snakehips 0 Posted June 14, 2009 Share Posted June 14, 2009 From BBC. UK's economy is 'best in Europe' Paul Krugman Professor Krugman said that the UK had stabilised its banking system The UK is in the best shape out of all the economies in Europe, according to a leading economist. Paul Krugman, who won the 2008 Nobel prize for economics, said that the UK's economic policies had been "pretty good" and called them "intelligent". The government also deserved more credit for its policies, he said in an interview with The Observer newspaper. His comments come at the end of a week when the pound has risen to its highest level this year. But Professor Krugman believes the earlier fall in the value of sterling may have helped the UK. "The UK has achieved a lot of monetary traction in the way that no one else has through the depreciation of the pound. In effect, you've carried out a successful beggar-my-neighbour devaluation," he said. "I think the UK economy looks the best in Europe at the moment." The government's policies had managed to stabilise the banking system, he said. He added: "If the government can hold off having an election until next year, Labour might well be able to run as 'we're the people who brought Britain out of the slump'." I honestly believe that we were lucky Gordon Brown was in the Government at the time of the financial crisis. Say what you like about him, but I believe he is tip top when it comes to fiscal affairs. Forget Alistair Darling, he had nothing to do, as it was Brown who made the all the tough decisions. Yeah, Brown must take his share of the blame in letting the financial sector to get out of control, but I wouldn't have wanted any other person in control of the situation when it began to blow up last Octber, and onwards, than Gordon Brown. The thought of anyone else making the decisions is a bit scary imo. But we're not out of the woods yet, and despite the current opinion polls deficit, I would urge the voters to return G.Brown to office at the next election. For me, he's the best man for the job. Link to comment Share on other sites More sharing options...
Happy Face 29 Posted June 14, 2009 Share Posted June 14, 2009 I mentioned in a thread on Friday how much I like Krugman. Link to comment Share on other sites More sharing options...
ewerk 30385 Posted June 14, 2009 Share Posted June 14, 2009 Tbf Brown has gotten a lot of undeserved shit imo. What exactly has he done wrong? And what would anyone else do differently? Link to comment Share on other sites More sharing options...
LeazesMag 0 Posted June 14, 2009 Share Posted June 14, 2009 chez given is looking..... what do you think of this ? Link to comment Share on other sites More sharing options...
Happy Face 29 Posted June 14, 2009 Share Posted June 14, 2009 Tbf Brown has gotten a lot of undeserved shit imo. What exactly has he done wrong? And what would anyone else do differently? Deregulated the shit out of the system. Gave control over the base rate to the banks. Sold off all the gold reserves. Spent money like it was going out odf fashion. Repeated over 100 times in the house of commons "the end of boom and bust" ...but apart from that Link to comment Share on other sites More sharing options...
ChezGiven 0 Posted June 14, 2009 Share Posted June 14, 2009 Our all sector output index has risen above 50, its the highest index of the top 5 economies and suggests we are beginning to expand rather than contract more slowly. (just had a read of his blog ) Link to comment Share on other sites More sharing options...
ChezGiven 0 Posted June 14, 2009 Share Posted June 14, 2009 chez given is looking..... what do you think of this ? Have a look at this on his blog, certainly looks promising. http://krugman.blogs.nytimes.com/2009/06/0...british-bounce/ Link to comment Share on other sites More sharing options...
Dr Kenneth Noisewater 0 Posted June 14, 2009 Share Posted June 14, 2009 By the time the man on the street can notice the benefit the conservatives will be in and able to take the credit. Link to comment Share on other sites More sharing options...
ewerk 30385 Posted June 14, 2009 Share Posted June 14, 2009 Tbf Brown has gotten a lot of undeserved shit imo. What exactly has he done wrong? And what would anyone else do differently? Deregulated the shit out of the system. Gave control over the base rate to the banks. Sold off all the gold reserves. Spent money like it was going out odf fashion. Repeated over 100 times in the house of commons "the end of boom and bust" ...but apart from that Would the Conservatives have done anything differently? And I was referring to his performance as PM rather than Chancellor. Link to comment Share on other sites More sharing options...
Renton 21404 Posted June 14, 2009 Share Posted June 14, 2009 Tbf Brown has gotten a lot of undeserved shit imo. What exactly has he done wrong? And what would anyone else do differently? My thoughts exactly, have been for a while. I guess what 'he's done wrong' is he's been a victim of poor PR and unlucky that the global recession coincided with his turn as PM. He deserves a lot of credit for his proactive stance though, which he won't get. Link to comment Share on other sites More sharing options...
Happy Face 29 Posted June 14, 2009 Share Posted June 14, 2009 Tbf Brown has gotten a lot of undeserved shit imo. What exactly has he done wrong? And what would anyone else do differently? Deregulated the shit out of the system. Gave control over the base rate to the banks. Sold off all the gold reserves. Spent money like it was going out odf fashion. Repeated over 100 times in the house of commons "the end of boom and bust" ...but apart from that Would the Conservatives have done anything differently? Probably none of the last 3 Link to comment Share on other sites More sharing options...
NJS 4375 Posted June 14, 2009 Share Posted June 14, 2009 I instinctively want to defend Brown/new labour and sometimes I can setting aside what I see as the almost complete waste of 12 years of power in terms of doing actual good. What I would say on the economy is I feel a bit sorry for him - imagine if he had said "Right I'm going to completely regulate the city and stop them making billions just for the hell of it" as many have suggested - he would have been absolutely slaughtered. On his spending I think you should remember thats what generally was in the manifestos - if the Tories had been in the money would still have "gone" in the form of tax cuts - probably leading to an even more over-inflated property market than the one which caused the crunch. Link to comment Share on other sites More sharing options...
Fop 1 Posted June 14, 2009 Share Posted June 14, 2009 Tbf Brown has gotten a lot of undeserved shit imo. What exactly has he done wrong? And what would anyone else do differently? He milked a LOT of praise for doing nothing right too - it just the flip side of the coin. Although he has done a lot wrong in the good times too (pensions, gold etc.), and remember in a few years we are going to have to start paying for this.... it won't look so rosy when those spending cuts start to bite and the taxes start to rocket. Link to comment Share on other sites More sharing options...
Fop 1 Posted June 14, 2009 Share Posted June 14, 2009 Actually reading up on the fella it's likely all to do with his politics......... either that or Brown bribed him like Enron allegedly did. Link to comment Share on other sites More sharing options...
ChezGiven 0 Posted June 14, 2009 Share Posted June 14, 2009 Actually reading up on the fella it's likely all to do with his politics......... either that or Brown bribed him like Enron allegedly did. He just made up the 'all sector output index' data? Link to comment Share on other sites More sharing options...
Fop 1 Posted June 14, 2009 Share Posted June 14, 2009 (edited) Actually reading up on the fella it's likely all to do with his politics......... either that or Brown bribed him like Enron allegedly did. He just made up the 'all sector output index' data? How does that mean he can't be biased by beliefs (or carrots ), in what he says and does? Or do you think there won't be spending cuts and further problems in the future (even if all he's says is true)? Edited June 14, 2009 by Fop Link to comment Share on other sites More sharing options...
Meenzer 15449 Posted June 14, 2009 Share Posted June 14, 2009 Tbf Brown has gotten a lot of undeserved shit imo. What exactly has he done wrong? And what would anyone else do differently? Deregulated the shit out of the system. Gave control over the base rate to the banks. Sold off all the gold reserves. Spent money like it was going out odf fashion. Repeated over 100 times in the house of commons "the end of boom and bust" ...but apart from that Don't forget "based the country's entire economic 'miracle' on an unsustainable house price increase Ponzi scheme" Link to comment Share on other sites More sharing options...
Park Life 71 Posted June 14, 2009 Share Posted June 14, 2009 Capitalism will fail. Link to comment Share on other sites More sharing options...
The Fish 10793 Posted June 14, 2009 Share Posted June 14, 2009 Capitalism will fail. nahh, people will fail capitalism, just as they do communism, socialism, Marxism, egalitarianism, fascism or anything else really. breaking news; we're rubbish. Link to comment Share on other sites More sharing options...
Park Life 71 Posted June 14, 2009 Share Posted June 14, 2009 Capitalism will fail. nahh, people will fail capitalism, just as they do communism, socialism, Marxism, egalitarianism, fascism or anything else really. breaking news; we're rubbish. Link to comment Share on other sites More sharing options...
Kevin Carr's Gloves 3860 Posted June 15, 2009 Share Posted June 15, 2009 Brown has to take a lot of blame for the de regulation of the banking system and the failure of the FSA to stop the banks making false profits on selling loans which were more toxic than Chernobyl. When people were short selling they stopped them and told them not to do it again. They then removed the laws curtailing the short selling and quel suprise they started doing it again. This meant that Billions of tax payers money had to go into the banks millions of which went straight back out again in the form of bonuses to the people who caused all the bother. Also remember this is the man who decided to cripple the lowest paid in the job market by doubling their basic tax rate. Some people on here seem to have rose tinted memories. Link to comment Share on other sites More sharing options...
Renton 21404 Posted June 15, 2009 Share Posted June 15, 2009 Brown has to take a lot of blame for the de regulation of the banking system and the failure of the FSA to stop the banks making false profits on selling loans which were more toxic than Chernobyl. When people were short selling they stopped them and told them not to do it again. They then removed the laws curtailing the short selling and quel suprise they started doing it again. This meant that Billions of tax payers money had to go into the banks millions of which went straight back out again in the form of bonuses to the people who caused all the bother. Also remember this is the man who decided to cripple the lowest paid in the job market by doubling their basic tax rate. Some people on here seem to have rose tinted memories. Well he's also (partly) responsible for introducing the minimum wage and working tax credits, and investing a fortune in the NHS and education (not all which has been wisely spent, admittedly). So perhaps some people here have selective memory. I'm not really familiar with the basic tax rate in the low paid, but I'm pretty sure the way you've worded that is misleading at best. Still, you're an Alex Salmon man iirc so no surprises there. Link to comment Share on other sites More sharing options...
Fop 1 Posted June 15, 2009 Share Posted June 15, 2009 Brown has to take a lot of blame for the de regulation of the banking system and the failure of the FSA to stop the banks making false profits on selling loans which were more toxic than Chernobyl. When people were short selling they stopped them and told them not to do it again. They then removed the laws curtailing the short selling and quel suprise they started doing it again. This meant that Billions of tax payers money had to go into the banks millions of which went straight back out again in the form of bonuses to the people who caused all the bother. Also remember this is the man who decided to cripple the lowest paid in the job market by doubling their basic tax rate. Some people on here seem to have rose tinted memories. Well he's also (partly) responsible for introducing the minimum wage and working tax credits, and investing a fortune in the NHS and education (not all which has been wisely spent, admittedly). So perhaps some people here have selective memory. I'm not really familiar with the basic tax rate in the low paid, but I'm pretty sure the way you've worded that is misleading at best. Still, you're an Alex Salmon man iirc so no surprises there. NHS is basically screwed before talking about spending cuts isn't it? Don't want to think what it will be like with them. Link to comment Share on other sites More sharing options...
snakehips 0 Posted June 15, 2009 Author Share Posted June 15, 2009 Yes, Brown has to shoulder a lot of blame, but the thought of Cameron and George Gideon Osborne being in charge at such a time of national importance is not one that fills me with confidence. Link to comment Share on other sites More sharing options...
ChezGiven 0 Posted June 15, 2009 Share Posted June 15, 2009 Brown has to take a lot of blame for the de regulation of the banking system and the failure of the FSA to stop the banks making false profits on selling loans which were more toxic than Chernobyl. When people were short selling they stopped them and told them not to do it again. They then removed the laws curtailing the short selling and quel suprise they started doing it again. This meant that Billions of tax payers money had to go into the banks millions of which went straight back out again in the form of bonuses to the people who caused all the bother. Also remember this is the man who decided to cripple the lowest paid in the job market by doubling their basic tax rate. Some people on here seem to have rose tinted memories. Well he's also (partly) responsible for introducing the minimum wage and working tax credits, and investing a fortune in the NHS and education (not all which has been wisely spent, admittedly). So perhaps some people here have selective memory. I'm not really familiar with the basic tax rate in the low paid, but I'm pretty sure the way you've worded that is misleading at best. Still, you're an Alex Salmon man iirc so no surprises there. NHS is basically screwed before talking about spending cuts isn't it? Don't want to think what it will be like with them. Link to comment Share on other sites More sharing options...
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