maxflinn
pfm Member
Sorry I can't figure out how to post this correctly using my phone.
https://www.flickr.com/gp/80717838@N02/5htRd0
https://www.flickr.com/gp/80717838@N02/5htRd0
Joe,
Matthew missed out some important words:-
"and the resulting slowdown may have cost 5% of GDP, or £1,500 for every man, woman and child in Britain".
Nobody knows what would have actually happened.
Another good graph is who the national debt is owed to. This is up to 2012 when debt was just over 1 trillion. A lot is merely owed to the Bank of England!
Another good graph is who the national debt is owed to. This is up to 2012 when debt was just over 1 trillion. A lot is merely owed to the Bank of England!
If a frog had wings it wouldn't bump its ass a hoppin', but it doesn't so it does.
Can anyone explain re the amount owed to the BoE, or is it just "internal" debt?
This is an oft-repeated straw man. I am certainly not saying that Brown caused the crash. I am saying that a budget deficit during the boom made it difficult to apply Keynsian stimulus during the bust. It would be fair to say that we can blame the last Labour government for the need for any austerity measures since.
It is not logically fallacious to argue that the banking crisis, caused by the banks, would have happened, irrespective of the activities of the Brown Govt.
Furthermore, Keynsian Stimulus', as you term it, is precisely what Brown is accused of applying prior to the crash, but is criticised for applying after the crash. You can't have it both ways.
One criticism of Brown was that in the long boom period, the UK was spending quite prolifically and running a deficit
John Humphrys was abysmal this morning. Gideon did his usual thing of not letting the interviewer get a word in edge-ways, and Humphrys seemed quite content to let him get away with it.
A TV debate between the PM and the leader of Her Majesty's Most Loyal Opposition would be a start.What I really want to hear is a debate about what kind of country we want to live in.
A TV debate between the PM and the leader of Her Majesty's Most Loyal Opposition would be a start.
This chap, who you seem currently to quote a lot, seems somewhat non-objective to me.