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Badger

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Posts posted by Badger

  2. Posted

    Paul, an attempt to look at the public debt issue objectively.

    In 1974 - Wilson elected it was 47.9% of GDP

    1979 - Thatcher elected it was 43.6% of GDP - it fell slightly under Wilson/ Callaghan

    1984 - a similar 5 year period ("Mid Thatcher") - it was still 43.6% - almost unchanged

    1989 - 5 year period - 29.3%. A huge fall that supporters will no doubt attribute to her economic policies. Detractors will point to the huge influx of North Sea oil revenues and a whole series of one-off asset sales (BT etc).

    1994 - Mid Major - 36% - rising again. MT supporters would suggest a leftward swing even under Major, detractors might say you cannot sell assets indefinitely. A more sensible view is that the level of debt is affected by economic conditions and that there a significant time lag effects from previous years.

    1997 - end of the Tory government - 41.9% of GDP. The net effect of the successive Tory governments was a fall of 1.7%, approximately 0.1% per annum. This compares to a net fall of 4.3% in the Callaghan Wilson era - a fall of c 0.9% pa. In other words, public debt fell 9 times more quickly under the Wilson/ Callaghan Governments than it did under the Thatcher/ Major ones. This is despite the huge north sea revenues and the biggest period of public asset sales ever recorded. Hence my criticism of MT above

    Public debt fell quite sharply under the Blair - it fell to 29.3% in 2002. A significant proportion of the credit for the must go to the much derided Major and to Ken Clarke, rather than MT who seems to gain all the credit for being tough but was really relatively profligate. This was not due to generosity with the public services but imo to the economic incompetence displayed by the government.

    Public debt has risen steadily since 2002, to 36.4% by 2008. In 2009 and 2010 it has "exploded" - 44% in 2009 and 53.5% is projected for 2010. I would argue that this is a very sensible response to the challenges faced by potentially the greatest economic crisis for at least 80 years and possibly more. A failure to have increased debt at such a time would have been incomprehensible as would be demonstrated by international comparisons. Nevertheless, it would be fair to say that prior to this the trajectory was upward in any case.

    What is striking is the lack of objectivity in the scare stories that we see in the press:

    Debt as a proportion of GDP was

    1970 Heath elected - 64% of GDP

    1964 - Wilson elected 1st time - 91%

    1956 Macmillan "anointed" - 129% of GDP

    1951 - Churhill elected - 175% of GDP

    1945 - Atlee elected - 216% of GDP

    1940 - 110%

    1935 - 165% - an interesting comparison!

    1930 - 161.6%

    1920 - 130.7%

    You have to go back to before the first world war to see levels of debt comparable with late 20th century/ early 21st century. The stories about current level of indebtedness are the product of economic naivety at best or more likely, the simple desire to publish scare stories and "bad news."

  3. Posted

    I think you need to check some facts...

    [quote user="crafty canary"]

    Greatest post-war prime minister this country has had. Put the country back on its feet after the disaster of yet another "We know how to spend your money better than you do" Labour government,

    [/quote]

    ... doubled VAT, wasted most of the "one off" bonus of North Sea oil to pay for the millions of unemployed that she created

    [quote user="crafty canary"]

    defended the freedom of British protected Falklanders against a Fascist bully,

    [/quote]

    ... invited the Fascist wimp (many of whom were her friends btw) to invade by withdrawing the naval protection for the island

    [quote user="crafty canary"]

    stood up to and whipped the looney left''s pin up boy Scargill

    [/quote]

    .... destroyed the coal industry for short term political gain leaving us facing an energy crisis in a few years time

    [quote user="crafty canary"]

    and didn''t sell us out to Brussels.

    [/quote]

    .... signed the single European Act which saw the greatest transfer of power to Europe of any preceding or subsequent change

    [quote user="crafty canary"]

    Compare her to Bliar and ''Boom or Bust'' Brown and weep for how we are heading South once again.

    [/quote]

    ...bust, boom, bust Maggie didn’t even have the excuse of a world economic crisis – hers were mainly self-generated

    Worst PM since post war Churchill, blinded by loathing and dogma. John Major, who is much derided, did far better and with Ken Clarke’s help managed to put right much of the damage that she created in the country.

    Unfortunately for the Tory Party it has taken over 20 years to put right what she did to the party... and it’s still not done. Cameron has to pretend he’s like Blair to win over the voters, whilst also pretending to be like Thatcher to win over the Ultras in the Tory party!

  6. Posted

    [quote user="Sir_Stiffy_Cutt"]So you would be the person who doesn''t question anything and accepts everything you are told

    No, and that is why I challenge your witless drivel You have no information other than your seemingly endless wish to stir things up.

    We are told little about how the club is actually run. Unfortunately that doesn''t stop cretins like you from fabricating stuff then concocting conspiracy theories based on some erronious supposition that everyone on the board has some hidden agenda and has no other intent other than to harm the club.

    You sir, are an a***. You serve no purpose despite your pretence of being some alternative authority on the governance of the club. I don''t doubt that you have some other agenda but to be honest myself and other City fans don''t give a flying fig for your tedious a*** gravy. So please take your repetetive twaddle back to binland and let us City fans get on with supporting the club we love.

    I shall be at Carrow Road tomorrow, not giving a stuff whether we are too arrogant in our acclaimation of our club, neither if there are enough tickets for Brentford fans to be there to be offended.

    To hell with the whingers and whiners, the ever so humble Arthur Whittles, the moaners and groaners, the saddos that seem to find endless reasons to carp on at the club.

    We can go top of the table tomorrow. We are looking to break so many records this season that the club deserves every REAL fan to be fully behind them. I shall be there, as will most others on this board. As to the rest then you can go to hell ![/quote]

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