paternity leave and so I could bet it from him - surely :D
Cable - the best leader the Liberals never had.

Probably the only LibDem politician Cameron should consider in a unity government.
 

Similar threads


Latest Threads

Top