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Why is the chancellor being savaged for telling the ^truth^ about the economy?

(35 Posts)
Monkeytrousers Mon 01-Sep-08 12:24:18

I am baffled

especially as I don't think 'talking it up' was working hmm -

meglet Mon 01-Sep-08 12:31:05

I agree. Although haven't had time to read the whole interview. Better to be realistic about the mess we're all in I think.

CatIsSleepy Mon 01-Sep-08 12:31:37

because in politics whatever you say you can't win, i think

VeniVidiVickiQV Mon 01-Sep-08 12:32:49

What CIS said.

hanaflower Mon 01-Sep-08 12:33:17

Message withdrawn at poster's request.

Hulababy Mon 01-Sep-08 12:34:12

But is it the truth? Are we really at an all time low for 60 years? Yes, the building industry and housing is a big problem, but from what I can see we are nowhere near as bad as we have been in the past - think of the 70s, now it was really bad then for a time. We are not, IMO, like that here yet. And many of the economists don't really think it will get that bad again - but that housing will take its toll for a bit longer.

ParCark Mon 01-Sep-08 12:36:35

Message withdrawn

hanaflower Mon 01-Sep-08 12:37:09

Message withdrawn at poster's request.

cestlavie Mon 01-Sep-08 13:02:01

Well because it's not the truth. Whichever you look at it, it's nowhere near as bad (or forecast to get anywhere near as bad) as the 1970s.

Certainly a dose of realism was called for given that he hadn't revised his forecasts for a while but what he said was both inaccurate and likely to cause people and the markets to panic (both of which happened).

Monkeytrousers Mon 01-Sep-08 16:41:55

The 70s? You mean the winter of discontent? That was a very domestic thing. And actually,people were very well off in the 70s in reletive terms - the gap betwen rich and poor was never so small, and has been widening ever since. It's true, for all the tecnological advances, the average standard of living has never topped what it reached in the 70s.

Thing about this slump/recession is it's a global phenomenon. One chancellor from one country is not going to influence it.

You're right, the politicians can't win.

laweaselmys Mon 01-Sep-08 18:45:59

Because it doesn't have to be true!! The more fuss that is made about a recession and the more we panic and stop spending the worse it gets. It would be much better for the economy if nothing was said. Obviously, there would still be a problem, but it wouldn't be as serious. That's what people mean when they say the media talked the country into a recession, not that we were never going to hit a bit of a low patch without it, but that it wouldn't be nearly as low if they'd left it alone and not said anything.

It's just economics. That's why he's being chastised, and rightly so in my opinion.

At the same time, I can see why he said it. I don't like politics and games and I would rather the truth was out, and what I have written makes me very unhappy, no matter how much I know it to be true.

expatinscotland Mon 01-Sep-08 18:47:32

Recessions are not caused by people panicing.

They truly aren't.

They are an inevitable part of every economy and the result of a combination of factors, several of which - weather, for example - are beyond anyone's control.

expatinscotland Mon 01-Sep-08 18:49:39

Exactly, MT, you can't media an economy into a bull market anymore than you can media it into a bear.

It happens.

Have people honestly forgotten that already?

I'm cynical enough without actually having to stretch to believe that there are people out there who have forgotten the last recession, the last time the economy went through this part of its cycle.

limecrush Mon 01-Sep-08 18:50:43

MT- he has broken the cardinal rule of actually saying something sensible and non-spin

tissy Mon 01-Sep-08 18:52:17

agree

while tb was in power, and everyone was happy (give or take the odd war) he was the best chancellor we've ever had. He took over the reigns just as everything began to go pear-shaped (through no fault of his own), and now it's all his fault?

The poor man can't win, whatever he says.

policywonk Mon 01-Sep-08 18:55:39

I think AD came out of that Grauniad interview rather well (albeit he might lose his job - although maybe that wouldn't be such a bad thing either at the moment). He came across as someone who was prepared to talk straight, and who has a sense of humour - the sort of politician that the public likes. It's unfortunate for him that his fortunes are pretty much shackled to Brown's.

Lauriefairycake Mon 01-Sep-08 18:57:40

recessions are normal, prices going up and down are normal and have always been a feature of human existence.

What is abnormal is people expecting stability.

IMO he is being savaged because people are twats. Greed and avariciousness have taken over.

expatinscotland Mon 01-Sep-08 18:58:15

Don't feel too sorry for him, policy, I'm sure he's going to get a hell of a pension.

expatinscotland Mon 01-Sep-08 18:59:02

Amen, Laurie.

I'm shocked that people are shocked by this 'downturn in the economy' recession.

I mean, does the word 'duh' mean anything to you?

Swedes Mon 01-Sep-08 21:12:38

I feel sorry AD.

expatinscotland Mon 01-Sep-08 21:13:44

I feel sorry for all the people who have been taxed into near oblivion by this administration and can't afford to put FA away for retirement.

Not for AD.

He'll do well out of all this.

dinny Mon 01-Sep-08 21:16:58

because they have tried to sweep it all under the carpet and deny anything is wrong for a long time

and they are TOTALLY incompetent

Swedes Mon 01-Sep-08 21:17:07

Expat - How does one get taxed into near oblivion - is it a bit like being off one's face on coke? grin

hecate Mon 01-Sep-08 21:17:21

Because people don't want to know the truth.

They want to hear that we are better off now than ever before, every child is a genius thanks to the new improved education system and that a magical way has been found to finance everything without taxing anyone.

expatinscotland Mon 01-Sep-08 21:18:15

i've never done coke, but i've seen costs and taxes rise so much, even in the past year, that we may well freeze into oblivion this winter.

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