Supertramp Posted November 3, 2011 Share Posted November 3, 2011 Arguably Osborne is trying to create an artificial bust-boom to create conditions for rapid growth. If I was cynical I would say he's trying to create the boom conditions to coincide with the next election when it is rumoured he expects to take over as PM. The USA did something similar in the 20s. Brutal cuts 1920-21 followed by a massive boom culminating in the mother of all meltdowns in 1929. We're his little experiment in aligning the economic and political cycles. The pain of millions of people is worth it if it boosts his career. Economic cycles are much longer than 5 years though. Link to comment Share on other sites More sharing options...
I1L2T3 Posted November 3, 2011 Share Posted November 3, 2011 Economic cycles are much longer than 5 years though. Different cycles of varying amplitude have been identified by different researchers. But let's image a ten year cycle noticeably on the upswing in 2015 - that could be enough to deliver at least two election victories. Link to comment Share on other sites More sharing options...
Glennis Posted November 3, 2011 Share Posted November 3, 2011 I know enough of the english mentality to know that you like to be hammered and called workshy layabouts. You revel in being called useless and not worthy of a days pay. No other people in the world would tolerate it. Why do you? Are you French, by any chance Link to comment Share on other sites More sharing options...
llamatron Posted November 3, 2011 Share Posted November 3, 2011 Arguably Osborne is trying to create an artificial bust-boom to create conditions for rapid growth. If I was cynical I would say he's trying to create the boom conditions to coincide with the next election when it is rumoured he expects to take over as PM. The USA did something similar in the 20s. Brutal cuts 1920-21 followed by a massive boom culminating in the mother of all meltdowns in 1929. We're his little experiment in aligning the economic and political cycles. The pain of millions of people is worth it if it boosts his career. Either that or they are paying as much as possible off before the credit kings and queens return. Link to comment Share on other sites More sharing options...
JFKvsNixon Posted November 3, 2011 Share Posted November 3, 2011 Arguably Osborne is trying to create an artificial bust-boom to create conditions for rapid growth. If I was cynical I would say he's trying to create the boom conditions to coincide with the next election when it is rumoured he expects to take over as PM. The USA did something similar in the 20s. Brutal cuts 1920-21 followed by a massive boom culminating in the mother of all meltdowns in 1929. We're his little experiment in aligning the economic and political cycles. The pain of millions of people is worth it if it boosts his career. Um, I think your describing something that it already happening. We're in the middle of the meltdown after the boom. Link to comment Share on other sites More sharing options...
I1L2T3 Posted November 3, 2011 Share Posted November 3, 2011 Um, I think your describing something that it already happening. We're in the middle of the meltdown after the boom. We were growing until Osborne got hold of the economy. His actions are making our meltdown worse - there aren't many economists who disagree with that right now. He hopes continued tight fiscal policy will deliver massive deficit reduction that can be followed by a boom that will help deliver conservative victory. I think his experiment is going to not quite come out as he expects. Link to comment Share on other sites More sharing options...
I1L2T3 Posted November 3, 2011 Share Posted November 3, 2011 Either that or they are paying as much as possible off before the credit kings and queens return. Tories had credit booms on their watch too - notably in the 80s followed by a bust. Osborne is lining up another one Link to comment Share on other sites More sharing options...
JFKvsNixon Posted November 3, 2011 Share Posted November 3, 2011 We were growing until Osborne got hold of the economy. His actions are making our meltdown worse - there aren't many economists who disagree with that right now. He hopes continued tight fiscal policy will deliver massive deficit reduction that can be followed by a boom that will help deliver conservative victory. I think his experiment is going to not quite come out as he expects. Was that growth ever going to be sustainable considering the lack of solution to the sovereign debt crisis, do you really believe that we could have increased our borrowing in the current climate? One thing is for certain, austerity programs are defiantly not the cause of this crisis. Link to comment Share on other sites More sharing options...
I1L2T3 Posted November 3, 2011 Share Posted November 3, 2011 Was that growth ever going to be sustainable considering the lack of solution to the sovereign debt crisis, do you really believe that we could have increased our borrowing in the current climate? One thing is for certain, austerity programs are defiantly not the cause of this crisis. Not the primary cause but making it much worse. And yes we might need to borrow. Wait and see is all I can say. Link to comment Share on other sites More sharing options...
JFKvsNixon Posted November 3, 2011 Share Posted November 3, 2011 Not the primary cause but making it much worse. And yes we might need to borrow. Wait and see is all I can say. You are probably right and we do need to borrow a bit more, but the sad fact of the situation is that we can't, contagion is undoubtedly coming to the EU soon and it's imperative that we don't get caught up in it. Link to comment Share on other sites More sharing options...
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