The next Tory recession?

[El Cid]

The national debt has almost doubled since 2010 [LINK]

 

 

THERE HAS BEEN NO AUSTERITY!

 

The national debt rose because the Tories shrank the economy, it was growing when they gained power.

[unbeliever]

The national debt rose because the Tories shrank the economy, it was growing when they gained power.

 

That's a flat out lie.

Opinions are one thing, but you can't just make things up.

 

---------- Post added 26-08-2015 at 08:28 ----------

 

 

If the UK state was over-borrowed then what about now? Osborne has doubled our national debt. The UK wasn't badly over spending until it had to start bailing out banks.

 

Our recession was worse because of our over-reliance on the financial sector but banks all over Europe had to be rescued.

 

Regulation was inadequate agreed but once again the same everywhere.

 

Of course the debt has gone up. That's what happens when you start with a massive deficit and bring it down gradually though growth rather than swiftly with deep cuts.

 

Even the Labour party itself is finally accepting responsibility for this stuff. If they admit it, why do you still deny it?

They'll never be electable until they admit their mistakes and convince people that they've learned from them. You're not doing them any favours.

[Obelix]

You're mixing things up. Labour spending too much did not cause the global financial crisis.

 

O not this again.

 

Show me where I said that the worldwide recession was Labours fault. Go on show me.

 

You can't. because I NEVER SAID IT. You trot this out like some form of shield and go "ooh look it was a world crash it wasnt' our fault ooh stop being mean and saying it was Labours fault."

 

NO ONE is saying it's Labours fault. You got that?

 

What we are saying is that for years, in fact almost a decade, despite warning to the contrary from the IMF, from the World Bank, from the CBI from almost every corner of the known world everyone was telling Brown to stop piddling money away. He bought votes by generating none jobs, he failed to save when times were good in fact he borrowed when times were good. He wasted money hand over fist - sold the gold reserves at rock bottom prices in fact sold almost everything he could get his grubby little mitts on just so he could hang on long enough to get Blair to go and be PM himself.

 

All that - to end up being the worse PM we've had in centuries and your party let him do it with out nary a murmur because he banged on about Auntie Prudence (remember her - whatever happened to chuffing financial prudence) he banged on about that and the "end of boom and bust" which everyone know was complete cobblers.

 

Brown and that little mendacious twerp Balls who used to whisper in his ear sweet nothings completely screwed this country over and the Labour party let them do it.

 

That is not something that is easily forgotten, not should it ever be. Trust Labour with anything more valuable than a sixpence? I shouldn't think so.

 

Labour under Brown managed to screw us into the ground so badly, that when the recession arrived there was a bare cupboard such that it would make Mother Hubbard look wealthy. They managed to do is so badly that the fallout for it is being felt two parliaments later and will require another one just to fix it. Fifteen years of pigging about just to sort out the vainglourious social engineering that they tried.

 

Brown was rightly remembered as the most reviled PM we've had. That's nothing compared to just how unbelievably mindnumbingly, shockingly incompetantly bad a Chancellor he was.

 

So when you come in and try to deflect criticism away just remember what you are being an apologist for, because he doesn't deserve anything like your help, and also consider what the general feeling is towards historical revisionists.

 

---------- Post added 26-08-2015 at 09:31 ----------

 

The national debt rose because the Tories shrank the economy,

 

Prove it.

 

Go on. I dares you.

Edited August 26, 2015 by Obelix

[Eric Arthur]

How did Labour cause a world recession?

 

Did Labour have regulatory control over Lehman, Fannie Mae, Freddie Mac, AIB and all the institutions that triggered the crash in 2008? Did Labour force millions of poor Americans to take on sub-prome mortgages? Did Labour have control over the Fed when it let Lehman go bust triggering a confidence/liquidity crisis?

 

Nope

 

Since when was the USA or the UK the World? There wasn't a worldwide recession and lots of countries did very well thank you while the USA and UK and a few others were going down the toilet.

Edited August 26, 2015 by Eric Arthur

[truman]

The national debt rose because the Tories shrank the economy, it was growing when they gained power.

 

How much of that growth was created by Labour spending money they hadn't really got? Genuine question..

[El Cid]

Prove it.

 

Go on. I dares you.

 

Shadow chancellor George Osborne said in 2010 before the election - ''early action'' was needed on the deficit to avoid a ''Greek-style budget crisis''.

 

How do you think that would affect confidence, and spending by ordinary people and businesses?

It depressed growth, because they thought the economy was almost "Greek-style"?

 

---------- Post added 26-08-2015 at 10:12 ----------

 

How much of that growth was created by Labour spending money they hadn't really got? Genuine question..

 

Cannot disagree, but create fear, and you have a down-turn.

[Obelix]

Shadow chancellor George Osborne said in 2010 before the election - ''early action'' was needed on the deficit to avoid a ''Greek-style budget crisis''.

 

How do you think that would affect confidence, and spending by ordinary people and businesses?

It depressed growth, because they thought the economy was almost "Greek-style"?

 

---------- Post added 26-08-2015 at 10:12 ----------

 

 

Cannot disagree, but create fear, and you have a down-turn.

 

Prove it! Come on lets see some proof then? Or does it have a different meaning in Wakefield? I'm sure it doesn't but I might be wrong!

[unbeliever]

Shadow chancellor George Osborne said in 2010 before the election - ''early action'' was needed on the deficit to avoid a ''Greek-style budget crisis''.

 

How do you think that would affect confidence, and spending by ordinary people and businesses?

It depressed growth, because they thought the economy was almost "Greek-style"?

 

Absolute nonsense. The sovereign debt crisis in the UK was well known. It's not like it was a secret. The prospect of a government actually prepared to do something about it increased confidence.

 

Where are you getting this from? Nobody in their right mind believes any of this.

 

---------- Post added 26-08-2015 at 10:15 ----------

 

 

Cannot disagree, but create fear, and you have a down-turn.

 

Labour spent their first couple of years in opposition doing nothing but talk down the economy. "Too far and too fast", "Double-dip recession". Didn't happen did it?

Trying to blame the words of the opposition for the state of the economy is the most ridiculous thing I've heard for a long time, and I read the Green party manifesto.

Edited August 26, 2015 by unbeliever

[El Cid]

Labour spent their first couple of years in opposition doing nothing but talk down the economy. "Too far and too fast", "Double-dip recession". Didn't happen did it?

 

Just carry on attacking Labour, I do my best to remain neutral and say what I think.

[unbeliever]

Just carry on attacking Labour, I do my best to remain neutral and say what I think.

 

I will thanks.

 

If a Conservative shadow chancellor is capable of creating a recession by saying bad things about the state of the economy and/or public finances. How is it that a Labour shadow chancellor cannot do the same?