Friday, 25 June 2010

Lies, Damned Lies and Politics


Have you noticed how ConDem apparatchiks keep repeating the mantra that Gordon Brown and Labour policy was responsible for causing the UK budget deficit? I suspect they think that if they repeat it enough times, then the UK public will come to believe it.

This is an extract from Wiki about the global financial melt-down:

The financial crisis of 2007 to the present is a crisis triggered by a liquidity crisis in the United States banking system and caused by the overvaluation of assets. It has resulted in the collapse of large financial institutions, the bailout of banks by national governments and downturns in stock markets around the world. In many areas, the housing market has also suffered, resulting in numerous evictions, foreclosures and prolonged vacancies. It is considered by many economists to be the worst financial crisis since the Great Depression of the 1930s. It contributed to the failure of key businesses, declines in consumer wealth estimated in the trillions of U.S. dollars, substantial financial commitments incurred by governments, and a significant decline in economic activity. Many causes have been suggested, with varying weight assigned by experts. Both market-based and regulatory solutions have been implemented or are under consideration, while significant risks remain for the world economy over the 2010–2011 periods.


7 comments:

  1. Say anything often enough and *someone* will believe it; "fair tax system" for example... :)

    ReplyDelete
  2. Oh yes, and you missed out the bit about the Public Sector being to blame for the bankers' excesses...

    Thank you for being a voice of reason, Sir!

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