Current Affairs Fox hunting

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I've just said that the debt has risen, and said why. I said that the deficit is the most important indicator. And in response, you post a graph of the debt. Just showing that you didn't take in anything I've just said about the difference between the two.

The debt rose (as did the deficit) post 2008 under New Labour. What I can never understand from more right leaning economists is they omit the glaringly obvious critique of New Labour to make what to me is always a bizarre one.

The critique of New Labour is that they believed they could tame capitalism, and particularly the financialisation of it. They reduced "red tape" on banks and allowed them to act as they wished. They completely crashed the economy as a result of it. Ridiculously Labour then gave them loads of taxpayers money to get them out of the mistake they'd made, without taking back any control. Imagine you're mate losing loads of money in the bookies, and rather than stopping him being so reckless in gambling, you tell him you'll underwrite his losses. How sensible do you reckon he'd be long term.

At the same time as this (and in the years that followed) schools were left underfunded (some with buildings falling down), the NHS wasn't given the money it required and tiny amounts of social housing were built. The Deficit and debt were paid down though.

What I can never gather is that Labour seem only to be criticised for their spending (or lack of) on public services while the route cause of the problem (i.e. the banking crisis and their decision to gear the economy in that way) is largely deemed off limits. I remember snotty nosed Tories telling me that Labour had it right in the banks before it all collapsed. The same cretins now seek to make capital out of that and have the gaul to try and point out I had my priorities wrong.

To me it's cynical. Labour did awful things in government, but for the most part the Conservatives broadly went along with them. There is a collective failure to not discuss what happened honestly. I can fully understand people's anger at Labour but can never really understand how that leads them to think the Conservatives are who to vote for.
 
Honestly wouldn't shock me, in a dystopian world without foxes the conservatives have had to turn to the poor, starting off at foodbanks the brave riders and their blood thirsty dogs attempt to chase down and kill those oiks as they dare to head to the job centre.

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The debt rose (as did the deficit) post 2008 under New Labour. What I can never understand from more right leaning economists is they omit the glaringly obvious critique of New Labour to make what to me is always a bizarre one.

The critique of New Labour is that they believed they could tame capitalism, and particularly the financialisation of it. They reduced "red tape" on banks and allowed them to act as they wished. They completely crashed the economy as a result of it. Ridiculously Labour then gave them loads of taxpayers money to get them out of the mistake they'd made, without taking back any control. Imagine you're mate losing loads of money in the bookies, and rather than stopping him being so reckless in gambling, you tell him you'll underwrite his losses. How sensible do you reckon he'd be long term.

At the same time as this (and in the years that followed) schools were left underfunded (some with buildings falling down), the NHS wasn't given the money it required and tiny amounts of social housing were built. The Deficit and debt were paid down though.

What I can never gather is that Labour seem only to be criticised for their spending (or lack of) on public services while the route cause of the problem (i.e. the banking crisis and their decision to gear the economy in that way) is largely deemed off limits. I remember snotty nosed Tories telling me that Labour had it right in the banks before it all collapsed. The same cretins now seek to make capital out of that and have the gaul to try and point out I had my priorities wrong.

To me it's cynical. Labour did awful things in government, but for the most part the Conservatives broadly went along with them. There is a collective failure to not discuss what happened honestly. I can fully understand people's anger at Labour but can never really understand how that leads them to think the Conservatives are who to vote for.

Two things, firstly if some terrorists hadn't done a despicable act in 2001 then I would like to think Brown would have sorted the country's finances out completely. The Iraq and Afghanistan wars must have cost us (pun intended :) ) the chance to really consolidate during the boom years.

Second point Labour, did not cause the world banking crisis, if anything that was American financial regulation that allowed synthetic CDOs that our banks had bought into thinking it was safe due to the overall credit rating, later we found out it was just built upon sub-prime mortgages. Not saying they are absolutely blameless in all of this, just your critique is harsh and in my view unfair.

Probably not the thread to have this discussion on... so anyway fox hunting is bad and the toffs should just find another hobby or go clay pigeon shooting more often.
 
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