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If we had carried on spending like Bliar and Brown then we would be in a similar state to Greece now.
The problem is that the Tories cut too much, and often cut the wrong things.
Labour then get in and try to rectify the underinvestment of the Tory years and spend more than we have and the cycle starts again.
I've got more time for old school Labour though than Bliar and Brown. Rather than be honest about what they were spending and fund it properly, which would have shown up in the official PSBR figures for government debt, they did it by taking out PFI contracts, which weren't counted in the debt figures so they could claim that we were living within our means. We are now paying billions in PFI payments each year. That's why there is no money now. It's actually worse than borrowing the money up front because a lot of the contracts were badly written and the companies that carried out the PFI contracts are raking in big profits for a poor service.
There has to be some middle ground where there is an understanding that some things need investment, but that there is not unlimited money, so we get rid of the cycle of overspend and then cut to pay off the debt.
Did you hear Labour supporters suggesting that the result should be ignored because only 20% of the electorate voted Conservative?
There was much about the aftermath of the referendum that was predicable, but I don't think anyone anticipated that the Remainers would act with such petulance and bad grace.
Yes.
The referendum question was simple. Great.
The question of Britain's political, economic and social interactions with Europe is complicated. Oh no!
Claiming a clear mandate to do lots of complicated stuff on the back of an overly simplistic question posed after months of confusing narratives and lies to the population, when the result was so close, is stupid.
Or, to put it another way...
Bandcamp
Spotify, Apple et al
It's not petulance and bad grace - it's just some people think it's an utterly suicidal move to leave.
Similarly some Leavers think staying in would be suicidal.
TBH is actually quite nice to see that the electorate actually cares about something for a change.
So, in 1997 we can immediately see the money supply loosen, can we? That's why your graph shows no discernible change whatsoever in 1997 - just a steady continuation of the rise going on under the Thatcher/Major regime?
And then:
Interesting. Yes, there's a near doubling in 4 years from 2004 to 2008, but not 1997-2001 as you seem to insinuate. But if doubling the money supply in 4 years is such a reckless thing to have done then look to the left part of the graph. That shows pretty clearly a doubling of the money supply from 1988 to 1992. Was that also Brown's fault?
Also many of us have always been unhappy that British governments usually only have the support of a minority 35-45% of the vote (let alone of the whole electorate), and yet impose what they want on the majority.
These arguments can't be settled unless the outcome is so clear and unequivocal that the losers accept it in their deepest feelings, rather than the 'maths' of a vote - for that, you need a clear majority of the entire electorate, at minimum. The Leave vote wasn't remotely close to that, and nor would any possible Remain vote have been either.
For what it's worth (don't really want to hijack the thread, just mentioning for comparison) I think the Scottish independence result was close to it. The turnout was so high that No came quite close to a true majority - 47%. Although a lot of Yes voters haven't given up the idea in the long term, most regard the question as settled for a long time now and there is no great enthusiasm for another one in the foreseeable future regardless of what Sturgeon says.
"Take these three items, some WD-40, a vise grip, and a roll of duct tape. Any man worth his salt can fix almost any problem with this stuff alone." - Walt Kowalski
"Only two things are infinite - the universe, and human stupidity. And I'm not sure about the universe." - Albert Einstein
http://metro.co.uk/2011/04/11/gordon-brown-i-made-big-mistake-on-banks-before-financial-crisis-650630/
Remember, it's easier to criticise than create!
Yes, the referendum question was simple: 'Should the United Kingdom remain a member of the EU or leave the EU?'
Anyone that would rather that have remained in the single market etc. should have voted remain.
I'd also not that the graph clearly shows flat money from 1991-1996 where it starts to grow and accelerate that growth The curve starts to steepen in 1997 and continues to do so till 2010..
theres no need for name calling.
pissflap lips.