Friday, Jan 23, 2009
Incompetence? NO! Corruption? YES!
Telegraph: UK recession: Gordon Brown admits he failed to see economic crisis
He said that despite warning about the possibility of some breakdown in the markets it was impossible to predict over the past 10 years that they would seize up totally.
The Prime Minister refused to admit that Britain was living through "a bust" and repeatedly failed to say that in fact he had not abolished "boom and bust" - an achievement he often claimed while he was Chancellor.
Mr Brown said that previously the whole of economic policy had been focussed on "how to control inflation". The Government had recognised there had been a danger of "institutional failure in the banking system" and acted to bolster national regulation, he insisted.
Posted by flintster1994 @ 11:31 AM (373 views) Add Comment
9 Comments
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1. greytornado said...
Brown is unbelievable - he says quote " We have low public debt, low inflation and wages are under control". He can't seem to see that he has made the UK bankrupt and we now have vitually unlimited liabilities, which will be way beyond the ability IMF to bail out. Brown will embark soon on a policy of printing money, to give to the banks who will in turn lend it back to the Government. This is literally criminal.
Gold by the way is going up at an interesting rate - look at the chart on Bullionvault or Kitco. A bullion gold sovereign will today cost you £163 - only a few weeks ago you could have bought sovs for £117. One ounce coins like krugs will cost you £695 today. This shows the dramatic collapse of the pound - gold is both money and a store of wealth. True to form; Labour Governments always end up wrecking the economy. This time around, there will be hyperinflation. What a bunch - Labour won't get re-elected for 50 years after this depression.
2. Neo-serf said...
He was warned - twice...
The guy clearly isn't well...
http://uk.youtube.com/watch?v=qHqrBb-nRbs&feature=channel_page
3. plato said...
Interested to know reason for your title flintster. I agree, simply because I just 'know' they are corrupt. With no proof as such,only the fact that they continuallly divert with ambiguity and spin. That's Lie in normal language (allegedly).
As greytornado says above : "What a bunch - Labour won't get re-elected for 50 years after this depression."
IMHO I find it difficult to believe they will even come 4th. Distinction is near.
4. flintster1994 said...
I'm afraid thats top secret Plato! I could tell you but then i'd have to kill you!
5. letthemfall said...
plato: " Distinction is near"
Come on now plato, they're not that good.
6. plato said...
OMG Did I put 'distinction'? Sorry was at the races - mind elsewhere. No doubting 'extinction' is the word.
7. plato said...
flintster.......
Cheers! Think I'd rather live without the knowlege about these creatures than die with it.
8. str 2007 said...
He told the BBC: "What we did not see, nobody saw, was the possibility of markets failure."
Yes they did.
9. enuii said...
Notice the the use of the royal We rather than the confident I.
Blunkett could have done a better job of running the country or being chancellor and he can't see anything.