Stock market crash

[David Johnson]

"I do not think that being a deficit denier however, helps anyone."

I dont think anyone in the Labour Party is a deficit denier. Obviously the deficit is huge and needs reducing. That is not up for debate.

What is up for debate is how to reduce the deficit. Too fast and too deep as the Tories are trying to do or less deep over a longer period of time as the Labour party advocates.

The Tory approach doesn't seem to be working wonders for Greece and Ireland as far as I can see and is already resulting in warnings from the IMF and the independent Office of Budget Responsibility.

Cheers
D

[Robches]

David:

Greece and Ireland are in the Eurozone, so their interest rate and exchange rate are set for the benefit of Germany. If Greece still had the drachma it would have devalued by about 30 to 40%, instead it is tied to a strong currency and has an interest rate which has just risen. It is the same for Ireland. As long as they are in the Eurozone they will never recover.

Labour is like a broken record over the defecit. Balls has come out with this mantra that the coalition is cutting too far and too fast. In reality, if you try and play fast and loose the markets will just refuse to lend to you at a price you can afford. I think Alastair Darling would have had to do something very similar if he had been Chancellor in a new Labour government. He strikes me as a decent politician, Ed Balls by contrast is a loud mouthed bully, but at least I don't hate him as much as half the shadow cabinet. Even Ed Miliband tried to sideline him until Alan Johnson's marriage collapsed and he resigned as shadow chancellor. The fact that Miliband would rather have a guy who admitted he knew nothing about economics as shadow chancellor over Ed Balls must tell you something surely?

[David Johnson]

Robches

You seem to be very, very slow on the uptake.

A discussion is one in which people having that discussion answer each other's points/questions as part of that discussion.

Since you have categorically refused to answer the questions I pose to you, I will leave you to have a discussion with yourself.

http://bgafd.co.uk/forum/read.php?f=3&i=248364&t=248333

[Robches]

Thank you very much David, I often find I make sense, despite being so slow on the uptake. Thank you for your kind words though, I do appreciate them, and shall assume that you must agree with me. Good to have made a convert to the cause of fiscal sanity.

[David Johnson]

Delusional as well as terrified to answer my questions!

!wink!

[Robches]

Yes David, you do indeed terrify me, I thought I had kept it hidden, but you can read me like a book.