Public views wanted at experts' finance conference

10:00am Saturday 11th August 2012 in Colchester

THE public are invited to give their views on the global financial crisis at an international conference.

The fourth Critical Finance Studies Conference is being held at Essex University ’s Wivenhoe campus between August 15-17.

Bringing together academics from around the globe, the conference hopes to look at ethical financial reforms which could lead to the end of the boom or bust economy.

It is the first time the non-experts have been invited and it is hoped the two-hour open session, which starts at 3.30pm on Thursday August 17, will spark debate between academics, financiers and the general public.

Anyone interested in going should visit the conference website choosing the ‘CFS Panel and Reception’ option. The cost is £10 including a drinks reception afterwards.

Comments(48)

Sdapeze says...
11:42am Sat 11 Aug 12

Academics and financiers! Lord save us from these so called experts. Meanwhile the smug TV news announcers tell us, seemingly daily, about the lack of jobs and the declining growth figures. This member of the public, no expert at all, knows full well what is wrong. Fat cats draining our resources for their own personal gain at the expense of manufacturing jobs that this country used to thrive on. Colchester Lathe Company, Woods of Colchester, Paxman Diesels, Betts, Matthews and Yates, Sound Attenuators, need I go on? All gone. All products imported from overseas now, manufactured by foreign workers. Is it any wonder we are in recession when the government sits back in its comfortable, jobs for life position and makes excuses for its inability or unwillingness to redress the situation. Labour were no better either. I can't trust any of them to do what is best for Britain. Can you?

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Checkout says...
3:36pm Sat 11 Aug 12

I have no doubt that some of them are "experts" but I cannot help but wonder about the amount of real life experience they bring to the subject.
Our present chancellor is a pretty good example of a modern "expert". A 2/1 degree in modern history and a "career" in political posts. What possible preparation is that to run the country's economy. A good spell at the sharp end of business might have been more useful. I sometimes wonder if he has ever had to account for or really manage anything before now.
In business I found MPs in general to be pretty worthless unless there was something in it for them. Having six of them on a company advisory board allowed me to view them at close range. Totally worthless, all of them, I thought the chairman was crazy to appoint them. The greater good of the business or the country was of little import to those clowns. A good lunch was much more important.
I'll have to agree with your last thoughts Sdapeze, so very true.

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Feisty CBC says...
8:26pm Sat 11 Aug 12

Brilliant post Ivan.

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jacklumber1 says...
10:25am Sun 12 Aug 12

Agree with everything you guys have said. I was in Logistics in the UK and overseas from road construction to docks and oil field supply in Arabia.
We lost all our main manufacturing virtually threw it away. We allowed bankers to do as they please without adequate regulation and sold off our assets like Felixstowe docks to the Chinese! All done by the 'experts!

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25414nora says...
11:40am Sun 12 Aug 12

Sdapeze wrote:
Academics and financiers! Lord save us from these so called experts. Meanwhile the smug TV news announcers tell us, seemingly daily, about the lack of jobs and the declining growth figures. This member of the public, no expert at all, knows full well what is wrong. Fat cats draining our resources for their own personal gain at the expense of manufacturing jobs that this country used to thrive on. Colchester Lathe Company, Woods of Colchester, Paxman Diesels, Betts, Matthews and Yates, Sound Attenuators, need I go on? All gone. All products imported from overseas now, manufactured by foreign workers. Is it any wonder we are in recession when the government sits back in its comfortable, jobs for life position and makes excuses for its inability or unwillingness to redress the situation. Labour were no better either. I can't trust any of them to do what is best for Britain. Can you?
So refreshing to note ..Sdapeze doing a complete about turn of his past thinking 'on the subject of manufacturing job losses'.

Now he seems to put blame (correctly) on academics, financiers, and bad government for the nations decline

In the past he has blamed the trade unions (bully boys) for all the uk's ills.

Even though his inconsistancy is breathtaking, I agree with his views above.

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Sdapeze says...
12:07pm Sun 12 Aug 12

The reason the jobs went overseas Nora was much to do with the communistic unions. I have been through picket lines. The cowards that stand outside and harangue people who want to work are cowards, pure and simple. The capitalists moved their businesses overseas rather than stand up to the unions. They took the easy option and governments allowed it to happen. Any re-industrialisation must include protection for business against unions. I am a manufacturer and I am responsible for a lot of local jobs. No union is going to tell me how to run my business. But my/our problem is that we have no youngsters coming into engineering. If I found one that had maths skills and a practical mind I would take him on tomorrow and train him. Our schools have failed our children and industry is the worse for it. So what's the answer Nora? You seem to know it all. Please share your wisdom with these experts so that Britain can get back on track again.

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wellnow says...
9:51am Mon 13 Aug 12

your all better of than your ancesters stop bleating.

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roseypettal says...
3:55pm Mon 13 Aug 12

something very fishy hear

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roseypettal says...
3:59pm Mon 13 Aug 12

Feisty CBC wrote:
Brilliant post Ivan.
Who is Ivan

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Im_Like_HELLO says...
5:37pm Mon 13 Aug 12

So far Economics (the study) has failed to explain the booms and the busts. Why do they still teach this mumbo jumbo at schools and colleges then?

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californianana says...
5:57pm Mon 13 Aug 12

Brilliant sdapeze.We often disagree but U R 100%.Many of our jobs are outsourced to India for cheap labor ant the companies rake in billions in profits.They dont care about people here with families to feed and house.My hubby is a welder worked on subs for the Navy but was still not able to find work.......

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25414nora says...
7:06pm Mon 13 Aug 12

Sdapeze wrote:
The reason the jobs went overseas Nora was much to do with the communistic unions. I have been through picket lines. The cowards that stand outside and harangue people who want to work are cowards, pure and simple. The capitalists moved their businesses overseas rather than stand up to the unions. They took the easy option and governments allowed it to happen. Any re-industrialisation must include protection for business against unions. I am a manufacturer and I am responsible for a lot of local jobs. No union is going to tell me how to run my business. But my/our problem is that we have no youngsters coming into engineering. If I found one that had maths skills and a practical mind I would take him on tomorrow and train him. Our schools have failed our children and industry is the worse for it. So what's the answer Nora? You seem to know it all. Please share your wisdom with these experts so that Britain can get back on track again.
Again Sdapeze you contradict yourself.
You see British Trade unions as 'Communistic Cowards'.

It's a known fact that the trade union movement in Germany, and France, are twice as militant as our British counterparts.

'Yet', BMW, AUDI, VOLKSWAGEN are still earning billions for the German economy.

RENAULT, CITROEN, PERGEOT, still giving employment, and boostering the French economy.

We no longer have any British motor industry..Gone are Austin, Morris, Hillman, Riley, BSA, Standard, Triumph, etc.

Woods of Colchester, Lathe Co, Paxmans, Betts etc, ect were all practically free of union problems. 'Yet' sold off by people with your brand of ' blinkered vision..

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newtactic says...
10:37pm Mon 13 Aug 12

As someone who was in a manufacturing business in the 1960s and 1970s, our business was not affected in any way by union activity. We ran a "limited company" with skilled employees who had no reason to strike for better pay and conditions or to prevent us from using cheaper foreign workers. But, certain firms we dealt with started to import materials rather than manufacture them in the UK. This practice was encouraged as "good" business, as it maximised profits. In addition, foreign firms took over businesses and "streamlined" and asset-stripped them. Assets were sold off and the money was not re-invested in the businesses. Pension schemes were closed to maximise profits by cutting down on the wage bill. In my experience unions take action to try to prevent manufacturing jobs from going overseas and to protect their company's future and their pensions.

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newtactic says...
9:14am Tue 14 Aug 12

A classic example of profits going out of an industry is the railway system in this country. Beeching recommended cutting many branch lines, which was done in the expectation the remaining lines would then become profitable. Whole communities and small economies declined as a result. Some of the land and property was sold off and was not re-invested in the railway industry. The remaining lines lost their "feeder" lines and therefore lost a lot of traffic and the network profitability did not improve. The same thing happened with the notorious "privatisation". In this case properties, stations etc, (assets if you like) were sold off for profit, but the money was not re-invested in the railway system. And the railway system itself was divided up. The infrastructure was separated from the train services, which in themselves are now run by many separate companies. The losers in these "reforms" of an industry are the many small economies which had regular public transport links with larger conurbations. And the industry itself lost years of 19th century investment in assets which were sold off for a quick profit rather than re-invested to improve the industry. This, I admit is a simplistic account of a more complex history. Look around the UK and take note of the places which have retained their railway links and contrast them with those which lost them.

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6079 Smith W says...
11:55am Tue 14 Aug 12

Well I've been off rather obsessing the Olympics, but it's good to see a rather healthy debate going on here. Now I'm going to surprise you all and say Sdapeze is right! Of course unions were a reason behind capital's relocation eastwards, much better for profits to have your production done by kids in slave wage sweatshops, with any dissent put down through the barrel of a gun.

But the capitalist will not continue to get all its own way in China. We will rarely hear about China's strikes, its social unrest, but it is happening. Unions here faced similar repression throughout the 19th century, but won recognition, better wages, better conditions, and eventually an NHS and welfare state.

Perhaps we shouldn't be too down on the so-called experts. There is a broad consensus among economics academics that the policies of governments are completely wrong, because only governments can provide the investment needed for growth, and that cutting everything at the height of a recession is the most stupid and suicidal thing you can do.

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wellnow says...
3:33pm Tue 14 Aug 12

"a broad consensus among economics academics"swallow a biggy then.

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6079 Smith W says...
5:50pm Tue 14 Aug 12

wellnow wrote:
"a broad consensus among economics academics"swallow a biggy then.
Well they just might actually be ahead of the politicians?

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wellnow says...
9:58am Wed 15 Aug 12

this is a capitalist society not a co-operative one.

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6079 Smith W says...
11:44am Wed 15 Aug 12

wellnow wrote:
this is a capitalist society not a co-operative one.
Yes, which is why we need to see its current model isn't working, otherwise it won't remain a capitalist society. We probably won't remain a society at all.

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jacklumber1 says...
3:05pm Wed 15 Aug 12

But the politicians are ahead of us when it comes to their own employment conditions, pensions, expenses, subsidised food and drink let alone having their homes and flats done up at public expense. Just look at the politicians who still complain because they now have some kind of regulator.
Ask Sir Bob he knows whats going on.

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wellnow says...
3:22pm Wed 15 Aug 12

there'll always be an england whilst there's a country lane.

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6079 Smith W says...
7:38pm Wed 15 Aug 12

jacklumber1 wrote:
But the politicians are ahead of us when it comes to their own employment conditions, pensions, expenses, subsidised food and drink let alone having their homes and flats done up at public expense. Just look at the politicians who still complain because they now have some kind of regulator.
Ask Sir Bob he knows whats going on.
Spot on there, Jack.

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6079 Smith W says...
7:41pm Wed 15 Aug 12

wellnow wrote:
there'll always be an england whilst there's a country lane.
Confidence is to be admired, but blind faith can become problematic. That rather reminds of Cameron, Osboune, et al.

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jacklumber1 says...
7:48pm Wed 15 Aug 12

New Statesman has a new article. The economists who previously backed George Osbourne now condemn him.
Good one more nail in the Tory led Coalition's coffin and hopefully consign them and their Lib Dem hangers-on to the knackers yard. Buzz is Glegg may go to Europe as a Commissioner and Vince Cable with a break away group join Labour. All change please!

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jacklumber1 says...
8:19pm Wed 15 Aug 12

Another interesting story on the Open Democracy website by Gerry Hassan who says the Tory Party are now the 'Zombie Party parochial partisan and incapable of providing democratic representation'. The Tory Party has now lost 50% of its core supporters same as the Lib Dems. No surprise after just two years of the Cameron Osbourne and May screw ups. Let alone Dave's chummy horse riding mate and the ex Director of Communications! They were all experts weren't they!

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6079 Smith W says...
8:20pm Wed 15 Aug 12

From what I can see, most economists (about the most right-wing area of academia you can get), have gone all Keynes, and very anti-cuts. But not surprising really. Keynes was never left-wing. In fact, he loved capitalism so much, he wanted to save it from itself.

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newtactic says...
10:13pm Wed 15 Aug 12

The coalition was built on a promise to rescue the economy and it has failed to do so. In fact it has made matters worse. It must, therefore, fall apart. The idea was to slim down the state and let the "private sector" take over. Many public sector employees were made redundant. They were encouraged to set themselves up in business to sell their skills on the open market. New business start-ups increased. Because their roles were necessary, they are then re-employed by local or central government at a higher cost than when they were employed directly. Those former state employees who have not been re-employed are drawing benefits. Either way, the financial burden on the state is higher.

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jacklumber1 says...
10:23pm Wed 15 Aug 12

On tonights Sky news the Deputy Gov of the Bank of England - a Mr Bean - said they, the BofE, couldn't work out the UKs economic problems! If the BofE cant who can? Is it time to send for the real Mr Bean then?

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newtactic says...
10:33pm Wed 15 Aug 12

Trust Sky News to find a spokesman who hasn't a clue! Suggest you watch or listen to Channel 4 News or Radio 4's Today programme or its lunchtime news. Both usually manage to find a reasonably sensible spokesperson with a rational view and analysis of the current situation.

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jacklumber1 says...
10:45pm Wed 15 Aug 12

I do watch Channel 4 news and BBC and many others. I am quoting from the interview comment of the ''Deputy Gov of the Bank of England'' that was given to SKYnews tonight.
So you don't think the Deputy Gov of the Bank of England can be called an expert then? Makes the point doesn't it.
What the Deputy Gov of the BoE says on TV is irrelevant to what news channel presents that interveiw - think about it a bit more!

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newtactic says...
11:15pm Wed 15 Aug 12

There are many possibilities to consider for the Deputy Governor of the Bank of England's contribution to Sky News. Perhaps the he does know what ails the UK economy, but doesn't want to jeopardise his position or upset the establishment by actually spelling it out. Or perhaps the questions framed by the interviewer were phrased in such a way, they elicited the rather clueless answer you quote above. Or it could be simply, he feels he is in the wrong job, has something else lined up and is not bothered about the state of the UK's economy. Or perhaps he thinks, as many people do, the coalition governments' policies have brought the UK's economy to its current state, but he would rather not put that point on television. Any of those reasons make sense to me. Sometimes it's what interviewees don't say, rather than what is said, which is revealing.

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jacklumber1 says...
11:38pm Wed 15 Aug 12

Very good speculation on your part to justify your argument. But lets stick to facts shall we.
Your problem you don't like SKY - you prefer Channel4 OK.
But the news channel was SKY.
The interviewer asked -
what did Mr Bean put the UKs economic problems down to?
Mr Bean replied that the BoE had lots of data / information which they had analysed.
But they could not define the causes of the UKs economic problems!
Thats the it end of story / interview.
I just reported what I saw/ heard.
No speculation by me just an assumption that the Deputy Gov of the BoE would be an 'expert'.
Then my idea of a quip send for the real Mr Bean not an expert except in comedy- no federal case really is there?

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newtactic says...
8:24am Thu 16 Aug 12

For "could not define the causes of UK's economic problems" read "do not wish to define the causes of UK's economic problems" and you are just about spot on there. My only "problem" with Sky News is that I find it boring. It's not really a problem, if I don't watch it. Wasn't Gordon Brown labelled "Mr Bean" by Vince Cable? Would that Mr Bean make a better job of healing the UK's economy?

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wellnow says...
10:10am Thu 16 Aug 12

give sweater,didlum,grind
er rushton and cowlig de graballand the elbow at the next election.

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6079 Smith W says...
10:37am Thu 16 Aug 12

newtactic wrote:
Trust Sky News to find a spokesman who hasn't a clue! Suggest you watch or listen to Channel 4 News or Radio 4's Today programme or its lunchtime news. Both usually manage to find a reasonably sensible spokesperson with a rational view and analysis of the current situation.
I've said it before on here. In my view the best analysis of the crisis will be found on Newsnight through their economics correspondent, Paul Mason. And if you've got the time, give his book about the crash, ''Meltdown", a go.

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jacklumber1 says...
10:41am Thu 16 Aug 12

No not GB Mr Bean. But the one who 'played' the organ at the Olympics opening ceremony. He would probably be just as good at economics as well.
I read even George Osbourne's experts are turning on him so watch his space! Plus Boris wants Dave's job.
I've the SKY package so I get all news channels plus the Nat Geo / Discovery/ history etc etc.
I'm not into the soaps & sops!

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newtactic says...
11:17am Thu 16 Aug 12

Agreed, Paul Mason is good, so is Fisal Islam. At the moment most world economies seem to be chaotic and confused... nations blaming each other for their problems. It's as if every monetary and economic system in the world has exploded and we have to wait until it all falls to the ground to build it up again soundly. Except that some countries, for instance Canada, are almost completely free from the fall-out. Could it be something to do with full-employment, sensible use of natural resources and stable government?

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jacklumber1 says...
11:39am Thu 16 Aug 12

I watch Newsnight and like Paul Mason with his down to earth analysis and presentation. But at times its good to get an overseas perspective because the UK reports can be just a tad too biased. Its good to know how overseas news channels see and report the news. It may give an idea how UK news is 'slanted'.
Talking of Channel4 and John Snow did you watch him giving evidence at the Leveson Inquiry and his comment about 'pernicious and mendacious' reporting! Good man John Snow doesn't pull his punches. The PCC received a lot of criticism as well!

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wellnow says...
2:12pm Thu 16 Aug 12

at the end of the day.listening to any of them is a complete waste of time.any fool can shut the stable door afters.there now making pots talking about it to mugs.

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jacklumber1 says...
6:28pm Thu 16 Aug 12

In tonights London Evening Standard is a report that Immigration Minister Danien Green has said -''We want the next generation of Nobel prize winners coming to Britain''!
He adds -''We offer a thousand visa per year for the exceptionally talented. In the first year we came nowhere near using them all! Surprise Surprise!
I wonder if he means like the Russian banker who was shot six times in East London and said he didn't think that would happen in the UK & his ex colleagues in Russia had put the hit on him!
If you were a budding Nobel prize winner would you want to come to Britain with people like Green in the Govt? Green another expirt. What a Coalition no wonder it's falling apart ''we're all doomed Mr Mainwaring''! God save the Queen and Britain!

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6079 Smith W says...
6:33pm Thu 16 Aug 12

wellnow wrote:
at the end of the day.listening to any of them is a complete waste of time.any fool can shut the stable door afters.there now making pots talking about it to mugs.
'at the end of the day.listening to any of them is a complete waste of time.'

Right, so listening to anybody else is pointless, especially if they seem to have some sort of grounding in the subject, as a Newsnight economics correspondent probably has? But the fact you post says you think we should listen to you, even that completely unintelligible post of 10:10AM this morning (were you really drunk at that time?).

How else do we come to our views, if it isn't by listening to others (I'm actually all up for that)? But sorry, I'll go with Mason - and many others, of both right and left - to listen to, rather than somebody who uses the Gazette website to post the most illiterate, pointless platitudes. Thinking wisdom exists in your own little bubble, well, you need to be careful.

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newtactic says...
7:47pm Thu 16 Aug 12

Yes jacklumber I noted John Snow's comments. I agree about getting foreign perspectives on the UK. They are an eye opener. There seems to be a lot of careful editing in our news media. It will be interesting to see the results of the post Leveson inquiry court cases and how they will affect the future of the UK's media.

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jacklumber1 says...
9:05pm Thu 16 Aug 12

Some of the media 'ex-sperts' have toned down their presentation. The PCC is now seen as totally US. They are fighting regulation.But
the publicity, especially the Milly Dowler hacking, has shown just how much the press needs independent restraint!

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wellnow says...
11:39pm Thu 16 Aug 12

i see we have a bishop on here.

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jacklumber1 says...
6:55am Fri 17 Aug 12

A further example of Govt arrogance Gove announced he was selling 21 school playing fields (against advice) but then it appears it was actually 30 school playing fields he sold! This is a man who is the Govt 'expert' on education - yet has ignored advice at a time when we need to encourage childrens participation in sport to make them fitter and healthier and as a legacy to the Olympics. It seems they all become 'gods' do as they personally see fit - the public do not matter!

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jacklumber1 says...
7:35am Fri 17 Aug 12

Another Govt 'expert' we have is Immigration Minister D Green who has just said - ''We want the next generation of Nobel prize winners coming to Britain.
Green got himself arrested in the Commons when he was a backbencher.
When police took him to the Station
Bob Quick said when offered a phone call Green wanted to talk to Andy Coulson - who has now been charged over the phone hacking scandal!
So just why would potential Nobel prize winners want to come to Britain with 'experts' like Green as Govt Minister? Just like his expert boss May and her **** cat tall story - who the police said to her - 'you can't be trusted!
Who is their expert boss - We are all in this together PM Dave Cameron!

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wellnow says...
9:20am Fri 17 Aug 12

oh dear,open the cage.

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jacklumber1 says...
11:14am Fri 17 Aug 12

wellnow haven't you noticed yet the cage is already open the 'animals' are out. Time to wake up before they eat you!
You could get in the cage yourself and lock the door.
Unless you believe ignorance is bliss?

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