Economic woes

GEORGE Osborne’s election pledge to eliminate the deficit by the end of this Parliament has proven to be wishful thinking. Despite all the cuts and pain caused by his ongoing austerity measures the deficit is still with us. This is hardly surprising as history informs us that Tory chancellors are good at causing recession and rubbish at reducing deficits.

Readers will remember the three home-grown recessions of previous Tory governments, and the now infamous Black Wednesday where the then Tory chancellor Norman Lamont increased interest rates to an eye watering 15 per cent, destroying the economy condemning millions to the dole queue, while pushing many home owners into negative equity, Mr Lamont called it a price worth paying. Clearly Osborne has learnt nothing from his predecessor’s mistakes, or the global financial crash. A crash that started in the U.S subprime mortgage markets and led to the fall of huge American financial institutions, Fannie Mae, Freddie Mac and Lehman brothers, resulting in a global credit crunch. We now have an economy built on low wages, cheap money and a housing bubble fuelled with millions of pounds of taxpayers’ money. Osborne’s so called recovery is a house of cards built on huge personal and government debt, which will tumble as soon as interest rates rise, as they surely will.

Cllr Nigel Dix Montclaire Avenue Blackwood

Comments (9)

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2:56pm Thu 22 May 14

Good Job No Kids says...

So where would we be if Balls had been allowed to continue after browns disastrous tenure?

It's one thing to criticise, but to criticise with no credible alternative is just laughable.

Are you proud of what labour has "achieved" in Wales?
So where would we be if Balls had been allowed to continue after browns disastrous tenure? It's one thing to criticise, but to criticise with no credible alternative is just laughable. Are you proud of what labour has "achieved" in Wales? Good Job No Kids
  • Score: 12

3:11pm Thu 22 May 14

landyman3030 says...

Nigel, Nigel, Nigel...what an amazing phenomenon. A local government representative whose has promised to do the best by his constituents who has got an amazing memory for Tory failures but such a short one for The Labour Party. Let me remind you shall i.....?
Who was the long standing, established party who was running the whole sticky mess that is politics when the financial walls came tumbling down around Sodom and Gomorrah? Old teflon himself Mr. Blair. He of the spurious Middle East connections. And who was in charge if the FSA who should have been monitoring ALL of the banks lending practices to punters and each other when the public was led by them into believing the fairytales like you don't need an income to get a mortgage, you can use your benefits to pay us. Oh yes it was that stalwart of modern finance, Mr. Brown. He of the dour, serious look that led us to believe he would be stern with any wrongdoers when in fact he and his beloved FSA didn't understand what the Banks were doing. So they let it continue and even encouraged it because the bubble would never dare burst under Labour would it.
Amazing how with one letter a respected person can show himself to be as shallow and one sided as the rest. Cheap shot backfired methinks Nige old boy....and i'm voting labour. How sad is that?
Nigel, Nigel, Nigel...what an amazing phenomenon. A local government representative whose has promised to do the best by his constituents who has got an amazing memory for Tory failures but such a short one for The Labour Party. Let me remind you shall i.....? Who was the long standing, established party who was running the whole sticky mess that is politics when the financial walls came tumbling down around Sodom and Gomorrah? Old teflon himself Mr. Blair. He of the spurious Middle East connections. And who was in charge if the FSA who should have been monitoring ALL of the banks lending practices to punters and each other when the public was led by them into believing the fairytales like you don't need an income to get a mortgage, you can use your benefits to pay us. Oh yes it was that stalwart of modern finance, Mr. Brown. He of the dour, serious look that led us to believe he would be stern with any wrongdoers when in fact he and his beloved FSA didn't understand what the Banks were doing. So they let it continue and even encouraged it because the bubble would never dare burst under Labour would it. Amazing how with one letter a respected person can show himself to be as shallow and one sided as the rest. Cheap shot backfired methinks Nige old boy....and i'm voting labour. How sad is that? landyman3030
  • Score: 11

3:22pm Thu 22 May 14

-trigg- says...

Is this a Labour councillor attempting to ridicule a Tory chancellor for failing to repay the debt run up by the previous Labour administration?

Labour squandered the economic position they found themselves in, choosing to spend profligately on the nation;'s credit card, rather than save for the inevitable rainy day.

Its true that Osborne hasn't managed to clear the deficit but at least the situation has moved on from "the money's all gone" to "There's a light at the end of the tunnel".
Is this a Labour councillor attempting to ridicule a Tory chancellor for failing to repay the debt run up by the previous Labour administration? Labour squandered the economic position they found themselves in, choosing to spend profligately on the nation;'s credit card, rather than save for the inevitable rainy day. Its true that Osborne hasn't managed to clear the deficit but at least the situation has moved on from "the money's all gone" to "There's a light at the end of the tunnel". -trigg-
  • Score: 10

3:26pm Thu 22 May 14

landyman3030 says...

Here it comes........wait for it...........coming soon i promise........
A lesson in defending the indefensible by Nigel and his minions.
Looking forward to this more than Emmerdale........
Here it comes........wait for it...........coming soon i promise........ A lesson in defending the indefensible by Nigel and his minions. Looking forward to this more than Emmerdale........ landyman3030
  • Score: 10

9:38pm Thu 22 May 14

landyman3030 says...

landyman3030 wrote:
Here it comes........wait for it...........coming soon i promise........
A lesson in defending the indefensible by Nigel and his minions.
Looking forward to this more than Emmerdale........
As my daughter would say...OMG!!!!!
No response or reply yet from New Labour.
Perhaps they've finally learnt that, as my old mate Tom used to say, " you can polish a turd all you want but at the end of the day, it's still a turd."
[quote][p][bold]landyman3030[/bold] wrote: Here it comes........wait for it...........coming soon i promise........ A lesson in defending the indefensible by Nigel and his minions. Looking forward to this more than Emmerdale........[/p][/quote]As my daughter would say...OMG!!!!! No response or reply yet from New Labour. Perhaps they've finally learnt that, as my old mate Tom used to say, " you can polish a turd all you want but at the end of the day, it's still a turd." landyman3030
  • Score: 9

10:58pm Thu 22 May 14

Llanmartinangel says...

Labour increased 140 taxes and still left us in debt. And the one tax they are still in charge of in Wales they are still increasing by three times inflation. The brass neck of Cllr Dix has no limit.
Labour increased 140 taxes and still left us in debt. And the one tax they are still in charge of in Wales they are still increasing by three times inflation. The brass neck of Cllr Dix has no limit. Llanmartinangel
  • Score: 10

9:03am Sat 24 May 14

tebes says...

As already commented, it's funny that Nige always forgets about old Bliar/Gordon and the mess that they left us in. Labour have had the majority of years in control in the Bay of Pigs for the last 15 years and the Education and Health services have become a disaster. What comments on this performance Nige?

Steve
As already commented, it's funny that Nige always forgets about old Bliar/Gordon and the mess that they left us in. Labour have had the majority of years in control in the Bay of Pigs for the last 15 years and the Education and Health services have become a disaster. What comments on this performance Nige? Steve tebes
  • Score: 6

7:07pm Mon 26 May 14

varteg1 says...

Good Job No Kids wrote:
So where would we be if Balls had been allowed to continue after browns disastrous tenure?

It's one thing to criticise, but to criticise with no credible alternative is just laughable.

Are you proud of what labour has "achieved" in Wales?
Are you proud of what labour has "achieved" in Wales?


Can one be proud of NOTHING?
[quote][p][bold]Good Job No Kids[/bold] wrote: So where would we be if Balls had been allowed to continue after browns disastrous tenure? It's one thing to criticise, but to criticise with no credible alternative is just laughable. Are you proud of what labour has "achieved" in Wales?[/p][/quote]Are you proud of what labour has "achieved" in Wales? Can one be proud of NOTHING? varteg1
  • Score: 1

9:11pm Tue 27 May 14

theviking666 says...

From the Caerphilly Observer Blackwood councillor Nigel Dix said having the free car parking at Hanbury Road and Cardiff Road was unfair to other motorists in other town centres in the county borough.

Cllr Dix, a Labour councillor, said in 2012/13, Caerphilly town car park generated £184,000 in revenue, Ystrad Mynach generated £45,500 and car parks in Blackwood generated £555,274. In total, car parking charges generated £836,000 in revenue for the council.

He added: “Every town should be contributing to the cost of the council. It is disproportionate and scandalous.

“It needs to be rectified and I am going to fight until it is sorted out.”

Cllr Dix said he had raised the issue with council officers and with Labour colleague Cllr Tom Williams, Cabinet Member for Transportation and Highways. Get the car park charges sorted first, that could be a good.
From the Caerphilly Observer Blackwood councillor Nigel Dix said having the free car parking at Hanbury Road and Cardiff Road was unfair to other motorists in other town centres in the county borough. Cllr Dix, a Labour councillor, said in 2012/13, Caerphilly town car park generated £184,000 in revenue, Ystrad Mynach generated £45,500 and car parks in Blackwood generated £555,274. In total, car parking charges generated £836,000 in revenue for the council. He added: “Every town should be contributing to the cost of the council. It is disproportionate and scandalous. “It needs to be rectified and I am going to fight until it is sorted out.” Cllr Dix said he had raised the issue with council officers and with Labour colleague Cllr Tom Williams, Cabinet Member for Transportation and Highways. Get the car park charges sorted first, that could be a good. theviking666
  • Score: 2

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