Saturday, May 21, 2011

…meanwhile Cable sends the real message

Vince Cable: People do not understand how bad the economy is

Vince Cable has warned that the political class has not yet prepared the public for the scale of the underlying problems facing the UK economy and the coming squeeze on living standards. In a frank interview with the Guardian the business secretary repeatedly referred to the time and pain that will be needed to restructure what he regards as a broken economic model.

Posted by dill @ 07:39 AM (3365 views)
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19 thoughts on “…meanwhile Cable sends the real message

  • …meanwhile Cable sends the real message.

    I think you are right there. I feel akward saying many folk are interested in binge nights, false nails, tanning and all the other body stuff while owing very large amounts of cash on the houses and cars which they really can’t afford….but I know a lot of these folk.

    Popular TV has taken over from real life in Essex. Antics on Ice, on the dancefloor or in the jungle seem uppermost in conversations on trains (I get about a lot)! Is anyone interested in money and debt or am I a boring old f4rt?

    As Vince says, politicians don’t make it clear how bad off we are for fear of losing popularity. How does this all end?

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  • in the 1920’s america went on a similar binge though not as big….drugs,drink and selfish anti social behaviour came from the ‘wealthy’
    middle and upper classes…money and stockmarket obsession.

    It ended very badly,but no doubt brought people down to earth.

    Either all known economics no longer apply or we are in for a huge shock to the system

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  • 1. alan said…How does this all end?

    ~ People were asking that question thousands of years ago.

    Better to ask yourself how it began?

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  • 2. taffee,

    The shockmarket is coming again.

    It’s nice to know, in this day and age, that one can at least bank on something reliable.

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  • After a year in government, an exercise in hand-wringing, with no clear message or vision for the future; is not going to greatly inspire the populace.

    This is a time for bold initiatives, not snivelling..

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  • UT @ 3. Well said. Most disbelieved and discredited phrase of the last 12 months. “We’re all in this together”.

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  • letthemfall says:

    “Bold initiatives” – you sound like a politician uncle tom.

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  • ltf,

    – Except that I mean it!

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  • taffee – “Either all known economics no longer apply or we are in for a huge shock to the system”

    I could not agree more!

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  • @UT,
    “This is a time for bold initiatives, not snivelling..”

    Yes, boldness and initiative… plus honesty, endeavour, hard work. Backing onto the wicket has dire consequences in cricket, no less with national leaders.

    Otherwise….”we are in for a huge shock to the system” as stated above.

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  • I thought it was a good article , as honest as you are likely to get from a politician .

    From the readers comments on other Guardian articles it seems that quite a few people who read it are in cloud cukoo land . I was looking forward to the comments on this one but that feature does not appear to be enabled .

    Good to see we have them here !

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  • You are all ruling out Innovative Lending Solutions coming to our rescue…

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  • stillthinking says:

    Lots of people do I understand IMO, which is why there is so little investment in the UK.

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  • general congreve says:

    Was out with friends last night, some were teachers and were moaning about their pensions and whether to go on the next protest march. The consensus was to take the day off to go on the march, but actually go to the pub instead!

    I pointed out that it wasn’t a case of the government won’t pay, but that they can’t pay, and that their pension contributions were going to today’s pensioners and that the whole thing is a giant ponzi scheme. They all nodded in agreement, but I’m not sure they really understand the gravity of the situation. Anyway, I left it at that and got on with drinking myself silly, as I didn’t want to spoil a good night.

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  • letthemfall says:

    Did any of your teacher friends point out that their scheme has already been modified to deal with the longevity problem – higher contributions and later retirement age. Or had you all drunk yourselves too silly by that time?

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  • @nomad Most disbelieved and discredited phrase of the last 12 months. “We’re all in this together”.

    You have to understand that from David Cameron’s perspective the phrase is sincerely believed and not discredited. The way he sees it, you really are all in this together.

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  • general congreve says:

    @12 – Yep, slap a year on retirement and knock off a few quid a week for everyone, that’ll solve 7 Trillion pound off-balance sheet shortfall, I’m sure of it.

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  • letthemfall says:

    Shows that your knowledge of public sector pension changes, and probably all the actuarial details, are pretty much non-existent.

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  • Welcome to the Nu Vorld Orda.

    See, it wasn’t just sillly hand signals and group photo ops, but most kept on laughing.

    Not anymore, and to think, this is just the warm up phase. There’s so much more.

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