The British economy shrank by 0.2% in the fourth quarter of 2011

[AtW]

If Labour did not like the way the banks worked then why not stop them? They had from 1997 to 2007. But they loved it - they wanted the banks to get wild. And so did the population. Let the good times roll forever etcetc.

Labour could have helped by not doing a Viv Nicholson and going on a "spend, spend, spend". Now the Torys are having to make cuts - but in spite of them the debt is still going up due to interest payments and that the UK is still living beyond its means.

Some countries have set up a sovereign wealth fund - why not the UK?

Everybody who bought a house in that period also complicit!

Renters like me should get a refund or something

[Arturo Bassick]

It's a global problem set off by various governments who were puppets of the various Investment Banks/Funds etc in the 80's, including the tories.

There are none so blind as those who will not see.

The Tories steered us out of the last problem. When they were undermined by NL bigging up the sleeze stories the UK was in the best financial position it had been in for decades. Read any contemporary articles and you will see that Gordon Brown inherited the best economy any chancellor in the Western World had ever inherited.
He proceeded to empty the war chest, then raid private sector pensions, when he needed more money he unleashed the banks to inflate borrowing. He then proceeded to borrow like there was no tomorrow. He did this to fund a massive increase in social dependency and a trebling in size of the already bloated public sector.
When the tulip hit the fan we were buggered.

If he had not unleashed the banks the UK would not have had the same financial disaster as everybody else.
If we were not borrowing just to pay the bills we would not be so deep in the tulip.

what really hurts is that I voted for Blair and co. Cant believe I was so gullible.

You Tory haters should take those chips off your shoulders and try looking at this in a balanced way.

[pacharan]

Renters like me should get a refund or something

Thought you were a glenner

[BrilloPad]

what really hurts is that I voted for Blair and co. Cant believe I was so gullible.

Indeed. I remember being called a communist once. Turned out the guy had voted Labour in 1997. What a plonker Rodney.

[BrilloPad]

Everybody who bought a house in that period also complicit!

Renters like me should get a refund or something

And those who got 0% credit cards......

[russell]

I worship at the feet of David Cameron and have a shrine to Thatcher!.

FTFY

[sasguru]

Everybody who bought a house in that period also complicit!

Renters like me should get a refund or something

I bought several properties during that period and made loads of money.
Renters like you should be castrated to avoid you passing on your stupidity to your children.
Although the likelihood of that is low in your case.

[Arturo Bassick]

FTFY

Blind or just cant read? Which part of "I voted for Blair" did you not understand? I have never voted Tory in the 30 years I have had the vote.
I'm not rabidly for or against any political party, an art you could clearly do with learning.

Do not like the current bunch, but much of their unpopularity is due to having the balls to move in the right direction.
I do not see a viable alternative either. NL will not cut enough (it was them that got us into this in the first place) and neither would the Lib Dems. No other party is big enough though I am somewhat aligned with UKIP.

[BlasterBates]

The banks would have been out of control also under the Tories, the only difference is that the Tories would have spent a bit less in the public sector. Anyone remember the early 1990's recession? That was also caused by excesses, a bubble which lead to inflation blipping up. I also believe if the Tories had continued they would more than likely have started to loosen the purse strings, as well, just to get reelected.

The US has had a republican president over the last 8 years, Reagan's successor and the US deficit is just as bad as the UK.

Nah would have made sod all difference really.