John Major tells it as it is!

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
21/02/2010 15:39

Labour continue to blame all our economic woes on the worldwide recession - another smokescreen. Of course the global situation was a contributing factor, but it was the UK Government that destroyed pensions, failed to regulate the banks and turned a blind eye to a mountain of national and personal debt.

I do not believe most people yet realise how serious this debt is: the Labour Government is having to borrow £500million a day. In the time it has taken to read this article, it will have borrowed another £3.5million - more than most people could even dream of earning in several lifetimes.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
21/02/2010 15:41

http://www.dailymail.co.uk/debate/article-1252642/SIR-JOHN-MAJOR-From-1994-onwards-Labour-existed-win-elections-They-mortgaged-nations-future-buy-votes-Were-paying-bill.html

pjnxi



Joined: 12/02/2009
Posts: 167

Message Posted:
21/02/2010 16:29

U/K PLC fore sale. pjnxi

dizzycows


Joined: 12/05/2009
Posts: 2736

Message Posted:
21/02/2010 16:40

Talk about Greese being in deep poo, we are in so deep cant ever see that the roses will bloom for donkey years!......

January labour borrowed another 4 billion, because they have not raised enough through income tax! Yeeeeees, Gordon, we knew this would happen, in any recession if companies dont make profits, no income tax to pay. Cor, it doesnt take a boffin to work out if you spend more than you make/take you soon hit a brick wall......

Woodspeckie


Joined: 25/01/2009
Posts: 2263

Message Posted:
21/02/2010 16:57

And the latest way to make tax if you die you pay £20,000 to the government, supposed to be paying for care for the elderly, you wanna bet.

Marvo


Joined: 30/04/2007
Posts: 194

Message Posted:
21/02/2010 17:07

An excellent article by John Major, it's a pity that the Spitting Image program and his love for pee's killed him off.



He is right about one thing, every labour government in the history of British politics has been voted out after wrecking the British economy, and this one will be no different.



As for Tony Blair, he must be the only prime minister in British history to take the Britain into a war and then resign and leave someone else to sort out the mess.

sporty


Joined: 06/12/2007
Posts: 685

Message Posted:
21/02/2010 18:02

I read quite a lot of financial mags and journals (need to get out more!i know.)The uk is in a worse state than we are told,a lot of debt has been hidden via Pfi(private finance initiative)schemes.We are in a suckers rally in the stock market,there will probably be a double dip set off after the election,even if the tories get in theyll only inherit a country thats up to its eyeballs in debt,worse still will be if we have a hung parliament,markets will tumble,house prices going up?thats a real sucker punch!last month was the lowest month for 10yrs for mortgage advances,avg property price is still well over multiples of earnings based on historical charts,they will fall again and soon,some believe 20-30% more within the next couple of years!The uk pound will also slide against most currencies when it all hits the fan,its already lost 20%+ over the last 18months or so.The uk cant drop interest rates any lower either to help things out.We may see inflation kick in just to finish us off!!

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
21/02/2010 18:22

sporty

I have been predicting this for a few months now. There is no doubt that the 'recession' is going to be a 'double dipper' and the second downward dip is really going to hurt. Fasten your seat belts and hang on to your hats. It will affect all of us and for a long time.

AJ

swannee7


Joined: 21/08/2009
Posts: 394

Message Posted:
21/02/2010 18:40

The real point of J.Major's article was to tell us how this Labour govt has spent the past 13+ years lying to its own people and distorting facts in order to win votes. Nothing's changed. They're still doing it and pumping up the hype even more as E-day looms. God help us.......

greenman


Joined: 16/02/2008
Posts: 526

Message Posted:
21/02/2010 19:02

Part of me hopes that Labour will win the election, because whoever comes in is going to be cast into the political wilderness for a long time - except voters memories are very short.

dizzycows


Joined: 12/05/2009
Posts: 2736

Message Posted:
21/02/2010 19:08

sporty you are right, I and hubby have been saying this for the past year!! Think most thought, na it wont be as bad as that, but how the hell Gordon, and Blaire have told so many lies and still the public believe them!!

AJ the recession hasnt even begun to recover, that was another fudge up of figures to make it look good pre Xmas to get people to think we were comming out, to have a false feeling to spend spend spend, but people have not spent as Gordon wanted, how the hell could they, all finances going to the wrong people!!!

As you so rightly say, hang onto your hats as it certainly will affect every one longer than Labour says, they just do not have the guts to inform its people of the mess we are in..... Sad but oh so true.....

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
21/02/2010 19:30

please god bo, now he is accused of bulling his staff, of course he denies it, god if you are there please in your name give brition back to the brits, or change the world and the atlas and let the world know where every body belongs. You know today i watched a documentay sorry caps loclk, abour romaians throughout the world.Gypsys saD children placed around the world in special homes to steal, youngest 8 years old. The producer went to spain, italy, portugal greece etc,they aRE opps in special care yeah right. they bring in 7000 euros a day. so young , they went back to rominia the barrons have at least 6 vilas mansions each, all one family. they all said they want the new generations to have a future, oh right xxxxxxxxx

dizzycows


Joined: 12/05/2009
Posts: 2736

Message Posted:
21/02/2010 20:10

Lili these barons are in all the third world countries, just look at Haiti and the Gospel group trying to get the kids out there. I still think they would have been sold on, dont think for one miute it was above board. x

sporty


Joined: 06/12/2007
Posts: 685

Message Posted:
21/02/2010 21:14

i couldnt really give a stuff what greece do,they have had deals with goldman sachs to help, very cleverly "cook the books",they have a month to convince the eu that internal measures will be suffice to turn the ship around or the eu will impose measures on them,the problem is the uk will not be bailed out either!our overall debt levels could be as bad as greece!!Savings in cash isas or bank accounts could be hit badly because with low interest being paid and a higher inflation rate means the money will be worth less!Everyones saying the euro will fall against the pound,greece just accounts for just 3%gdv of the eu,its peanuts on the overall scheme of things,itll only be if others fail,spain,portugal+ireland that the euro will be really badly affected imo,if anything if the measures by greece work it will be a positive for the euro and will strengthen the currency at its 1st real test.This will just compound the downward pressure on sterling,if i had lots of cash kicking around, contd

sporty


Joined: 06/12/2007
Posts: 685

Message Posted:
21/02/2010 21:23

contd. what most of the pundits have been writing or at least those i've read,have suggested defensive stocks,also gold bullion or funds that deal with gold and precious metels.If i were a betting man now i'd put a large proportion of my funds in the us dollar,wait for the collapse of the pound and then convert back to sterling when it bottoms out,however that being said most of my fairly substantial assets are in property!I am diversifying a bit in investing in alternative investments like green oil,teak ,crops etc and property in other parts of the world, however i'm in the sh1t too as most of my stuff is in the uk.OH WELL life goes on tomorrows another day etc,etc.