Who do you blame for the recession that the Uk is now entering?
June 30th, 2010 by
and could we have done something earlier to stop this happening?
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You. You spend all your money on Chinese imports instead of on British goods. You should buy them, even if they are overpriced or don’t work.
The government.
I blame the United States. Their economic decisions have affected everyone.
The only reason Canada is in a recession, is because of the USA.
EDIT!!!!
The USA should stop spending billions of dollars they don’t have!!!
The USA should never have gotten off the gold system they had before.
These two things could have made them wealthy.
Now the world is looking at a pathetic nation who is rapidly running down hill.
America .
and their selfish businessmen .
Haha, how did I know you tools would blame the United States?
If you had your acts together you would have made money by being there to lend the US money. (some companies did)
Time it is just something that had to happen.
Ummm, your premise is incorrect. It is the WORLD, not just the UK.
And you ca blame the Americans this time… Other recessions have had other sources, but these days anybody bigger than Iceland having a struggle will mean we all do.. This global economy has us all linked, from the merchant in Marrakesh to the farmer in East Timor, and we basically live on the same ship.
If you don’t want to believe that, then do this little exercise. Get three of your associates together, and catalog the countries of manufacture of the clothing you are wearing and the personal items you are carrying. Likely you will be able to list 25-40 countries.
Gordon Brown. Without fail guys. He was the puppet master who control the purse strings, while this spokesman Tony Blair, was off charming the world.
Few years back an expat brit was telling me how rich he was He told me how much his home was worth in London I asked ”just how many people can afford to buy that home” his answer was everyone wants to live in London O K why do you live in this country and not London? I blame this mind set
basically greed and “legal” stock market and loan manipulation +£$1 000 000+thefts of investors money by CEO’s awarding them selves pocket picking rights(sorry performance bonusus)
.
most emanating from the USA and most of the main players are ~well check the names of the ones awaiting trial
hope this helps
It is a natural progression. After such a long period of prosperity there will be a recession.
I see where some respondents are blaming the US. Everyone is partly responsible, when people are doing well they buy, buy, buy, even if they cannot afford it. Common sense tells you that this is not sustainable.
to many big wigs getting big salary’s the government for not clamping down on high fuel prices and energy costs high intake of
immigrants and to many taxes eating up our salary’s
personally, id say a combination caused it. Greedy fat cats in financial sector, particularly in usa, but also worldwide. Gordon browns terrible money management, and the world in general not forward planning properly. I think to have prevented it, wall street and financial institutions worldwide needed to be monitored better, gordon brown should have saved money for a rainy day instead of spending money on rubbish we didnt need, and people in general shouldnt have been allowed to live above their means.
immigrants have been maxing as many credit cards as they can get on false ID for years. they have been running with the money buying a new ID and doing it all over again. the labour party are idiots. they have allowed the country to be scammed on a colossal level. for years the banks were able to offset the losses with huge bank charges but even so! they just collapsed under the onslaught…..a simple max on a couple of credit cards can buy a house outright in eastern europe. even a child could have seen trouble coming. but not the labour party.
The Bankers. the government. And the idiots
Labour – Their duty is to govern efficiently, however being Labour their priority was themselves. So they did everything the could to create a large base of voters.
Now things are screwed up and they’re trying to think of ways to blame the Tories, because the resources aren’t there to cure Labour’s mistakes.
Preventions better than the…?
For the UK squarely with the government for the majority of the problem.
Trying to borrow your way out of a recession is like trying to ‘eat yourself slim’.
Yes some financial institutions have a can to carry and individuals within those organisations made ‘corporate decisions’ that were plainly stupid and greedy but the government set up the regulatory system and kept telling everyone there was no problem.
Even when it was clear we were heading into a major downturn Brown and Darling kept telling people it wouldn’t affect us as badly, we were better placed and less exposed than many, that our balance sheet was stronger etc.
All these have been exposed as hype and nonsense and the reaction to the situation is half baked and ham fisted.
We are lurching from one crisis to another and when we start to come out of this recession there will be 4 or 5 million unemployed and raging inflation to deal with. Not least will be a massive devaluation of the pound. By 2012 interest rates will be around 10% again.