Labour and the last recession

[caldeyrfc]

We were told many times on here by the wingnuts that the last recession was all Gordon Brown's fault
Seems that Cameron doesn't agree

"As the Bank of England has said and the IMF has underlined, and the Treasury has now confirmed, the shock to our economy after leaving Europe would tip the country into recession. This could be, for the first time in history, a recession brought on ourselves"

[UKHamlet]

Most recessions aren't the "fault" of the government of the day. They can be complicit in the causes of the recession though and there is no doubt in my mind that the pursuit of neo-liberal policies by Thatcher and Blair were part of the overall patchwork quilt that led to the recession. That the current and previous governments have continued to follow these policies simply underlines Einstein's apocryphally assigned definition of insanity as: "doing the same thing over and over again, but expecting different results..."

[UGagain]

Any currency issuing government can avoid recession. The UK needs to get out of the SGP, the Six pack and the Two pack ASAP.

The IMF has not been right about anything since Bretton Woods collapsed in 1971.

The EU is imposing a deliberate depression on vast swathes of its constituents.

[UKHamlet]

Any currency issuing government can avoid recession. The UK needs to get out of the SGP, the Six pack and the Two pack ASAP.

The IMF has not been right about anything since Bretton Woods collapsed in 1971.

The EU is imposing a deliberate depression on vast swathes of its constituents.

That's an entirely different proposition. Getting out of a recession and being at fault for causing one are different things. I reiterate, no government is, in isolation, at fault for recessions.

[UGagain]

Any currency issuing government can avoid recession. The UK needs to get out of the SGP, the Six pack and the Two pack ASAP.

The IMF has not been right about anything since Bretton Woods collapsed in 1971.

The EU is imposing a deliberate depression on vast swathes of its constituents.

That's an entirely different proposition. Getting out of a recession and being at fault for causing one are different things. I reiterate, no government is, in isolation, at fault for recessions.

I disagree. Currency issuing governments have the power to avoid recessions through counter-cyclical spending.

[UKHamlet]

They can ameliorate it for sure, but that's just proper management. If a global recession happens, there's nothing a single government can do to avoid it. What I'm trying to get at is not what you do about a recession, but rather the causes, which are usually outside the remit of individual governments, while retaining an element of complicity because of their actions in concert with other governments.

[UGagain]

They can ameliorate it for sure, but that's just proper management. If a global recession happens, there's nothing a single government can do to avoid it. What I'm trying to get at is not what you do about a recession, but rather the causes, which are usually outside the remit of individual governments, while retaining an element of complicity because of their actions in concert with other governments.

The Australian Government and the Chinese Government avoided recession in 2008 by deficit spending.

What more do you need to know?

[UGagain]

And further to that any government of a modern economy that runs a trade/current account deficit that tries to balance its fiscal position, or worse, runs a fiscal surplus will cause a recession.

[Zhivago]

And further to that any government of a modern economy that runs a trade/current account deficit that tries to balance its fiscal position, or worse, runs a fiscal surplus will cause a recession.

True. Will suck demand out of an economy.