George Osborne could be sacked...

[Flat_Eric]

You're singling David out unfairly Jim on this one.

Labour supporters (when they're willing or are forced to admit that the last Labour government fucked up in a particular area) usually try to blame it all on Maggie Thatcher! Never mind that Mrs T was turfed out in 1990 and they had a full 13 years in power to try and get things right. That's their usual tactic and I find it quite bizarre.

But it cuts both ways, as we now have the Tories trying to finger the last useless set of Labour cunts for their own fuck-ups.

But I suppose "buck passing" has always been part of the political game. The reality is that most of them are all steeped in dogma and are all equally useless.

- Eric

[David Johnson]

"How in the name of fuck do you know what UKIP may or may not have done when Rodders retired?"

Well James you can only go on policies can't you or if that party has been in power before, their implementation of policies? You know that is true, don't you? And then decide, this is likely; this is not likely.

After all, you have made thousands and thousands of predictions as to what would happen if the current Labour party under Miliband got into power. Far, far more predictions than I have made about the same party would be my guess.

Actually not so much predictions, more absolute certainties in your case, though the vast majority of your rants and ravings tend to merge into irrational mush after a very shortwhile e.g. BGAFD forumites dragged off into dungeons etc etc..

What do you base those thousands of certainties on - your innate wisdom, your crystal ball in Cupcake Towers? Really Jim, "I cannot undertand how you can manage to endlessly spew out this drivel with absolutely no let up". A sense of self-awareness, Mr Slip would be a great help to you.

PS Still trolling I see? Every time you name check me and insult me (everyday this week so far), it gives me a laugh! It shows I am really, really getting to you and you just don't seem able to cope and move on.
It's sad and very boring for other forumites.

!wink!

http://bgafd.co.uk/forum/read.php?f=3&i=258931&t=258927

[David Johnson]

"You're singling David out unfairly Jim on this one."

Well there has to be a first for everything!

Jim's never done that before.

!wink!

[Porn Baron]

Osborne should blame G4$ !disaster!

[David Johnson]

With regard to "printing" money and whether or not a Labour government would do that next time round, it is worth noting that it was Gorgeous George who whilst Shadow Chancellor accused the Labour government's quantitative easing policy of being "the desperate policy of a desperate government".

Here we are, two years into coalition government and so far we have had ?350 billion of quantitative easing from Osborne and what is the result of said policy?

More money for banks (they really don't have enough, you know!) and a bigger downgrading from the IMF for the UK's economic growth estimate 2012 than any other G7 country.

[Flat_Eric]

Flat_Eric wrote:

[quote]The reality is that most of them are all steeped in dogma and are all equally useless.[/quote]


David Johnson wrote:

[quote]it was Gorgeous George who whilst Shadow Chancellor accused the Labour government's quantitative easing policy of being "the desperate policy of a desperate government". Here we are, two years into coalition government and so far we have had ?350 billion of quantitative easing from Osborne and what is the result of said policy? More money for banks (they really don't have enough, you know!) and a bigger downgrading from the IMF for the UK's economic growth estimate 2012 than any other G7 country.[/quote]

I rest my case !hatsoff!

- Eric

[David Johnson]

Yes, I seem to recall the quote from Einstein that gets trotted out increasingly with regard to economic policy e.g. endless austerity -

"The definition of insanity is doing the same thing over and over again and expecting different results?.

[Porn Baron]

Is it the Bank of England or the government who continue with this QE? The money is obviously not getting to business. So why do they persist with it? They are not stupid. Do the banks need more money to balance the books?

I feel like we are being legally robbed by our own government to help the banks. Now inflation has dropped will they start doing even more QE???

Now I see they predict growth is down to virtually zero for the coming year. Surely even Osbourne knows the medicine is killing the patient?

[David Johnson]

"Is it the Bank of England or the government who continue with this QE?"

It is the Bank of England who announce it, but governments are in daily contact with the Bank as to what they think/want to happen.

"The money is obviously not getting to business. So why do they persist with it? They are not stupid. Do the banks need more money to balance the books?

Well, quantitative easing is used generaly when a country hits the panic button. For example, when Lehman Brothers went tits up and there was a real risk of banks collapsing with cash machines not working, there were frequent cuts in interest rates to try and stimulate the economy. When you get to 0.5% you don't really have anywhere to go. So what happened then in 2009 was Brown and the BofE tried quantitaive easing to provide liquidity to the banks to prevent a collapse. IN addition, Labour introduced capital expenditure to try and stop the "real" economy going into shock.

This worked (infrastructure spending) to the extent that growth was increasing in the three to six months around the election time. However, the banks held onto the dosh because their liquidity was a very big issue.

Quantitative easing has not worked under the Tories because the banks are still shit scared about the Eurozone and taking a hit when the inevitable happens and the likes of Greece go belly up. As to why they are still doing this see my answer to the next bit.

" feel like we are being legally robbed by our own government to help the banks. Now inflation has dropped will they start doing even more QE???"

We are being legally robbed. A quote from the Spectator
"Quantitative Easing is a transfer of wealth from the poor to the rich,? he says, ?It floods banks with money, which they use to pay themselves bonuses. The banks have money, and assets, so they can borrow easily. The poor guy, who is unemployed and can't borrow, is not going to benefit from it.? The QE process pushes asset prices up, he says, which is great for those who own stocks, shares and expensive houses. ?But the state is subsidising the rich. It is the top 1 per cent who benefit from Quantitative Easing, not the 99 per cent.??

"Now inflation has dropped will they start doing even more QE???"

Not necessarily - growth or the lack of it to be more precise is the trigger for QE in an environment where interest rates are on the floor.

"Now I see they predict growth is down to virtually zero for the coming year. Surely even Osbourne knows the medicine is killing the patient?"

The thing is Osborne has already done a partial U-turn on the economy. THe coalition has just not admitted it. THe IMF said last autumn that UK growth for this year was estimated at 1.6% (downgraded earlier this week to .2%). Lagarde stated last autumn "if those expectations were undershot, the government should take urgent action to boost the economy including temporary tax cuts and more investments in infrastructure".

What DIamond Dave and Cleggie announced yesterday was infrastructure spending on the railways which largely was started under Labour, pulled by the coalition in 2010 and then reintroduced yesterday.

Unfortunately much of this spending which is 2 years too late will not kick in til the end of the parliament. So it is a case of Too many cuts too quickly - too little spending too late.

If the Eurozone continues to deteriorate, I can see trouble ahead for the UK including a downgrade of our credit rating.

Hope this makes sense, Mr Porn Baron

[RoddersUK]

Oh no it isn't. It's a scream because you are so predictable and patronising.
You assume when you have no facts. Just because some of us disagree with you it doesn't make us Toryboys.
I was a lifelong Labour supporter and voter until Tony B Liar came on the scene and started sniffing round Thatchers arse. If you worship him and what he represents then Jim is right. You are a complete and utter twatt.