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Post by Toreador on Dec 7, 2022 17:28:50 GMT
You can't note he was wrong when you do not even understand what he was referring to in his ending Boom and Bust comment. I took a wild stab in the dark and guessed he was talking about boom and bust. This lines up with a lot of other people's guesses, hence the Guardian article. You seem very sure, I always thought he said "There will be no more boom and bust". |
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Post by Orac on Dec 7, 2022 17:40:20 GMT
I took a wild stab in the dark and guessed he was talking about boom and bust. This lines up with a lot of other people's guesses, hence the Guardian article. You seem very sure, I always thought he said "There will be no more boom and bust". You might have a point there. I will double check |
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Post by Toreador on Dec 7, 2022 17:42:40 GMT
You seem very sure, I always thought he said "There will be no more boom and bust". You might have a point there. I will double check lol |
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Post by see2 on Dec 7, 2022 20:39:44 GMT
Another over opinionated poster, proving they know little to nothing about Brown. A few things he did. One was to raid pension pots almost immediately Labour assumed power in 1997, thereby depriving pensioners of a large part of their pension. Second one was to announce the sale of gold that brought the price down instead of just letting it on to the market tranche by tranche. Thirdly his refusal to hold a general election at a time he would have likely won.....and you can add to that his naivete in letting Blair hand him the reins at a time when Blair, and probably Brown himself, knew the sub-prime fiasco was imminent....no doubt he thought his forecast of "No more bust" would still work. 1. The Tories had already raided the pension pots. Brown raided them i.e. taxed the profits made by them as unearned income. Same as Thatcher had done with bank accounts. The exaggerated term Raid pension pots was done at a time when pension pots were so large that companies had stopped feeding required funds into them "pension holidays" was the term they used. The money that should have gone in was distributed amongst share-holders, when it should have gone to pensioner funds. The real damage done was by a sudden rise in early retirement done by many people on Final Salary pensions leading to the ending of final salary pensions by some companies and the opt out by other companies who couldn't afford to pay them. 2. The gold was sold by auction, so people had to be informed it was open to offers. A. Not all of the gold was sold. B. Some of the income was used to purchase foreign currencies. US Dollars, Japanese Yen and one other. The currencies were placed in the reserves with the rest of the gold, where they earned interest. Also, some of the return from the sales was used to reduce the National debt thus lowering the interest paid on the national debt, an ongoing benefit. 3. You might be right on that. 4. As you do not understand what his no more boom and bust referred to your last comment is wrong. |
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Post by see2 on Dec 7, 2022 20:46:41 GMT
You can't note he was wrong when you do not even understand what he was referring to in his ending Boom and Bust comment. I took a wild stab in the dark and guessed he was talking about boom and bust. This lines up with a lot of other people's guesses, hence the Guardian article. He was talking Boom and Bust. I'll give you a clue. He was NOT referring to international Boom and Bust, the insinuation by many people that he was, just reveals the fact that their bias overrules any common sense they may have tucked away somewhere. |
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Post by Toreador on Dec 7, 2022 20:48:55 GMT
I took a wild stab in the dark and guessed he was talking about boom and bust. This lines up with a lot of other people's guesses, hence the Guardian article. He was talking Boom and Bust. I'll give you a clue. He was NOT referring to international Boom and Bust, the insinuation by many people that he was, just reveals the fact that their bias overrules any common sense they may have tucked away somewhere. I'll settle for my 4/5 score. |
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Post by see2 on Dec 7, 2022 21:00:02 GMT
He was talking Boom and Bust. I'll give you a clue. He was NOT referring to international Boom and Bust, the insinuation by many people that he was, just reveals the fact that their bias overrules any common sense they may have tucked away somewhere. I'll settle for my 4/5 score. Cheat. |
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Post by Orac on Dec 7, 2022 21:01:31 GMT
I took a wild stab in the dark and guessed he was talking about boom and bust. This lines up with a lot of other people's guesses, hence the Guardian article. He was talking Boom and Bust. I'll give you a clue. He was NOT referring to international Boom and Bust, the insinuation by many people that he was, just reveals the fact that their bias overrules any common sense they may have tucked away somewhere. he didn't stop anything boom or busty I remember finding the claim ludicrous and this was at a time i still had some pretty stupid ideas myself |
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Post by see2 on Dec 7, 2022 21:04:37 GMT
He was talking Boom and Bust. I'll give you a clue. He was NOT referring to international Boom and Bust, the insinuation by many people that he was, just reveals the fact that their bias overrules any common sense they may have tucked away somewhere. he didn't stop anything boom or busty I remember finding the claim ludicrous and this was at a time i still had some pretty stupid ideas myself Wrong. Try again. |
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Post by sheepy on Dec 7, 2022 21:10:24 GMT
He was talking Boom and Bust. I'll give you a clue. He was NOT referring to international Boom and Bust, the insinuation by many people that he was, just reveals the fact that their bias overrules any common sense they may have tucked away somewhere. he didn't stop anything boom or busty I remember finding the claim ludicrous and this was at a time i still had some pretty stupid ideas myself But don't you know Gordon Brown is a vote winner, you have it all wrong it was the Tories what done it. |
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Post by andrewbrown on Dec 7, 2022 22:07:12 GMT
This all happened under a Labour watch (not blaming them directly for the 2008 financial crash), but you do have to blame the captain of a ship who's job is to weather the storm to bring his ship home safely. Labour failed miserably, and we are still paying the price for it now, we had Boom & Bust and still haven't got back to the boom, they mismanaged a global crisis, and we are still in the fallout. Did they? Or was the recovery stronger in 2009/10 under Brown and Darling than it was subsequently under Cameron and Osborne? |
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Post by Pacifico on Dec 7, 2022 22:39:40 GMT
1. The Tories had already raided the pension pots. Brown raided them i.e. taxed the profits made by them as unearned income. Same as Thatcher had done with bank accounts. The exaggerated term Raid pension pots was done at a time when pension pots were so large that companies had stopped feeding required funds into them "pension holidays" was the term they used. The money that should have gone in was distributed amongst share-holders, when it should have gone to pensioner funds. Well it should have but HMRC at the time was treating pension contributions by companies into overfunded funds as tax evasion so they had no choice but to take a pension holiday. You continually forget in your attempts to rewrite history that some of us actually were there.  |
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Post by see2 on Dec 7, 2022 22:42:07 GMT
This all happened under a Labour watch (not blaming them directly for the 2008 financial crash), but you do have to blame the captain of a ship who's job is to weather the storm to bring his ship home safely. Labour failed miserably, and we are still paying the price for it now, we had Boom & Bust and still haven't got back to the boom, they mismanaged a global crisis, and we are still in the fallout. Labour's first priority in the 2008-2010 period was to ensure that the recession didn't turn into a depression and they managed that problem extremely well. |
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Post by see2 on Dec 7, 2022 22:50:03 GMT
1. The Tories had already raided the pension pots. Brown raided them i.e. taxed the profits made by them as unearned income. Same as Thatcher had done with bank accounts. The exaggerated term Raid pension pots was done at a time when pension pots were so large that companies had stopped feeding required funds into them "pension holidays" was the term they used. The money that should have gone in was distributed amongst share-holders, when it should have gone to pensioner funds. Well it should have but HMRC at the time was treating pension contributions by companies into overfunded funds as tax evasion so they had no choice but to take a pension holiday. You continually forget in your attempts to rewrite history that some of us actually were there. It's good of you to acknowledge the over loaded pension pots but your suggestion that hapless companies had to feed their investors with what was pension money rather than to allow it to be used for the benefit of pensioners has a very hollow sound to it. One thing I didn't forget is just how arrogantly smart you THINK your are. |
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Post by Pacifico on Dec 7, 2022 22:50:27 GMT
This all happened under a Labour watch (not blaming them directly for the 2008 financial crash), but you do have to blame the captain of a ship who's job is to weather the storm to bring his ship home safely. Labour failed miserably, and we are still paying the price for it now, we had Boom & Bust and still haven't got back to the boom, they mismanaged a global crisis, and we are still in the fallout. Did they? Or was the recovery stronger in 2009/10 under Brown and Darling than it was subsequently under Cameron and Osborne? Well the first year recovery after a crash is always dramatic - or perhaps you believe that the UK's recovery from the crash due covid was thanks to the skill and expertise of Boris Johnson? |
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