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This was always an ideological attack on the state and the young are going to have to pay.
Tags: youth unemployment
Blaming Gordon Brown is still a favourite of the Right.
A few weeks ago, the G7 finance minister met in France, talked about the current crisis, and decided not to do anything.
The words, Nero, Rome and Burning springs to mind.
Here's 25 People to Blame for the Financial Crisis according to Time magazine:
You are absolutely right.
Gordon Brown's role after the collapse was first class. It was GB that managed to get the world to sing from the same hymn sheet - to act decisively and as one. He won praise from around the world.
What has Cameron done to fix the crisis? All he is doing is encouraging the world to repeat the mistakes made in the Thirties.
writeon: "war on unemployment as the first priority" ... Stopping all immigration would help the long term unemployed, but is that a bit to radical for you 'writeon'? Getting-off the backs of Industry would also help our unemployed. Cutting tax.. particularly the tax on jobs would help reduce unemployment. "reduce military expenditure by 90%".. Why not just sell the country to the highest bidder. 'writeon' You live-in a simplistic naive world. Be i do love the bit about 'nationalism' Is that just English nationalism or all nationalism? But i do agree with you about "The banking system should be nationalised" banks should work for industry not the other way-around.
I think many would argue the crisis started by 2007, see the BBC link I posted, are you arguing against that?
"The massive house boom began way before 1997. Try 1981 as the start with the RTB; and then in 1986 with financial deregulation. "
It certainly took off post 1997, look at the house price stats. Look at house prices in 1997 compared to 2007. Why wasn't the boom checked? It went on for years and years, right up to 2007. There was a Buy to Let explosion too.
"Gordon Brown's role after the collapse was first class."
What about pre-collapse? If ordinary people could see it on financial forums back in the early 2000's what were those in power doing?
I'll ask you again, what are your thoughts on the house price boom under New Labour and the effect it had on the low / medium paid?
It's such a simple question, why don't you answer it?
Chill Colin, theres no issue with Matt. He wouldnt bully a flea - its not what he's interested in, he's just into defending Labour. It winds him up to attack Labour. He gives and takes in equal measure.
Have you noticed Foxy's been a bit deflated recently, probably because he keeps loosing his arguments and he knows Labour is busted flush.
BTW you are easy to find on linkedin. Pretty unique on this site.
Why is the crisis not over if the post credit crunch response was so brilliant?
Another great article. All your predictions are being bourned out as always.
Like all right wingers, what they practice is not what they preach. For someone who is so committed to Jobs for the Brits and reducing immigration, Dodgy Dave has;
1. Appointed an American to inform his urban policing and to preach to our police forces, when we have so many skilled officers in the UK.
2. Dave recently awarded a Danish company, Bystrup the contract to the next generation of wind turbines, creating jobs for the Danes at the expense of British jobs.
3. Dave was barely in the job when he awarded the manufacrure of Army Tanks contract to the US company, General Dynamics, again creating jobs for the US at the expense of our jobs.
3. He employed a migrant with a work permit, not permanenet residency or ILR(I have no problems with migrants with work permits working here but Dave preaches one thing and does another), to look after his children, when there are lots of Brits who would happily take on the job.
Etc, etc, etc.
Manufacturing was dessimated under Thatcher in the 1980's. FACT.
The financial crisis had its seed sown when Thatcher tore down the the then existing Bank regulation, a key Tory ideology. We have recently started to hear this mantra from the Tories again.
This action was followed by Clinton who abolished the Glass Steagall Act, 1933. This action, more than anything encourage predatory lending to the poor mainly by Fannie Mae and Freddie Mac (US Banks), followed by unchecked casino banking.
Yes Gordon Brown set up the FSA to boost regulation and restore some of the de-regulation by Thatcher but did not repatriate all regulations, thereby, weakening the powers of the FSA.
Lehman Brothers collasped, taking the world economy to the brink of collaspe and like Thatcher in the 80's, Bush did not understand Economics and was busy chasing after oil.
Brown rallied world leaders and together they helped save the world economy from a depression.
Unfortunately, UK elections came about just as Brown's policies were bringing about economic recovery. Dumb and Dumber created a coalition and the Tory ideology of lets use the recession to make sure the middle class and the poor pay for it kicked in.
Please do not waste your precious time debating with people (the 1%) who based their ideology on illusions and denial of the facts. Post your comments and hope that it will contribute towards finding a solution to the dire economic situation we are in.
Dumb and Dumber's only answer to the economic crisis is dont blame us, blame someone else not us; blame Europe, blame Gordon Brown, anyone but not us. Oh no, how dare you ask us to find the solutions we were elected to make sure our rich friends get richer before the public wise up to us and kick us out.
Enjoy the next three years because we WILL kick you out because we are the 99% and we are coming for you.
"Gordon Brown's role after the collapse was first class. "
OMG a zombie. Run everybody before he tries sucking your brains out.
BTW here's Gordon's little helper who contributed in a big way to the UK's biggest ever peace time structural deficit.
Nice guy. Your hero.
Foxy, engage both halves of brain to avoid seeing only one half of story:
"Blaming Gordon Brown is still a favourite of the Right." ... and the left (but dont take my word for it, listen to Alistair)
BTW have you got over conceding the argument that the Labour elite were responsible for shutting down Ford Dagenham Fiesta because it was a grubby maker? Imagine if only they had not been so stupid what a jewel Ford, an american company on our side, would be to us. Oh well, hope it was worth it to Gordon and Balls up.
Anyone who is deluded enough to think that this unemployment is caused by the Coalition government (abolishing EMA, lol) rather than global factors needs to see the following three statistics:
EU unemployment : 10%
US unemployment : 9.1%
UK unemployment : 8.1%
Let's use the Nationwide house price stats you referred to previously. Prices were going through a much need correction in 2008, but from Q1 2009 to Q2 2010 as the rate cuts began to have an effect there was a turnaround in house prices from 149k to 168k. A not inconsiderable rise during a financial crisis.
They have dipped slightly from 168k to around 166k since, but are still clearly being propped up by low rates and the whole bailout and stimulus. It's hard to believe anyone could seriously argue the opposite.
Tell us what you think would happen to house prices with a neutral level of interest rates, a reversal of QE and if the bank bailouts hadn't happened?
David Blanchflower is economics editor of the New Statesman and professor of economics at Dartmouth College, New Hampshire