Credit Cruch: Brought on by a decade of booming property prices and debt fuelled consumer spending - worldwide.
Fuel Prices: Global oil price has rocketed by 40 per cent - even George Bush has been unable to persuade middle eastern oil nations to produce more oil.
Food Prices: rising due to emerging economies such as China moving to a more westernised diet putting pressure on global wheat and dairy supplies.

What exactly should Gordon's policies been to prevent any of this?

Best Answer

There is no doubt that Gordon Brown may not be accountable for the global downturn but he can certainly be blamed for allowing the credit situation in the UK to run out of control. He was hoping that the economy would remain bouyant and that tax revenues would allow him to continue to massage the employment figures through an escalation in government based jobs. His efforts have resulted in disaster for they have coincided with one of the worst global recessions in decades. Retail inflation is possibly out of control and I suspect that with a forecasted reduction of growth in the economy stagflation my occur. Brown has lost confidence in his ability to run the country and unfortunately there is no person in the government who can help him. I truly believe he is a broken man.