Alistair Darling on US downgrade, and G20 economies (08Aug11)

Labour's ex-chancellor Alistair Darling talks about the US credit downgrade, the European deficit problems, and the UK economy.

He says the UK needs growth to get the economy moving. Two factors though, with the state being SO large and growing. How is the private sector to generate money to get growth, when their profit is eaten up by the public sector? If other countries have stopped importing, how is the UK going to export anything?

Well, with these kind of unanswered questions, what do you expect from a man with no maths degree, but one is the useless subject of law.

The facts are plain to see, the financial crisis was engineered by G20 bankers and politicians, next to no other country has banking problems in the world, just the greedy G20 who thought up of new ways to steal money, but cover them up as AAA risks.

Recorded from BBC Breakfast, 08 August 2011.

Category:

News & Politics

Tags:

• alistair
• darling
• ex
• chancellor
• labour
• us
• credit
• worthiness
• downgrade
• downgraded
• europe
• eu
• eurozone
• mickey
• mouse
• euro
• currency
• collapse
• bail
• out
• bailouts
• g20
• economy
• econiomies
• uk
• growth
• export
• import
• bbc
• breakfast
• 08
• august
• 2011

[ukipwarrior]

React quickly to Darling equates to print money to paper over debts & bailout my friends in the city so they can keep their ferraris. What a fool i wish he would shave his eyebrows off.

[mkpdavies]

Taxation kills economies and growth. Cut it and watch it come back again.

[sinclair61]

@ciaran3707 lol

[ciaran3707]

@sinclair61 Quantitative cheesing?

[sinclair61]

The NWO message for world government, alive and well, as a result of the problem reaction Solution strategy. drop dead darling.

[sinclair61]

Print more pasta.

[sinclair61]

Parmesan? Or  Prosciuto ham.

[mrfcukdevil]

CUT TAXES...NOT JUST FOR the top people ie the 50p tax rate but for every one.. Ie for the middle class. Reduce corporation tax for manufacturing companies so that it compensates for the higher wages in Britian and and thus allow more people back into economy to increase demand and growth. Cut defense and unemployment benefits for the healthy spending almost to nothing to compensate for the tax cut.

[MrJrock331]

He's using the example of the USA's weak growth to support an argument for more government spending? Is he living on a different planet, the USA has not cut yet and is pumping money - both borrowed and 'printed - into the economy through a so called stimulus package.

What utter crap - 'oh i have a good idea, a stimulus package has increased debt but failed to encourage growth in America, better do the same here'