12 November 2010
01:3679746I don't know if anyone else watched Channel 4 tonight (Thu) - Britain's Trillion Pound Horror Story but personally I think it should be compulsive viewing for anyone interested in economics/politics just now.
To quote the Guardian it 'does what all good polemic does: demands to know if you have any better ideas'.
Recommended:-
http://www.channel4.com/programmes/britains-trillion-pound-horror-storyGuest 653- Registered: 13 Mar 2008
- Posts: 10,540
12 November 2010
08:2279754Why is it then that Labour, who were in control of everything for 13 long years, are now in denial.
Saw a bit of Question Time last night and Caroline Flint was in denial of all Labour's failings, especially in relation to the (structural) deficit. She was even supporting Phil Woollas over his (racist) election leaflets.
Roger
Alec Sheldon
- Location: Dover
- Registered: 18 Aug 2008
- Posts: 1,037
12 November 2010
16:0579808Frightening Bob, and I only watched the first twenty minutes, I will will watch the rest later.
Roger, they are all to blame, reds and blues, what ever you like to call them, for the mess we are in. Did you see Bob's link ?.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
12 November 2010
16:2679817How so the blues, Alec?
Labour have been in charge for 13 years, plenty of time to get things right - if they knew what right was, of course....
Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,948
12 November 2010
16:4179821ROGER
No one denies the issue is how do you deal with it.
I don't expect yourself or barryw to agree with labour, no more than i agree with much the tories do.
We have, been through the phil woolas, hes been suspended by the labour party, quick action taken, hes not around for at least 3 years if ever.
So let's move on, the danger here is the courts dealing with these issues, and lets be fair roger you have sailed close to the wind
ALL POSTS ARE MY OWN PERSONAL VIEWS
12 November 2010
16:4679825Keith. You only way you deal with IT is a reduction of standard of living for everyone in the UK. End of story.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
12 November 2010
16:5279830barak obama was making a speech today along the same lines as above, everyone has to suffer a reduction in living standards.
the americans managed to get into this situation without any assistance from gordon brown.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
12 November 2010
17:1679839Its a different story for the USA Howard. Dont forget that Clinton played a role in setting the US up for a fall with his legislation opening up lending to those who previously could not borrow. That was the origin of the toxic debt that so contributed to destabilising the banking system, worldwide. Then they had Bush - enough said there, now Obama - the economy way always his weakest point.
If only we had better stewardship since 1997, correction, the big problems started a bit later, 2000. That is when Brown was released from his spending restrictions self-imposed in their manifesto and started spraying money around as if it was confetti. But, on the other hand, it was 1997 that Brown set up our banks for the disaster to follow - when he changed the regulations, reducing BoE oversight and openly encouraging them to take risks, often with that hidden toxic debt in the USA.
Unregistered User
12 November 2010
20:3379866You are correct about the Clinton era Barry.
Not only did he start the toxicity but compounded it by using equalities legislation to stop repocessions further adding to debt.
Watty
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
12 November 2010
20:4379868ok i am a bit out of my league here but i note that bill( i never had sex with that woman) clinton brought in a bill to stop people losing their homes, something i have no problem with.
my understanding is that the problems started with our stateside friends when banks were lending money to people who had little chance of meeting the repayments.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
12 November 2010
23:0479882Exactly Howard -thats exactly what they did in the USA under the requirements of legislation pushed through by Clinton.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
14 November 2010
13:1080003Well - I finally caught up with this programme yesterday and I agree with 95% of what they say, indeed it followed many of the economic themes I have been pounding away at.
Conclusion:
We MUST cut taxes dramatically
We MUST massively shrink the State - far more than the government's plans.
One particularly interesting thing came accross from the programme - the NHS is the worse health service of any developed country.
To improve it then we should go the whole hog and privatise it....
Those who disagree should make sure they watch the programme to follow the logic. Indeed this programme should be compulsory viewing.