The Conservative Party

[Ban-jani]

Disagree. If Labour had accumulated a surplus in the late 90s and early 00s, then investing that nest egg throughout the recession would have saved jobs.

The recession wasn't Labour's fault, but our ability to manage the effects of it was.

They were going through a period of restructuring society so that capitalism could work for everyone, of course you need to borrow for that.

It was unfortunate, nothing else.

 

[Chris in London]

Spot on.


However, as many are now realising, in the light of the Banking collapse, the so-called "Phone Hacking Scandal" and now Trump/Johnson, it turns out that since the 1970s Dave Spart has been Britain's wisest and most accurate political commentator.
Who would have thought.

Once again. Totally predictably.

 

[smudgedj]

What has Rory Stewart got planned after his resignation?

He’s already auditioning for the next Star Wars movie.

 

[CityStu]

If it was "always going to go bust" I presume you predicted it.

I was 17 so not that well nuanced in global politics and economics. I think that even then I'd have thought it unlikely that something that had existed throughout capitalism would suddenly end because I wanted to splash some cash though.

Predicting when the cycle switches is difficult, but nobody asked Labour to do that; just to be prepared for the possibility of bust.

They were going through a period of restructuring society so that capitalism could work for everyone, of course you need to borrow for that.

It was unfortunate, nothing else.

Restructuring society should have waited until the recession, when investing and borrowing made more sense. Labour may have been in power too if they could have demonstrated that they'd prepared for the eventuality of it.

It would make sense for me to change my diesel car for a hybrid because I no longer do enough miles for it to be worth it in fuel economy and I'd like to be greener. But it doesn't make sense for me to break the bank to do it right now.

 

[Ban-jani]

I was 17 so not that well nuanced in global politics and economics. I think that even then I'd have thought it unlikely that something that had existed throughout capitalism would suddenly end because I wanted to splash some cash though.

Predicting when the cycle switches is difficult, but nobody asked Labour to do that; just to be prepared for the possibility of bust.



Restructuring society should have waited until the recession, when investing and borrowing made more sense. Labour may have been in power too if they could have demonstrated that they'd prepared for the eventuality of it.

It would make sense for me to change my diesel car for a hybrid because I no longer do enough miles for it to be worth it in fuel economy and I'd like to be greener. But it doesn't make sense for me to break the bank to do it right now.

They didn’t know the recession was coming, that’s the point.

 

[CityStu]

They didn’t know the recession was coming, that’s the point.

There's always a recession coming; it's the cycle of boom and bust. Labour declared the cycle over so they could spend frivolously.

 

[Ban-jani]

There's always a recession coming; it's the cycle of boom and bust. Labour declared the cycle over so they could spend frivolously.

They weren’t expecting a global banking crisis, which was the worst since the Great Depression, arguably worse.

 

[CityStu]

They weren’t expecting a global banking crisis, which was the worst since the Great Depression, arguably worse.

I know, they were expecting boom years to continue forever. They were naive.

 

[Ban-jani]

I know, they were expecting boom years to continue forever. They were naive.

So was the entire planet.

 

[aguero93:20]

There's always a recession coming; it's the cycle of boom and bust. Labour declared the cycle over so they could spend frivolously.

There's recessions and then there's the Wall Street crash and the Subprime crisis. They were in a different league.

 

[CityStu]

There's recessions and then there's the Wall Street crash and the Subprime crisis. They were in a different league.

I agree. But the UK entered the recession already managing a deficit. Whatever way you spin it to me, I'll consider that a critical flaw in Labour's management of the economy.

 

[urban genie]

I know, they were expecting boom years to continue forever. They were naive.

The only naivity was that they threw a lot of eggs in the financial service sector to be our main source to guide the ecomony and so allowed it slack regulations, the crash hit us badly as our industry and infrastructure were either not major or already sold off.
It is also why brexit happened amongst other things, a concentration on the city of London instead of spreading the wealth left a legacy austerity then compounded.

 

[aguero93:20]

I agree. But the UK entered the recession already managing a deficit. Whatever way you spin it to me, I'll consider that a critical flaw in Labour's management of the economy.

A very sudden recession. Did they break Keynesian economic methods? Yes. Was there any real forewarning that could have caused them to act differently? No. If anyone should be blamed for the Subprime crisis, blame the ratings agencies for keeping the problem hidden long enough for it to explode and blame the US Congress for letting the deadline to bail out Sachs and Mae pass while they bickered and point-scored, kicking off the domino effect that travelled across the world.

 

[Vic]

...

It would make sense for me to change my diesel car for a hybrid because I no longer do enough miles for it to be worth it in fuel economy and I'd like to be greener. But it doesn't make sense for me to break the bank to do it right now.

Then the turbo went on your car, and wrecked your plan. You didn't see that coming, did you?

 

[CityStu]

Then the turbo went on your car, and wrecked your plan. You didn't see that coming, did you?

No, I did. I've been saving a sensible amount and I have that nest egg because I didn't blow it on a new car.

 

[Vic]

No, I did. I've been saving a sensible amount and I have that nest egg because I didn't blow it on a new car.

I'm giving up the analogy because "breaking the bank" while "having a nest egg" sounds a bit unicorny.

 

[bluethrunthru]

No, I did. I've been saving a sensible amount and I have that nest egg because I didn't blow it on a new car.

don't blame you - buy a banger mate - buy right and you are quids in. I have had nearly 19 months and 40k miles out of two old cars for a net cost of £1900 not including fuel and servicing. I am currently wringing the last life out of an ageing Renault. Far more cost effective and far better for the environment than buying a new car as more than 50% of the greenhouse gasses a car will produce come from its actual construction. We owe it to the environment to extract everything we can out of cars that have already been made and have therefore already laid down the vast majority of their carbon footprint.

 

[Machiavelli]

Im a kid from Salford who had fuck all too.... the odds werent in my favour,but ive done great because I chose to.
You are the master of your own destiny,you can choose to whinge about being hard done to or you can get out there and make something of yourself.

Now look at you, a moderator on Bluemoon.

 

[Bpughh]

Now look at you, a moderator on Bluemoon.

Abu Dhabi pays for that too. Don’t hate the player... congrats on your latest contract, fantasy.

 

[Vic]

I agree. But the UK entered the recession already managing a deficit. Whatever way you spin it to me, I'll consider that a critical flaw in Labour's management of the economy.

But not a critical flaw in the Tories' current management of the economy, engineering a recession?