Quote:
Originally Posted by OLD BOY
If that is an excuse you have made up to excuse Labour for its gross overspending and failure to establish safe reserves of money or gold which led us into a situation where the UK had no money to offset the ravages of the global financial crisis, you are fooling no-one.
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You can count on one hand the number of times any Government has ran a budget surplus since 1979, and as a result the total debt has largely risen year on year in that time, outstripping inflation over that time.
It’s an outright, albeit convenient for you, lie to claim that this countries problems started with the 2008 financial crisis. The gold reserves, or lack of, are a complete red herring - the country was already heavily in debt and running a deficit. As it has been since 1979.
I note you didn’t address any of the other points I made in my fairly lengthy post instead focusing on a single sentence for a sound bite.
A poor response even by your own standards, Old Boy.
For information: the gold Brown sold was for $3.5bn, in 2007 it’d have been worth double. An absolute drop in the ocean compared to the £500bn rescue package the banks got for their failed ventures in capitalism.