WeX Posted October 5, 2011 Share Posted October 5, 2011 Apologies if someone's already posted this link but just 2 years ago the figures then just released showed a sixth consecutive quarterly economic contraction in the UK. At least today is on the right side of zero. If there's one thing that puts me off voting Labour it's Labour supporters saying how bad things are now without mentioning they were far worse under them. How they expect to sort things out while denying reality can only be guessed at. http://news.bbc.co.uk/1/hi/8321970.stm Exactly. Labour have no alternative and even in their widely ignored conference they had little to bring to the discussion other then lets spend more money we dont have. Do the Labour fans really believe things would be better if we had Miliband and Ed Balls at the helm? God save us if they ever did get a chance. Link to comment Share on other sites More sharing options...
puisseguin Posted October 5, 2011 Share Posted October 5, 2011 Exactly. Labour have no alternative and even in their widely ignored conference they had little to bring to the discussion other then lets spend more money we dont have. Do the Labour fans really believe things would be better if we had Miliband and Ed Balls at the helm? God save us if they ever did get a chance. The good news is we still have our AAA credit rating and are not facing the jacked up interest rates that are crippling several other European economies. This is how the UK economical outlook was being reported just before the election. http://www.independent.co.uk/news/business/news/britain-could-lose-cherished-aaa-credit-within-12-months-1933967.html Britain 'could lose cherished AAA credit within 12 months' Investment chief at Pimco warns of disaster facing UK's public finances and banking By Sean O'Grady, Economics Editor Friday, 2 April 2010 One of the world's most powerful investment houses has given notice that Britain's cherished AAA credit rating could be lost within a year, with disastrous consequences for the public finances and the stability of the financial system. Scott Mather, the head of global portfolio management at the world's largest bond investor Pacific Investment Management Co (Pimco), also said the eurozone's potential joint bailout of Greece with the International Monetary Fund would be ineffective. On Monday, there was a marked sell-off of Greek government debt and an auction of bonds on Tuesday went badly. The spread between the yield on Greek bonds and German Bunds soared again to 340 basis points. Pimco has previously said that Greece's "initial conditions and demographics are abominable". Pimco is reducing the weight of UK, US and European sovereign debt in its portfolios. "Miracles are needed in the next six months in order to keep economic growth in the developed world," Mr Mather said. Pimco stated last month that it was keeping its negative outlook on British gilts because of fears of inflation and a further deprecation of sterling. Mr Mather's intervention is the latest in a series of blows to hopes that Britain will be able to retain its AAA rating. A fortnight ago, the ratings agency Fitch said it was "uncomfortable with the fiscal adjustment path set out by UK authorities" and called for a "more credible and stronger fiscal consolidation plans during 2010". Moody's, meanwhile, said Britain had moved "substantially" closer to losing its AAA status. Link to comment Share on other sites More sharing options...
I1L2T3 Posted October 5, 2011 Share Posted October 5, 2011 bottom line is we now know for sure neither party has economic credibility. I take serious issue with the idea that the current problems are caused by out of control spending. That's not the full picture. When we see the carnage from the last government and the mess this one is causing we should be taking all politicians to task. Link to comment Share on other sites More sharing options...
wednesday1 Posted October 5, 2011 Author Share Posted October 5, 2011 Apologies if someone's already posted this link but just 2 years ago the figures then just released showed a sixth consecutive quarterly economic contraction in the UK. At least today is on the right side of zero. If there's one thing that puts me off voting Labour it's Labour supporters saying how bad things are now without mentioning they were far worse under them. How they expect to sort things out while denying reality can only be guessed at. http://news.bbc.co.uk/1/hi/8321970.stm Get your facts straight. Two years ago we were still in recession called the credit crunch, but we were coming out of it, that is the whole point of what I'm saying. It is the ConDems who are to blame for growth going back into reverse. They inherited an improving situation as growth was 0.6%. Link to comment Share on other sites More sharing options...
Big time Posted October 5, 2011 Share Posted October 5, 2011 the current mess we are in is primarily caused by Blair and Brown stuffing the public sector to buy votes and quite literally piddling all the money away. They were at it well before the subprime crisis and kept on doing it for reasons they only knew. To destroy the economy on purpose. They are the enemy within. Link to comment Share on other sites More sharing options...
taxman Posted October 5, 2011 Share Posted October 5, 2011 Well according to Smarmy Dave people just need to "show the world some fight". Does that mean we can punch the smug git in the face? Link to comment Share on other sites More sharing options...
JFKvsNixon Posted October 5, 2011 Share Posted October 5, 2011 bottom line is we now know for sure neither party has economic credibility. I take serious issue with the idea that the current problems are caused by out of control spending. That's not the full picture. When we see the carnage from the last government and the mess this one is causing we should be taking all politicians to task. Have you considered the possibility that there isn't a workable short term plan, and that there may not even be a credible medium term plan? Link to comment Share on other sites More sharing options...
I1L2T3 Posted October 5, 2011 Share Posted October 5, 2011 Have you considered the possibility that there isn't a workable short term plan, and that there may not even be a credible medium term plan? The options: 1. hard reset 2. softer, managed reset Take your pick. Unfortunately neither will be selected if they can still keep kicking the can down the road. Link to comment Share on other sites More sharing options...
Mecky Posted October 5, 2011 Share Posted October 5, 2011 Well according to Smarmy Dave people just need to "show the world some fight". Does that mean we can punch the smug git in the face? Perhaps he's planning a war, that would get rid of a few million people and kickstart the economy Link to comment Share on other sites More sharing options...
xenia Posted October 6, 2011 Share Posted October 6, 2011 I think it grossly unfair that the coalition can be, in any way, critiscised regarding the state the country is in. Infact compared to most western countries we are not doing too badly. The real test will be in 2015 when the next election is due. If by that time the deficit is substancially down then they must be judged to be successfull. If they eliminate it altogether then Cameron, Clegg and Osborne will and should receive the grateful thanks of the British people and be re elected. If the Labour party wishes to be re elected it must get rid of the guilty men and women such as both Millibands, Balls, and all those who served in the Brown government. For they are jointly guilty of squandering the wealth of the nation built up by the working men and women of this country. If Red Ed thinks that by cosying up to the trade unions and taking the party further left he will get elected then he is a poor judge of the charcter of the British people. Link to comment Share on other sites More sharing options...
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