Osbourne's Excuses

[L00b]

So if its down to Osbourne that we still have AAA rating

It's not solely down to him, or the Gvt (past/present) for that matter.

will you accept that its his fault when we eventually lose it?

And this (and it is coming) won't be solely down to him either, or the Gvt (past/present) for that matter.

Or will you carry on making excuses for him?

No need to make excuses for anyone. But if there is, then everyone will need one (excuse), because everyone has been at the trough, to some extent or other, when the going was good.

 

Osbourne may not have made (some/most of) the right choices, in hindsight. And can't dictate to the global economy, the same as Brown couldn't before him. That's because the UK economy does not exist within a vacuum, as many seem to believe

 

Funny how, when so many on here constantly whinge about the current Gvt's mandate (or alleged lack thereof), I have yet to see anyone on here criticising/attacking the 100% private/unelected financial rainmakers that are the credit rating assessors and 'givers' à la Moody's.

[I1L2T3]

L00b. Osborne does have to take a big share of the blame for where we are now. His actions have destroyed confidence in the economy and choked off demand. He was warned repeatedly.

 

It requires astonishing chutzpah to claim that the problems are now caused by external pressures while simultaneously denying that external pressures caused a lot of the issues post-2008.

 

How many more lies and excuses is the guy capable of to try and deny his blunders.

[f0rd]

They always were.

 

The Tories were committed to match Labour spending all the way up to 2009.

 

The Tories are a bit confused at the moment.

 

On one hand they claim that Labour are 'deficit deniers', and then immediately claim that Labour would be making exactly the same cuts as them!

 

You mean like Ed Balls does here?

 

http://www.youtube.com/watch?v=-8sNKwXM9qo

[L00b]

L00b. Osborne does have to take a big share of the blame for where we are now. His actions have destroyed confidence in the economy and choked off demand. He was warned repeatedly.

I'd argue that this is not the case at all. All that, and more, happened as early as 2008 (if not before, I'd say mid-2007 really...at least that's when I started to speed up 'preparations' for what was coming, and I don't profess to be any smarter than the average, reasonably well-educated guy).

 

What Osbourne has been doing is firefighting to keep the AAA rating and avoid an interest rate hike (which would not just choke off domestic demand, but kill it outright with no chance of resuscitation for a long time). No more, but no less.

 

His actions have probably played a part in delaying a downgrade, the extent of which and for however long only history will tell us, some years from now. The same as it will tell us whether he was right or wrong. Now is far too early to tell -objectively- with any certainty.

 

That's not defending the guy. Just observing, dispassionately, and with reference to how other (comparable) economies are currently doing.

It requires astonishing chutzpah to claim that the problems are now caused by external pressures while simultaneously denying that external pressures caused a lot of the issues post-2008.

That debate has been had umpteen times on here already. Anyway, I don't follow the media rethoric (completely uninterested), just what the Gvt is actually doing.

[I1L2T3]

L00b, don't get confused between what he intended and what has actually happened. He thought that there would be a massive boost in private sector growth. It hasn't happened. It could never have happened. He only delivered half a plan. He forgot the bit about growth for 18 months despite being warned repeatedly. It's a massive blunder. No doubts about it - the AAA rating could have been maintain with a sensible programme of well targeted cuts and a programme to promote growth. It's not right to argue that the preservation of the rating required us to have a flatlining economy.

[mossdog]

One big question to the cloth cappers on here!....................how the hell do you think any government could turn round this massive sinking ship in 18 months?

[mj.scuba]

So if its down to Osbourne that we still have AAA rating, will you accept that its his fault when we eventually lose it?

 

Will have to see what the circumstances are if/when it happens, it would be stupid to say otherwise.

[mj.scuba]

Low BoE interest rates are disastrous for us. It's a completely abnormal situation and although the Tories have taken to celebrating it there is absolutely nothing to be happy about with it. Unless you are financially feckless and higher interest rates would send you under.

 

Low interest rates mean people don't have to pay as much on their mortgages and car loans. If people had to pay more in interest, that reduces their disposable income and depresses demand for other goods and services. While interest rates are low, it means that credit is more affordable to businesses so they can invest in capital etc. So it's not all about the "financially feckless" who would be "sent under" if rates went up.

[Mecky]

Personally I'm grateful to our government for the actions they have taken ensuring we kept a decent credit rating, because if we'd have lost that, interest rates would have gone up, mortgages would have gone up, and lot's more people would have had their homes reposessed.

 

So I'll say again because my post on this matter was deleted without aparrent reason - What will you say when Osbourne has put these crummy measures in place and interest rates, mortgages and home repossessions still go up as is inevitable?

[mossdog]

Low interest rates mean people don't have to pay as much on their mortgages and car loans. If people had to pay more in interest, that reduces their disposable income and depresses demand for other goods and services. While interest rates are low, it means that credit is more affordable to businesses so they can invest in capital etc. So it's not all about the "financially feckless" who would be "sent under" if rates went up.

Meanwhile pensioners who have saved for retirement all there lives have been nailed to the cross!