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Originally Posted by Osem
Labour's profligacy, waste and ineptitude and regulatory failures exposed the UK to an extent which needn't have been the case. They gambled that borrowing and spending as if there was no tomorrow would keep them in power. Sadly for us it did and thereby made our economy even more susceptible to other, world, events.
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It did but it's all a bit vague. Regulatory failures is the most difficult as these were international organisations operating all over the place. There were few calls from tighter regulation and few from the Conservatives in opposition. An attempt to increase regulation at a time when banks were rolling in money would have been seen as counter-productive and hostile to business and they would have equally been attacked for that. There is quite a lot of hindsight there. I agree they should have cut the deficit and the debt whilst the money was coming in however.
At the end of the day these are the reasons Labour was voted out. Labour's incompetence doesn't excuse the Conservatives/Liberal Democrats from failing to improve the economy. They are now the Government. That Labour are perceived to be worse is also not an excuse, just means we have a poor choice at the next election.
It's been two years. The honeymoon is over.
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The US is far from out of the woods in spite of the billions Obama's thrown at it.
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Seems to be getting better month on month however. We've showed no progress at all. The car industry is getting better over there as well.