andikay Posted June 13, 2011 Share Posted June 13, 2011 I never said he didn't do things wrong, I said he wasn't responsible for the global financial crisis. He wasn’t the only person that was responsible but he did play a big part; the UK and the UK banking sector are not small players in the global financial sector. He was also responsible for failing to anticipate the day thing would crash, he deluded himself along with millions of others into thinking there would never be another crash, his biggest claim was that he had eliminated boom and bust. He could have saved during the boom years to counter the effect of the inevitable bust, but he ignored advice to curb his spending. He was like a teenager with a new credit card; he never anticipated the day that credit would stop. Many people anticipated the bust so didn’t squander everything they had during the boom. Link to comment Share on other sites More sharing options...
websters gue Posted June 13, 2011 Share Posted June 13, 2011 This is what George Osborne would have done. http://www.timesonline.co.uk/tol/comment/columnists/guest_contributors/article733821.ece Link to comment Share on other sites More sharing options...
alchresearch Posted June 13, 2011 Share Posted June 13, 2011 he ignored advice to curb his spending. He was like a teenager with a new credit card; he never anticipated the day that credit would stop. Many people anticipated the bust so didn’t squander everything they had during the boom. I think much of the problem was also down to him throwing money around as a sweetener because of the public's opinion and dwindling support of Labour after Blair and the war and ID cards. And of course, foolish Labour voters lapped it up and had their vote bought with promises of new schools and hospitals. Link to comment Share on other sites More sharing options...
mj.scuba Posted June 13, 2011 Share Posted June 13, 2011 This is what George Osborne would have done. http://www.timesonline.co.uk/tol/comment/columnists/guest_contributors/article733821.ece A better education system, invest in R&D, attract inward investment. Glad he is Chancellor. Link to comment Share on other sites More sharing options...
websters gue Posted June 13, 2011 Share Posted June 13, 2011 A better education system, invest in R&D, attract inward investment. Glad he is Chancellor. The Celtic Tiger was Osborne's role model, he sang it's praises, he then had to feed the defenceless kitten 7 Billion's worth of whiskas when it all went wrong! http://www.bbc.co.uk/news/uk-politics-11807769 What does this say about the economic prowess of George Osborne? Link to comment Share on other sites More sharing options...
mj.scuba Posted June 13, 2011 Share Posted June 13, 2011 The Celtic Tiger was Osborne's role model, he sang it's praises, he then had to feed the defenceless kitten 7 Billion's worth of whiskas when it all went wrong! http://www.bbc.co.uk/news/uk-politics-11807769 What does this say about the economic prowess of George Osborne? Read the article. He recognised that a good education system with a well educated population, investment in Research & Development, and a tax regime that attracts inward investment from multinational companies were all important factors for a thriving economy. I see nothing in there that he would need to back track on. Link to comment Share on other sites More sharing options...
Mecky Posted June 13, 2011 Share Posted June 13, 2011 He wasn’t the only person that was responsible but he did play a big part; the UK and the UK banking sector are not small players in the global financial sector. He was also responsible for failing to anticipate the day thing would crash, he deluded himself along with millions of others into thinking there would never be another crash, his biggest claim was that he had eliminated boom and bust. He could have saved during the boom years to counter the effect of the inevitable bust, but he ignored advice to curb his spending. He was like a teenager with a new credit card; he never anticipated the day that credit would stop. Many people anticipated the bust so didn’t squander everything they had during the boom. So if the bank syatem had collapsed under Slaphead Cameron, lets face it, it could have, what would you be saying now? Link to comment Share on other sites More sharing options...
Mecky Posted June 13, 2011 Share Posted June 13, 2011 See thread title, it isn't about whether he's responsible for the global financial crisis, it's about whether he wasted £billions, which without doubt he did. Every government wastes billions of pounds, those that don't accept that are having themselves on. Link to comment Share on other sites More sharing options...
L00b Posted June 13, 2011 Share Posted June 13, 2011 The Celtic Tiger was Osborne's role model, he sang it's praises, he then had to feed the defenceless kitten 7 Billion's worth of whiskas when it all went wrong!The Celtic Tiger is still the role model worth following. It's no different, in principle, from the way Japan surged in the 70s/80s, and the way China is currently surging (as are the other BRIC members). It's tried and tested, but it needs the political will and capital to bring it about, and to see it through. The reasons why the Celtic Tiger effect stopped, are the exact same as those being discussed: personal credit/property bubble FUBAR'd, coupled to the Gvt's downright crass ignorance of even the most basic budget management practices. After all, there was so much (never-never) €s around, why worry, eh? The difference, is that because Ireland is such a small country, the policies were easier to implement, the effects were seen much sooner, the boom was much louder...and the bust was all the more spectacular. It's not (just ) for fun that I keep reminding peeps that Ahern pulled on Cowen the exact same political trick Blair pulled on Brown ("I'll spend all, look glam and be loved by all, and you can have my job when the kitty's bust"). If it wasn't for its incumbent politicians (no different to Labour in that respect), Ireland really would have its pot of gold by now, it'd still be the envy of all (including even the likes of Switzerland), and I'd still be there instead of here (and looking for the next move) Link to comment Share on other sites More sharing options...
Rich Posted June 13, 2011 Share Posted June 13, 2011 And he wonders why most people call him Gordon Clown! Link to comment Share on other sites More sharing options...
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