No Tories crowing about today's economic news then -manufacturing output stalling, pound weakening in response -it really is a big lie that Tories are economic competents, reality is they have encouraged a consumer boom by inflating the housing market, printing money and billowing wind!
Incredible how they've been able to propagate that myth for so long. It helps having such a rabidly right wing media I suppose, but the Tories greatest achievement has been in getting several patent falsehoods accepted as fact. Myth no 1) It was overspending by the Labour Government that caused the economy to collapse. That's a nonsense, a toxic debt problem originating in the US housing market led to a global banking collapse. In effect the world lost confidence in the promisary nature of money. Myth no 2) The Tories inherited a budget deficit caused again by Labour's overspending. Another nonsense. The budget deficit was almost entirely due to Gordon Brown's prompt response in underwriting the British banking sector. Had he not done so the consequences, immediately after the US govt stood back and allowed Lehman Bros to go to the wall, would have been catastrophic. Myth no 3) The Tory government's austerity medicine has led the country painfully back to growth. This is economic illiteracy of the highest order. All the lessons of the great depression have been forgotten and ignored, not just in the UK but throughout Europe. It is simply staggering that anyone still believes austerity can lead to growth. Austerity inhibits growth, and there is a wealth of historic evidence to that effect. But in modern Europe it's like no one has heard of John Maynard Keynes or FDR Roosevelt. Myth no 4) Cutting spending will reduce the deficit. Utter bollocks. Governments, like businesses, have to borrow in order to grow. This government is utterly clueless when it comes to managing the economy. History will judge them as a bunch of idiots, but unfortunately in the shortterm they have been allowed to win the argument. But we ain't seen nothing yet. When David Cameron, as I am sure he will, cobbles together the necessary stitch up that allows him to stay in Downing Street, we will then have to endure several years of the Tory party tearing itself apart over Europe and pushing our country ever further to the margins of international influence. With massive doubts over our future in Europe, and the party of government in open civil war, prepare for the economy dropping off a cliff.
All you state is true archers, having five rich Tories control most of media is a help, but fundamentally the rich have managed to get the poor to vote to maintain this situation, mainly through fear and ignorance -media plays vital role in distortion -despite that they will only get one in six adults supporting them -yet the rigged system that they call democracy can give them carte blanche to carry on! Personally the best we can hope for is the feeble Labour party allied with those nationalists up north -who despite being untrustworthy, should ensure a more left leaning regime than a Labour one .
What is this working class of which you speak? Prior to the "banking crisis" where did all the money from the good economic years go under labour?
Much of it went on improving an infrastructure that had been criminally neglected and run down by the previous government. Schools and hospitals were literally falling to pieces in 1997 and it took over a decade to repair those crumbling institutions. But I repeat; the budgetary deficit came about not because of overspending, but because Gordon brown wrote a blank cheque to keep the banking sector afloat. Gideon Osbourne opposed that policy at the time. had Gideon and the Tories been in power in 2008 we would have seen a run on the banks, cash points emptying, and financial paralyses of a kind not seen since 1929.
This is all very interesting. I don't bother to listen to the politicians arguing on TV; I just read this thread to get a balanced view, without any interruptions
Here is an interesting (for me) question for you very knowledgeable people. Do you think that the results of the election and/or the eventual government formed will significantly affect the strength/weakness of the GB Pound against the Euro? If so what are your views on the various scenarios?
no ron --because ultimately the economy is weak , based on low wages, low productivity , reliance on 'financial instruments' lol -service 'indusrties' and owned by multi national corps who have no inherent interest in long term planning- even at a capitalist level --so the govt is only the dummy in the shop window--all the tailoring goes on in the back--as archers says , the tories are ideologocally disposed to attacking the poor , keep them in their place, dont want to share wealth , even though by increasing everones wealth it benefits all , they wish to have what they hold and damn the rest -all keynisian economists will reject this as infantile and ultimately ruinous ---trouble is Labour only wants a few crumbs off the top table and lack backbone to take any more --so the foreign exchanges will react to a number of factors , but ultimately if the economy is weak then you can expect a weaker pound , as the euro zone is also in crisis , this may not happen for a while, but the US dollar is strengthening at the moment --even though they are the worlds biggest debtors ! Crazy system capitalism --its reached the end of its usefullness in many respects, it cant provide for most of the world, and its in crisis inits traditional centres of power ......intersting times ....
Its fairly sad to say but I feel somes hatred of the Conservatives blinds their judgement! If only we had some gold left!!!
not at all --its called class consciousness -if you are super rich you would be allied with the tories, if you are a worker ,unemployed, on low wages, struggling to get by --your not really going to have much in common with the intersts of the rich--the trickle down myth doesnt carry much credibility once you are over 12 years old, bit like santa and elves and beardy man in the sky.......
But does it really make all that much difference? If the Tories win, is the UK going to any different in 5 years, than if Labour wins? I think not. It'll be the same old machine careering down the highway no matter who's at the wheel. The monster that's the global economy is pretty a power unto itself. We can pull our hair out and point the nasty finger at the other side, and vote how we want, but little will change. It's nice to think that it will though.
people have more expectations from a labour govt , but yes cyc, they are no more in control than we are of the weather--that would take a globally planned economy --thats ultimately is the only thing that can save the human race, its a Trotskist view.......
that would take a globally planned economy - YET you are happy to blame the Tories for all that they do! Laughable truly laughable! Can you get me citizenship in your utopian idealist world....................................
better to fight for an ideal than settle for exploitation and misery--that 90% of population endure....
I My greatest fear is that a Tory government will continue moving the UK towards the exit doors of the EU. By promising a referendum on EU membership in order to placate the far right in his own party, Cameron has shown he is prepared to put self interest before the national interest. All politicians do this but not normally to this extent. At the very least a Tory victory will mean 2 years of uncertainty and declining influence for the UK in Europe.
By all accounts there will not be a Tory victory; nor a Labour victory. So it's a case of who will form a coalition with either to form a government. I really have no idea but I would bet on 1. Tory/Lib Dem 2. Labour/Lib Dem 3. Tory/UKIP 4. Labour/UKIP Is 2 the only one offering stability in Europe? I'm not keen on it being left to the public to decide whether or not we stay in Euorpe. As if most of them could take a long term balanced view?????? . It's a cop out for any Government and, in my view, irresponsible. I wonder what the public would vote for if there was a referendum on whether we should pay only half the tax we currently pay.
Can't pretend to be up on politics RB but I thought Scotland wanted out of Europe full stop. Surely a Lab/SNP coalition would lead to an independent Scotland which in turn would lead to an exit from Europe. Is that what you want? My first priority would be for a strong economy as, without that there is less choice. How that is achieved I haven't a clue.
not what i want ron -its a scenario that is very likely--the scots dont want out of europe--they want more control of their own affairs -federalism like germany has would be no bad thing --the only party that is anti eu is the nutters who follow farage-- the reality is a compromise would be reached --the scare *****ring is trying to prevent this from occuring --but virtually all of scottish seats are going to be SNP -making them the third biggest party in the big house --and crucially able to form a minority govt with millipede --they wont with cameron --maybe no one will form one and another election will be called like what happens in europe a lot ...
Carrot cake at 89p (half price) in Lidl until 20.00 this evening; same cake costs £2.69 in Sainsbury's. As they say everything is political!!
