Gordon Brown Saves The World

[Churchill]

And if I had to chose between Bliar and Brown, I would take Brown.

Isn't that what Mandelson did...?

[AlfredJPruffock]

Aye SS

That is a marvellous Avatar.

All Hail McBroon - Thane of Global Banking

[lilelvis2000]

The British plan is very prudent and is within the parameters of the Golden Rule (or whatever it was called).

[AlfredJPruffock]

The British plan is very prudent and is within the parameters of the Golden Rule (or whatever it was called).

Yes the cause of this 'crises' can now be seen - to have the World clamour to form The Global Bank - perfect.

New World Order - mission complete

[clangers272]

Let's give Gordon a bit of credit for once. Clearly he's played a leading role in attemtping to begin to address this mess. The UK recapitalisation plan was the most coherent although not without huge questions.

He has however along with the majority of other political leaders been responsible for this disaster. Let's not forget NuLab have won the two previous elections on the back of sound fiscal management and the wealth created from the economic boom.

NuLab will now spin furiously attempting to explain the huge hole in our public finances as being a consequence of the credit crunch. It wasn't, our public account deficit was already significant due to their public sector splurge over the last six years.

Trouble is for NuLab that unless Gordon can create a financial crisis on a weekly basis between now and the next election he's not actually going to be able to appear too statesman like on the back of a significant recession. Lot's of job losses and reposessions.

That's assuming that the crisis in the financial markets is over and frankly I don't believe it is. We're probably just witnessing a rally in a bear market

We're already in recession and are now being warned that if we're lucky we might get away with one only a serious as 91/92.

[Cyberman]

As usual, 1 rant = many points. I'll try some of them:

1. The tax changes to pension funds' dividends are really a drop in the bucket compared to e.g. the fund managers' fees, not to mention their ability to destroy wealth big time (a fund manager is someone who invests your money until it is all gone; a broker is someone who makes you broker). Arguably the relief was unfair, now it is not. But at any rate, though it may grab headlines (because of the single-figure total), it did not shred your pension (because the % is very low).

2. A month ago annuities were unrealistically inflated, now they are not. I'm sorry, I know that no-one likes bad news, but it is so.

3. It is unfortunate that people's pensions depend so much on the value of an annuity, and the variability of that depending on when it is taken. This is an old argument in the financial sector (see e.g. years and years of anti-annuity rants on the Motley Fool) and is hardly Gordon Brown's fault.

4. At the time I believed that you were right about NR. You might well be, but I am less sure now. Anyway, that's one unlucky investment, not your whole pension.

How you can say that it's ok to raid people's pensions because admin fees are high beggars belief... that is an argument NOT to tax them so highly.

People will be very poor in old age thanks to GB, except for public sector workers who are heavily subsidised by those very poor. The private sector already have to work five years more than those in the public sector. That is scandalous.

Annuities have been getting worse for years because of increased longevity. You didn't know this ?

You're so out of touch Expat.

[Cyberman]

The entire world is reeling, this isn't a domestic issue... so blaming GB for everything doesn't make sense. And as for encouraging borrowing, isn't it the Tories who started the whole "everyone should own their own house ideal"?
Making flat "it's X's fault" statements is either naive or simple trolling.

Much of it is a domestic issue, and due to poor regulation brought on by changes to the FSA and BofE that GB made.

High taxes that are helping to bring on recession are Gordon's fault, and massive debt(100 Billion spending deficit, excluding the banks 'bail-out') that will occur over the next year is his fault. He should be in a position to cut taxes but he cannot because spending is out of control.

High interest rates are also his fault. They should be 1% lower than they are now because people need money in their pockets to stave off recession, but he gave away some of his strongest powers to the MPC.

[Cyberman]

No fan of the man, but to be honest I see a lot of the same people pointing fingers at him now to fix the mess, and a lot of these are the same people that profited from the runaway conditions that have prevailed for the last ten years.

I am starting to settle for him because TBTH I dont see anybody better, in Europe or the US to pragamatically deal with this.


And if I had to chose between Bliar and Brown, I would take Brown.

Unfortunately, Brown is now a proven liar on radio at the time of the F1 donation scandal. He would resign if he had any honour.

[d000hg]

I don't think either taxes or interest rates are that high. Interest rates have been low for the 2 years or more until quite recently, and when I was a kid (during the Thatcher era) weren't they at 10-15%? And Scandinavian countries have much higher taxes I thought?

[Cyberman]

I don't think either taxes or interest rates are that high. Interest rates have been low for the 2 years or more until quite recently, and when I was a kid (during the Thatcher era) weren't they at 10-15%? And Scandinavian countries have much higher taxes I thought?

Tell that to people on SVRs at 7%