# Was Alasdair Darling right ?



## z106 (2 Sep 2008)

Was Alastair darling correct in coming out over teh weekend and saying that the UK economy is in its biggest trouble since teh war?

He has defended it by saying that he had an obligation to tell the truth.

Personally I think he was wrong - the reason being that sentiment/confidence in the economy counts for a lot.

I am definitely not saying he shoudl have lied.
He could have phrased it differently though.

I don't think there is any great advantage in sending the country into a panic.


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## starlite68 (2 Sep 2008)

qwertyuiop said:


> I don't think there is any great advantage in sending the country into a panic.


 but also no great advantage in sticking your head in the sand and pretending everything is fine!


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## ubiquitous (2 Sep 2008)

qwertyuiop said:


> Personally I think he was wrong - the reason being that sentiment/confidence in the economy counts for a lot.



UK economic sentiment is already on the floor.


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## z106 (2 Sep 2008)

starlite68 said:


> but also no great advantage in sticking your head in the sand and pretending everything is fine!


 
I'm not suggesting he should have done that.

What I am saying is his phrasing of it was questionable to say the least.


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## z106 (2 Sep 2008)

ubiquitous said:


> UK economic sentiment is already on the floor.


 
In that case it's probably in the basement now due to his comments.

His comments have largely contributed to sterlings performance over the last couple of days.


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## groom (2 Sep 2008)

qwertyuiop said:


> In that case it's probably in the basement now due to his comments.
> 
> His comments have largely contributed to sterlings performance over the last couple of days.



Which will probably help UK exports so the man's probably a genius


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## Sunny (2 Sep 2008)

groom said:


> Which will probably help UK exports so the man's probably a genius


 
Judging by todays move on stamp duty, I don't think he is genius! Political grandstanding that our own government is sure to follow


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## Howitzer (2 Sep 2008)

I know a number of people in the UK from the 2 areas which have been worst affected over the course of this year - retail wholesalers and investment bankers. They've been walking around in a daze for the last 8 months. They were actually in a better mood this week following these comments than they had been before. Reason: it was a recognition of the seriousness of the situation. Misery loves company and nothing makes you feel better about your financial position than knowing everyone else is in the same boat.

It's only once you recognise that you've got a problem that you can start providing solutions.


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## Kemo_Sabe (2 Sep 2008)

starlite68 said:


> but also no great advantage in sticking your head in the sand and pretending everything is fine!


 
Thank God none of our fine politicans would ever indulge in such behaviour

why, they are so confident in the fundamentals of this great economy that they can disappear happily on three month holidays!


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## ccbkd (2 Sep 2008)

Kemo_Sabe said:


> Thank God none of our fine politicans would ever indulge in such behaviour
> 
> why, they are so confident in the fundamentals of this great economy that they can disappear happily on three month holidays!


 
Don't worry Mary Coughlan will put it all right, afterall she singlehandly brought inflation down last month!


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## Raskolnikov (2 Sep 2008)

Two things have driven growth in the UK in the last few years, construction and financial services. Both sectors are now crumbling.

http://www.independent.co.uk/news/b...r-fresh-round-of-banking-job-cuts-915840.html

Only today, 1,500 people earning good money are fearing for their jobs. That's nearly akin to the likes of Intel or Dell cutting operations in half.


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