More great Work from ukip

[Hamilton]

If they had run the economy well we wouldn't have had years of unsustainable growth followed by a catastrophic recession.

Ask your self why during the time of this growth we didn't hear a peep about excessive bankers bonuses?

Any concerns about excessive consumer borrowing?

Any concerns about the robustness of the regulatory framework implemented by Labour in 2000?

We did hear that Gordon Brown had abolished boom and bust.........no wonder we don't see him anymore.

At least Balls apologised for his part..........

http://www.theguardian.com/politics/2011/sep/12/mps-shocked-ed-balls-says-sorry

I agree Labour made some errors in the running of the economy, but you cannot blame them for a global recession. All of the major economies walked into that one.

Also, let's be clear that right up until 2007/08 the Tories were broadly supportive of the way that Labour had managed the economy. It was one of the concerns for the Tories that they were unable to unpick the economy.

Then the recession hit and it all collapsed. This enabled the Tories to table their biggest lie I.e. Labour were responsible for the recession.

Unfortunately, because Milliband is such a wet weekend Labour have never effectively countered this.

Labour did waste huge amounts of money. They spent a lot wisely (Education), but they spent a lot unwisely (MOD contracts). They were far far from perfect, but they did invest - just not as wisely as they should.

This for me explains the differences between Labour and the Tories. One invests to reap rewards. One saves to improve the coffers. Which is right?

 

[cunning fergus]

I agree Labour made some errors in the running of the economy, but you cannot blame them for a global recession. All of the major economies walked into that one.

Also, let's be clear that right up until 2007/08 the Tories were broadly supportive of the way that Labour had managed the economy. It was one of the concerns for the Tories that they were unable to unpick the economy.

Then the recession hit and it all collapsed. This enabled the Tories to table their biggest lie I.e. Labour were responsible for the recession.

Unfortunately, because Milliband is such a wet weekend Labour have never effectively countered this.

Labour did waste huge amounts of money. They spent a lot wisely (Education), but they spent a lot unwisely (MOD contracts). They were far far from perfect, but they did invest - just not as wisely as they should.

This for me explains the differences between Labour and the Tories. One invests to reap rewards. One saves to improve the coffers. Which is right?

I guess I would challenge the global dimension first, as not every economy in the world "crashed" like the UK. Albeit there is a difference between the causes and consequences of the crash as many countries economies were drawn into the crisis and seriously affected that had not caused the crash.

To that extent I don't blame Labour so much for the cause but the nature of the effect. For example in 2000 onwards Northern Rock were offering 125% mortgages, around the same time Bradford and Bingley were operating a mortgage book that was over 60% self certified.

In both cases, the boards of these businesses were undoubtedly operating (and lending) recklessly yet despite the new UK regulatory regime, which Gordon Brown would eulogise is Mansion House speeches, nothing was done.

Nothing was done because before the crash the Govt was receiving unprecedented amounts in tax from company profits and associated taxation like stamp duty as the housing market overheated. Despite all the unprecedented year on year growth and tax revenue generated the money was spent. Worse still at this time the Govt was itself recklessly mortgaging the UK taxpayer to various PFI arrangements that they took off the balance sheet.

So, sure they didn't cause the crash, but had they been competent then the depth of the pain and austerity we are going through now would undoubtedly not be as it us currently.

Congratulating them on their financial record is like awarding the Nobel Peace Prize to the bloke who decided that buying stock "on margin " in the US stock market in the 20s would be a good idea..........remember cause and consequences.

 

[Hamilton]

I guess I would challenge the global dimension first, as not every economy in the world "crashed" like the UK. Albeit there is a difference between the causes and consequences of the crash as many countries economies were drawn into the crisis and seriously affected that had not caused the crash.

To that extent I don't blame Labour so much for the cause but the nature of the effect. For example in 2000 onwards Northern Rock were offering 125% mortgages, around the same time Bradford and Bingley were operating a mortgage book that was over 60% self certified.

In both cases, the boards of these businesses were undoubtedly operating (and lending) recklessly yet despite the new UK regulatory regime, which Gordon Brown would eulogise is Mansion House speeches, nothing was done.

Nothing was done because before the crash the Govt was receiving unprecedented amounts in tax from company profits and associated taxation like stamp duty as the housing market overheated. Despite all the unprecedented year on year growth and tax revenue generated the money was spent. Worse still at this time the Govt was itself recklessly mortgaging the UK taxpayer to various PFI arrangements that they took off the balance sheet.

So, sure they didn't cause the crash, but had they been competent then the depth of the pain and austerity we are going through now would undoubtedly not be as it us currently.

Congratulating them on their financial record is like awarding the Nobel Peace Prize to the bloke who decided that buying stock "on margin " in the US stock market in the 20s would be a good idea..........remember cause and consequences.

Good post. I think you've made some very good points there which I accept.

The financial community were running recklessly with a free hand - on both sides of the Atlantic. More should have been done to manage that. Unfortunately, with the exception of Vince Cable, nobody was really banging that drum.

 

[cunning fergus]

Good post. I think you've made some very good points there which I accept.

The financial community were running recklessly with a free hand - on both sides of the Atlantic. More should have been done to manage that. Unfortunately, with the exception of Vince Cable, nobody was really banging that drum.

Exactly, at that time the group who said "if it's not broke don't fix it" won out over those who said " this is too good to be true".

The good news is of course that Balls and Miliband were centrally involved in that discussion whilst Brown was at the helm are the opposition to our current circus.

Frankly given their record that is an insult to the honour (such as it is) of British politics and the electorate.

 

[The Birdman]

I agree Labour made some errors in the running of the economy, but you cannot blame them for a global recession. All of the major economies walked into that one.

Also, let's be clear that right up until 2007/08 the Tories were broadly supportive of the way that Labour had managed the economy. It was one of the concerns for the Tories that they were unable to unpick the economy.

Then the recession hit and it all collapsed. This enabled the Tories to table their biggest lie I.e. Labour were responsible for the recession.

Unfortunately, because Milliband is such a wet weekend Labour have never effectively countered this.

Labour did waste huge amounts of money. They spent a lot wisely (Education), but they spent a lot unwisely (MOD contracts). They were far far from perfect, but they did invest - just not as wisely as they should.

This for me explains the differences between Labour and the Tories. One invests to reap rewards. One saves to improve the coffers. Which is right?

It's bit like football unless you have good reserves you come unstuck when you need them. Who sold of our gold reserves. Who left a note at. The treasury no money left. On the other hand thank mr Brown for staying out of the euro !

 

[cunning fergus]

It's bit like football unless you have good reserves you come unstuck when you need them. Who sold of our gold reserves. Who left a note at. The treasury no money left. On the other hand thank mr Brown for staying out of the euro !

To be fair, I think it was Balls who came up with the 5 economic tests, he was well known to be a sceptic even when he was in the Fabian society. Brown had on the other hand advocated joining the euro with Tony Blair.

http://news.bbc.co.uk/1/hi/uk_politics/2978880.stm

Personally if we should thank anyone it's the British public, ditching the pound for the euro is not going to be a vote winner despite the whining of the Cleggites. That may change in time; however all the while the consequences of joining the euro is being played out via unrest on the streets of European cities, falling consumer demand and dangerously high levels of unemployment then I suspect the level of antipathy here will be constant.

 

[BHAWise]

The most worrying thing about ukip is the amount of Tory voters they will gain meaning they could be responceable for the ed's getting in. And if they do we are in huge trouble, if you think the reccesion was bad under Brown? Wait and see what these muppets will do.

 

[cunning fergus]

The most worrying thing about ukip is the amount of Tory voters they will gain meaning they could be responceable for the ed's getting in. And if they do we are in huge trouble, if you think the reccesion was bad under Brown? Wait and see what these muppets will do.

I think the point is we know exactly how bad it can be, Gordon Brown didn't govern in a vacuum.

http://news.bbc.co.uk/1/hi/6240362.stm

Puts me in mind of Obi Wan Kanobi response when Hans Solo berates him for seeking out Darth Vadar on the Death Star.............."who's the fool? The fool or the fool that follows the fool?".

Profoundly wise words Ben.

 

[Captain Sensible]

Anyone that thinks ukip are the voice of the people are deluded. They have their own agenda, all this laws for Britain by the British people is nonsense. What terrible EU laws are crushing us so much that we need to let white van man make the laws? It's all scaremongering bull. Most of our immigration problems are from people outside the EU, the awful border controlling has been the fault of the UK, the benefits system that allows abuse by immigrants is the fault of the UK.
The EU have not been giving out free healthcare etc.
The cretin that is Farage speaks for idiots and the easily led. The type of xenophobic hype that is spouted by Farage is very close to the Nazi party's propaganda in the 1930's.

 

[Westdene Wonder]

UKIP are worrying the other parties and are most likely to keep us out of Europe,a vote for them is one in the eye for the rest,good enough for starters.

 

[LA1972]

Anyone that thinks ukip are the voice of the people are deluded. They have their own agenda, all this laws for Britain by the British people is nonsense. What terrible EU laws are crushing us so much that we need to let white van man make the laws? It's all scaremongering bull. Most of our immigration problems are from people outside the EU, the awful border controlling has been the fault of the UK, the benefits system that allows abuse by immigrants is the fault of the UK.
The EU have not been giving out free healthcare etc.
The cretin that is Farage speaks for idiots and the easily led. The type of xenophobic hype that is spouted by Farage is very close to the Nazi party's propaganda in the 1930's.

Another worried Labour/conservative voter. This never ending national panic of squirming anti-UKIP clowns is getting boring now

 

[Herr Tubthumper]

Jesus. Their vetting procedure failed allegedly. UKIP are a bunch of clowns. Anyone voting for them needs their head examined.

 

[Herr Tubthumper]

Another worried Labour/conservative voter. This never ending national panic of squirming anti-UKIP clowns is getting boring now

UKIP don't worry me in the slightest. They have no real road map to power. At best they will syphon off the nutters on the right of the Conservative party which isn't a bad thing.

 

[Beach Hut]

Voting for UKIP is a wasted ballot paper as they have no policies and are politically inert.

 

[LA1972]

Voting for UKIP is a wasted ballot paper as they have no policies and are politically inert.

Good job I'm voting for The Monster Raving Looney Party, they're not worrying as many so their policies must be top notch

 

[LA1972]

UKIP (barring a nuclear war with Russia) are strolling into being the third largest political party, anyone that can tie their own shoelaces can see that - even all the nazi screamers. The amount of threads on this subject alone should indicate that.

 

[WATFORD zero]

I think ENREST's policy for his ARS to remove Bloom, Barber and the clipboard KID has had more thought put into it THAN any UKIP policies.

Maybe Ernest and Nigel should team up

 

[The Birdman]

UKIP don't worry me in the slightest. They have no real road map to power. At best they will syphon off the nutters on the right of the Conservative party which isn't a bad thing.

Don't think they are not picking votes from Labour either!!!!!

 

[Tom Bombadil]

Dear Mr Fergus, given that Nigel is an ex city trader and UKIP favour economic deregulation in what way do you believe that they will be able to prevent a repeat of the conditions in the UK banking sector that lead to the economic crash of 2008.

 

[User removed 4]

Dear Mr Fergus, given that Nigel is an ex city trader and UKIP favour economic deregulation in what way do you believe that they will be able to prevent a repeat of the conditions in the UK banking sector that lead to the economic crash of 2008.

he's not FYI.