Being cocooned in a conference centre, it's not easy to monitor what is going on in the outside world. I don't know if Gordon Brown has spoken yet about the economic crisis. But I have just seen David Cameron make an unscheduled speech here in Birmingham, which was really meant for the audience outside rather than the one in the hall.
I watched it in the exhibition hall and everyone stopped what they were doing to listen. There was an eerie silence and it was almost like the family gathering round the wireless to listen to a wartime address by Churchill. Cameron struck exactly the right, reassuring, note.
He gave a warning to the banking community that there would have to be a day of reckoning but today was not that day. He offered the government the full support of the Opposition in passing the necessary legislation to help the country through the crisis. He said that tomorrow in his speech he would outline a full policy response. He even hinted - unless I misunderstood him - that a form of national government might be necessary.
We are entering a new world, both economically and politically. Many mettles will be tested.
82 comments:
Brown made some comments yesterday with did strike a good note. As much as I can't bear Brown and this government, he and Darling do seem to be making some bold decisions.
Yup - bit biased tho but came across as mature which is brilliant. He suffers from the same burden that I do - look 10 years younger than we are - honestly Iain - it can be a problem. Good job, well done.
I thought a bit flat
and standing ovation was not in all parts of the hall ???
dont they know were on TV
His attacks on the City went to far
we dont want to lose the City backers
Don't think Churchill got a standing ovation for "Fight them on the beaches".
Cameron was good and reassuring. Also trustworthy.
Was wondering about a government of national unity last night.
The fun is negotiating the cabinet posts. We would have to have the Chancellor of the Exchequer.
But given that Brown can't cooperate with the cabinet he's chosen - how could he ever operate one with Conservatives in it ?
Perhaps this is really a signal to other members of Brown's cabinet about a coup ?
Liked it a lot.
Wondered if he had already been getting short term weasling from the goblin king on the phone, and this is in part necessary to try to get GB to play straight.
As someone else has posted
why the attacks on the City
this is not playing well
the last thing we need is more regulation as Boris said on Sunday
who was the women who introduced him ? she was great
Hogwash Iain. Fluent and clear, yes. But mostly clearly fluent fatuous feelgood quackery with no specifics, barring stopping pissing about with politics when the House returns next week.
"So weak!", as Ed Balls might say.
Churchill war time radio address
didnt Churchill lose the next election ?
PS That was no woman, that was his wife*
* Ancient "joke"
How tedious it is watching the politicians all scrambling to look as if they
a) know what is going on;
b) know what is to be done.
And yet, Something Must Be Done. The markets will not survive. Let no event go unexploited by our photo opportunity-chasing political class!
A good speech which showed Cameron to have some substance.
And Chris Paul seems to have missed the specific proposals on early legislation - which were offered to Brown in July.
Cameron was right to criticise the bankers. He was also right to say that financial services are an important industry for us.
Unfortunately Cameron is destined for the political wilderness in Scotland with the path he has chosen.
Threatening not to work with the democratically elected government of a country just because they have a different, though rational, belief in the how the world should be organised is unacceptable.
There has also been a noticeable widening between the Scottish Conservatives and the Conservative and Unionist Party on many issues.
Have a fly in your great leaders ear and remind him that if he fails to bridge the gap between Scotland and England as Tory government have since the 50s he won't need to make the decisions, we will make them for him.
blue eyes 11.30 am
Brown made the same bull**** statements he always does - 'stability' (are you joking!!), 'the right thing to do' (it would be the first time!!!).
He is completely and utterly out of his depth, following any plan that spends taxpayers money by the trillions.
He is a danger to the entire UK economy. And it will become obvious as the banking crisis grows in intensity and sucks the very lifeblood out of every taxpayer and borrower out there.
You have been warned.
Chris Paul:
I think that everyone knows Ed Balls never said "so weak", it was "so what?" in response to the comment that we were now the most taxed nation in Europe.
The suggestion that he said "so weak" was a feeble attempt to re-write history by NuLabour.
I believe, however, that it is a phrase often used by Yvette Cooper...
The speech was fine but the Tories are not putting the boot into Brown nearly as much as they should do. Cameron was on BBC news this morning (no doubt elsewhere too) and apart from a very mild reference to there being "nothing in the kitty" he let Brown off the hook.
Yes, much of what is happening is worldwide and not necessarily the government's fault. But Brown has wasted billions over the past 11 years and needs to be brought to account. Cameron & co clearly think that now is not the time to be pressing this home.
But the Tories need to be careful that Brown and Darling don't emerge from this as the perceived "saviours" of the economy - as always with NuLab creeps, they will be quick to take any credit that's going even after passing the entire blame for what has happened onto the Americans/City traders/Thatcher/Christians/whatever.
anonymous 11.36am You are an uneducated prat! That speech was made on radio! NOT at a party political conference. If you did not know there was a government of National Unity at the time!!
anonymous 11.44. Women = more than one. Woman = one!!
But my main point is this. With SO much ammunition to kill off Brown. WHY has he not gone for the jugular? I am vry worried that Cameron does not want to win the next election!
Oh dear- a 'government of national unity'... For f'ks sake- exactly what we do not need. If such a government takes form it will be a 'government of the political elites trying to save the financial elites.' What is going on is the political classes trying to make it look like they are 'doing something.' They can't really do owt effectively until we know how dire the financial situation is (ie) all main banks laying their cards on 't table) and from there solutions can be attempted. The 700 billion attempt by the US government is throwing taxpayers cash at a problem where 700 billion may not be enough. Anyways, all this 'homeownership' crap was a tool by previous governments to STOP council housing and to tie people in to colossal mortgages with the main aim to stop industrial action 70's style. The house of cards has collapsed and it won't be replaced. Hitting the right note at conference does not cut the mustard when people are literally forced to take out mortgages they cannot pay back on overpriced housing by the housing companies/estate agents/banks. Any idiot could see the day of reckoning coming.
Cameron's grandstanding is Churchill porn for the blue boys and girls - the rest of us don't give a toss.
Government of national unity? Good grief, you really need to get a grip.
anonymous 11:36 here
My point was that at times of national emergency the correct response to a good speech may not be wild enthusiasm.
I was not unaware that Churchill's speech was on the radio, and did not imagine that anyone would be ignorant of that.
Dave's speech just proves that Peter Hitchens is correct. There is essentially no difference between New labour and New Conservative.
We will probably vote Brown out because we are fed up with him and his team but the next lot will not be any different.
He tried to sound like Churchill and in part succeeded, yet only minutes after he finished speaking I found myself questioning just what was he actually proposing and saying. In essence it was maintaining the Status Quo.
Iain's political antennae are always wrong. Government of national unity a laughable idea and nobody is thinking about it.
Attacks on the city too much? They are pathetic tokenism to hide the fact that the Tories have no answers - that a dogmatic belief in markets cannot react to situations where the outcomes of functioning markets are bad for too many people.
An awful lot of people have done badly from the unfettered capitalist economy of the last 20 years anyway, but they were never of the classes who run the country. Now, with banks in trouble and house prices falling, the middle classes feel under threat. Suddenly the invisible hand needs to be slapped down - hypocritical, but not surprising.
The Tories have no answers. Labour know what to do but they're too risk-averse, or, to use a less jargony word, scared. It's time for a turn to the left, boys and girls. Think nationalisation, think government supporting the people, because actually (shock horror) it is the public not the private sector which pursues the public interest when the chips are down.
Oh! you do love Dave don't you Iain, and the more too the left he goes, the more yolu love him.
Still you're such a good judge of character, as your close friendship of Conway shows.
'Labour know what to do....'
anonymous 12.40 p.m.
Are you joking? They don't know what the problem is - how do they know what to do?
There is NOTHING they can do, the problem, the debts, the CDS exposure, the counterparty risk runs into quadrillions. Yes, quadrillions!
Throwing, or should I say, wasting, more and more taxpayers money on bailing out a bankrupt system only makes the matters worse. It transfers the bankruptcy from the banks to the state.
RIP UK.
Iain, the Tories were discarded by Britain in the last Century.
Why do you think they are wanted now?
When SKY journalists decide to look fairly and properly at who exactly it was that started this mess, they will find out it was Nigel("history will judge me" Lawson.
It was he who allowed freefall lending everywhere.
Please take a back seat and allow Socialism to take its course and clean up your mess.
Gary
I thought DC did well. Indeed, I was convinced he'd done well when Radio 5 Live read out a text from a 'listener' within minutes of Cameron sitting down accusing him of being "..patronising and pompous, and only Labour could solve the prombles..." Yeah, right. Clearly from Brown HQ. So well done Cameron, but still think Conservatives should keep reminding people who was responsible for all the irresponsibility the man himself talked about last Friday.
Couldn't help but snigger when you tried to compare DC to Churchill
Some 'off message' news on a fringe event:
http://www.westbournemouthukip.com/main.htm
I suppose, but this is where it turns again. Labour lead of 1-2 points by christmas I would say. Don't worry, though, we'll have it back off them eventually.
Whatever happened to the good old days when we used to have a war to get everyone to rally behind the Government.
Blimey, there are a lot of labour trolls out there today.
The suggestion that nationalisation will solve everything is perhaps the weakest and most naive I've yet to hear. Really worked for the Soviets didn't it?
If Brown keeps on blaming the Americans for this mess (even though his contribution has been vast), perhaps he might like to consider that it was his old mucker Billy Clinton that set the whole thing in motion with his reforms of the CRA. Idiotic lefty social meddling without considering the consequences
Its also interesting to point out that it was the Democrats who vetoed George W's attmepts to tighten regulation of the act - Democrats including one Mr Barack Obama.
Gotta love this from Barney Frank...
"Barney Frank, the ranking Democrat on the House Financial Services Committee," quoted his opposition to the changes: "These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing." - 2003
Kevin MaGuire has summed up Cameron's speech perfectly.
Excellent. A government of National Unity and troops on the streets.
Operation Joint Warrior will see all three branches of the UK Armed Forces joined by colleagues from eight allied nations, and engaged in wide-ranging manoeuvres across the country. The whole of Wales is being designated as a flying area for the duration of the exercise, and naval manoeuvres around Scotland will see 29 surface ships and four submarines participating.
Flight exercises will not be restricted to Wales, but will range over all of Britain, with the 60 participating aircraft flying up to 100 sorties a day.
The entire operation is scheduled to last for a fortnight. Starting October 6th.
Errrr- its not gone done well in this neck of the woods.
As leader of HM opposition, it his job to maul the the Government, hold them to account AND to provide alternative policies and solutions other than run screaming to the taxpayer.
The world has not ended any more than it did in the numerous banking crisis' that have happened in the last two hundred years- nor will it , when the next banking crisis happens.
The market will resolve this, politicians can do very little to influence events, what they can do is stop recruiting in the public sector whilst the private sector is shedding jobs, and this can only be done by slashing taxes.
Talk of a Government of National unity ???? Sounds like the political classes are getting a bit panicky if you ask me.
Cameron just comes over as a lightweight (consensus of opinion today over lunch) the wrong man got the top job in the Tories.
"Kevin MaGuire has summed up Cameron's speech perfectly."
Kevin Maguire is incapable of doing anything, let alone anything perfectly.
He seems to think it's contradictory for Cameron to blame Brown while wanting to work together with him to find a resolution. It isn't. It would be contradictory if Cameron had said it was Brown's fault and now wasn't, but that's not what he's saying. He is saying that it's clear to everyone who is to blame, what can we do about it?
To the lefties who blame this mess on market failure:
The crisis occurred because interest rates have been too low. Who has held them too low? The BoE. Which institution gives the BoE control over interest rates? The Government.
Genuine free marketeers e.g. those in the Libertarian Alliance have been predicting this crisis for ages.
Government of national unity??
Oh dear, although it is the logical end point of power-seekers without principle, save for a broadly statist agenda
No longer anonymous! of course you predicted it, it's people like you who caused it.
Privitization, de-mutualisation, greed is good, the eighties have come back to haunt us.
Thatcher's chickens coming home to roost.
Hmmm tell me a single right wing politician who complained that interest rates were too low.
What was the cry after every Labour budget, by the Tories.
'Put some away for a rainy day' I don't think so, 'What ever Labour are spending we'll match and even spend more'
'A future Tory government will double the amount that Labour is spending on the NHS.
Andrew Lansley.
Well, I may be somewhat naive but a government of national unity is exactly what we DON'T want.
Cameron should be standing on a soap box in Hyde Park lambasting Brown all the way to hell and back for what he's done.
I'll say this for Dolly's rapid butt unit, they're certainly earning their wages.
Cameron has changed horses.
He was doing fine with aggression "Your reputation is bust". Now he's confusing it with conciliation "stick together".
Any more like this and he's turn into Nick Clegg.
"Stick together" is completely inappropriate. You stick together against a common enemy. You don't stick together WITH the enemy. You don't stick together with cancer.
Words, words, words
In my view, yes, the right note was struck. It isn't the time for petty political point scoring.
The magitude of the risks facing the global economy isn't universally understood. We have enough problems facing us with climate change, global terrorism, other geo-political risk, and so on. We don't need academics writing up the Great Depression of the early part of the twenty first century as well.
Those looking to capitalise personally on this possibly don't understand the magnitude of the risks to the economic infrastructure. Also, sometimes in politics, self-aggrandisement and opportunism are dangers. The truly great don't succumb to this.
As Golda Meir stated:
I never did anything alone. Whatever was accomplished in this country was accomplished collectively.
Why is Dave condemning the US Congress? Doesn't he believe in democracy?
That's two own goals in two days.
1)Rulling out a third runway at Heathrow.
2)Kowtowing to a Labour government.
For the life of me I can NOT understand wehy this conference has Conservative in its title.
Tom Harris has pointed out the attached story. Iain, do you agree with Mr Gove that a conservative government should nanny those about to get married?
http://news.bbc.co.uk/1/hi/uk_politics/7643535.stm
thanks for link, blackacre.
Can't see how it's nannying. Gove is "offering" counselling.
Not an obligation but a choice.
When you go for a church wedding, it's not offered, its compulsory.
National Government? Who could be PM? Which members of this cabinet will be in it? Or is it going to be Gordon's pick?
anon 2:30
agreed. Cameron started to pick apart the "great Gordon the economic genius" absurdity this week, and has given up, snatching defeat from victory.
What - one poll saying the Tories were less trusted than Labour to deal with doom and gloom and he backs off?
Osborne was working the "we don't want any more of the Brown experience" - all working well. Now meaningless.
Clueless Cameron. It doesn't say what to do in the New Labour handbook. So he just doesn't know.
Why haven't Cameron and Osborne killed of Brown et al?
They have had lots of opportunity, so is it that they don't want to?
I'm getting rather worried because Brown and Darling could come out of this looking good.
I hope Cameron doesn't miss the chance completely.
Having watched Cameron's address I came away thinking that he has said as little as Bean & Badger. Cameron might wish to appear bi-partisan, but all it did was reduce his criticism of Gordon to a pile of rubble. Gordon will ignore him anyway, such is his ego.
Defeat snatched from the jaws of victory. At least Grieve gave a little praise to David D.
Dolly's trolls on here remind me of the late William Joyce, aka Lord Haw-Haw - rambling, sneering, slightly sinister. During the troubled uncertainty of 1940-41, Haw-Haw's broadcasts sounded truly unsettling, instilling fear in the populace. By the beginning of 1945 however, people could see them for what they were - the empty, deluded rantings of a madman.
Dolly, you are Lord Haw-Haw - and the Red Army is over-running East Prussia.
Government by focus group, yet again. Blair Two.
Success is "capturing the public mood" i.e. following the focus group.
"When you go for a church wedding, (counselling)' s not offered, its compulsory."
Do thry counsel you about the craziness of believing that some anthropomorphic being in the sky is watching over you?
To an extent. Mostly they confine it to not schtupping the neighbours.
Anon 12:47 PM
Do you speak English?
Be fair. He got you're and your OK.
Cameron is restricted in what he can say about any of this because he has backed the government in virtually every aspect of its economic policy - more than that, her has committed the Tory party to emulating those policies should his party gain power. Having mailed his colours to the NuLabour mast he has no choice other to now support the government in their "rescue" plans.
"For decades, Austrian School economists have warned against the dire consequences of having a central banking system based on fiat money, money that is not grounded on any commodity like gold and can easily be manipulated. In addition to its obvious disadvantages (price inflation, debasement of the currency, etc.), easy credit and artificially low interest rates send wrong signals to investors and exacerbate business cycles.
"Not only is the central bank constantly creating money out of thin air, but the fractional reserve system allows financial institutions to increase credit many times over. When money creation is sustained, a financial bubble begins to feed on itself, higher prices allowing the owners of inflated titles to spend and borrow more, leading to more credit creation and to even higher prices.
"As prices get distorted, malinvestments, or investments that should not have been made under normal market conditions, accumulate. Despite this, financial institutions have an incentive to join this frenzy of irresponsible lending, or else they will lose market shares to competitors. With “liquidities” in overabundance, more and more risky decisions are made to increase yields and leveraging reaches dangerous levels.
"During that manic phase, everybody seems to believe that the boom will go on. Only the Austrians warn that it cannot last forever, as Friedrich Hayek and Ludwig von Mises did before the 1929 crash, and as their followers have done for the past several years."
http://network.nationalpost.com/np/blogs/fpcomment/archive/2008/09/29/bailout-marks-karl-marx-s-comeback.aspx
Sing a long..
All together now, all tooo gether, all to gether nooowww.
Oh dear
Someone thinks Brown struck a good note - oh dear there is one born every minute.
There has been some twittering about Browns poll deficit reducing and comment on how he is seen to be (ever so slightly) more trusting on the economy.
This does seem most strange and I can only put it down to three things (4 if you include a biased poll).
The gullibility of the electorate
The crass stupidity (and left wing partiality) of the TV media
The ruthless deceit of Gordon Brown
Take the nationalisation of Bradford and Bingley.
Brown announced that it would not cost the taxpayer anything as it would be covered by an insurance policy (the existence of which and its purpose was news to me)
Well, as any one knows once claims mount on any insurance policy the premiums go up, and The Times has quickly pointed this out showing that bank charges will rise and indeed this may see the end of free banking.
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4849695.ece
Can we expect the BBC to point the finger at yet another Brown smoke and mirrors trick to hide yet another stealth tax to bail himself out of yet another financial disaster.
Or maybe Chris Paul and his anonymous friend can explain it all away?
BTW - as part of Santander buying the B&B branch network and its deposits - can someone explain why we the taxpayer are also giving it £4 BILLION?
And of course its good of paolo to point out Dolly Draper's rapid rebuttal' trolls out in force - and to point to Clinton's act forcing banks to lend to bad risks. You would never think by the way given all the lefty attacks on the Republicans that it is the lefty DEMOCRATS who have a majority in the House.
fiat - falsch in allen Teilen
Cameron's damned if he does, and damned if he doesn't. Labour wolves and other lefties aren't the most generous of people, so if Cameron had offered a magic wand to make the whole situation go away, he'd have still prompted them into making the typical, nasty, vindictive comments you'd expect. On the other side, if he tries to sympathise with the public for being a bit miffed that bankers can make so much money, then go running for taxpayer's money when things aren't going well, he gets stick for that too.
I think he struck the right note, it was a sensible thing to do, and well done him! As a humble voter, and not a died in the wool politico like most of you, he impressed me. Oh, and like many (most) other ordinary voters, I hate Brown for all he stands for.
I realise you're busy Iain, but you should start deleting the trolls. As it is, you might as well hand the blog over to Draper.
Kevin Maguire is incapable of doing anything, let alone anything perfectly.
Maguire is the Mohammed Saeed al-Sahhaf of the labour party. Everything he says, from the 'tory toffs' to 'druggie dave' (let it go, Toilets, you're the only one who cares) to how Brown is the only man to see us through the crisis now reads as clumsy self-parody. Occasionally it's still worth reading his page, just for the lulz.
Just had a thought Dolly's Babes (who are adding such amusement to this thread) might like to haul on board.
I think Cameron dug a tank trap for Brown with his offer to help.
Accept and he looks weak and clueless;
Refuse and he looks like an arrogant know-all (cue Dobermans.)
Whether or not he 'sorts' it, whatever he does, it will be interpreted as not enough, too late. (Cue Pit Bulls.)
Poor chap.
Thought he came accross well. Statesmanlike, empathetic and somber.
Might help calm the nerves of some of the sheeple before the repossessions start in earnest.
But what is Cameron's offer to help, cherami?
He hasn't volunteered a Chancellor. He's just offered to stop opposing.
Brown doesn't need to say a thing.
It's the reverse of the situation of just a few weeks ago.
Brown will either gracelessly ignore Cameron ("What the hell do you want?") or patronise him ("I am glad the novices have decided to support the master").
Brown will turn on Cameron the moment he demurs from Brown's most lunatic pronouncement ("this is the man who promised to stick together ... no more punch and judy" etc)
In a dramatic move today, David Churchill offered to help Gordon Hitler to avert the massive suffering a few bankers would have to endure for their own stupid mistakes.
Even though Hitler has been slashing and burning throughout the country for the last 11 years, resulting in scenes of mass starvation, horrendous crime and an almost total curfew, Dave Churchill said "Let's have none of this talk of war. Ok, you've done some very, very bad things, but we all have to concentrate on making sure that the nice Mr Finkelsteinberg and his friends don't lose any money. They've worked very hard you know."
Snotty McHitler made no comment but was said to be "getting on with the job" with a fucking great grin on his face.
Iain,
Would you favour applying the supposed financial 'remedies' to the Premier League? A nationalisation of West Ham (with an injection of £30m of public money), and its forced merger with Spurs & Newcastle to form a 'superteam'?
Not as bad today,the pills must be taking effect,poor little Draperettes
Why all the consternation about trolls?
FFS. if it's not LabHQ it's Drapers rebut., if it's not MaGuire, it's Robinson and Brogan, if it's not the BBC, it's ITV and Sky, if it's not the Guardian, it's the Telegraph and Mail.
Any more additions to the paranoid list you want to whine about?
The Ger'ment. The Ah-Arr-Eyesss. Hyeepies en Karmyoonists.
Ah'm headen fer the hyills with ma gurn.
brown will guarantee 50k savings - bbc
"Why all the consternation about trolls?"
There's been a noticeable increase in them since last week. Coincidently just after we heard about the RRU.
That said I expected the RRU to be more articulate than the trolls we've had recently. It seems they're not interested in putting forward an intelligent argument but just hurling abuse at the Tories.
All of this has shown that it doesn't really matter who is living in Number 10. It's a World economy. I think both leaders have come across pretty well and now is not the time to be pointing the finger of blame. The voters have very little choice as all three main parties are Left of centre.
freedom to prosper
PS Wouldn't it have been cheaper to buy the poor people in America a new trailer each?
Errm, has anybody noticed that it will be the Commission deciding whether any of the measures proposed by our politicians will be allowed to be put into place? National government, indeed. One that implements the Take-Over Directive, the Financial Services Directive etc, etc etc.
I reckon there is only one choice to make for any 'historic ecent'. The choice is between the 'cock-up' theory of government and the 'conspiracy' theory of government.
I've been going along with the NuLabour Cock-up theory for some time, and I still think it holds. However I do begin to wonder if the $700 million 'rescue' plan in the USA is part of a government/fiancial elite golden parachute for the end of the Bush era. Which would make Obama or McCain, and the rest of the 'free' world victims of a conspiracy.
Cock-ups can usually be fixed; conspiracies can only be undone by removing the plotters. Cock-up or Conspiracy? Our next government needs to know...
Iain
when will you lot up there stop attacking the City and our bonuses
without them their would be no financial sector
Boris was right we need less regulation not more
Your either for the City or against us
now tell them to get off our backs
My word - read the last anonymous poster (10:11). A total illiterate. Says it all about the genius of our bankers.
"Your (sic) either with us or against us". Fine, Mr Bush. We're all against you.
did you really just compare cameron to churchill?
really?...
Post a Comment