Credit crunch hits (its US) home

IF GB and Labour are responsible for the credit crunch, are we also responsible for the Lehman crisis?

How long, do you think, before someone in the Tory Party/press blames the government for this?

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10 Comments

Filed under Conservative Party, Economy, Gordon Brown, Media, Politics, United States

10 responses to “Credit crunch hits (its US) home

  1. Sacha

    Probably about as long as it takes Gordon Brown to admit that his dithering over Northern Rock and excessive spending in the boom years are now vastly amplifying the negative effects of the global downturn on the UK

  2. Johnny Norfolk

    We have more troubles of our own thanks to Labour. We do not need to look at the U.S.

    We are now paying the price for 11 years of Labour taxing and spending. What have Labour contributed in improving our competitivness and good management of the economy. You know Labour blame either The Tories, Big Buisness, The multi nationals. Other countries, etc, etc.but never themselves. They are unable to be self critical in anything they do. The think they are always right and totaly believe their own propaganda.

    So Tom you have created enough problems without digging any deeper.

  3. richard

    I don’t think anyone is blaming Labour for the recent global downturn but I do blame Labour for squandering mind-boggling amounts of tax revenue that could have been stored up in anticipation of the inevitable bust that Gorodn and Tony thought was never going to come.

    I heard one of your ministerial colleagues on the radio the other day suggesting that a new Conservative government would make radical cuts to public sector spending to pay for tax cuts and all I could think was “Thank God someone’s finally going to…”.

  4. Just because you are paranoid Tom it doesn’t mean they aren’t after you!

    Who said the so-called credit crunch was the fault of Gordon Brown and the Labour Party?

    The fact is that “the most successful Chancellor of the Exchequer for 250 years” said he had abolished “boom and bust” is now having to tell us that we are the victims of the “global economy” and he failed to prepare us for this fact. We have known this for at least 30 years and it perhaps suggests that he has failed to “lag” the attic and “fix the roof” after extracting the most money via taxes since Atilla the Hun.

    If in the unlikely event your lot ever manage to get back into government we can all look forward to rolling power cuts and permanent recession as the IMF run out of money trying to support “our fairer society”!

  5. Angelin

    Personally I’ve never heard anyone blame Labour for the Credit Crunch. As far as I am aware that one’s down to the banks. Whether or not more legislation to tighten control would have made any difference is debatable.
    However, GB, on several ocassions claimed he had eliminated the cycle of boom and bust. Bad Move.
    The decline has been with us now for nearly a year. GB’s philosophy is clearly ‘I don’t know what the hell to do, so I’ll do nothing’. Bad Move
    As with most people I know, we have had to make cutbacks in our household budgets. GB keeps spending (on the never,never). Bad Move.
    GB now seems content to let the women take the initiative. Bad Move.
    It has become apparent that GB is not a natural leader and therefore needs replacing. Good Move!

  6. Johnny Norfolk

    I would read John Redwoods piece on this if you want some facts. He notes that Labour have not even produced a forecast on what is going on.

  7. Quentinthecrisp

    The line on the chart you display could equally represent most other companies fortunes.
    When it comes to my property value, the secondhand value of my car, the worth of the pound in my pocket and the worth of my personal pension that graph line glides sharply down.
    But I would guess no where near as sharply as the one for Labour’s popularity.

  8. Madasafish

    I will not blame Labour for Lehman’s demise.

    When HBOS goes, however, it may be a different thing. Markets seem to expect the worst: shares down 30% today.

    Note the “when”.

  9. Will S

    As people above have already said, nobody claims that the credit crunch is Labour’s fault. What people criticise Labour for is failing to prepare for the credit crunch or any similar financial crisis.

  10. andy

    New labour stealth taxes,almost 3 million on the sick,unemployment rising,crime figures distorted,mass immigration,pensions destroyed,trying to ditch our pound,Iraq,cash for honours,sleaze,spin or lies,10p tax on the poor,taxing the rich till the pip squeeks,billions spent and most wasted,MRS,police pay(cant afford to pay e’m)ex stalin lovers,commis,big brother,arresting polictical opponants,first banking collapse,N rock,recession,no boom and bust,worst affected country after america,high debt,spend spend spend,broken britain,knife crime,gun crime,sink estates,tuition fees,education half cant read,brown is not right in the head or is it just me who thinks this.

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