What is causing the the British economys "worst downturn in 60 years"?

Question

For someone with very little knowlege of economic terms, can someone please explain in the simplest of words what is casuing the problems.

Answer 1

Incompetence by a person named Gordon Brown!Helped by Alistair Darling!

The Labour Party will hide behind the saying !It is caused by World Events.But economists know that there has been repeated warnings over the years and Brown should have put money away for a 'rainy day'!

When they(Labour) say;We have made mistakes!What they are really saying is!Gordon Brown has made all the mistakes;But being the frightened sheep they are;Would be frightened to say so!

The question I ask is!What stranglehold has Gordon Brown got over the Labour Party?Surely they must know they just do not have a chance with that fool in charge?

Answer 2

Spineless politicians(Labour party)

Answer 3

1. The Iraq war.

2. Greedy speculators who do not care about anybody but themselves, buying up all the reserves of oil.

3. Those other speculators who have bought up 2nd homes and TV programmes who tell you how to make money from snatching away cheap homes from first time buyers. Doing a little work on them and then putting them back on the market where youngsters and first time buyers cannot afford. Or some will put themselves into so much debt, so they cannot afford to buy anything in the ecomony. Without money circulating in any economy, the economic climate just gets worse.

4. Britains gamblers ooops! I mean stockbrokers (thats what they are called now-a-day). If they actually did a fair days work for a fair days pay..... Britain would be booming.

Way out of this mess?

Raise the personal allowance on income tax to around £15,000p

Raise top rates of tax to 45% on £100,000,  50% on £250,000 and 55% on £500,000 and above.

The way to make things worse? PANIC or vote our friend (I can fix everything and agree with you) Dave & Co. into government.

Answer 4

It's caused by a totally incompetent idiot by the name of Gordon Brown and his co-horts that call themselves the government of the UK.

Answer 5

too many people were allowed credit in the past, now they cant afford to repay it.

Answer 6

For a Long time now the financial imbalance between rich and poor has been growing.The effects of this has been put off by the poorer people borrowing money.The borrowing has dried up so more people every day are falling into poverty.

Answer 7

Oil

Answer 8

It does not just apply to Britain, it is global and is prophecied in Revelation 'Do not harm the olive oil and the wine'.....four horsemen of the apocolypse....those that are awake will know....those that are asleep need to awake.....

Answer 9

Decode this lyrics " My way"

Look in the real world.

With cheap-skate glory on success of self Independence.

In kicking the butts of God in not worshiping God without God's guidance in time.

But idol worshiping the dead Mummy of failures and hoors of the past from the twilight zone in guiding in time.

Luke 8.5-8,10-17

Luke 46-52

Luke 6.39-40,41-45,46-49

What do you think?

Answer 10

Illegal immigrants

~ overpopulation will be the plague of the 21st century ~

Answer 11

The liberal socialists that are running England.

Answer 12

They say that nothing happens  by chance in the world of politics, the powerbrokers who control the world's purse strings will never be short of money and they decree that things will get worse to bring countries into line who are rebellious, one world government is the goal and things will stay as they are until all countries toe the line.

You think this is all make believe?  check out the origins and designs of the European Union which is based on the designs of the n**i 's for Europe, check out the Bilderbirg party and the trilateral commission.

Answer 13

You will have to ask the ex-Chancellor, Gordon Brown, if you can find him that is - tends to go missing when things are a bit difficult.

Answer 14

new labours very existence!!..... labours open border policy and the abuse of it that followed has cost the country billions and billions. and is continuing to drag at the economy. couple that with the two wars that labour have gotten us into, they have encouraged house prices to go completely out of control,  they have done nothing during the good times to bolster the country,+ the disgusting waste on quango's and wasted billions on dodgy 'self serving' contracts........none of this will go until labour is removed from power. they are the most socially destructive political party we have ever had in power.

Answer 15

This has been building up for years. It is because the financial world has been living off credit and bad loans just to satisfy the mantra of permanent growth. The sad thing is that one cannot have permanent growth with finite resources, any attempt to borrow ones way out of trouble is doomed to failure. The US market was so greedy for money they loaned money to any and all bad debts, such as mortgages to people who did not have a hope in h**l of being able to repay.

It is also because of the legacy of the Thatcher/Reagan years, when privatisation and loans to people already filthy rich caused a hemorrhage of money to offshore accounts where it could not be taxed and used to pay the countries running costs.

Answer 16

High cost of oil weak dollar Everything is sold in U S dollars oil Air bus

The cost of oil is coming down and the dollar is getting stronger

Just as an aside last year every one over the pond, thought that it was very funny that the dollar was weak Not so funny any more Right