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[quote][i]Originally posted by Ian[/i] [quote][i]Originally posted by MoesTavern[/i] It's arguable the result would have been the same whoever was in power. Yet the Tories used it (and are still using it) as evidence of labour's financial mismanagement. [/quote] Its also arguable that they had overspent prior to the shit really going down, hence having exposed the country to debt they were unable to grow out of it. I don't think for one minute anyone is suggesting they caused it, but its a question of being in a position to foresee or in the very least, make steps to mitigate market conditions. Similar analogy to buying a big house and being mortgaged up so you're right on the limit of your affordability. That's fine if the house is going to go up in price, your LTV when you re-mortgage after your fixed period will be better, you'll get a better rate and your payments are going down and all the time you've got a house which is worth more. So it kind of looks sound. Until interest rates go up in the middle of it and you're fucked.* * btw I'm not indicating the interest rates or mortgage rates or house prices have anything to do with it. Its a question of exposure for me. You over-spend prior to a crash going on, you're exposed to said crash. That is their fault. [/quote]
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