We Remain Over-Reliant On The Buoyancy Of House Prices - Lord Darling.

[Bruce Banner]

Not news to anyone here!

We remain over-reliant on the buoyancy of house prices, our service sector and debt-driven consumer spending.

http://labourlist.org/2016/04/time-for-a-reality-check-before-the-eu-vote-alistair-darlings-speech-as-the-referendum-campaign-is-launched/

[winkie]

AD is right......if we were in a stronger healthier economic position.... that is, having a more balanced economy, strong and functioning manufacturing industry, a nation self reliant on energy going into the future, healthy balance of trade, and not such a high deficit functioning on growing cheap debt to sustain it, along with a top heavy not that strong financial and falling wages service industry amongst other reasons we would be safe to exit and go it alone....as it stands imo we are not......just saying.

[Bruce Banner]

AD is right......if we were in a stronger healthier economic position.... that is, having a more balanced economy, strong and functioning manufacturing industry, a nation self reliant on energy going into the future, healthy balance of trade, and not such a high deficit functioning on growing cheap debt to sustain it, along with a top heavy not that strong financial and falling wages service industry amongst other reasons we would be safe to exit and go it alone....as it stands imo we are not......just saying.

He is right insofar as we are reliant on a housing bubble and consumer debt. He should know because he is one of the three men who have presided over it.

We are in our current predicament due to the actions of our present Chancellor and his two predecessors. In my opinion, we need to turn over a new leaf and an exit would be as good a place to start as any.

[Guest]

This is the man that bailed out the banks. If we have an over-reliance on house prices and the service sector, whose fault is that?

If we need a 'rebalancing', why did he do everything he could when he was Chancellor to avoid one?

His speech just bangs on and on about the 'risks' of leaving, as if 'confidence' is all that is required for a healthy economy. How about we try building an economy not based on sentiment but one based on actually making things, doing useful work, and paying workers enough to have a decent life?

As for free trade with Europe, the picture is not as simple as he makes out. 'Free trade' in the neoliberal UK is mostly one way - all our industry and services sold off and the transaction rebranded as 'inward investment'. Other EU countries have their state-run companies buy our trains and our water and our electricity generation. And EU rules increasingly favour big business - again I will point to EU VAT on digital goods. Over a year after its introduction - mountains of evidence that it's hurting small digital entrepreneurs later - and there is still no action from the EU and no threshold for VAT registration.

I'm not convinced either way on Europe but I'm not going to listen to Alistair Darling. He was wrong in 2008, I think he was wrong about Scotland, and he's likely wrong now.

[Dorkins]

Not sure I'd describe high house prices as "buoyant", more like "a crushing weight that is forcing down the living standards of tens of millions of British people".

[winkie]

He is right insofar as we are reliant on a housing bubble and consumer debt. He should know because he is one of the three men who have presided over it.

We are in our current predicament due to the actions of our present Chancellor and his two predecessors. In my opinion, we need to turn over a new leaf and an exit would be as good a place to start as any.

This whole referendum is not giving people any answers to their questions....it is based on fear and unknown unknowns....nobody knows anything....six of one half a dozen of the other....anybody's guess, but rest assured whatever goes wrong will be blamed on whatever the outcome is....

[billybong]

and he's a banker.

[“Nasty Piece of work”]

Lord....

[olde guto]

I'll give him one thing, at least he didn't introduce the HTB schemes that have helped fuel the recent HPI.

[thewig]

I heard some guy on the bus the other day saying he's a satanist and a very high level freemason.

[200p]

Beard alert!

---

Back in the day, one of the most famous things about Mr Darling was his insistence on wearing a beard, because commentators deemed facial hair not very New Labour.

Amid rumours he was under orders to get rid, Mr Darling did eventually shave it off.

The beard was reputedly favoured by wife Maggie.

http://www.bbc.co.uk/news/uk-scotland-scotland-politics-28857052

Corbyn leads the new charge on beards.

Edited April 16, 2016 by 200p

[billybong]

We Darling and his cronies remain over-reliant on the buoyancy of house prices, our service sector and debt-driven consumer spending.

Project Confidence Trick , Project Bunko, Project Swindle.

Edited April 16, 2016 by billybong

[Bloo Loo]

I'll give him one thing, at least he didn't introduce the HTB schemes that have helped fuel the recent HPI.

nah, he had key worker schemes and everything BUT help to buy

[billybong]

He probably wouldn't admit it but the idea of HtB was probably being developed and already in the government pipeline when he was Chancellor. If they'd been re-elected they would have introduced it or something like it.

Edited April 16, 2016 by billybong

[interestrateripoff]

Once more out of office suddenly he can admit the problem!

[billybong]

Once more out of office suddenly he can admit the problem!

+1

but only on an issue and with a timing to suit his own self serving agenda.

Edited April 16, 2016 by billybong

[pig]

AD is right......if we were in a stronger healthier economic position.... that is, having a more balanced economy, strong and functioning manufacturing industry, a nation self reliant on energy going into the future, healthy balance of trade, and not such a high deficit functioning on growing cheap debt to sustain it, along with a top heavy not that strong financial and falling wages service industry amongst other reasons we would be safe to exit and go it alone....as it stands imo we are not......just saying.

Well thank God for that - I was starting to think I was the only one taking that position.

What would then follow, as hpi faltered, billionaire oligarchs, tax free corporations etc had second thoughts is the perfect excuse for MORE crazy measures rendering the country even more unhinged, unsalvable and working purely for 'benefits' of the above at the expense of the population.

Edited April 16, 2016 by pig

[“Nasty Piece of work”]

I agree with the point, BUT him suggesting it is a bit ridiculous. He is rather selective in his memory.

[PopGun]

Beard alert

Corbyn leads the new charge on beards.

Hipster Labour

[oracle]

Hipster Labour

so out of fashion now.

everybody knows that "monk" haircuts are the new thing.

[billybong]

.

Edited April 17, 2016 by billybong

[nome]

A bit like a heroin addict remains over-reliant on the nice feeling that heroin gives him even though it's destroying him and will eventually kill him.

[MattW]

Well Darling (sounding a bit 'Blackadder Goes Forth' there) you had your chance 7 or 8 years ago to put the kybosh on BTL mortgages when the financial crisis hit and you didn't!

[Blod]

Maybe we could start a thread naming people who could have done some good whilst in their positions but chose not to.

We could have a list of their policies and speeches. When does Carney leave the BOE?

[pig]

What’s the response to this wall of evidence? They play the man not the ball. They cannot compete on the substance of the message, so they attack the messenger.

http://labourlist.org/2016/04/time-for-a-reality-check-before-the-eu-vote-alistair-darlings-speech-as-the-referendum-campaign-is-launched/

Well - he's either a prophet or a regular reader of these forums lol !

Would be great if the debate did actually focus on hpi and the unbalanced economy, better still if it actually became a mainstream measurement of political effectiveness beyond this current debate. Bizzare to think since the credit crunch - 8 years ago!! - its been all about immigration and straight bananas....