Dover.uk.com
If this post contains material that is offensive, inappropriate, illegal, or is a personal attack towards yourself, please report it using the form at the end of this page.

All reported posts will be reviewed by a moderator.
  • The post you are reporting:
     
    Look - the fact is that Brown was deluded and he made the mess the UK is in through the following specific measures:

    1/ changing the system of banking regulation - that is at the core of the bank bail-out problem. Not all the banks in the world were as badly hit as ours, far from it.

    2/ messing up the inflation brief for the Bank of England. That resulted in the levels of credit in the economy being ignored in the setting of interest rates, hence the credit boom and the housing bubble.

    3/ reducing the incentives for savers. That left people more vulnerable in the downturn with no savings and prior to that having to rely too much on credit.

    4/ he failed to kep control of government spending. Debt has to be repaid even by Governments. The time to do that is during periods of growth but Brown did not do that, he kept spending and borrowing. The Government lived above its means. Yes Greece did the same and they have the added disadvantage of being in the Euro, that merely illustrates the fine tightrope that we are walking thanks to Brown, we could go the same way as Greece if we dont get a firm grip on spending.

    5/ his tax policies undermined business and also the amount of red tape that he piled on business added to their costs.

    There you are, five major reasons why the cyclical downturn was worse in the UK than elsewhere. Brown may have thought he had banned boom and bust but that merely illustrates his delusion and incompetence.

    I can provide many more examples of how completely useless he was over pensions to the sale of gold.

    Can you provide argument to the contrary rather than bland assertions that carry no weight of evidence?

Report Post

 
end link