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Gordon Brown Fears Another Economic Meltdown


TIGHTCHOKE
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Well I never, the Leader who failed to see the massive event 10 years ago has told the Guardian that he fears another one is on its way!

A link to the Standards article; https://www.standard.co.uk/news/world/the-world-is-sleepwalking-into-another-financial-crisis-gordon-brown-warns-a3934531.html

It was his downfall in 2010, I wonder whether Tony Bliar will join in his warnings?

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28 minutes ago, TIGHTCHOKE said:

Well I never, the Leader who failed to see the massive event 10 years ago has told the Guardian that he fears another one is on its way!

A link to the Standards article; https://www.standard.co.uk/news/world/the-world-is-sleepwalking-into-another-financial-crisis-gordon-brown-warns-a3934531.html

It was his downfall in 2010, I wonder whether Tony Bliar will join in his warnings?

Not everyones cup of tea I know but, the Americans love him as he did help them with his advice.

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Not a particular fan of Gordon except for the fact that he designed the five economic tests to be met before we joined the EMU and adopted the Euro. We never met the tests and thereby frustrated Blairs rush to join the Euro. Brexit would probably have been impossible had we been in the Euro. Thank you Gordon.

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He knew there will be another one without a doubt. I've been saying for the last year and a half that we will see one of the biggest recessions of our time in the next few years. It should have happened along time ago however they just keep kicking the can down the road by creating more debt out of thin air. 

The warning signs have been there for ages.. high debt to GDP levels. More QE. Near low interest rates. Unstable stock market and property market not to mention the huge bubbles in them. And the Rediculous help to buy schemes to keep the property market above water.

When this hits it's going to be big. And this time we have no way to pay off the 2 trillion debt, and America has no way to pay their 21 trillion debt. This isn't just the UK, this will be global. Japan is already in the **** and buying it's own stocks and bonds with printed money and the Asian markets are slowly declining.  I sold my home 15 months ago as I saw this coming, I wouldn't want to be starting this crisis with a massive mortgage over my head and at a rediculous rate. Interest rates are rising to counter inflation and carrying costs of debt are increasing. It's happening as we speak and the usual culprits just blame Brexit and Trump. It's the failed monetary policy we have had over the last 50 years and this should have the end of it 2008.

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He is the last person to comment on this since he failed to heed those that warned him that it was imminent. He did act after the event but so what. 

This just maintains the fiction that the crisis is over. Certainly stock and gilts are recovered but this is due to QE. The “real” people’s economy (wages, interest rates and currencies) is still flat. When the money tap is turned off it will expose record debt and no room for manoeuvre left.

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Could this be the same Gordon Brown that was so fiscally astute that he managed to claim that the unbelievably stupid (and irreversible) tax credits system would only cost the taxpayer a billion or so and which is now costing well over 30 times that amount and continually increasing?

Any business person could have told him the system was ripe for exploitation by both employees and employers. A large slice of the profit figures for the big supermarkets is now thanks to Brown's tax credits subsidising their employment costs.

Well done Gordon for coming up with a hideously costly system which, on balance, benefits almost no one.

 

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Reminded me of this......

 

A story with a moral........


Gordon's Donkey


A young man named Gordon bought a donkey from an old farmer for £100.

The farmer agreed to deliver the donkey the next day, but when the farmer drove up he said,"Sorry son, but I have some bad news...   The donkey is on my truck, but unfortunately he's dead."   

Gordon replied, "Well then, just give me my money back."   

The farmer said, "I can't do that, because I've spent it already."  

Gordon said, "OK then, well just unload the donkey anyway."

The farmer asked, "What are you going to do with him?"  

Gordon answered, "I'm going to raffle him off."  

To which the farmer exclaimed, "Surely you can't raffle off a dead donkey!"  

But Gordon, with a wicked smile on his face said, "Of course I can, you watch me. 

I just won't bother to tell anybody that he's dead."

A month later the farmer met up with Gordon and asked, "What happened with that dead donkey?"  

Gordon said, "I raffled him off, sold 500 tickets at two pounds a piece, and made a huge, fat profit!!"  

Totally amazed, the farmer asked, "Didn't anyone complain that you had stolen their money because you lied about the donkey being dead?"  

To which Gordon replied, "The only guy who found out about the donkey being dead was the raffle winner when he came to claim his prize. 

I gave him his £2 raffle ticket money back plus an extra £200, which as you know is double the going rate for a donkey, so he thought I was a great guy!!"

Gordon grew up and eventually became the Chancellor of the Exchequer, and no matter how many times he lied, or how much money he stole from the British voters, as long as he gave them back some of the stolen money, most of them, unfortunately, still thought he was a great guy.

The  moral of this story is that, if you think Gordon is about to play fair and do something for the people of the country for once in his miserable life, think again my friend, because you'll be better off flogging a dead donkey!

 

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Above is excellent.

I cannot think of anyone more responsible for the economic woes of the country, he held the purse strings longer than any one and neglected to tell people how it was.

The man is as close to being a criminal as you could get without getting done possible because of his boss Teflon tony.

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And the latest betrayal, Mark Carney has just announced house prices could fall by a third in the event of a hard brexit, he knows full well, making an announcement like that is very likely to hit the housing market, he can then say I told you so, it's what I'd call a self fullfiling prophecy. Are there no depths he will sink to!

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19 minutes ago, 12gauge82 said:

And the latest betrayal, Mark Carney has just announced house prices could fall by a third in the event of a hard brexit, he knows full well, making an announcement like that is very likely to hit the housing market, he can then say I told you so, it's what I'd call a self fullfiling prophecy. Are there no depths he will sink to!

He has absolutely no right to say anything, even if its true its not his job to say it. He should be impartial and totally non political. Lets face it his last predictions were rubbish so not much credibility there.

House prices have been wobbling all year, they are due a wobble. Its roughly a seven year cycle of boom and bust, nothing at all to do with Brexit;

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6 minutes ago, Vince Green said:

He has absolutely no right to say anything, even if its true its not his job to say it. He should be impartial and totally non political. Lets face it his last predictions were rubbish so not much credibility there.

House prices have been wobbling all year, they are due a wobble. Its roughly a seven year cycle of boom and bust, nothing at all to do with Brexit;

Absolutely agree, he's a disgrace and his actions leading up to the referendum and now are tantamount to treason, I believe he is purposely trying to damage the economy. 

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Just now, blackbird said:

He has quoted if we do not get a deal on brexit house prices will crash by 35%, mortgage rates & interest rates will spiral upwards & most families will end up in negative equity. Looks like we are in for a hell of a ride.

He has to stand up to be heard as he talks out of his ****!

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