tag:blogger.com,1999:blog-6382255864661846735.post9062662639873778665..comments2024-02-24T08:45:36.112+00:00Comments on TheFatBigot Opines: Meanwhile, back at the recession ...TheFatBigothttp://www.blogger.com/profile/17255526385076528633noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-6382255864661846735.post-46060677122779341042009-06-12T20:15:12.326+01:002009-06-12T20:15:12.326+01:00Thank you, FB. Your blogology looks pretty good to...Thank you, FB. Your blogology looks pretty good to me - I only wonder that you have the time!J Bonington Jagworthhttps://www.blogger.com/profile/16276478597326413459noreply@blogger.comtag:blogger.com,1999:blog-6382255864661846735.post-18024921486850226832009-06-12T09:11:09.130+01:002009-06-12T09:11:09.130+01:00FB,
The UK did not plunnge into recession as a re...FB,<br /><br />The UK did not plunnge into recession as a result of imbalances.<br /><br />It went into a deep recession because of the US subprime debacle, and problems with its own banking sector,which become de facto insolvent.james cnoreply@blogger.comtag:blogger.com,1999:blog-6382255864661846735.post-31327149104280872982009-06-12T03:48:03.935+01:002009-06-12T03:48:03.935+01:00Well yes, Mr Wadsworth, except that I was addressi...Well yes, Mr Wadsworth, except that I was addressing what is likely to happen rather than what I believe should happen. <br /><br />Thank you for your contribution, Mr Jagworth, and for your recent comments on other threads. Welcome to my little exercise in blogology. <br /><br />Like many politicians poor Gordon grossly overestimates the amount of control governments really have over events. They can take certain actions and mess things up but I am far from convinced that they can do much of benefit other than create a sound framework and then hope for the best.TheFatBigothttps://www.blogger.com/profile/17255526385076528633noreply@blogger.comtag:blogger.com,1999:blog-6382255864661846735.post-84142526555487818802009-06-11T09:22:17.197+01:002009-06-11T09:22:17.197+01:00Gordon is still clinging to the belief* that he an...Gordon is still clinging to the belief* that he and HMG have any control. Of course, he was happy to take the credit then the economy was doing well, but even that was only by sowing the seeds of later destruction (e.g. deregulation of those who least needed it). That means that he is at least partly responsible for the collapse, but he can't have it both ways - it he washes his hands of the recession (because other people are experiencing it, too) then he can't very well claim to be in a position to rectify it!<br /><br />*Presbyterian he may be, but I don't think he believes anything of the sort. Blair didn't leave to honour any agreement with Gordon - he left because he knew what was coming!J Bonington Jagworthhttps://www.blogger.com/profile/16276478597326413459noreply@blogger.comtag:blogger.com,1999:blog-6382255864661846735.post-44511090852347489792009-06-11T07:39:09.438+01:002009-06-11T07:39:09.438+01:00Agreed. "If in doubt. do nothing" is the...Agreed. "If in doubt. do nothing" is the best policy.<br /><br />Except taxes don't <i>have to</i> rise - the government is spending and wasting far too much, is all.Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.com