Coronavirus - political views - supporting or otherwise...

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doublebogey7 said:
Wrong, national debt in 2007 as a percentage of GDP was lower than it had been at the end of the previous Tory Government regime in 1997 at under 40% It rose through the following 2 years due to positive measures Darling took to stave off the worst of the international financial crisis. It has risen over since to over 80% of GDP, so remind me which party of Government is fiscally most responsible.
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Think all parties are pretty rubbish deep down.. even though I prefer just left of centre

Almost like the government needs a reform
 
Foxholer said:
Not necessarily the worst investment decision, but certainly the worst timing!
Over 60% of the (paper?) 'loss' has been recovered as interest from what was purchased with the proceeds!
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How have we recovered that loss? Brown sold over half our gold resrves - circa 400 tonnes at an average of $275/ per ounce between 1999 and 2002, rasing $3.5bn. Today gold is $1814, so 6.59x higher. Thus that sale today would be $23bn, circa $19.5bn more. Not really sure how the Treasury have done with the proceeds to earn around $12bn?
 
PNWokingham said:
How have we recovered that loss? Brown sold over half our gold resrves - circa 400 tonnes at an average of $275/ per ounce between 1999 and 2002, rasing $3.5bn. Today gold is $1814, so 6.59x higher. Thus that sale today would be $23bn, circa $19.5bn more. Not really sure how the Treasury have done with the proceeds to earn around $12bn?
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Just imagine how rich we’d all be if we’d invested in Apple at the beginning!

It can only be judged at it’s moment in time, not with current market rates.

I’m sure we could all make a fortune with hindsght.

https://amp.ft.com/content/5788dbac-7680-11e0-b05b-00144feabdc0
 
PNWokingham said:
How have we recovered that loss? Brown sold over half our gold resrves - circa 400 tonnes at an average of $275/ per ounce between 1999 and 2002, rasing $3.5bn. Today gold is $1814, so 6.59x higher. Thus that sale today would be $23bn, circa $19.5bn more. Not really sure how the Treasury have done with the proceeds to earn around $12bn?
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Read the last line of my post!
Here's a link that might help....https://www.independent.co.uk/voice...nomy-analysis-financial-bullion-a8909611.html
Oh. And if you really want to criticise Brown...The last paragraph of the link will provide (unfortunately unexplained) ammo!
 
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pauldj42 said:
Just imagine how rich we’d all be if we’d invested in Apple at the beginning!

It can only be judged at it’s moment in time, not with current market rates.

I’m sure we could all make a fortune with hindsght.

https://amp.ft.com/content/5788dbac-7680-11e0-b05b-00144feabdc0
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and to dump at the very end of a 20-year bear market could be called a poor decision. We are not talking equity rallies here just national reserves and we had less gold than many other economies at the time. Poor decision however you cut it
 
PNWokingham said:
How have we recovered that loss? Brown sold over half our gold resrves - circa 400 tonnes at an average of $275/ per ounce between 1999 and 2002, rasing $3.5bn. Today gold is $1814, so 6.59x higher. Thus that sale today would be $23bn, circa $19.5bn more. Not really sure how the Treasury have done with the proceeds to earn around $12bn?
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Compound interest.
 
The FT call it a correct decision just a few years after, yet 2 blokes on a Golf Forum call it incorrect! Mmmmmm, who to believe.:unsure:

Government Ministers from all Parties make decisions based on facts at the time, with unforeseen circumstances and then hindsight these decisions can be questioned.

I’m sure plenty of recent decisions that are questioned are dismissed as the right decision at the time.
 
pauldj42 said:
Just imagine how rich we’d all be if we’d invested in Apple at the beginning!

It can only be judged at it’s moment in time, not with current market rates.

I’m sure we could all make a fortune with hindsght.

https://amp.ft.com/content/5788dbac-7680-11e0-b05b-00144feabdc0
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I had a colleague in our US office who did just that. Didn't put that much in, ended up with well over a million a few years ago when he sold up. And are people still going on about Gordon Brown selling our gold? It's the gift that keeps on giving for some.
 
doublebogey7 said:
Wrong, national debt in 2007 as a percentage of GDP was lower than it had been at the end of the previous Tory Government regime in 1997 at under 40% It rose through the following 2 years due to positive measures Darling took to stave off the worst of the international financial crisis. It has risen over since to over 80% of GDP, so remind me which party of Government is fiscally most responsible.
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I would suggest it wasnt Brown and if you look at the way borrowing has been reduced since labour were removed the answer to your question is obviously 'not labour'
uk-net-borrowing-percent-gdp.png
 
pauldj42 said:
The FT call it a correct decision just a few years after, yet 2 blokes on a Golf Forum call it incorrect! Mmmmmm, who to believe.:unsure:

Government Ministers from all Parties make decisions based on facts at the time, with unforeseen circumstances and then hindsight these decisions can be questioned.

I’m sure plenty of recent decisions that are questioned are dismissed as the right decision at the time.
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yes. 2 blokes from the forum. I am saying categorically and uneqivically that Brown selling gold was a monumentally bad decision for our country. It is hard for any sane person to say otherwise. As was his running of the Treasury for the next 8 years when he borrowed money every year in a booming economy rather than shrinking our debt so we have firepower if we needed it. And boy did we need it in 2009!
 
DRW said:
That's isn't quite true, it went on whilst labour was in power as well btw.

Its something I looked at a while ago :- (goto figure/chart 4 on the first link for since 1987/88).

https://www.kingsfund.org.uk/publications/nhs-hospital-bed-numbers

https://www.statista.com/statistics/473264/number-of-hospital-beds-in-the-united-kingdom-uk/


Sure a fair reason is also down to key hole surgery/pregnancy stays and better surgery being done on day stays now.

I had my gall bladder out on key hole, would have been a slash you open job in the 1980s and a stay in hospital, as example.
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Do you think they don't do keyhole surgery in Germany?
 
SocketRocket said:
I would suggest it wasnt Brown and if you look at the way borrowing has been reduced since labour were removed the answer to your question is obviously 'not labour'
View attachment 31557
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Er...When did the Lehman etc Financial meltdown happen? 2008! So that graph merely reflects the 'quite reasonable' consequent Government action! It's highly likely that an even worse 'picture' of government borrowing will happen consequential to Cov19!
 
Foxholer said:
Er...When did the Lehman etc Financial meltdown happen? 2008! So that graph merely reflects the 'quite reasonable' consequent Government action! It's highly likely that an even worse 'picture' of government borrowing will happen consequential to Cov19!
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The big borrowing from Brown was before and after the financial crash and you cannot deny the way it was reduced after Labour.

http://www.debtbombshell.com/britains-budget-deficit.htm
 
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