Don't panic - we have a plan!!!!

[David Johnson]

The wisdom of government economics guru, The Blessed Vincent Cable

January 2009
Vince Cable calls quantitive easing "the economics of Robert Mugabe in Rhodesia".

16 Sept 2011
With recovery around the world and in Britain faltering, Vince Cable, the business secretary, has called for another round of quantitative easing to help small businesses.

June 1999,
Debating the Financial Services and Markets (FSMA) Bill in the Commons Cable said any regulation should be done on a "light-touch basis".

2009
Cable calls for "radical safety measures" to be built into a new regulatory architecture for the City.

Pre-election May 2010
Cable hammers the Tory proposed economic plan to cut the deficit within one parliament.

Post-election May 2010 with his arse in a Cabinet Minister limo, Cable supports economic plan to cut the deficit within one parliament.

16 September 2011 Cable calls for a New Deal-type stimulus to the British economy involving spending on infrastructure projects and tax cuts.

19 September 2011
Cable - whose job is to promote business growth and confidence - used a speech at the Lib Dem conference to warn that there were no grounds for being optimistic about the economy for years to come. In his pessimistic address in Birmingham, Cable accused his Tory colleagues who wanted "Father Christmas" tax cuts of living in a "childish fantasy".

Don't panic, boys, it's all under control
[img]http://www.owen.org/wp-content/uploads/joneshead.jpg[/img]

[Gusset Sniffer]

We're Doomed. !deadhorse!

Time for plan B I think. I hope this government has the balls to admit they need a rethink for the sake of the whole country.

[beutelwolf]

Regarding quantitative easing, I would not criticise him on that.

In principle, it is indeed inflationary. In the context of the depression, it fills a gap left over by stock market losses, and works thus anti-deflationary.

[David Johnson]

Hi,

But the position in 2009 was desperate with the entire financial system on the brink of collapse which was when he condemned it out of hand as the politics of Mugabe.

Cheers
D

[RoddersUK]

As much as I dislike Cameron I think he should front up the idiot Clegg on any of several issues and if Clegg tells his idiot followers to vote against the govt Cameron should call an election. At present the Libs would be wiped out. As for the baby in the unions pockets there's no way he would win at present.
But, for all you metrosexual Lib and Labour accolytes these are my views and if you don't agree, well, see if I care.

[David Johnson]

And I forgot to mention re. your comment on stock market losses that after the Lehmans collapse the FTSE 100 sunk to about 3,500 so I see no logic why the Blessed Vince thought that quantitative easing was the economics of Mugabe then whereas now it is fine and dandy.

Of course, apart from the logic that when it was done in 2009, the Labour government was in power and now Cable is in government. Some may call me cynical!

Cheers
D

[David Johnson]

Re Plan B, I noted that the IMF spokesman yesterday picked out the UK economy in particular, for a warning that if the economy continued to slow (the IMF downgraded the growth forecast for this year for the third time and slashed the UK growth forecast for next year) then the government should ease the pace of its deficit reduction programme.

Strangely although Osborne and Danny Alexander have trumpeted the support of the IMF at every available opportunity in the past, they seem to have glossed over this point in the last day or so i.e. if Plan A continues not to work, the UK government is going to have to change tack.

I expect Osborne, Alexander and Cable to increasingly talk of "flexibility in the plan" which to you and me is commonly referred to as a U turn, Plan B, C, D or whatever.

Cheers
D