Gordon Brown was the best chancellor the UK ever had.

[burk]

According to the aging hippy next to me on the campsite, that is.......

After I composed myself I merely asked:

Who deregulated the banks, exploding credit giving us out of control asset prices including housing?

Who destroyed private pensions?

Who sold off the country's gold at historic lows?

Who kept borrowing to maintain growth?

Apparently I was wrong, and he is revered around the world for how he saved the banks according to said aging hippy.

So two questions arise:

1) Am I wrong in my critique of the Scottish Cyclops? &

2) Do aging hippies consume such high quantities of psychoactives as to effect cognition to such a degree they talk this much nonsense?

 

 

 

[Sour Mash]

He saved the global banking system!

[Insane]

Don't forget he introduced tax credits destroying many full time jobs and creating armies of people working 16 hours a week who relied on the tax payer to make up their wages. 

8 minutes ago, burk said:

Who destroyed private pensions?

This was just being discussed on GBNews when they were talking about people might have to wait until they are 71 for the state pension. Commentator stated that since private pensions were destroyed more and more people are relying more on the state pension.  

[70PC]

25 minutes ago, burk said:

According to the aging hippy next to me on the campsite, that is.......

After I composed myself I merely asked:

Who deregulated the banks, exploding credit giving us out of control asset prices including housing?

Who destroyed private pensions?

Who sold off the country's gold at historic lows?

Who kept borrowing to maintain growth?

Apparently I was wrong, and he is revered around the world for how he saved the banks according to said aging hippy.

So two questions arise:

1) Am I wrong in my critique of the Scottish Cyclops? &

2) Do aging hippies consume such high quantities of psychoactives as to effect cognition to such a degree they talk this much nonsense?

"I will not allow house prices to get out of control and put at risk the sustainability of the recovery." Gordon Brown

[nero120]

43 minutes ago, Sour Mash said:

He saved the global banking system!

Surely that is yet another reason to despise the man!

[bomberbrown]

I take this view point:

“Miners are to Margaret Thatcher as I am to Gordon Brown”

I could never comprehend the vitriol the miners had to Maggie until we had 13 years of Gordon Brown. Now I get it!

[Sackboii]

39 minutes ago, 70PC said:

"I will not allow house prices to get out of control and put at risk the sustainability of the recovery." Gordon Brown

“No more boom and bust.” Gordon Brown

Also, whatever became of Prudence ? 🤔

[reddog]

Your camping at this time of year?

 

I recommend wilderness camping.  There are more intelligent squirrels than some of the people out there.

[burk]

Cheers for the replies many of which were going through my head listening to said hippy.

It was only when I got back to my van did i realise the very reason I'm living in my van can, in part be traced back to Gordon Brown.

I should point out the conversation started reasonably pleasant, both talking about Wales, when I (in hindsight) shat in the punch bowl by criticising Drakeford's incompetence and the lefts quite strong record in this regard.

Cue much frothing about the Tories, to which I wholeheartedly agreed; that they were indeed a shower of $hit but not for the reasons he thought.

But to present a case for bringing back Gordon Brown and the excitement he seemingly has for the coming Starmer regime I feel maybe misplaced.

I have, in the intervening few hours been reading historic articles to do with said Chancellor of the people and can confirm the recent financial misery we're living through has its origin with him......

So Gordon's Top three ****** up's (as I see it):

1) Badgering the FSA for 'light touch' banking regulations.

2) Tax raid on pensions leading to alternatives (Housing) despite repeated warnings by the Treasury not to do this.

3) Borrowing like a teenager with his Mum's credit card to pay for everything.

Honorary mentions

PFI.

Universal Credit (nation of part timers).

Normalising benefits culture.

Looking for more from the group should I bump into him tomorrow......

 

 

 

[debtlessmanc]

He kept us out of the euro- made the difference between leaving and remaining, whatever you make of that.

[pandabear]

Actually repaid some of the national debt in the first two years of his tenure.

Then it seems that someone 'ad a word with 'im, and suggested he blows all of our futures.

Still maybe one of the best Prime Ministers we have had in the last 50 - 60 years.  Although that isn't saying much.

[burk]

14 minutes ago, debtlessmanc said:

He kept us out of the euro- made the difference between leaving and remaining, whatever you make of that.

Yep, fair point

[onlooker]

5 minutes ago, pandabear said:

Actually repaid some of the national debt in the first two years of his tenure.

Then it seems that someone 'ad a word with 'im, and suggested he blows all of our futures.

Still maybe one of the best Prime Ministers we have had in the last 50 - 60 years.  Although that isn't saying much.

Surely the Worst Prime Minister?

Actually in my view making the Bank of England responsible for setting interest rates based on trying to get inflation at 2% was among his worst mistakes. That triggered the house price boom of c.2000, from which most of the other evils derived.

[Maghull Mike]

THe Parasites have killed the host.

Mike

[burk]

7 minutes ago, pandabear said:

Actually repaid some of the national debt in the first two years of his tenure.

Then it seems that someone 'ad a word with 'im, and suggested he blows all of our futures.

Still maybe one of the best Prime Ministers we have had in the last 50 - 60 years.  Although that isn't saying much.

That's interesting, as I read as much in an article that said he followed Tory spending plans to 2000 then let all hell loose.

As for best PM, & looking at the competition, I can't help but think of prettiest pigs in the abattoir.......

[burk]

37 minutes ago, reddog said:

Your camping at this time of year?

 

I recommend wilderness camping.  There are more intelligent squirrels than some of the people out there.

Will be doing that later on in the year when up country.

[Unmoderated]

2 hours ago, burk said:

So two questions arise:

1) Am I wrong in my critique of the Scottish Cyclops? &

2) Do aging hippies consume such high quantities of psychoactives as to effect cognition to such a degree they talk this much nonsense?

1. No you're right. He's also the reason I didn't buy a house until my late 30s.

2. Yes. Yes they do. I have one particular friend who is increasingly delusional about the way things are and the way they work. Common trait = vast quantities of psychoactive substances consumed.  

2 hours ago, Sour Mash said:

He saved the global banking system!

He saved the world:

43 seconds in : 

 

2 minutes ago, onlooker said:

Surely the Worst Prime Minister?

Actually in my view making the Bank of England responsible for setting interest rates based on trying to get inflation at 2% was among his worst mistakes. That triggered the house price boom of c.2000, from which most of the other evils derived.

Adjusting the measure of inflation from RPI to CPI (in advance of looking to take us into the Euro was the sinister reason) really screwed us. BTL lending under Labour accelerated markedly. 

I'm fine with having independent rate setting. Making government able to override monetary policy means it's far easier to win elections given the vanishingly small attention span and memory of your average voter. 

The house price boom ultimately lead to 2007/08 and the GFC. All growth built on debt. 

Labour doubled the % ratio of national debt from 1997 to 2010 from 36.6% to 70.9%.

https://www.statista.com/statistics/282841/debt-as-gdp-uk/

Not that the Tories have been much better, and I'll find it hard to forgive them for locking everyone up for the best part of two years over Covid but they're at 97.9% now. Arguably worse given the very low interest rates would reduce the cost of debt servicing. 

While I think Labour can be blamed in a large part for the impact of the GFC on the UK it's harder to blame Tories for Covid. Although they could have certainly managed things better and followed the Swedish approach I don't recall Labour objecting to lockdowns or furlough payments (I think they might have suggested that furlough be even more generous). 

[onlooker]

24 minutes ago, Unmoderated said:

1. No you're right. He's also the reason I didn't buy a house until my late 30s.

2. Yes. Yes they do. I have one particular friend who is increasingly delusional about the way things are and the way they work. Common trait = vast quantities of psychoactive substances consumed.  

He saved the world:

43 seconds in : 

 

Adjusting the measure of inflation from RPI to CPI (in advance of looking to take us into the Euro was the sinister reason) really screwed us. BTL lending under Labour accelerated markedly. 

I'm fine with having independent rate setting. Making government able to override monetary policy means it's far easier to win elections given the vanishingly small attention span and memory of your average voter. 

The house price boom ultimately lead to 2007/08 and the GFC. All growth built on debt. 

Labour doubled the % ratio of national debt from 1997 to 2010 from 36.6% to 70.9%.

https://www.statista.com/statistics/282841/debt-as-gdp-uk/

Not that the Tories have been much better, and I'll find it hard to forgive them for locking everyone up for the best part of two years over Covid but they're at 97.9% now. Arguably worse given the very low interest rates would reduce the cost of debt servicing. 

While I think Labour can be blamed in a large part for the impact of the GFC on the UK it's harder to blame Tories for Covid. Although they could have certainly managed things better and followed the Swedish approach I don't recall Labour objecting to lockdowns or furlough payments (I think they might have suggested that furlough be even more generous). 

What he said.

It isn't just the fault of psychoactive substances. I have a wife and daughter who refuse to believe that Labour governments have been and always will be a disaster for the country. But then one has never really had to work while raising a family, and the other works for the state (or as much work as teaching part time means working - she doesn't have to take her job too seriously, like I did during my career).

[DarkHorseWaits-NoMore]

Wake me up when we get a Labour gov't that isn't a wet Tory implementation continuation, then tell me the last time we had a socialist leaning Labour party in power, that represented the 30 million workers and their families...
Zzz and I'll prove that we're both actually still dreaming...

[TenYearToGetMyMoneyBack]

11 hours ago, nero120 said:

Surely that is yet another reason to despise the man!

I thought that was Alistair Darling who had to sort out the mess Gordon created.
Don't forget that the Americans only repealed the Glass- Stegall act because they couldn't compete against the casino like betting in London.

9 hours ago, Unmoderated said:

Adjusting the measure of inflation from RPI to CPI (in advance of looking to take us into the Euro was the sinister reason) really screwed us. BTL lending under Labour accelerated markedly. 

  BTL lending was negligible before New Labour

The other thing that flourished on Gordon's watch was Self Certification liar loans. Time to repost the programme which allowed me to predict the 2008 crisis back in 2003. Back full circle the problem was that both the liars and the banks lending to them got bailed out with taxpayers and savers money.

 

[Unmoderated]

3 hours ago, TenYearToGetMyMoneyBack said:

I thought that was Alistair Darling who had to sort out the mess Gordon created.
Don't forget that the Americans only repealed the Glass- Stegall act because they couldn't compete against the casino like betting in London.

  BTL lending was negligible before New Labour

The other thing that flourished on Gordon's watch was Self Certification liar loans. Time to repost the programme which allowed me to predict the 2008 crisis back in 2003. Back full circle the problem was that both the liars and the banks lending to them got bailed out with taxpayers and savers money.

 

Excellent post!

[frederico]

He was a terrible chancellor , like most of the others.

[Si1]

21 hours ago, burk said:

According to the aging hippy next to me on the campsite, that is.......

After I composed myself I merely asked:

Who deregulated the banks, exploding credit giving us out of control asset prices including housing?

Who destroyed private pensions?

Who sold off the country's gold at historic lows?

Who kept borrowing to maintain growth?

Apparently I was wrong, and he is revered around the world for how he saved the banks according to said aging hippy.

So two questions arise:

1) Am I wrong in my critique of the Scottish Cyclops? &

2) Do aging hippies consume such high quantities of psychoactives as to effect cognition to such a degree they talk this much nonsense?

 

 

 

Ageing hippy boomer who did very well off generational wealth transfer thanks very much.

Moaaaaaaaaaare.

[RentingForever]

19 hours ago, burk said:

As for best PM, & looking at the competition, I can't help but think of prettiest pigs in the abattoir.......

You and Cameron both.

[Clarky Cat]

On 07/02/2024 at 19:26, 70PC said:

"I will not allow house prices to get out of control and put at risk the sustainability of the recovery." Gordon Brown

Yes, this is the all-time classic quote.

Not only were house prices allowed to get out of control, but far worse than before. Destruction of the social fabric of society due to housing insecurity and expense, buy to let landlords, lack of productivity growth due to malinvestment in housing. Truly ruined any sustainability for the long run. Thanks.