Warrington GuardianNew Labour created crisis (From Warrington Guardian)

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New Labour created crisis

Warrington Guardian: New Labour created crisis New Labour created crisis

IN response to Mr Withers’ opinion ‘Rich look on as poor suffer’ Guardian, April 10, his views from an economic prospective are fundamently flawed as he seems to be holding the coalition Government from 2010 to account for the economic inbalance between the rich and the poor.

From 1997 to 2007,the New Labour Government as a business model was destined to implode from an economic perspective due to the inbalance between the rich and the poor. By the 2010 election, New Labour’s accounts showed that for every £4 of Government expenditure there was £1 of taxation.Where they did pay, the rich only paid 40 per cent tax and some of the predatory companies avoided it.

The bankers got rich with worthless financial products such as PPI, loan to value mortgages, 125 per cent mortgages which they in turn sold to speculators on the markets. The fundamental economic flaw here is it’s a one way bet that property values will inflate and not devalue. So the bankers, speculators, landlords of properties were all getting rich.

Meanwhile those at the other end of the spectrum were trapped on welfare, where in some cases work didn’t pay compared to welfare benefits. This created a gap in the employment market place for migrant workers to fill low paid roles. Coupled with the working families tax credits and Gordon Brown’s scrapping of the 10p tax rate for low income earners,the cost of living crisis was a creation of New Labour.

This, along with some academy establishments and NHS hospitals being tendered out to the private sector with huge interest payments attached, along with bailing out the banks with billions in taxpayer cash ultimately left whichever Government came to power with two choices, austerity and public sector cuts or more borrowing, higher inflation, high taxation, low investment, high unemployment equals more borrowing as it’s unstainable.

TONY FOX Stockton Heath

Comments (25)

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12:05pm Fri 25 Apr 14

grey_man says...

And guess what Tony. The Tories would have done exactly the same thing to the economy. You might disagree, but then you'd have to show me just when they were pressing for more regulation of banks.
And guess what Tony. The Tories would have done exactly the same thing to the economy. You might disagree, but then you'd have to show me just when they were pressing for more regulation of banks. grey_man
  • Score: -3

4:32pm Sun 27 Apr 14

PageA says...

grey_man wrote:
And guess what Tony. The Tories would have done exactly the same thing to the economy. You might disagree, but then you'd have to show me just when they were pressing for more regulation of banks.
I disagree. You have no way of knowing what the difference might have been if another political party was in power. What we do know is that the people who were in a position do do something.. didn't
[quote][p][bold]grey_man[/bold] wrote: And guess what Tony. The Tories would have done exactly the same thing to the economy. You might disagree, but then you'd have to show me just when they were pressing for more regulation of banks.[/p][/quote]I disagree. You have no way of knowing what the difference might have been if another political party was in power. What we do know is that the people who were in a position do do something.. didn't PageA
  • Score: 2

8:12pm Mon 28 Apr 14

Karlar says...

They're all the bxxxxx same, whatever the colour of their rosettes. PFI, the millstone round our children's and grand children's necks was introduced by the Tories when John Major was doing his thing. At the time Labour when in opposition was vehemently against the policy. When Labour came to power they gleefully adopted it and one prudent G Brown decided to figure it off balance sheet - like Enron - to keep the figure fiddling from messing up his budget sleight of hand. Subsequently when Osborne took over the budget at first he disowned the process, but has since gone back on his word. None of them can be trusted with Bankers' Bonuses or reaching Tax accommodations with companies and individuals who have for years taken HMRC for a ride. In fact they can't be trusted with anything, but they are all we are allowed to vote for.
They're all the bxxxxx same, whatever the colour of their rosettes. PFI, the millstone round our children's and grand children's necks was introduced by the Tories when John Major was doing his thing. At the time Labour when in opposition was vehemently against the policy. When Labour came to power they gleefully adopted it and one prudent G Brown decided to figure it off balance sheet - like Enron - to keep the figure fiddling from messing up his budget sleight of hand. Subsequently when Osborne took over the budget at first he disowned the process, but has since gone back on his word. None of them can be trusted with Bankers' Bonuses or reaching Tax accommodations with companies and individuals who have for years taken HMRC for a ride. In fact they can't be trusted with anything, but they are all we are allowed to vote for. Karlar
  • Score: 0

9:24am Tue 29 Apr 14

grey_man says...

PageA wrote:
grey_man wrote:
And guess what Tony. The Tories would have done exactly the same thing to the economy. You might disagree, but then you'd have to show me just when they were pressing for more regulation of banks.
I disagree. You have no way of knowing what the difference might have been if another political party was in power. What we do know is that the people who were in a position do do something.. didn't
I do because all parties had been committed to the ongoing deregulation of the financial services sector going back to the 1980s. That was the major factor that caused the global economic crash. So it would have happened regardless of who was in Number Ten. And what's more, they'll let it happen again. All of them.
[quote][p][bold]PageA[/bold] wrote: [quote][p][bold]grey_man[/bold] wrote: And guess what Tony. The Tories would have done exactly the same thing to the economy. You might disagree, but then you'd have to show me just when they were pressing for more regulation of banks.[/p][/quote]I disagree. You have no way of knowing what the difference might have been if another political party was in power. What we do know is that the people who were in a position do do something.. didn't[/p][/quote]I do because all parties had been committed to the ongoing deregulation of the financial services sector going back to the 1980s. That was the major factor that caused the global economic crash. So it would have happened regardless of who was in Number Ten. And what's more, they'll let it happen again. All of them. grey_man
  • Score: 0

1:18pm Tue 29 Apr 14

Karlar says...

grey_man wrote:
PageA wrote:
grey_man wrote:
And guess what Tony. The Tories would have done exactly the same thing to the economy. You might disagree, but then you'd have to show me just when they were pressing for more regulation of banks.
I disagree. You have no way of knowing what the difference might have been if another political party was in power. What we do know is that the people who were in a position do do something.. didn't
I do because all parties had been committed to the ongoing deregulation of the financial services sector going back to the 1980s. That was the major factor that caused the global economic crash. So it would have happened regardless of who was in Number Ten. And what's more, they'll let it happen again. All of them.
And they will all to a man blame someone else.
[quote][p][bold]grey_man[/bold] wrote: [quote][p][bold]PageA[/bold] wrote: [quote][p][bold]grey_man[/bold] wrote: And guess what Tony. The Tories would have done exactly the same thing to the economy. You might disagree, but then you'd have to show me just when they were pressing for more regulation of banks.[/p][/quote]I disagree. You have no way of knowing what the difference might have been if another political party was in power. What we do know is that the people who were in a position do do something.. didn't[/p][/quote]I do because all parties had been committed to the ongoing deregulation of the financial services sector going back to the 1980s. That was the major factor that caused the global economic crash. So it would have happened regardless of who was in Number Ten. And what's more, they'll let it happen again. All of them.[/p][/quote]And they will all to a man blame someone else. Karlar
  • Score: 1

7:03pm Tue 29 Apr 14

PageA says...

grey_man wrote:
PageA wrote:
grey_man wrote:
And guess what Tony. The Tories would have done exactly the same thing to the economy. You might disagree, but then you'd have to show me just when they were pressing for more regulation of banks.
I disagree. You have no way of knowing what the difference might have been if another political party was in power. What we do know is that the people who were in a position do do something.. didn't
I do because all parties had been committed to the ongoing deregulation of the financial services sector going back to the 1980s. That was the major factor that caused the global economic crash. So it would have happened regardless of who was in Number Ten. And what's more, they'll let it happen again. All of them.
You say you do..but you don't. Unless you're doctor who..you dont know what would have happened should things have been different. You can assume...but you dont know. Just as if a bird flaps it's wings in Africa it will cause an apple to fall..or if a butterfly flaps its wings in Japan it will cause...anyway. You dont have a crystal ball so you dont know what would have happened..or how circumstances would have changed following a comment or meeting or news item ...We both know what did happen and whose hand was on the tiller when it did happen
[quote][p][bold]grey_man[/bold] wrote: [quote][p][bold]PageA[/bold] wrote: [quote][p][bold]grey_man[/bold] wrote: And guess what Tony. The Tories would have done exactly the same thing to the economy. You might disagree, but then you'd have to show me just when they were pressing for more regulation of banks.[/p][/quote]I disagree. You have no way of knowing what the difference might have been if another political party was in power. What we do know is that the people who were in a position do do something.. didn't[/p][/quote]I do because all parties had been committed to the ongoing deregulation of the financial services sector going back to the 1980s. That was the major factor that caused the global economic crash. So it would have happened regardless of who was in Number Ten. And what's more, they'll let it happen again. All of them.[/p][/quote]You say you do..but you don't. Unless you're doctor who..you dont know what would have happened should things have been different. You can assume...but you dont know. Just as if a bird flaps it's wings in Africa it will cause an apple to fall..or if a butterfly flaps its wings in Japan it will cause...anyway. You dont have a crystal ball so you dont know what would have happened..or how circumstances would have changed following a comment or meeting or news item ...We both know what did happen and whose hand was on the tiller when it did happen PageA
  • Score: 3

11:04pm Tue 29 Apr 14

grey_man says...

We know exactly what would have happened. We know because nobody in government wanted to properly regulate the banks, the major cause of the crash. We also know that successive governments of all colours had been actively deregulating them. So the onus is on you to prove that the Tories would have averted the crisis by not only increasing regulation in the UK but campaigning for greater regulation overseas too. Feel free to try.
We know exactly what would have happened. We know because nobody in government wanted to properly regulate the banks, the major cause of the crash. We also know that successive governments of all colours had been actively deregulating them. So the onus is on you to prove that the Tories would have averted the crisis by not only increasing regulation in the UK but campaigning for greater regulation overseas too. Feel free to try. grey_man
  • Score: 0

8:10am Wed 30 Apr 14

PageA says...

grey_man wrote:
We know exactly what would have happened. We know because nobody in government wanted to properly regulate the banks, the major cause of the crash. We also know that successive governments of all colours had been actively deregulating them. So the onus is on you to prove that the Tories would have averted the crisis by not only increasing regulation in the UK but campaigning for greater regulation overseas too. Feel free to try.
No, you don't know what would have happened. You are making a judgment based upon your exposure to what you consider to be the facts. There's a gentleman involved in a different discussion who won't vote Tory because they didn't keep their promise..they didn't do what they said they were going to do..they changed course. And he says he doesn't trust what they say now because everything can change after the election. You are saying the opposite, that somehow things are fixed. Let's imagine that you and I play for the same football team. I am fantastic at taking penalties and you are rubbish. After I kick the penalty that was going to see us through to the cup final miles over the crossbar I turn to you and say "what are you looking at, you would have done exactly the same or worse" maybe you would..or maybe you wouldn't. What we do know though..is that I did. There is no onus on me to prove that your alternative reality is the truth. That's a bit of an odd thing to say
[quote][p][bold]grey_man[/bold] wrote: We know exactly what would have happened. We know because nobody in government wanted to properly regulate the banks, the major cause of the crash. We also know that successive governments of all colours had been actively deregulating them. So the onus is on you to prove that the Tories would have averted the crisis by not only increasing regulation in the UK but campaigning for greater regulation overseas too. Feel free to try.[/p][/quote]No, you don't know what would have happened. You are making a judgment based upon your exposure to what you consider to be the facts. There's a gentleman involved in a different discussion who won't vote Tory because they didn't keep their promise..they didn't do what they said they were going to do..they changed course. And he says he doesn't trust what they say now because everything can change after the election. You are saying the opposite, that somehow things are fixed. Let's imagine that you and I play for the same football team. I am fantastic at taking penalties and you are rubbish. After I kick the penalty that was going to see us through to the cup final miles over the crossbar I turn to you and say "what are you looking at, you would have done exactly the same or worse" maybe you would..or maybe you wouldn't. What we do know though..is that I did. There is no onus on me to prove that your alternative reality is the truth. That's a bit of an odd thing to say PageA
  • Score: 2

9:58am Wed 30 Apr 14

grey_man says...

No it's not. There was a global economic crisis caused by systems and ideologies that all political parties adhered to and pursued for a long time. Even if the Tories had decided to pursue a different path (which they didn't because they started it all), we'd have been screwed anyway because the problem was global and kick-started by a US regime that thought the same way. All you can possibly argue is that things may have been very, very marginally better under a different government.

Arguing none of it would have happened makes you look deluded. The alternative reality is yours.
No it's not. There was a global economic crisis caused by systems and ideologies that all political parties adhered to and pursued for a long time. Even if the Tories had decided to pursue a different path (which they didn't because they started it all), we'd have been screwed anyway because the problem was global and kick-started by a US regime that thought the same way. All you can possibly argue is that things may have been very, very marginally better under a different government. Arguing none of it would have happened makes you look deluded. The alternative reality is yours. grey_man
  • Score: 0

10:19am Wed 30 Apr 14

PageA says...

grey_man wrote:
No it's not. There was a global economic crisis caused by systems and ideologies that all political parties adhered to and pursued for a long time. Even if the Tories had decided to pursue a different path (which they didn't because they started it all), we'd have been screwed anyway because the problem was global and kick-started by a US regime that thought the same way. All you can possibly argue is that things may have been very, very marginally better under a different government.

Arguing none of it would have happened makes you look deluded. The alternative reality is yours.
All political parties adhered to? You mean the ones in power? How long were Labour in power before it all went t*ts up?How long had they been a player on the financial world stage before the bubble popped? How long after there had been 'an end to boom and bust' was there the biggest bust imaginable? Surely the opposition parties were concerned about winning an election..that's a different objective to effectively running a country. Maybe a different government..one whose leader didnt parade around the white house in new levis with George W might have had a different perspective on the American economy and might have expressed it clearly...We'll never know
[quote][p][bold]grey_man[/bold] wrote: No it's not. There was a global economic crisis caused by systems and ideologies that all political parties adhered to and pursued for a long time. Even if the Tories had decided to pursue a different path (which they didn't because they started it all), we'd have been screwed anyway because the problem was global and kick-started by a US regime that thought the same way. All you can possibly argue is that things may have been very, very marginally better under a different government. Arguing none of it would have happened makes you look deluded. The alternative reality is yours.[/p][/quote]All political parties adhered to? You mean the ones in power? How long were Labour in power before it all went t*ts up?How long had they been a player on the financial world stage before the bubble popped? How long after there had been 'an end to boom and bust' was there the biggest bust imaginable? Surely the opposition parties were concerned about winning an election..that's a different objective to effectively running a country. Maybe a different government..one whose leader didnt parade around the white house in new levis with George W might have had a different perspective on the American economy and might have expressed it clearly...We'll never know PageA
  • Score: 1

10:26am Wed 30 Apr 14

grey_man says...

We do know. I could keep repeating myself but I'm wasting my time seeing as you think the Tories might have decided to reverse their decades-long policies on bank deregulation, convinced the US to do the same, then gone to financial markets around the world and got them to follow suit. And, if that didn't work, would have thrown up a massive invisible economic protecto-shield over the UK so that nothing bad happened.
We do know. I could keep repeating myself but I'm wasting my time seeing as you think the Tories might have decided to reverse their decades-long policies on bank deregulation, convinced the US to do the same, then gone to financial markets around the world and got them to follow suit. And, if that didn't work, would have thrown up a massive invisible economic protecto-shield over the UK so that nothing bad happened. grey_man
  • Score: 0

10:47am Wed 30 Apr 14

PageA says...

grey_man wrote:
We do know. I could keep repeating myself but I'm wasting my time seeing as you think the Tories might have decided to reverse their decades-long policies on bank deregulation, convinced the US to do the same, then gone to financial markets around the world and got them to follow suit. And, if that didn't work, would have thrown up a massive invisible economic protecto-shield over the UK so that nothing bad happened.
Exactly! 'might' anything 'might' have happened. Maybe there..'might' have been a near miss which alerted everyone to the problem..maybe in an alternative universe we'd be talking about what 'nearly' happened. As it is all we know for certain is what 'did' happen and who ruled the country when it 'did' happen. Lets end it here, you obviously live in a world alongside Tom Cruise in the Minority Report where you can convict people for crimes you think they're about to commit. i can only comment on what has taken place not on the events that feature inside your head
[quote][p][bold]grey_man[/bold] wrote: We do know. I could keep repeating myself but I'm wasting my time seeing as you think the Tories might have decided to reverse their decades-long policies on bank deregulation, convinced the US to do the same, then gone to financial markets around the world and got them to follow suit. And, if that didn't work, would have thrown up a massive invisible economic protecto-shield over the UK so that nothing bad happened.[/p][/quote]Exactly! 'might' anything 'might' have happened. Maybe there..'might' have been a near miss which alerted everyone to the problem..maybe in an alternative universe we'd be talking about what 'nearly' happened. As it is all we know for certain is what 'did' happen and who ruled the country when it 'did' happen. Lets end it here, you obviously live in a world alongside Tom Cruise in the Minority Report where you can convict people for crimes you think they're about to commit. i can only comment on what has taken place not on the events that feature inside your head PageA
  • Score: 1

10:58am Wed 30 Apr 14

grey_man says...

LOL. Who's got the bigger imagination?

Me, because I believe that the global economic crisis and the fact the Conservatives were pursuing the same policies as Labour on the City would have meant that the crash would have happened in broadly the same way regardless of who was in office?

Or you? Because wibble.
LOL. Who's got the bigger imagination? Me, because I believe that the global economic crisis and the fact the Conservatives were pursuing the same policies as Labour on the City would have meant that the crash would have happened in broadly the same way regardless of who was in office? Or you? Because wibble. grey_man
  • Score: 0

11:03am Wed 30 Apr 14

PageA says...

grey_man wrote:
LOL. Who's got the bigger imagination?

Me, because I believe that the global economic crisis and the fact the Conservatives were pursuing the same policies as Labour on the City would have meant that the crash would have happened in broadly the same way regardless of who was in office?

Or you? Because wibble.
You're a brick wall. I've tried football analogies and everyfink...We cant predict the weather 100% grey_man but you can predict a whole new reality. Congratulations, you have fantastic skills
[quote][p][bold]grey_man[/bold] wrote: LOL. Who's got the bigger imagination? Me, because I believe that the global economic crisis and the fact the Conservatives were pursuing the same policies as Labour on the City would have meant that the crash would have happened in broadly the same way regardless of who was in office? Or you? Because wibble.[/p][/quote]You're a brick wall. I've tried football analogies and everyfink...We cant predict the weather 100% grey_man but you can predict a whole new reality. Congratulations, you have fantastic skills PageA
  • Score: -1

5:00pm Wed 30 Apr 14

grey_man says...

No. I'm pointing out the bleedin' obvious. Like I said, if you think the Tories could have averted the global economic crisis, strictly regulated the world's financial markets (and not just the City of London) and persuaded the US government to adopt a radically different set of fiscal and economic policies and backdated it all to the mid 1980s, then good for you.
No. I'm pointing out the bleedin' obvious. Like I said, if you think the Tories could have averted the global economic crisis, strictly regulated the world's financial markets (and not just the City of London) and persuaded the US government to adopt a radically different set of fiscal and economic policies and backdated it all to the mid 1980s, then good for you. grey_man
  • Score: 1

6:56pm Wed 30 Apr 14

exbankerwithknowledge says...

New Labour were absolutely to blame. I have been a staunch labour supporter all my life until that point! I would have voted for a donkey if it was wearing a labour red rosette-any other vote would have been unthinkable.
I'm afraid until you have been party to the discussions at the levels I have (board level at various banks, and whitehall) and have the knowledge of what stunts they all played (inc cabinet ministers) and what absolutely despicable decisions Labour made with YOUR money and continued to do for a very long time I don't think you can possibly comment.
We as a country have to tread so carefully with the banks, they are ALL that is sustaining the world (I exaggerate not-think of all the powerful banking dynasties - I don't mean the average high street banks), ANY colour of government can not let them fail.... If the banks fail - believe me, your way of life will die too. We were not too long ago (because I was asked to risk assess it!) hours from cash machines being blocked, credit cards being frozen, automated transactions frozen, banks accounts frozen - banks closed. My advice don't criticise the bankers, blame the government at the time for encouraging their behaviour and.
New Labour were absolutely to blame. I have been a staunch labour supporter all my life until that point! I would have voted for a donkey if it was wearing a labour red rosette-any other vote would have been unthinkable. I'm afraid until you have been party to the discussions at the levels I have (board level at various banks, and whitehall) and have the knowledge of what stunts they all played (inc cabinet ministers) and what absolutely despicable decisions Labour made with YOUR money and continued to do for a very long time I don't think you can possibly comment. We as a country have to tread so carefully with the banks, they are ALL that is sustaining the world (I exaggerate not-think of all the powerful banking dynasties - I don't mean the average high street banks), ANY colour of government can not let them fail.... If the banks fail - believe me, your way of life will die too. We were not too long ago (because I was asked to risk assess it!) hours from cash machines being blocked, credit cards being frozen, automated transactions frozen, banks accounts frozen - banks closed. My advice don't criticise the bankers, blame the government at the time for encouraging their behaviour and. exbankerwithknowledge
  • Score: 2

10:24pm Wed 30 Apr 14

grey_man says...

And the previous governments obviously. A plague on all their houses
And the previous governments obviously. A plague on all their houses grey_man
  • Score: 0

11:10pm Thu 1 May 14

PageA says...

grey_man wrote:
And the previous governments obviously. A plague on all their houses
Dean Baker
Wynne Godley
Fred Harrison (UK)
Michael Hudson
Eric Janszen
Steve Keen (Australia)
Jakob Madsen & Jens Kjaer Sørensen (Denmark)
Kurt Richebächer
Nouriel Roubini
Peter Schiff
Robert Shiller
[quote][p][bold]grey_man[/bold] wrote: And the previous governments obviously. A plague on all their houses[/p][/quote]Dean Baker Wynne Godley Fred Harrison (UK) Michael Hudson Eric Janszen Steve Keen (Australia) Jakob Madsen & Jens Kjaer Sørensen (Denmark) Kurt Richebächer Nouriel Roubini Peter Schiff Robert Shiller PageA
  • Score: 0

11:12pm Thu 1 May 14

PageA says...

Bill Ackman (EPw, Fortune, Who’s Holding the Bag? (May 2007), and Confidence Game)
Sheila Bair (Chrostowski, Nocera - see also Wash Post article)
Dean Baker (Bezemer, EP, RA3) - Baker Survey
Richard Baker (Fortune 2008 & 2003)
Roy Barnes (Hirsh)
Susan Bies (Chrostowski - 2006 FOMC Transcripts)
Rick Bookstaber (Salon, A Demon of Our Own Design 2007)
Claudio Borio (Tett, Economist, Bezemer*)
Brooksley Born (Frontline, EPw, Chrostowski)
Jesse Colombo (FT, Keen, Irrera) - Colombo Survey
Vox Day (Hannity) - Day Survey
Richard Duncan (Plumberg and The Dollar Crisis 2003)
Marc Faber (BW)
Fred Foldvary (Crane, Gaffney) - Foldvary Survey
Robert Gnaizda (NYTimes - hat tip EPw, Gnaizda is also interviewed in Inside Job)
Wynne Godley (9/2/1926 – 5/13/2010) (Bezemer, RA9, NYT)
James Grant (BW)
Jeremy Grantham (BW, Ody, WSJ)
Jeffrey Gundlach (Barrons)
Fred Harrison (Bezemer, The Chaos Makers 1997, Boom Bust 2005) - Harrison Survey
Kenneth Heebner (WSJ - "significant decline in prices is coming"...but..."won
't by itself push the economy down")
Michael Hudson (Bezemer, RA8)
Eric Janszen (Bezemer, America's Bubble Economy 2006)
Med Jones (EP)
Steve Keen (Bezemer, EP, RA1) - Keen Survey
Mark Kiesel (Ody)
Paul Krugman (EP, RA7)
Sir Andrew Large (Hancock and Zahawi in Masters of Nothing - hat tip Steve Denning)
Nye Lavalle (Morgenson, Wikipedia) - Lavalle Survey
Jakob Madsen (Bezemer, EP, RA12) - Madsen Survey
Michael Panzner (BW, Financial Armageddon 2007)
Frank Partnoy (FT, NPR, FIASCO (1997), and Infectious Greed (2003))
Ron Paul (MinnPost, Rand Paul - "During congressional hearings in 2003, Ron Paul predicted the housing crisis and market crash")
Ann Pettifor (RA5, The Coming First World Debt Crisis 2006) - Pettifor Survey
Robert Prechter (EPw, BW, Conquer the Crash 2002)
Raghuram Rajan (Bezemer*, EPw)
Andrew Redleaf (NYT)
Kurt Richebächer (1918–August 24, 2007) (Bezemer, RA11)
Stephen Roach (BW)
Robert Rodriguez (& Tom Atteberry) (Ody, Fortune, WSJ, and The End of Wall Street) - Rodriguez Survey
David Rosenberg (BW)
Joshua Rosner (Coming Nightmare 2004, and Where Did the Risk Go? 2007)
Nouriel Roubini (Bezemer, EP, RA2, BW, Ody, Fortune)
John Rubino (How to Profit from the Coming Real Estate Bust 2003) - Rubino Survey
Peter Schiff (Bezemer, EP, BW, Ody, WSJ, Crash Proof 2007)
Robert Shiller (Bezemer, RA6, Ody, Irrational Exuberance 2, The One Who Saw It Coming)
Gary Shilling (BW)
Paul Singer (& Jim Chanos) (Bloomberg, Benner, and WSJ)
Jens Kjaer Sorensen (Bezemer - The Dynamics of House Prices - International Evidence - 2006)
George Soros (RA10)
Joseph Stiglitz (RA4, Hirsh)
John Talbott (Bezemer*, The Coming Crash in the Housing Market 2003, and Sell Now! 2006) - Talbott Survey
Nassim Taleb (EPw, BW, Triana, The Black Swan (4/17/2007))
Christopher Thornberg (LAT) - Thornberg Survey
David Tice (Ody)
Claus Vogt (Das Greenspan-Dossier in German)
William White (Tett, and Early Prediction of Worldwide Banking Crisis Ignored (7/8/2009))
Meredith Whitney (BW, Ody, The Big Short)
Bill Ackman (EPw, Fortune, Who’s Holding the Bag? (May 2007), and Confidence Game) Sheila Bair (Chrostowski, Nocera - see also Wash Post article) Dean Baker (Bezemer, EP, RA3) - Baker Survey Richard Baker (Fortune 2008 & 2003) Roy Barnes (Hirsh) Susan Bies (Chrostowski - 2006 FOMC Transcripts) Rick Bookstaber (Salon, A Demon of Our Own Design 2007) Claudio Borio (Tett, Economist, Bezemer*) Brooksley Born (Frontline, EPw, Chrostowski) Jesse Colombo (FT, Keen, Irrera) - Colombo Survey Vox Day (Hannity) - Day Survey Richard Duncan (Plumberg and The Dollar Crisis 2003) Marc Faber (BW) Fred Foldvary (Crane, Gaffney) - Foldvary Survey Robert Gnaizda (NYTimes - hat tip EPw, Gnaizda is also interviewed in Inside Job) Wynne Godley (9/2/1926 – 5/13/2010) (Bezemer, RA9, NYT) James Grant (BW) Jeremy Grantham (BW, Ody, WSJ) Jeffrey Gundlach (Barrons) Fred Harrison (Bezemer, The Chaos Makers 1997, Boom Bust 2005) - Harrison Survey Kenneth Heebner (WSJ - "significant decline in prices is coming"...but..."won 't by itself push the economy down") Michael Hudson (Bezemer, RA8) Eric Janszen (Bezemer, America's Bubble Economy 2006) Med Jones (EP) Steve Keen (Bezemer, EP, RA1) - Keen Survey Mark Kiesel (Ody) Paul Krugman (EP, RA7) Sir Andrew Large (Hancock and Zahawi in Masters of Nothing - hat tip Steve Denning) Nye Lavalle (Morgenson, Wikipedia) - Lavalle Survey Jakob Madsen (Bezemer, EP, RA12) - Madsen Survey Michael Panzner (BW, Financial Armageddon 2007) Frank Partnoy (FT, NPR, FIASCO (1997), and Infectious Greed (2003)) Ron Paul (MinnPost, Rand Paul - "During congressional hearings in 2003, Ron Paul predicted the housing crisis and market crash") Ann Pettifor (RA5, The Coming First World Debt Crisis 2006) - Pettifor Survey Robert Prechter (EPw, BW, Conquer the Crash 2002) Raghuram Rajan (Bezemer*, EPw) Andrew Redleaf (NYT) Kurt Richebächer (1918–August 24, 2007) (Bezemer, RA11) Stephen Roach (BW) Robert Rodriguez (& Tom Atteberry) (Ody, Fortune, WSJ, and The End of Wall Street) - Rodriguez Survey David Rosenberg (BW) Joshua Rosner (Coming Nightmare 2004, and Where Did the Risk Go? 2007) Nouriel Roubini (Bezemer, EP, RA2, BW, Ody, Fortune) John Rubino (How to Profit from the Coming Real Estate Bust 2003) - Rubino Survey Peter Schiff (Bezemer, EP, BW, Ody, WSJ, Crash Proof 2007) Robert Shiller (Bezemer, RA6, Ody, Irrational Exuberance 2, The One Who Saw It Coming) Gary Shilling (BW) Paul Singer (& Jim Chanos) (Bloomberg, Benner, and WSJ) Jens Kjaer Sorensen (Bezemer - The Dynamics of House Prices - International Evidence - 2006) George Soros (RA10) Joseph Stiglitz (RA4, Hirsh) John Talbott (Bezemer*, The Coming Crash in the Housing Market 2003, and Sell Now! 2006) - Talbott Survey Nassim Taleb (EPw, BW, Triana, The Black Swan (4/17/2007)) Christopher Thornberg (LAT) - Thornberg Survey David Tice (Ody) Claus Vogt (Das Greenspan-Dossier in German) William White (Tett, and Early Prediction of Worldwide Banking Crisis Ignored (7/8/2009)) Meredith Whitney (BW, Ody, The Big Short) PageA
  • Score: 0

11:15pm Thu 1 May 14

PageA says...

Mandleson (nothing to see here)
Brown (What could possibly go wrong!)
Blair (fight, fight,fight!)
Mandleson (nothing to see here) Brown (What could possibly go wrong!) Blair (fight, fight,fight!) PageA
  • Score: 1

8:40am Fri 2 May 14

grey_man says...

Have you gone mental? :)

Is that a list of the people who told politicians it was all about to go belly up and were ignored?
Have you gone mental? :) Is that a list of the people who told politicians it was all about to go belly up and were ignored? grey_man
  • Score: 0

9:21am Fri 2 May 14

grey_man says...

Here you go. In 2007 the Conservatives wanted less regulation of the City and were actively campaigning for it in the months leading up to the crash. So what would have happened under a Tory Government? More or less exactly the same thing.

http://tompride.word
press.com/2012/06/29
/lest-we-forget-in-2
007-cameron-endorsed
-even-less-regulatio
n-of-banks-than-labo
ur/
Here you go. In 2007 the Conservatives wanted less regulation of the City and were actively campaigning for it in the months leading up to the crash. So what would have happened under a Tory Government? More or less exactly the same thing. http://tompride.word press.com/2012/06/29 /lest-we-forget-in-2 007-cameron-endorsed -even-less-regulatio n-of-banks-than-labo ur/ grey_man
  • Score: 0

6:55pm Fri 2 May 14

PageA says...

grey_man wrote:
Here you go. In 2007 the Conservatives wanted less regulation of the City and were actively campaigning for it in the months leading up to the crash. So what would have happened under a Tory Government? More or less exactly the same thing.

http://tompride.word

press.com/2012/06/29

/lest-we-forget-in-2

007-cameron-endorsed

-even-less-regulatio

n-of-banks-than-labo

ur/
They were indeed a list of people who predicted the crash, some of whom warned the governments of the day that it was coming. I'm not sure if they contacted the parties who were trying to curry favour to win an election but they communicated their fears to the people in a position to change things at the time. I saw that link earlier in the week. It doesn't change the fact that sometimes a man who says he's having chicken for tea can put fish on the table
[quote][p][bold]grey_man[/bold] wrote: Here you go. In 2007 the Conservatives wanted less regulation of the City and were actively campaigning for it in the months leading up to the crash. So what would have happened under a Tory Government? More or less exactly the same thing. http://tompride.word press.com/2012/06/29 /lest-we-forget-in-2 007-cameron-endorsed -even-less-regulatio n-of-banks-than-labo ur/[/p][/quote]They were indeed a list of people who predicted the crash, some of whom warned the governments of the day that it was coming. I'm not sure if they contacted the parties who were trying to curry favour to win an election but they communicated their fears to the people in a position to change things at the time. I saw that link earlier in the week. It doesn't change the fact that sometimes a man who says he's having chicken for tea can put fish on the table PageA
  • Score: 1

6:56pm Thu 8 May 14

Rowdie says...

PageA wrote:
grey_man wrote:
And guess what Tony. The Tories would have done exactly the same thing to the economy. You might disagree, but then you'd have to show me just when they were pressing for more regulation of banks.
I disagree. You have no way of knowing what the difference might have been if another political party was in power. What we do know is that the people who were in a position do do something.. didn't
Absolutely.....how will anyone be able to hold any government to account over anything. Just saying (because of political bias)....are yes they were wrong ...but if the other lot were in power they would have done the same thing. That is ludicrous.....The Government that is in power is in charge (or in this case obviously wasn't), and the responsibility is theirs alone. Labour have tried and tried to spin their way out of responsibility for the bank's crash.
They new what was going on.....they even left the famous note...."sorry but there is no money left".! and they have the gall to try to lay the blame off..
[quote][p][bold]PageA[/bold] wrote: [quote][p][bold]grey_man[/bold] wrote: And guess what Tony. The Tories would have done exactly the same thing to the economy. You might disagree, but then you'd have to show me just when they were pressing for more regulation of banks.[/p][/quote]I disagree. You have no way of knowing what the difference might have been if another political party was in power. What we do know is that the people who were in a position do do something.. didn't[/p][/quote]Absolutely.....how will anyone be able to hold any government to account over anything. Just saying (because of political bias)....are yes they were wrong ...but if the other lot were in power they would have done the same thing. That is ludicrous.....The Government that is in power is in charge (or in this case obviously wasn't), and the responsibility is theirs alone. Labour have tried and tried to spin their way out of responsibility for the bank's crash. They new what was going on.....they even left the famous note...."sorry but there is no money left".! and they have the gall to try to lay the blame off.. Rowdie
  • Score: 0

7:23pm Sat 10 May 14

Rowdie says...

PageA wrote:
grey_man wrote:
We know exactly what would have happened. We know because nobody in government wanted to properly regulate the banks, the major cause of the crash. We also know that successive governments of all colours had been actively deregulating them. So the onus is on you to prove that the Tories would have averted the crisis by not only increasing regulation in the UK but campaigning for greater regulation overseas too. Feel free to try.
No, you don't know what would have happened. You are making a judgment based upon your exposure to what you consider to be the facts. There's a gentleman involved in a different discussion who won't vote Tory because they didn't keep their promise..they didn't do what they said they were going to do..they changed course. And he says he doesn't trust what they say now because everything can change after the election. You are saying the opposite, that somehow things are fixed. Let's imagine that you and I play for the same football team. I am fantastic at taking penalties and you are rubbish. After I kick the penalty that was going to see us through to the cup final miles over the crossbar I turn to you and say "what are you looking at, you would have done exactly the same or worse" maybe you would..or maybe you wouldn't. What we do know though..is that I did. There is no onus on me to prove that your alternative reality is the truth. That's a bit of an odd thing to say
I absolutely agree...the one in charge is the one who can alter things....not the opposition. How would any government be held to account if all they had to do (which is what Labour do all the time)...if it proves to be wrong; just say oh yes we were in control .....but that was what everybody else thought, any way at the time?

As you say PageA......they also add that by saying that the economic collapse we had while they were in charge was also nothing to do with them.....it was a world crisis. Makes you wonder where they were and what they were doing for those 13 years.
[quote][p][bold]PageA[/bold] wrote: [quote][p][bold]grey_man[/bold] wrote: We know exactly what would have happened. We know because nobody in government wanted to properly regulate the banks, the major cause of the crash. We also know that successive governments of all colours had been actively deregulating them. So the onus is on you to prove that the Tories would have averted the crisis by not only increasing regulation in the UK but campaigning for greater regulation overseas too. Feel free to try.[/p][/quote]No, you don't know what would have happened. You are making a judgment based upon your exposure to what you consider to be the facts. There's a gentleman involved in a different discussion who won't vote Tory because they didn't keep their promise..they didn't do what they said they were going to do..they changed course. And he says he doesn't trust what they say now because everything can change after the election. You are saying the opposite, that somehow things are fixed. Let's imagine that you and I play for the same football team. I am fantastic at taking penalties and you are rubbish. After I kick the penalty that was going to see us through to the cup final miles over the crossbar I turn to you and say "what are you looking at, you would have done exactly the same or worse" maybe you would..or maybe you wouldn't. What we do know though..is that I did. There is no onus on me to prove that your alternative reality is the truth. That's a bit of an odd thing to say[/p][/quote]I absolutely agree...the one in charge is the one who can alter things....not the opposition. How would any government be held to account if all they had to do (which is what Labour do all the time)...if it proves to be wrong; just say oh yes we were in control .....but that was what everybody else thought, any way at the time? As you say PageA......they also add that by saying that the economic collapse we had while they were in charge was also nothing to do with them.....it was a world crisis. Makes you wonder where they were and what they were doing for those 13 years. Rowdie
  • Score: 0

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