Wednesday, July 9, 2008

A fool in denial or a man out of touch?

Gordon Brown to put brave face on economic bad news

''...Gordon Brown will insist today that the UK will ride out the current downturn despite growing fears that the economy is entering its first recession in more than a decade and a half. The Prime Minister, talking at the G8, will say that the economy is “well placed” to survive the difficult economic circumstances including rocketing oil and food prices and the credit crunch. ...''

Posted by hpwatcher @ 10:41 AM (1667 views)
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14 thoughts on “A fool in denial or a man out of touch?

  • Is this Gordon Brown’s “Brave Face”?

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  • uncle chris says:

    I think he’s a man who has become so entrenched in the New Liebour world of spin and deceit that he thinks the same old tricks will continue to fool most of the people.

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  • tyrellcorporation says:

    He looks bloody dynamic in that photo, thanks God he’s steering us through this crisis!!!

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  • Out of touch, or actually ill in the head?

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  • justwatching says:

    The first time I have swore at the telly was yesterday (apart from the occasional bit of sport)

    It was listening to Gorddddooooon.

    Gwobal pwoblems, gwobal ecomony, gwobal fwood pwices, gwobal energy cost.

    UK plc is OK in the long term????????????? What about today, tomorrow?

    Why have you wasted sooo much cash, you profligate shizzer.

    I called him a c**t.
    Sorry, it just slipped out.

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  • “Policymakers on the Bank’s Monetary Policy Committee (MPC) are set to hold interest rates at 5 per cent for the third month in a row after the two-day meeting as inflation fears jostle with concerns over an economic slowdown.”
    Does someone have inside information or was this a typo?
    Justwatching – I am sure you won’t be the only one to swear at the b**tard with the gilt-edged pension who sold off our gold at bargain basement price and couldn’t even manage to put some money aside during at least a decade of incredible tax take from booming house prices and fat company profits. If that’s what he managed during good times what will he do during a recession? And he calls that Prudence and tells us not to waste food scraps!

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  • @ a saver,

    The newspaper’s predictions are probably based on the market’s predictions. Without going into the technicalities, if the markets expected a BoE interest rate change then bonds and currencies would already be priced to take it into account. If the price hasn’t changed much then it means the markets don’t expect a rate change. The markets are usually fairly accurate about this, although sometimes they are caught off-guard by surprise changes.

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  • The picture posted above by cornishman is apt:
    “Asleep on the job”

    The thing that is really nauseating is that Brown is an illegimate PM who is making the public suffer by watching him and his pathetic party limp and crawl to the next election. Once there they will probably just about manage to rise to their feet only to be completely blown out of the door by the breath of the Conservatives.

    Brown will never regain the respect of the public because he bottled it and denied the public the right to vote for him or somebody else. His destiny is sealed.

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  • I think more importantly Denzil, Brown trashed the UK economy with a misguided credit boom. That sealed his destiny, and everyone else’s for the next 25 odd years.

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  • Paul, through fear of sounding arrogant, I don’t actually believe the public have really twigged as to full extent of Brown’s economic legacy and simply imagine it’s the fallout from a US problem. Yes there is a lot of fallout from US problems but Britains debt mountain and high taxation economy has left us completely bereft of weapons to protect ourselves.

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  • The next time he says the UK is better placed than most other countries to weather the economic storm the interviewer should ask him to name a few of those countries. Do you think he’d weasel out of answering the question?

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  • Denzil the bubble here is bigger than the US (prices have risen higher) , and residential mortgage debt to GDP in both are about 80%.

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  • beartil2010 says:

    However we have higher personal debt and higher taxation levels don’t we? So we are in an even worse situation?

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