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User Name Thread Name Subject Posted
Ringer BS: Spending Cuts UK - The Thread (249* d) RE: BS: Spending Cuts UK - The Thread 25 Oct 10


I'm afraid I can see only BS still, Mandotim. I asked you to point out the mistakes in my post -- all you managed was a quibble about my reference to the economy in 1997 as "fairly healthy".

And all your guff about capitalism, and Tories backing regulation, is irrelevant: you haven't addressed my main point, which is that governments are ultimately responsible for the economy (are you not familiar with the expression, "the buck stops here?"). No one but a fool denies that the banks were at fault, but the government, under whose regulation the banks were acting, have ultimate responsibility. Voters understand this ("It's the economy, stupid").

Governments are quick enough to claim credit when the economy surges (as did Mr Brown, hubristically preening himself over 137 -- or however many -- consecutive quarters of growth), but they can't run away fast enough when things get tight ("It's America's fault"). Even though American sub-prime lenders may have provoked the crisis, our last government was guilty of introducing a regulatory regime which allowed it, guilty of not having seen it coming and terminally guilty of not having provided, in the fat years, for the inevitable lean years to come.

Would you, or the condescending McGrath of Harlow, like to try again? Tell me why the last Labour government isn't responsible for our current economic woes.


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