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General Chat Thread, Dear George in General; Dear George, I wrote to you a while ago asking that you stop 'playing around' with the country's economy. But ...
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    mattx's Avatar
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    Dear George

    Dear George, I wrote to you a while ago asking that you stop 'playing around' with the country's economy. But oh no, whilst you and your rich chums have enjoyed your tax breaks you awarded yourselves, today we find out that the economy has shrank by 0.3% over the last 3 months. Stick to folding towels at Selfridges, surely you can manage that because numbers arn't really your strong point......Idiot.

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    Michael's Avatar
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    I have to admit, it's not looking rosey in George's world, but I gather he's still going to carry on anyway.

    This just confirms once and for all, there is an even worse Chancellor than Gordon Brown!

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    Robz's Avatar
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    Quote Originally Posted by Michael View Post
    I have to admit, it's not looking rosey in George's world, but I gather he's still going to carry on anyway.

    This just confirms once and for all, there is an even worse Chancellor than Gordon Brown!
    Gordon Brown = put us in the recession + debt crisis AND sold off our gold at its lowest ever price

    George = Getting us out of the sh!t


    I vote George.

  4. Thanks to Robz from:

    Gatt (28th January 2013)

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    I didn't realise that the reason saving interest are so low is because the government has given the banks billions to loan to small businesses, the banks are just keeping the money and therefore don't need any more from savers.

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    Michael's Avatar
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    Quote Originally Posted by Robz View Post
    Gordon Brown = put us in the recession + debt crisis AND sold off our gold at its lowest ever price

    George = Getting us out of the sh!t


    I vote George.
    Apart from what he's doing is essentially cutting everything out, so he lives on bread and butter. A compromise is needed so at least you can give yourself a good meal. That's the best way I can explain it.

    Another way to look at it - companies look closely what the Government are doing and see they're not investing, so how on earth the Government expect companies (despite sitting on cash) to invest... they're not thinking logically and again, you have to question how many MPs have actually run a business before. Practically zero, so that lack of knowledge is clearly making a big difference.

    The numbers speak for themselves - a triple dip on the horizon, the threat of the UK losing our AAA status. It'll mean borrowing will go up for you and me.

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    Quote Originally Posted by Robz View Post
    Gordon Brown = put us in the recession + debt crisis AND sold off our gold at its lowest ever price

    <SNIP>.
    I really ought to start watching the news more. All this time, I've been thinking it was bailing out the banks to the tune of several tens of billions (whatever) that had got us into this mess.

    A true moment.

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    aerospacemango's Avatar
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    Quote Originally Posted by Robz View Post
    Gordon Brown = put us in the recession + debt crisis AND sold off our gold at its lowest ever price

    George = Getting us out of the sh!t


    I vote George.
    As long as you continue to swallow the tory party line, that's what you will believe.

    It was actually the Sub-Prime markets in the good ole US of A that ditched the world into recession....But don't let the truth stand in the way of party politics, eh?

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    nephilim (25th January 2013)

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    We all as individuals have to take a slice of responsibilty for the mire we are in. Too many of us living their lives on the old flexible friends, we complain that we are poor, but we have luxuries like large screen TV's, all the best gadgets and are part of the throwaway society. We don't really know the meaning of poor, like our parents and grandparents. I see Osbourne only reacting to society's actions.

  11. 3 Thanks to andyturpie:

    Gatt (28th January 2013), mmoseley (29th January 2013), Robz (25th January 2013)

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    It did start in the USA - wrapping up bad assets as good ones and selling them on... it was only a matter of time before some poor bank actually looked at it carefully, then realised they'd bought millions of these all with the same problem. All economies are essentially linked with each other, more so the USA as they're the largest economy (at the moment).

    At this point it was too late, the damage had gone unnoticed for years and politicians did what they thought was right rather than stepping back and looking at the bigger picture. Gordon Brown didn't create the problem, but you could argue they were running the country and setting the policies for banks to follow. The Government stupidly (and still stupidly) trust the banks too much even today which is why progress is painfully slow.

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    mthomas08's Avatar
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    Quote Originally Posted by Michael View Post
    I have to admit, it's not looking rosey in George's world, but I gather he's still going to carry on anyway.

    This just confirms once and for all, there is an even worse Chancellor than Gordon Brown!
    +1 on this.

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    Quote Originally Posted by aerospacemango View Post
    As long as you continue to swallow the tory party line, that's what you will believe.

    It was actually the Sub-Prime markets in the good ole US of A that ditched the world into recession....But don't let the truth stand in the way of party politics, eh?

    Ultimately it was the labour government in charge of our country and thus in charge of those that operate within it. Yes the banks caused the recession but he certainly didn't do a thing to prevent it - ultimate responsibility was his.

    Nor would we be in such a mess if the government of the time hadn't borrowed more than we could ever hope to pay back easily - its not the recession that's left us in this mess, its the amount our previous government borrowed.

    Quote Originally Posted by Michael View Post
    Apart from what he's doing is essentially cutting everything out, so he lives on bread and butter. A compromise is needed so at least you can give yourself a good meal. That's the best way I can explain it.

    Another way to look at it - companies look closely what the Government are doing and see they're not investing, so how on earth the Government expect companies (despite sitting on cash) to invest... they're not thinking logically and again, you have to question how many MPs have actually run a business before. Practically zero, so that lack of knowledge is clearly making a big difference.

    The numbers speak for themselves - a triple dip on the horizon, the threat of the UK losing our AAA status. It'll mean borrowing will go up for you and me.
    And yes he can do things better but who would you want trying to make those changes Gordon or George? one dip does not necessarily mean recession is on the horizon, we have to get used to things being different than before the credit crunch
    Last edited by Robz; 25th January 2013 at 12:13 PM.

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    Quote Originally Posted by andyturpie View Post
    We all as individuals have to take a slice of responsibilty for the mire we are in. Too many of us living their lives on the old flexible friends, we complain that we are poor, but we have luxuries like large screen TV's, all the best gadgets and are part of the throwaway society. We don't really know the meaning of poor, like our parents and grandparents. I see Osbourne only reacting to society's actions.
    Surely those who borrowed too much and lost their homes have borne the responsibility of their actions. Or if you borrow too much on your credit card you eventually end up facing balifs or bankruptcy - again appropriate consequences for the actions of the individuals. I don't see how you can blame individual borrowers for bankrupting the banks - that is the responsibility of the bank managers and it is a responsibility of such huge magnitude that they are paid millions to bear it. But you seem to say it's not their fault?

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    Quote Originally Posted by pcstru View Post
    Surely those who borrowed too much and lost their homes have borne the responsibility of their actions. Or if you borrow too much on your credit card you eventually end up facing balifs or bankruptcy - again appropriate consequences for the actions of the individuals. I don't see how you can blame individual borrowers for bankrupting the banks - that is the responsibility of the bank managers and it is a responsibility of such huge magnitude that they are paid millions to bear it. But you seem to say it's not their fault?
    Good point, but just because a bank offers a service or deal (lets say allow mortgages on ad hoc overtime payments) , we as individuals should be intelligent enough to stop and say "thanks for the offer Mr Banker, but no deal". Again banks did behave recklessly, but only dancing to the tune of the customers no demand, no reckless gambling.

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    Quote Originally Posted by Robz View Post
    And yes he can do things better but who would you want trying to make those changes Gordon or George? one dip does not necessarily mean recession is on the horizon, we have to get used to things being different than before the credit crunch
    We're one more quarter away from a triple dip which I think is highly likely, simply because the Christmas season should create more sales and more growth. It didn't because confidence is extremely low, both with the public and in business in general.

    In my opinion, I think the fundamental problem with the Chancellor role is that it's controlled by one person. There's obviously groups of professionals/experts who assist the Government in making decisions in the background, but theoretically any Chancellor can simply ignore all this and carry on. I'm finding it incredibly hard to believe these groups of professionals/experts are advising the Government to carry on cutting at the level they are.

    To the best of my knowledge, there never has been a triple dip even with Word War I and II debts. That gives you an idea just how logistically complex this problem is and the final decision shouldn't be left to just one person appointed Chancellor.

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    Gordon Brown probably shouldn't have sold all the gold off, and certainly shouldn't have announced that he was about to flood the market to plummet the prices just before he did.

    But George Osborne is also a pillock for refusing to acknowledge the proof in front of his eyes and continuing to push forward with his austerity measures on the basis of a flawed analogy. The recent headline High Street closures that are still taking place, would, you might hope, be a wake up call, but I fear that the ghost-possessed-sausage that is our Chancellor is as oblivious and disconnected from reality as all our politicans are. If not more so.

    The problem is I wouldn't want any of them running the economy.

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