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'years Of Pain Ahead' Says Dave

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Clegg in the Guardian sez no cuts like 80's....................DC sez Years of pain ahead in the Times..........

I guess everyone is happy, BTW when is our massive debt due to be rolled over?

Mike

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The two views appear consistent. There are years of pain ahead because there won't be any 80's style cuts. Different pain.

Clegg in the Guardian sez no cuts like 80's....................DC sez Years of pain ahead in the Times..........

I guess everyone is happy, BTW when is our massive debt due to be rolled over?

Mike

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There won't be cuts like in the 80s, because there aren't coal mines and other unworthwhile industries to cut like in the 80s. Instead it'll be cuts for others, place your bets here. Of course it won't be like the 80s, we're not in the 80s <_< Instead, we'll have 2010's style cuts :ph34r:

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Something strange that I have noticed in the last month or so: restaurants in London that used to be full and hard to book are now half empty.

I also read about posh nightclubs in St James having lost lots of business, but only in the last few weeks.

The only thing I can think off is the talk of austerity from the Tories.

Are these guys looking for reduced consumption in the UK?

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Clegg in the Guardian sez no cuts like 80's....................DC sez Years of pain ahead in the Times..........

I guess everyone is happy, BTW when is our massive debt due to be rolled over?

Mike

So are there cuts or not? This "please everyone" ploy they're playing just isn't good enough.

The world needs to see Britain gets it's house in order, or they'll slam the door on us.

And personally I wish they'd just get on with it asap instead of talking the talk anyway.

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Clegg Interview

His big promise to progressives is that the squeeze will not be implemented with the savagery of Margaret Thatcher's axe swinging. "Our collective memory of difficult budget decisions all hark back to the harshness of the 1980s," he says. "That is our folk memory."

But if "you look beyond our shores", the three biggest retrenchments of the 1990s "were all delivered by centre-left governments": the Social Democrats in Sweden, the Clinton administration in America, and the Liberals in Canada. He has "looked very carefully" at them as examples of how to avoid the grief of the Thatcher period. He acknowledges that even those more progressive governments made "really painful" decisions, including cuts to welfare benefits, but believes they "brought people along with them" by widespread debate and consultation. He also thinks tax reductions for people on lower and middle income earners will persuade them that, while "there is pain in the cuts, the tax system is working more in their favour".

Clegg pledges: "We're going to do this differently. We're not going to do it the way we did in the 80s."

One crucial strand of the promise is "making sure that we are sensitive particularly to those parts of the country – like my own part, south Yorkshire – which are very dependent on the public sector, so you don't just have a sink or swim approach to the north. We are not going to allow a great north/south divide to reappear like in the 1980s."

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We have got to take people with us on this difficult journey.”

No!! Just take those who got the UK into such huge amounts of debt on the "difficult journey".

Edited by billybong

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Instead, we'll have 2010's style cuts :ph34r:

Thank the Lord!

Not for millionaire ex public schoolboys I bet!

And multi-millionaire ex-PM's.

tony_blair_36968t.jpg

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There won't be 80's style cuts, because there weren't any. <_<

We need total government spending to reduce by around 6% every year for the next 4 years.

WhatCuts.gif

Source

Exactly. There were no actual overall reductions in public spending under Thatcher! Now, we need full scale cuts to survive. It will not be like the 1980's because it is far worse in some respects. Little union power, also only a 17% manufacturing base.

Mr Clegg has forgotten that it was inflation and high interest rates somewhat bluntly used to control it, that caused the depth of recession in the early 80's. The disgusting medicine did work, but divided the country as the effect was disproportionately borne by the poorest.

The 'pain' will invlove rebalancing the economy so that it is based on wealth creation and so much on public spending which is unsustainable. Wait for the crash!

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Something strange that I have noticed in the last month or so: restaurants in London that used to be full and hard to book are now half empty.

I also read about posh nightclubs in St James having lost lots of business, but only in the last few weeks.

The only thing I can think off is the talk of austerity from the Tories.

Are these guys looking for reduced consumption in the UK?

As Cameron says, we've been living beyond our means, so I think many people are starting to realise that. I mean I wouldn't be surprised if a lot of those people going to posh clubs and restaurants were people who were slapping the money on their credit cards and now going to cheaper places.

I'm actually quite glad that Cameron and Clegg are really talking up these cuts, because it will hopefully shell shock the nation into being a bit more sensible after the decade of lavish spending.

Just imagine if Brown was back in power? He'd have just kept fiddling the books and let us go bankrupt.

And BBC link to the Cameron Statement

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There won't be 80's style cuts, because there weren't any. <_<

WhatCuts.gif

The only person who cut severely was Callaghan I wonder if this is bluff by the political elites we aren't cutting like Thatcher, instead it's going to be like the Labour PM Callaghan?

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Something I've noticed in last couple of weeks is people I know in relatively safe employment are now getting worried.

Especially those working in large capital project type companies, they missed the 2008 dip as they were working on existing projects - but there is nothing in the pipeline.

I remember seeing a commentator in 2008 comparing the bank collapse that was in-progress to throwing a stone in a pond, the ripples from it to be felt like waves over the next decade.

Once the housing market comes down, we'll have bank liquidity problems again as 20% comes off their balance sheets - and it all starts again.

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  • 144 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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