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Post by Toreador on Dec 9, 2022 6:07:42 GMT
Time you wnt to bed seer2, an old man like you needs his sleep ready for tomorrow's challenges. Nah, you youngies need the stability and depth of thought that comes with age  Please be more respectful of your elders and betters you young whippersnapper. |
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Post by see2 on Dec 9, 2022 10:33:58 GMT
They were referring to the old habit of governments lowering interest rates so people borrow then hiking them to bleed to poor and feed the rich. What he (and you) are describing in rather glib, politicised terms is 'the business cycle'. NO! Brown's comment refers to the practice of all Labour and Conservative governments prior to NL, using inflation and interest rates to control OUR ECONOMY. He made that very very clear in his speech to the commons when he was using the term 'boom and bust'. It is recorded in Hansard. So every propagandist who either verbally or through their newspaper, attacked Brown's comment inferring it meant more than it did, KNEW THEY WERE SPREADING A LIE. |
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Post by see2 on Dec 9, 2022 10:35:40 GMT
Nah, you youngies need the stability and depth of thought that comes with age Please be more respectful of your elders and betters you young whippersnapper. If you like |
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Post by zanygame on Dec 9, 2022 10:42:00 GMT
They were referring to the old habit of governments lowering interest rates so people borrow then hiking them to bleed to poor and feed the rich. What he (and you) are describing in rather glib, politicised terms is 'the business cycle'. Strange then that when the BofE took over they only had to adjust rates by a couple of percentage points to meet the 'business cycle'  |
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Post by Orac on Dec 9, 2022 11:35:33 GMT
What he (and you) are describing in rather glib, politicised terms is 'the business cycle'. Strange then that when the BofE took over they only had to adjust rates by a couple of percentage points to meet the 'business cycle' It's not 'meeting the business cycle' (whatever that means). Interest rates were set artificially (politically) near zero, to bail out asset holders. This fictional economy divorced from reality, has now been maintained for over a decade As result, virtually everyone is now in debt, holding onto real estate assets that are about to devalue or holding onto cash that will be inflated away to nothing. If you think I invented 'the business cycle', please feel free to look it up. |
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Post by Toreador on Dec 9, 2022 12:21:39 GMT
Strange then that when the BofE took over they only had to adjust rates by a couple of percentage points to meet the 'business cycle' It's not 'meeting the business cycle' (whatever that means). Interest rates were set artificially (politically) near zero, to bail out asset holders. This fictional economy divorced from reality, has now been maintained for over a decade
As result, virtually everyone is now in debt, holding onto real estate assets that are about to devalue or holding onto cash that will be inflated away to nothing. If you think I invented 'the business cycle', please feel free to look it up. Since the early nineties in my opinion and under every government. |
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Post by see2 on Dec 9, 2022 16:19:22 GMT
Strange then that when the BofE took over they only had to adjust rates by a couple of percentage points to meet the 'business cycle' It's not 'meeting the business cycle' (whatever that means). Interest rates were set artificially (politically) near zero, to bail out asset holders. This fictional economy divorced from reality, has now been maintained for over a decade As result, virtually everyone is now in debt, holding onto real estate assets that are about to devalue or holding onto cash that will be inflated away to nothing. If you think I invented 'the business cycle', please feel free to look it up. It seems as though you now agree that the old pre-NL means of controlling the economy was through the use of boom and bust policies. |
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Post by Orac on Dec 9, 2022 16:49:48 GMT
It seems as though you now agree that the old pre-NL means of controlling the economy was through the use of boom and bust policies. You seem to be reading upside down - Interest rates were set artificially (politically) near zero, to bail out asset holders. In other word, the controlling really kicked in with the artificially low interest rates 'boom and bust' is the way our market economy works and the pattern has been noted since the industrial revolution. |
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Post by zanygame on Dec 9, 2022 20:37:23 GMT
Strange then that when the BofE took over they only had to adjust rates by a couple of percentage points to meet the 'business cycle' It's not 'meeting the business cycle' (whatever that means). Interest rates were set artificially (politically) near zero, to bail out asset holders. This fictional economy divorced from reality, has now been maintained for over a decade As result, virtually everyone is now in debt, holding onto real estate assets that are about to devalue or holding onto cash that will be inflated away to nothing. If you think I invented 'the business cycle', please feel free to look it up. Stop confusing history and current. We were discussing New labour 1997 and Gordon Browns claim to have ended boom and bust which you called the business cycle. Before 1997 interest rates varied from 5% to 18% After Blair gave control to the BofE they varied from 2 to 6%. Why are you talking about 2008 onwards. |
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Post by Pacifico on Dec 9, 2022 22:20:49 GMT
It's not 'meeting the business cycle' (whatever that means). Interest rates were set artificially (politically) near zero, to bail out asset holders. This fictional economy divorced from reality, has now been maintained for over a decade As result, virtually everyone is now in debt, holding onto real estate assets that are about to devalue or holding onto cash that will be inflated away to nothing. If you think I invented 'the business cycle', please feel free to look it up. Stop confusing history and current. We were discussing New labour 1997 and Gordon Browns claim to have ended boom and bust which you called the business cycle. Before 1997 interest rates varied from 5% to 18% After Blair gave control to the BofE they varied from 2 to 6%. Why are you talking about 2008 onwards. Interest rates are not set by the business cycle - they are a purely political decision. The idea that interest rates are a measure of boom and bust is quite funny. |
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Post by zanygame on Dec 9, 2022 22:30:14 GMT
Stop confusing history and current. We were discussing New labour 1997 and Gordon Browns claim to have ended boom and bust which you called the business cycle. Before 1997 interest rates varied from 5% to 18% After Blair gave control to the BofE they varied from 2 to 6%. Why are you talking about 2008 onwards. Interest rates are not set by the business cycle - they are a purely political decision. The idea that interest rates are a measure of boom and bust is quite funny. Your usual misunderstanding of what's being discussed. |
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Post by Pacifico on Dec 9, 2022 22:35:52 GMT
Interest rates are not set by the business cycle - they are a purely political decision. The idea that interest rates are a measure of boom and bust is quite funny. Your usual misunderstanding of what's being discussed. Oh sorry - I apologise. It's just that some clown earlier in the thread suggested that interest rates were a measure of the business cycle. Of course I know that you wouldn't be that daft to suggest that. |
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Post by zanygame on Dec 10, 2022 7:34:30 GMT
Your usual misunderstanding of what's being discussed. Oh sorry - I apologise. It's just that some clown earlier in the thread suggested that interest rates were a measure of the business cycle. Of course I know that you wouldn't be that daft to suggest that. Be easier to see where you've gone wrong again if you used the quote facility. |
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Post by sheepy on Dec 10, 2022 8:00:14 GMT
Labour were a large part of global recession as they tried to push globalism behind the scenes, Gordon Brown did deny it because he didn't see it coming, is what you should have learnt, but then I just saw a flying pig. Lol. You think the UK influences the global economy. Yes they do,the whole point of changing the economy to a services economy. Which Brown knew full well. |
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Post by zanygame on Dec 10, 2022 8:18:44 GMT
Lol. You think the UK influences the global economy. Yes they do,the whole point of changing the economy to a services economy. Which Brown knew full well. There's quite a difference between effecting and being the effect. But certainly British banks helped the crash. When New Labour banned self certificating mortgages in the UK many of our banks moved their lending to the U.S market with its almost invisible regulations. |
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