tag:blogger.com,1999:blog-29618513.post3358907421542158612..comments2023-09-13T09:59:36.013+01:00Comments on snowflake5: UK Economy grew by 0.2% in Q2snowflake5http://www.blogger.com/profile/14700425293614182769noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-29618513.post-75974665530154368372008-07-26T21:27:00.000+01:002008-07-26T21:27:00.000+01:00Alan Peakall - the problem with Lawson was both fi...Alan Peakall - the problem with Lawson was <I>both</I> fiscal and monetary policy. The economy was growing strongly in 86,87, and 88 - at one point growth was over 5%, the economy was red-hot - therefore fiscal policy should have been very tight. But Lawson released a flood of money into the economy, with his dramatic tax cuts. I think he wanted to "make a name" for himself as a legendary snowflake5https://www.blogger.com/profile/14700425293614182769noreply@blogger.comtag:blogger.com,1999:blog-29618513.post-36534961974426976052008-07-26T18:58:00.000+01:002008-07-26T18:58:00.000+01:00Snowflake,Could you expand on your diagnosis of th...Snowflake,<BR/><BR/>Could you expand on your diagnosis of the policy errors of the late 1980s? As I understand you, your are saying that the primary error was one fiscal laxity in some or all of the budgets from 1984-1989, most probably 1986-1989. Which of these budgets do you think was the most mistakenly loose and why?<BR/><BR/>You then indict Lawson for trying to keep the pound and interest Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29618513.post-66564595731069290662008-07-26T15:02:00.000+01:002008-07-26T15:02:00.000+01:00harry flashman - the recession of the 90's did not...harry flashman - the recession of the 90's did not have anything to do with the 70's, anymore than the 70's had anything to do with the 50's. The recession in the 90's happened because Nigel lawson cocked up in his budgets in the late 80's, releasing a torrent of cash into the economy while trying to keep the pound and interest rates artificially low. i.e. it was a recession made in Torydomsnowflake5https://www.blogger.com/profile/14700425293614182769noreply@blogger.comtag:blogger.com,1999:blog-29618513.post-36115087153084620442008-07-26T11:30:00.000+01:002008-07-26T11:30:00.000+01:00Interest rates are only coming down for those with...Interest rates are only coming down for those with big deposits.<BR/><BR/>But don't take my Tory words for it..<BR/><BR/>The housing market is in a death throw:<BR/><BR/>http://www.independent.co.uk/news/business/news/mortgage-approvals-plunge-by-66-in-a-year-875760.html<BR/><BR/>The economy shrank in May and June<BR/><BR/>http://www.telegraph.co.uk/money/main.jhtml?view=DETAILS&grid=&Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-29618513.post-47063890315582458212008-07-26T03:25:00.000+01:002008-07-26T03:25:00.000+01:00harry flashman - Tories trying to take credit for ...harry flashman - Tories trying to take credit for the Labour boom <I>again</I> eh? Come on. Conservatives were in power for <I>18 years</I>. During that time they <I>never</I> managed to have eleven consecutive years of growth - instead they gave us two very nasty recessions. Ken Clarke was a chancellor for a mere 3 years. Anyone can have three years of growth - even useless Dubya Bush managed itsnowflake5https://www.blogger.com/profile/14700425293614182769noreply@blogger.comtag:blogger.com,1999:blog-29618513.post-29866093391925539532008-07-26T01:20:00.000+01:002008-07-26T01:20:00.000+01:00Of course it could be said that the 11yrs were a c...Of course it could be said that the 11yrs were a combination of a golden legacy from Ken Clarke and a boom fuelled by credit and mortgage equity withdrawls. <BR/><BR/>Brown likes to blame the credit crunch but what really will stop his growth in GDP is the bursting of the house price bubble.<BR/><BR/>Personal debt got out of control - now the hard work come paying it back. Has Gordon any answers ?Anonymousnoreply@blogger.com