Saturday, Jan 01, 2005
UK economy cries out for credible rescue plan
The Times: UK economy cries out for credible rescue plan
"IT IS now clear that the UK economy entered the recession with a large structural budget deficit."
Posted by devo @ 01:00 AM (993 views) Add Comment
8 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. alan said...
Ahead of the election, neither party seems willing to make any concrete statement for fear of being rubbished by the other parties.
I fear we can only sit on our hands for so long, chaps. Who wants to go first?
2. freemanphil said...
The only rescue plan is that HM Govt gives up the ghost and hands money back to citizens so that they can finally make sensible decisions,. Elitists only ever produce too much of the wrong thing, its nonsense that they would ever get it right via manipulation. So, Rothschilds, have a nice picnic, but pass over capital to people who can actually produce something and you may actually get something.
3. novice pete said...
@2 The only rescue plan is that HM Govt gives up the ghost and hands money back to citizens so that they can finally make sensible decisions.
Sensible decisions? Like buying overpriced property? The citizens have had access to lots of cheap money, which has lead to not very many sensible decisions.
4. ant said...
I am sorry: but what is the credibility of these guys? They were in their high positions for all those years that led to the current crisis, which is based on trivial fraud called a pyramid scheme. (Read this: "The largest heist in history" - http://gregpytel.blogspot.com/2009/04/largest-heist-in-history.html)
They did not spot the obvious. These guys should simply shut up: their time to raise concerns was 3 - 4 - 5 - 6 years ago. They try to hide their deficient knowledge, or more, behind sensibly sounding, but vacuous in substance, letters now. Maybe they remind us what some (all?) of them were writing about the state of the UK economy in the last decade?
5. mander said...
Cutting the defficit when private sector has been paralised by a weak currency and high taxes will be unlikely. No one will buy into this idea of cutting the deficit to really happen. In a recession he solution is to cut taxes and put interest rates up because this will support genuine profitable businesses and not the businesses dependent on hot money.
6. rumble said...
mander, " In a recession he solution is to cut taxes "
-- the impending 20% vat .... http://www.timesonline.co.uk/tol/news/politics/article7025833.ece
7. icarus said...
Only 20 economists? In 1981 there were 364 economists writing to The Times on this subject. On that occasion they OPPOSED the raising of taxes during a recession.
The current submission by these economists doesn't state how their proposal differs from the Treasury's plans to deal with the deficit, other than to tell the Treasury/govt to be quick about it.
8. Inflation Is Inevitable said...
We won't get credible decisions until we have a credible electorate. Do we really expect the current career politicians, to understand what obvious to those on the ground. We won't get credible decisions until our politicians come from stock that have done real world jobs. If we don't change the system what do you expect. We will just get mistake after mistake, and no changes to policies that are apparently beneficial (at least in the short term).
What we have governing us is a mixture of the incompetent, and willfully complicit short-termists on the make, and the occasional ridiculed white knight . I have now idea how we put any of it right. An intelligent electorate would be able to sift the god from the bad, but when education gets messed up, and the populous is fed a diet of mass distraction - what then?
I've read a lot about what is wrong, I think we need to start having some ideas on here about what we (as powerless as we may seem to be to put things right).
So far the best i've got is as follows:
1. Explain to friends and family what is going on, backing up the statements with credible predictions of what will happen next and why, so the arguments a backed up by some validity, or at least good verifiable examples from history of what happened in similar circumstances.
2. Teach our own kids, don't just rely on the state.
3. Vote
4. Push proportional representation, even with it's problems it's the best way I can see of getting worthy topics in the public arena.
5. Letters to the papers
6. Sites like this.
7. Save.
8. Don't use credit
9. Punish banks by withdrawing custom when they are giving you poor value.
10. Lobby your MP about key issues.
11. Become as self sufficient as you can.
Maybe we are powerless,