Mecky Posted April 4, 2012 Share Posted April 4, 2012 It's not hypocritical at all. You're casually mixing up individual positions and opinions with the collective vote of twenty million people. What really happened is that a government allowed... nay positively encouraged the collective overstretching of a nation. They did this because it masked their own profligacy. As Brian said; you're all individuals. Just remind us all again what The Boy Blunder said in the clip in the OP Link to comment Share on other sites More sharing options...
I1L2T3 Posted April 4, 2012 Share Posted April 4, 2012 It's not hypocritical at all. You're casually mixing up individual positions and opinions with the collective vote of twenty million people. What really happened is that a government allowed... nay positively encouraged the collective overstretching of a nation. They did this because it masked their own profligacy. As Brian said; you're all individuals. Nothing casual about it. I'm pointing out the hypocrisy of Tory voters who happily participated in the debt build-up and now talk down the government for building up debt. The hypocrisy of people who continued to back a party that did not oppose Labour policies probably because the policies suited them, but now after the event don't agree with the policies despite in many cases having benefited significantly. The hypocisy of people who try to make building up debt seem a uniquely 'Labour' thing when it isn't. Not forgetting of course that the institutions whose debt we have had to buy and guarantee are major benefactors of the Tory party. Link to comment Share on other sites More sharing options...
Tony Posted April 5, 2012 Share Posted April 5, 2012 But again I1L2T3 you're mixing up different things. There's nothing wrong with debt and it's not hypocritical to have it. Bad debt is what you're talking about, not debt. That said, I'm not aware that bad debt has any particular political flavour, but perhaps you can point us at the research on that aspect? Link to comment Share on other sites More sharing options...
I1L2T3 Posted April 5, 2012 Share Posted April 5, 2012 But again I1L2T3 you're mixing up different things. There's nothing wrong with debt and it's not hypocritical to have it. Bad debt is what you're talking about, not debt. That said, I'm not aware that bad debt has any particular political flavour, but perhaps you can point us at the research on that aspect? Debt is what drives our economy I agree. But I'm not mixing anything up - have a think about where house prices accelerated most quickly, where multiples of income required to buy a house are highest. What constituencies are they? They're down south on the whole. In a lot of Tory constituencies. Nice to see the Tory party defending those people at the time. They went along with the house price boom. It suited them. Hypocrites basically. Link to comment Share on other sites More sharing options...
truman Posted April 5, 2012 Share Posted April 5, 2012 Probably to the same place as your other username - Wor Jackie! I don't have any other user name....you have me mixed up with someone else I think.. Link to comment Share on other sites More sharing options...
Jim Graham Posted April 5, 2012 Share Posted April 5, 2012 And then their leader (Tony Blair) went on to work for one of them (JP Morgan). And he got Blair Jnr a job at one of the top banks as well. Link to comment Share on other sites More sharing options...
Jim Graham Posted April 5, 2012 Share Posted April 5, 2012 The way I see it is that the last Labour government were deliberatley soft on the "city", they allowed the city to flurish to pay for the public sector and welfare system that Labour were building up, keeping both those at the bottom and the top of society happy...it was a formula that seemed to work, Blair won election after election, and perhaps it could have continued if not for "international events" cocking it all up. What international events would those be? A bit closer to home RBS bought a company that was making massive losses with money they didn't have (£70bn). Brown and his regulators nodded the deal through then bailed them out with tax payers money when it all went TU. That was the genius of Labour. Link to comment Share on other sites More sharing options...
Mecky Posted April 5, 2012 Share Posted April 5, 2012 What international events would those be? A bit closer to home RBS bought a company that was making massive losses with money they didn't have (£70bn). Brown and his regulators nodded the deal through then bailed them out with tax payers money when it all went TU. That was the genius of Labour. Have you ever wondered why you have never had any friends? Link to comment Share on other sites More sharing options...
L00b Posted April 5, 2012 Share Posted April 5, 2012 Let us not forget George Osborne held Ireland's Celtic Tiger in high regard in 2006 and wanted us to follow them.They were then, and still are, an economic model worth following. And we are (at long bloody last!) The 'problem' and 'symptoms' of Ireland were exactly the same as the UK's: (I) It p*ssed up all of the gains of the boom years against the wall in a mass orgy of public spending mismanagement as fast as it could, and faster still. (2) Individuals could never enough credit, such was the sustained, meteoric rise of paper gains on real estate. And (3) banks were wallowing in it all up to their ears, buying into the real estate bubble in a really large and self-fulfillingly prophetic way, never bothered about credit worthiness. In 2005, Bank of Ireland was ready and willing to give me a 100% mortgage for €700k, with a good word about me from my employer...I'd not even been in the country a year, and suffice to say that mortgage amount was a double-digit multiple! I told'em at the time they were completely nuts You had to be there and live it, to truly appreciate the extent of it. As in, e.g. buy a car on tick (at a vastly over-inflated price relative to the UK, due to local tax regime) and change it every year for the latest year plate to keep up with the Joneses. Yes, really. No, I am not exaggerating. If my eyes hadn't been opened to the coming crash before moving there, they sure got to be, as wide as they could get, while living there! But that's political acts and consequences, really - mismanagement of a good model and the assets it produced. They do not impair, nor invalidate, the economic model, which was, and remains, very sound. Link to comment Share on other sites More sharing options...
Jim Graham Posted April 5, 2012 Share Posted April 5, 2012 Have you ever wondered why you have never had any friends? Abuse? No witty comeback? Looks like I scored again. Link to comment Share on other sites More sharing options...
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