More grim economic news
The latest jobless figures are out this morning and they're even worse than expected: unemployment, by the broad measure Labour always favoured in opposition, increased by 164,000 to 1.79m between June and August, the steepest rise since 1991.
This latest grim economic news comes hard on the heels of yesterday's 5.2% inflation increase, a 16-year high. Both figures undermine the economic record on which Gordon Brown has dined out since he became Chancellor in 1997.
And, as Mr Brown joins other European leaders in Brussels to push his plans for redrawing the global financial architecture, the bloom is coming off his much-heralded bank bail out plan: yesterday the New York stock market was unimpressed by the Bush administration's version of the Brown bank bailout and this morning the London stock market is back in negative territory again, as the complexities and difficulties of the rescue operation strike home.
All this should cause the boosters trumpeting a Brown bounce to pause: the bailout plan is no panacea and we're in for a miserable litany of economic statistics this winter and beyond. Even the public sector, which has enjoyed a privileged position during the Brown years, looks like it will have to shed jobs.
Unemployment is clearly heading for 2m and worse, if not by Christmas then certainly soon after; inflation might have peaked but there could be more in years to come given the huge debt and money supply increases being pumped into the economy; and the financial turmoil is going to take several years to sort out, its fallout still hurting by the time the general election comes in the spring of 2010.
On today's show we'll have the new employment minister, Tony McNulty, who has inherited a difficult portfolio in the current climate; and for the Tories we'll have the shadow innovation, university and skills secretary, David Willets. It's not clear that the Tories have anything to stop unemployment rising for the foreseeable future.
We'll be talking to a small businessman who is suffering from the downturn and having to lay off staff. We're also trying for a union leader.
It's Wednesday so it must be Prime Minister's Questions (PMQs) but with the PM in Brussels it's the reserve team today at Noon: Harriet Harman, William Hague and Vince Cable. Such contrasting styles always make for an interesting joust.
And we'll have Gordon Brown champion and TV star, Piers Morgan, yet another celebrity who wants to talk to us about the dangers of climate change.
That's all on the Daily Politics today on BBC2 from 11.30pm til 1pm - the best 90 minutes in political TV.
© MMX~RS~q~RS~~RS~z~RS~53~RS~)
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Dear Andrew,
I am desperate can you please help me,
I just created a new bank this morning, but when I opened it up I found there was no money in it to loan out to local business to stimulate the local economy.My bank is nearly bankrupt.
Is there a form I can fill out to get several billion pounds from Gordon "The Messiah" Brown so my bank can take off?
Since I missed making money on the dot.com & housing bubbles. I can't afford to miss this bank bubble scam!
My bank needs this money desperately to stave off bankruptcy.
yours pleadingly Tony
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All that has happened, and that which is yet to happen, during the last 12 months should have been easy to forecast by the so called experts. But as usual the political needs of the government was put before that of the nation as ministers refused to act realistically. This is not just because of the mismanagement of the last ten years, although it certainly brought things to a head, but because of an unrealistic aim of constant growth since the 70's. We now need to have a drastic change in the world of finance and industry. Speculation has to be removed from the financial world.
We have to remove the made up fiscal rules and policies developed for political needs over real money management.
We need to move from an oil based world economy.
We need to accept that we need to find work for people who are not highly educated.
We need to move more quickly into the future by developing cleaner technology and using it. not hold it back because of the power of the oil barons with political clout.
Simple changes that will take a serious change in political and business minds.
How realistic these moves are given the hold that big business has over the G7 group?
This country will continue to decline and the government and press will continue to talk up the lies and deceit that blinds us all unless we do make a radical change to the way we view life.
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Piers Morgan and the political parties may be right to be concerned about climate change, carbon footprints, recycling, pollution, and so on, but their approach is inefficient. The planet will not be saved by bullying, penalising and cajoling people into restricted ways of living. Human nature is not like that.
The problem will only be solved, eventually, by scientists, engineers and technologists inventing and developing new or improved fuels, sources of energy, and energy-saving devices or techniques. All - or most - of the current efforts and expenditure should be focused on this end, and not wasted on ultimately futile schemes.
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Do cheer up Andrew. The time for your doom and gloom was before the present situation developed. We now need some of the true British spirit to get us through the next two years or so.
Things could have been a lot worse: imagine Cameron (The Shrew) in charge instead of Gordon Brown – the hero of the day in the opinion of very many, including EU members.
.
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It is sad that there is "grim" economic news!
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the govt repeatedly says there are 600,000 vacancies. In my local paper there are three adverts for escorts and one looking for people to act in adult movies. Are these the sort of jobs the govt is banking on?
Given a feed in tariff has proven to create hundreds of thousand of jobs, billions in income and lower fuel bills why is the uk one of the few governments to block bills that would bring in a feed in tariff?
Do we not need the jobs?
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I just love the way Piers 'air-miles' Morgan lectures us about climate change.
I don't need lecturing thanks very much the last time I got on a plane was in 1996 - and my 52 year old wife has never flown. How many hundreds of thousands of miles has Morgan flown?
And his juvenile, lap-doggy support for Gordon Brown was just embarrassing. Is he after an ermine robe and a seat next to Mandelson in the Upper House?
I really do not know why Morgan was on the show - as far as I am aware, his 'job' is as a judge on a talentless talent competition - hardly Cerebral Central is it?
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Dear Andrew,
With world stock markets continuing to fall,there seems to be a financial "Tsunami" on its way called,i think something SWAPS.
Figures of 50 Trillion pounds are mentioned (More than the world`s entire GDP !)
You have too many so called financial and political "experts" on your show who appear to talk down to ordinary people.
So is it possible you can get someone like "Alvin Hall"on your programme to explain this in SIMPLE terms,and why it is potentially disastrous for us all.
keep up the good work, tony "joe-public"
p.s. If chaos theory is right then the culprit for all our financial woes is an evil
Emperor "Ming" Butterfly flapping its wings in the Amazonian rain forest!
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If I go to http://www.bbc.co.uk/blogs/ why don't I find a link to this blog ?
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Dear Robbie Gibb
Why did i not get the following,
(Next week will be too late,we will have all been drowned financially! )
Hi tony
I agree with you. So we'll try and answer your questions on today's programme /or tonights` "this week" .
Robbie Gibb
Editor, Daily Politics
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I have started a blog at :
http://livejournalmehdifazal.blogspot.com
I am a small man, still less than hand to mouth - 18 years after John Major and Norman Lamont destroyed me.
You wrote a good deal about public works that he could have undertaken - you talked to a brick wall.
The effects in my person are here and alive today. In fact I stopped reading Newspapers regularly, and read them very occasionally since.
I have invited a couple of prominent people to help, but am looking for more like you to help. I am such an unknown git, that there is no likelihood of them hearing my say. I have however not been less ambititious nevertheless. The two invitations to help have gone to :
Paul Krugman the Nobel Peace Prize Winner
Randall Parker
Currently a Professor of Economics at East Carolina University in Greenville, NC.
Lets take a 30s style march to Downing Street, in todays technology, say an e-march to ask Gordon to work against conventional wisdom.
If they accept, can you take it forward with a meeting/conference paid for by somebody, becasue I dont have any such resource.
I am concerned about UNEMPLOYMENT
I think we need to stand behind Gordon Brown with solidity while he solves problems for us and the world.No-one has done better for our economy so far, and I am certain that he has the courage and new ideas to change the country and the world for the better and in favour of the poor of this world.
The purpose of my this post is to ask you personally to support this sentence in the petition.
Can others who are learned support this forum?
Petition start
UNEMPLOYMENT does not have to be
May I request that the Prime Minister rules in the Kenysian tools in this recession - so the the building industry remains in a sensible shape? Gordon Brown said he will do whatever it takes to deal with the financial system, but can we have that on this as well? Keyne was forsaken twice by this nation, in the 30s, and by John Major (No qulaifications beyond schooling - no university or historical perspective!) conservatives want to do it 3rd TIME, notice how all their speeches say how there was too much spent in the past so we have no reserves to spend in bad times, THIS IS CRAP and frightening to me as a qualified Economist. It is John Major once again. Can the Gordon who obtained a double first explain the bullshit in this thinking please?
Can others who are learned support this forum?
I lost 18 years of my prime life becasue of John Majors hammer to crack a nut approach, and I hope Gordon is given a chance to correct the wrong done then, so that the tools can be used to remove human misery in the future throughout the world.
Petition End
I am prepared for the petition to be worded by the likes of you.
Help.
Please.
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The Heart of America has no voice in the USA
**************** Independent voter pissed off at CNN ************************
As a registered Independent, a 45 year old small business’s man, born and raised in the very liberal state of Massachusetts for many years I had been a believer that CNN was a middle of the road “NEWS” organization. Coming into this election I was having a bit of a conflict in my heart over who would get my vote for the next President of the good old USA. Hilary, or McCain. Standing by both, but not voting threw the primaries; I could hardly believe my eye as CNN decided to endorse Obama over Hilary with such terrible bias new coverage. Since Obama, and McCain have won their Primaries its even more disheartening to see how CNN had and has 100% committed to Fluff’in up Obama, and Flucken over the American people. For the past few months I’ve been screaming at my TV every night. Watching CNN railroad Senator McCain, and all the while trying to force the decision that Barack Obama is the next President of the United States.
It’s obvious to me now, that all these years I’ve had the wool pulled over my eye’s... I’ve been duped by CNN. Their nothing better than a “far left Liberal political organization” There’s nothing worse than finding out you’ve been taken by someone. It just make’s your blood boil. Makes you want to fight back some how.
My reaction to CNN’s far left Liberal tricks on me, and America has been to number one; “Change the channel” Secondly and most importantly thing I’ve decided to do about my problem CNN’s indorsement of Obama is to fight for John McCain. I’ve never been political active up until now. We can’t let CNN, and the far left liberals catch us sleeping at the wheel here. So personally I’ve decided to contribute, and wage a personal campaign to help elect Senator John McCain as the next President of the United States. John and America needs “us Independents” more than ever. We can’t let CNN, and Obama’s 6-1 spending spree railroad John McCain. He’s fought, and battled for us his whole life. He’s paid his due’s fighting for us a 1000 fold. It’s time for us to pony up, and battle for him, with him. Send him some money to battle with. Stand up, and let him know “us Independents” are with him. He will win! If we give him the weapons to work with, he will win if we vote!
If you’re a Independent, or Moderate Democrat. Please take some steps towards avoiding this train wreck Obama that’s speeding towards us. Please pass this message on.
********************** FLASH *****************************
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***************** Land slide Victory predicted for McCain ********************
**************** Land slide Victory predicted for McCain ********************
**************** Land slide Victory predicted for McCain ********************
**************** Land slide Victory predicted for McCain ********************
Barack Obama .com “Bubble” about to burst!
I voiced my opinion on a very Liberal Talk radio Station in Massachusetts this morning called “ Finneran’s Form” As an Independent Voter in Massachusetts, I talked about what a special gift Barack Obama has. His is ability to paint a beautiful this picture of the future in our minds, of Camelot. He’s better than all the rest before him. He’s able to draw crowds as if he were a Rock Star. Problem is these are mostly young American’s that are easily influence by this special motivational gift Obama has. I went on to say, that I believe we are at a pivotal moment. The decisions that are made by our next President will have more impact on our economy than any other President has had in a very long time.
I also mentioned that 20 years ago we here in Massachusetts know first hand how much damage a far left liberal can do with a "Spread the Wealth" program in a Democratically controlled House and Senate.
The good people of Massachusetts are beginning to see the light too. The “Bubble” of Barack Obama is about to burst.
**************** Land slide Victory predicted for McCain ********************
Happy Day America, our future is looking up.
**************** Independent voter pissed off at CNN ************************
As a registered Independent, a 45 year old small business’s man, born and raised in the very liberal state of Massachusetts for many years I had been a believer that CNN was a middle of the road “NEWS” organization. Coming into this election I was having a bit of a conflict in my heart over who would get my vote for the next President of the good old USA. Hilary, or McCain. Standing by both, but not voting threw the primaries; I could hardly believe my eye as CNN decided to endorse Obama over Hilary with such terrible bias new coverage. Since Obama, and McCain have won their Primaries its even more disheartening to see how CNN had and has 100% committed to Fluff’in up Obama, and Flucken over the American people. For the past few months I’ve been screaming at my TV every night. Watching CNN railroad Senator McCain, and all the while trying to force the decision that Barack Obama is the next President of the United States.
It’s obvious to me now, that all these years I’ve had the wool pulled over my eye’s... I’ve been duped by CNN. Their nothing better than a “far left Liberal political organization” There’s nothing worse than finding out you’ve been taken by someone. It just make’s your blood boil. Makes you want to fight back some how.
My reaction to CNN’s far left Liberal tricks on me, and America has been to number one; “Change the channel” Secondly and most importantly thing I’ve decided to do about my problem CNN’s indorsement of Obama is to fight for John McCain. I’ve never been political active up until now. We can’t let CNN, and the far left liberals catch us sleeping at the wheel here. So personally I’ve decided to contribute, and wage a personal campaign to help elect Senator John McCain as the next President of the United States. John and America needs “us Independents” more than ever. We can’t let CNN, and Obama’s 6-1 spending spree railroad John McCain. He’s fought, and battled for us his whole life. He’s paid his due’s fighting for us a 1000 fold. It’s time for us to pony up, and battle for him, with him. Send him some money to battle with. Stand up, and let him know “us Independents” are with him. He will win! If we give him the weapons to work with, he will win if we vote!
If you’re a Independent, or Moderate Democrat. Please take some steps towards avoiding this train wreck Obama that’s speeding towards us. Please pass this message on.
*********************** Sell Sell Sell! ****************************
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*********************** Sell Sell Sell! ****************************
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************ American people beginning to see its all been Fluff **************
************ American people beginning to see its all been Fluff **************
************ American people beginning to see its all been Fluff **************
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************ American people beginning to see its all been Fluff **************
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************ American people beginning to see its all been Fluff **************
************ American people beginning to see its all been Fluff **************
************ American people beginning to see its all been Fluff **************
************ American people beginning to see its all been Fluff **************
************ American people beginning to see its all been Fluff **************
************ American people beginning to see its all been Fluff **************
************ American people beginning to see its all been Fluff **************
************ American people beginning to see its all been Fluff **************
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******************* Obama’s Been Fluff’in **********************
us.
Barack Obama... Secret weapon for the far left? Government Obama’s, Spread the Wealth Tax Plan,
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My gift to John McCain is this terrible story. A terrible true story of a "Spread the Wealth" tax program. A true story from the past.
I'm an 45 year old, small business owner, and registered Independent living in the state of Massachusetts. As you know Massachusetts being a very left leaning liberal state, seems to vote Democratic no matter who the Presidential candidate is. Even an unproven gamble, and far to the left liberal such as Obama will most likely win here. We seem to forget the last time we elected a "Spread the Wealth" guy in this state. It was almost 20 years ago… Its no coincidence that it's taken us 20 years for in this state forget what had happened back then. Can you believe 20 years since the liberal state of Massachusetts has elected a Democratic Governor here.... Why you may ask? We had made the grave error of electing a "Spread the Wealth" far left Liberal 20 years ago. I haven't forgotten, it seems many here have, 20 years is a long time. The voters of the most Liberal state in the country had sentenced the Massachusetts Democrat House to 20 years of hard time, for the high crimes of Governor Michael Stanley Dukakis's "Spread the Wealth" tax programs. We had 4 Republican Governors in a row before we could forget, and fix what he had done here. The State of Massachusetts had 4 Republican Governors after Governor Michael Dukakis's "Spread the Wealth" tax program had turned this state into the worst welfare experiment ever. Social program's food stamps and welfare for all. Don't want to work? No problem in Massachusetts back then… It was a "Govermant Obama" Camolot The tax payers here were being overwhelmed with welfare programs, and other "Redistribution" tactics. Business fleeing the state as if we had the plague. Jobs lost for ever, and unemployment out of control, and tax's tax's and more tax's for all who wanted to work for a living. The harder you worked the more you got to pay. Wow! If only Obama could have been there to see his dream for the country running in Massachusetts.
One Michael Stanley Dukakis's with a "Spread the Wealth policy" pluse one Democratically controlled House equaled 20 years, and 4 Republican Governors to fix what they had done here.
Have you seen Mike Dukakis lately? I did, he's been chumming around with Barack Obama at his rallies.
What a party they must be planning. One Democratically Controlled House & Senate. Plus one Far left Liberal with a "Spread the Wealth" tax program's What a sad day for the working people of this country, Poor Joe the Plumber, you've got a long road ahead to pay for this one Joe. Stop this party before it too late, we can’t afford it! John McCain will hold the front lines on this battle;
John McCain's has earned this Job. It’s his time to lead. We need his grit, his fight on these problems that face our Economy today. He’s not going to give away the Farm, as Obama will with a Democratically controlled House & Senate. We know what John will do. We’ve had many years to judge the Characters, and Integrity of this man. He’s paid his due’s fighting for us a 1000 fold. It’s time for us to pony up, and battle for him, with him. Send him to hold the front lines for us in this fight for our economic well being. Stand up, and let him know “us Independents” are with him. He will win! If we give him the weapons to work with, and all of us will win by voting in John McMcain as the next President of the greatest country on earth.
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My gift to Hilary Clinton & John McCain is this terrible story. A terrible true story of a "Spread the Wealth" tax program. A true story from the past.
I'm an 45 year old, small business owner, and registered Independent living in the state of Massachusetts. As you know Massachusetts being a very left leaning liberal state, seems to vote Democratic no matter who the Presidential candidate is. Even an unproven gamble, and far to the left liberal such as Obama will most likely win here. We seem to forget the last time we elected a "Spread the Wealth" guy in this state. It was almost 20 years ago… Its no coincidence that it's taken us 20 years for in this state forget what had happened back then. Can you believe 20 years since the liberal state of Massachusetts has elected a Democratic Governor here.... Why you may ask? We had made the grave error of electing a "Spread the Wealth" far left Liberal 20 years ago. I haven't forgotten, it seems many here have, 20 years is a long time. The voters of the most Liberal state in the country had sentenced the Massachusetts Democrat House to 20 years of hard time, for the high crimes of Governor Michael Stanley Dukakis's "Spread the Wealth" tax programs. We had 4 Republican Governors in a row before we could forget, and fix what he had done here. The State of Massachusetts had 4 Republican Governors after Governor Michael Dukakis's "Spread the Wealth" tax program had turned this state into the worst welfare experiment ever. Social program's food stamps and welfare for all. Don't want to work? No problem in Massachusetts back then… It was a "Govermant Obama" Camolot The tax payers here were being overwhelmed with welfare programs, and other "Redistribution" tactics. Business fleeing the state as if we had the plague. Jobs lost for ever, and unemployment out of control, and tax's tax's and more tax's for all who wanted to work for a living. The harder you worked the more you got to pay. Wow! If only Obama could have been there to see his dream for the country running in Massachusetts.
One Michael Stanley Dukakis's with a "Spread the Wealth policy" pluse one Democratically controlled House equaled 20 years, and 4 Republican Governors to fix what they had done here.
Have you seen Mike Dukakis lately? I did, he's been chumming around with Barack Obama at his rallies.
What a party they must be planning. One Democratically Controlled House & Senate. Plus one Far left Liberal with a "Spread the Wealth" tax program's What a sad day for the working people of this country, Poor Joe the Plumber, you've got a long road ahead to pay for this one Joe. Stop this party before it too late, we can’t afford it! John McCain will hold the front lines on this battle;
We can give Hilary Clinton an even chance in the next election. As long as we don’t let “that one” do what the “other one” had done. It could be 30 to 50 years before we forget what “that one” and the “other ones” did to our economy.
John McCain's has earned this Job. It’s his time to lead. We need his grit, his fight on these problems that face our Economy today. He’s not going to give away the Farm, as Obama will with a Democratically controlled House & Senate. We know what John will do. We’ve had many years to judge the Characters, and Integrity of this man. He’s paid his due’s fighting for us a 1000 fold. It’s time for us to pony up, and battle for him, with him. Send him to hold the front lines for us in this fight for our economic well being. Stand up, and let him know “us Independents” and Moderates are with him. All of America will win, If we give him the weapons to work with, and all All Americans will win by voting in John McMcain as the next President of the United States.
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