Re: Don't bother saving for your retirement : Wed Nov 13, 2013 1:56 pm  

Dally wrote:

It's just a load of nonsense. He talks about not spending public money but then talks about HS2 (a complete white elephant that will just enhance London's dominance in the UK economy). They've also committed ridiculous sums of UK tax payers money to the French and Chinese governments over Hinkley Point. As to interest rates, the Governor on the BoE said they'd rise when employment improved. Well Cameron is today excitedly wittering about the huge rise in employment, so maybe interest rates will go up sooner than he thinks?

Talk about double-speak. The guy is a total nice person.

Don't forget £200 of Primark vouchers if you breast feed your child

Re: Don't bother saving for your retirement : Wed Nov 13, 2013 3:45 pm  

Mintball wrote: And wearing swanky evening get up and having had what was presumably a slap-up dinner. Yes, I'd seen that but decided not to go for what seemed a rather obvious target. In fairness, the Conservatives themselves are cutting quite a lot at the moment....

Mintball wrote: And wearing swanky evening get up and having had what was presumably a slap-up dinner. Yes, I'd seen that but decided not to go for what seemed a rather obvious target. In fairness, the Conservatives themselves are cutting quite a lot at the moment....

Re: Don't bother saving for your retirement : Wed Nov 13, 2013 3:54 pm  

bramleyrhino wrote: In fairness, the Conservatives themselves are cutting quite a lot at the moment.... Oh dear, oh dear. Thanks for that: bookmarked.

bramleyrhino wrote: In fairness, the Conservatives themselves are cutting quite a lot at the moment.... Oh dear, oh dear. Thanks for that: bookmarked.

Re: Don't bother saving for your retirement : Wed Nov 13, 2013 8:06 pm  

Mintball wrote:

Oh dear, oh dear.

Thanks for that: bookmarked.

This goes into a little more detail on Gidiot's speech:

Re: Don't bother saving for your retirement : Wed Nov 13, 2013 9:08 pm  

cod'ead wrote:

This goes into a little more detail on Gidiot's speech:

Look at the date on that article - September 3rd 2007 - note the phrase "writing in todays Times..."

George Osborne wrote that article, pledging to increase spending on public services on the presumption that the economy was "growing faster than public spending" just ELEVEN DAYS before Northern Rock sought liquidity support from the Bank of England.

If ANYONE is still in any doubt that the country is led by idiots, chancers and con artists then this should finally put those doubts to rest - Osborne is not alone in this however, NONE of our politicians saw what was coming on September 14th of that year and even as the board of Northern Rock were turning their pockets out and tearing the back off the settees for one final search for a bit more cash, our great leaders were contentedly making plans, nay, trying to outbid each other with their plans, for extravagant public spending on the strength of this great economy that they'd helped to build with their policies.

Re: Don't bother saving for your retirement : Wed Nov 13, 2013 9:28 pm  

JerryChicken wrote: Look at the date on that article - September 3rd 2007 - note the phrase "writing in todays Times..." George Osborne wrote that article, pledging to increase spending on public services on the presumption that the economy was "growing faster than public spending" just ELEVEN DAYS before Northern Rock sought liquidity support from the Bank of England. If ANYONE is still in any doubt that the country is led by idiots, chancers and con artists then this should finally put those doubts to rest - Osborne is not alone in this however, NONE of our politicians saw what was coming on September 14th of that year and even as the board of Northern Rock were turning their pockets out and tearing the back off the settees for one final search for a bit more cash, our great leaders were contentedly making plans, nay, trying to outbid each other with their plans, for extravagant public spending on the strength of this great economy that they'd helped to build with their policies. This bloke did see what was coming – an economist, he was out by about one quarter on saying when the crash would come.

JerryChicken wrote: Look at the date on that article - September 3rd 2007 - note the phrase "writing in todays Times..." George Osborne wrote that article, pledging to increase spending on public services on the presumption that the economy was "growing faster than public spending" just ELEVEN DAYS before Northern Rock sought liquidity support from the Bank of England. If ANYONE is still in any doubt that the country is led by idiots, chancers and con artists then this should finally put those doubts to rest - Osborne is not alone in this however, NONE of our politicians saw what was coming on September 14th of that year and even as the board of Northern Rock were turning their pockets out and tearing the back off the settees for one final search for a bit more cash, our great leaders were contentedly making plans, nay, trying to outbid each other with their plans, for extravagant public spending on the strength of this great economy that they'd helped to build with their policies. This bloke did see what was coming – an economist, he was out by about one quarter on saying when the crash would come.

Re: Don't bother saving for your retirement : Thu Nov 14, 2013 6:54 am  

Mintball wrote: This bloke did see what was coming – an economist, he was out by about one quarter on saying when the crash would come. Lucky guess (like the "financial advisers" who predict interest rate rises every quarter), or just sidelined for convenience ?

Mintball wrote: This bloke did see what was coming – an economist, he was out by about one quarter on saying when the crash would come. Lucky guess (like the "financial advisers" who predict interest rate rises every quarter), or just sidelined for convenience ?

Re: Don't bother saving for your retirement : Thu Nov 14, 2013 10:00 am  

JerryChicken wrote:

Lucky guess (like the "financial advisers" who predict interest rate rises every quarter), or just sidelined for convenience ?

He'd been warning about the bubble/crash since around 2002, IIRC.

I heard him speak a couple of years ago. He's respected, but not 'in with the boys' so to speak, and one whose comments often lead to other economists, plus politicians, putting fingers in ears and going: 'lalalalalalalala' etc.

Re: Don't bother saving for your retirement : Thu Nov 14, 2013 10:33 am  

Mintball wrote:

He'd been warning about the bubble/crash since around 2002, IIRC.

I heard him speak a couple of years ago. He's respected, but not 'in with the boys' so to speak, and one whose comments often lead to other economists, plus politicians, putting fingers in ears and going: 'lalalalalalalala' etc.

So he was warning about a crash for five years before it happened ?

Let me start predicting here and now that there will be another financial crash just like the one in 2007/08 at some point in the future, I'll repeat this prediction four times a year until it becomes true.

Meantime, there will be another natural disaster like the typhoon in the Philippines, some time...

Re: Don't bother saving for your retirement : Thu Nov 14, 2013 11:27 am  

JerryChicken wrote:

So he was warning about a crash for five years before it happened ?

Let me start predicting here and now that there will be another financial crash just like the one in 2007/08 at some point in the future, I'll repeat this prediction four times a year until it becomes true.

Meantime, there will be another natural disaster like the typhoon in the Philippines, some time...

It hardly takes a rocket scientist to see that there's another bubble/crash coming, since none of the conditions that caused the 2008 crash have particularly altered, but since most economists and politicians don't seem capable of seeing it or don't want to see it, a sane voice is welcome.

After all, you would think, wouldn't you, that no government would actively contribute taxpayers' cash toward another housing bubble?