Labour's handling of the economic crisis has been exemplary

[BrilloPad]

Yes I know el Gordo caused it, but as far as recovering from a mistake is concerned, Labour have done well.
Textbook Keynesian stimulus policies have done the job.
The Tories would probably have tightened everything and made it worse.


HTH

Like Maggie did?

No pain no gain.

I still think there is alot of pain to come. We cant just borrow forver : we have to live within our means. Unless you advocate inflating your way out?

[Evil Hangover]

Yes I know el Gordo caused it, but as far as recovering from a mistake is concerned, Labour have done well.
Textbook Keynesian stimulus policies have done the job.
The Tories would probably have tightened everything and made it worse.


HTH

You are taking the piss, aren't you?

Gordo has spunked our cash against the wall with gay abandon, with no concern for the medium term consequences.

He is just desperate that his short term prayer for re-election will be answered. An increasing percentage of the electorate are know so painfully thick that this could still happen.

The recent QE spasms have been mopped up predominantly by whom ? Yes, the flippin Govt. No one else wants out debt and our country credit rating is at risk of a downgrade. This debt mountain is going to becoming increasingly more expensive to service once Interest Rates are raised next year.

This will be required (and imposed by the Bank of England) to stifle the inevitable bout of inflation, whilst simultaneously stifling what little growth prospects there might otherwise have been

UK PLC has been well and truly f***** over the last ten years by these clueless Labour flipwits

[BrilloPad]

You are taking the piss, aren't you?

Yes he usually does. Later he will claim there are 3 of him posting and it was one of the other 2.

HTH

[Platypus]

Sterling has not recovered to pre-crash levels yet.

And can someone explain to me why this would be "good" for the economy?

It certainly would be a disaster for exporters.

So holidaymakers get a few extra bucks to spend when they go to the US. Big deal.

[sasguru]

Bugger I go away for the morning and socialist sasguru takes over.
Give over mate, you're not going to convince anyone ..

[PM-Junkie]

And can someone explain to me why this would be "good" for the economy?

It certainly would be a disaster for exporters.

So holidaymakers get a few extra bucks to spend when they go to the US. Big deal.

True...though exchange rate dynamics in the current environment is a VERY complicated subject.

As well as exports, you have imports. We as a nation import lots of raw materials, and if our currency is strong this means our import costs are effectively lower. Traditionally, this has a downward influence on prices and inflation, which in turn increases the buying power of peoples' wage packets and keeps the whole thing ticking along.

However, under current circumstances I prefer a weaker currency to strengthen our exports (which should give a extra kick for what manufacturing we have left) and discourage imports...which hopefully will also give a boost to manufacturing.

Overall though, I prefer the economic advantages of a strong currency. As someone else said (I forget who) "lord, give us a strong currency....but not yet".

[Doggy Styles]

And can someone explain to me why this would be "good" for the economy?

It certainly would be a disaster for exporters.

So holidaymakers get a few extra bucks to spend when they go to the US. Big deal.

Too much is made of the strength of the pound itself.

The exchange rate is working whether it is up or down - it balances or damps the more extreme effects of our economy's strength or weakness.

Ask Ireland and Spain, who are just finding out this wholesome truth.