May 30

Economics whether practised by what can be called left or right/neo Classical/neo Liberals can come across as an esoteric practice. It allows enough phonies to practice it that politicians can always find solace in some nutter – our own George Osborne uses a crack smoking woman beater for instance.

The myth spreading was particularly apparent in the Election. Labour was accused of profligacy and numbers produced to show the debt was not that high historically. I made the point Labour were profligate and spent badly and as incompetence of graft via war, PFI and the massive subsidies to Finance and other industries – whether this was historically significant incompetence is moot. The Conservatives were accused of halting austerity but again mathematically the deficit reduction slowed was not stopped and hence you can claim it was still austerity. Yet Britain has not run a budget surplus even ignoring interest on prior debt. In the end one cannot crib the recovery in GDP save to say it’s still lower per capita than in 2007. One can also say it’s even less evenly divided – worse as of course more people now working. Better to argue that it’s a recovery in rents and asset prices is pointless and does not reward work or rebalance the economy. The glut of low wage jobs contradicts the Govt’s stated aims on Immigration and costs a fortune in subsidy. It has so far been austerity for the poorest and barely saved a brass razoo other than emasculating possibly essential investment.

The other well umm is this is the most anaemic recovery in 300 years and whilst the UK’s not on a cycle with other powers meaning we grow faster now whilst others slow it is clear to all bar Labour supporting cheerleaders that it’s not exactly been a gangbusters recovery anywhere. Again far better to point to the whole world’s neo Liberal nuttery as a cause of stagnation. You can draw lines on a graph and say growth should be 3% and inflation 2% but to me that is meaningless drawing lines between selected points on graphs and saying that used to be a path in a time period. Arbitrary End Point analysis.

The ultimate was of course Ed Balls double dip obsession. Seriously which is worse 0.1,0.1,0.1 0.1 0.1 quarterly growth rates or 1%, -0.1%, 1%, -0.1% 1%? Why not say weak growth not some contrived phrase?

The point is Economics needs to escape this world of silly rules and definitions and esoteric arguments. One of the central precepts of neo Liberalism is to make semantics and legality high priorities regardless of right or wrong or value of ideas and commentary. If I were an economist I would clearly aim to be Heterodox.

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Jan 27

The only ones who agree with the policies of Osborne is his good friend Balls and his Lab rats – no doubt handed to them both at Bilderberg and Davos. It’s child like to react to Lab/Con agenda setting when the main thrust is the lunacy of Austerity and Trickle down still whether Balls suggests 45% or 55% never mind 50%.

To defend the workers needs more than petty divisions over the triviality of 5% for those on over a 150 grand a year.

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Sep 29

Well at least some Labour gimmicks were aimed at actual problems. The Tory ones would appear to aim to create more problems.

  1. Help to Buy which is actually Help to Sell and imprison people in Debt. It makes no sense not even establishment economists are calling for more investment in a rentier society. A massive building program would make more sense from the country’s point of view but not Housing developers and Tories.
  2. Giving up on Human Rights Act. Apparently to keep us safe they will do this. They won’t stop penalising the poor or prosecute the city villains or the hospital managers and doctors or Labour’s PFI fraudsters who have killed thousands or make the country safe for cycling but will rip up Human Rights to save a few lives every year – no evidence ripping this act up will save anyone. This is surely indicative of the need for a police state to protect themselves and their backers when the cretinous point 1 blows up.
  3. HS2 why spend 50 Bn getting to Birmingham 15 minutes quicker when the daily commute not the inter  city is the real cause of misery. Of course it’s unfair to George Osborne he cannot give their pals as much as his mate Balls did via PFI but please George this is naked fraud.

Conference has not even started so expect an update…

 

 

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Sep 25

Ann Pettifor described Labour’s economics as Salami slices i.e. slices not a whole. I would go further and say they are a series of gimmicks tested on focus groups.

  1. Top of the list freezing energy prices. For starters it is actually arguable that UK prices are that high but if Miliband assumes we have a broken market a price freeze is not how you fix it. It’s just populist nonsense with the twist someone else pays for the bribe. Continue reading »

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Jun 20

People will argue that the demonstrably incompetent Gordon Brown a man who made anti intellectualism a goal of government was thrown out because he was not likeable. This is clearly not true. People take the least risk or when they feel there is no perceived risk then maybe it’s a beauty contest that the despicable Blair beat Major in. At the time Blair was not the broken gibbering clown he is now flouncing a massive income off the world’s mass murderers but a vibrant bouncey character for a Britain seemingly reviving culturally and economically. Blair also promised economically to be the Tories without the nasty rhetoric at single mothers, ethnic minorities and the Europeans – all of which Labour under Brown became when their bubble economics burst. The Tories now use PFI, Bailouts and funny money bubbles as much as Labour.

The point is that whilst people distrust Govt most will vote for the most competent sounding in this time of crisis. Thus  Blair when it was his duty became unpopular propagating others wars. I do believe that it was his weak conformist nature and lack of character rather than a conscious decision to do something stupid. Similarly Obama who has gone from joyous crowds to the sad pathetic pariah in Germany in 5 years when it was time to back the wars and control freakery he caved and within days of taking over.

However popularity counts for nought. Paint your opposition as incompetent and you’re in. At present Cameron faces a grim opposition of chancers called Ed and has even seen the Tories double support in the Under 30s – those not prejudiced by the hateful bigotry of the Thatcher years.

Ironically for John Major the perceived comfort of Britons such that Tories fought over Europe and to satisfy their own venality were the reasons he lost. Hard times may actually be good for business especially as the poor and intelligent switch off from the rhetorical crap of the main parties leaving the nasty, selfish and stupid middle to vote.

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Jun 05

In the run up to the 1997 Election with the economy stable the savant Brown decided to say he would follow Clarke’s policies. Which he did up until 2001. This he supposed would quieten the so called markets and the press and it was successful. Also whilst the Major boom might have been joyless it was working and certainly not as joy-less as the money/debt illusion boom of the new century.

This based on Balls appearances the other day would appear to be Labour’s policy again. Only this time they are accepting economics no one sane on the right or left would take seriously. A withering austerity that threatens to leave millions in poverty and a society of indentured servitude for graduates and mortgage holders. A society where free expression and thought will be sackable offences.

Why would Ed Balls who pushed massive stimulus 3 years ago, along with kicking out the immigrants, to be leader of the Labour Party now be in favour of austerity? Can we conclude that the master of failed City regulation and PFI fraud is a broken man? A cuckold of Miliband? Having to peddle a line drawn up by the moronic prejudice of  focus groups of floating voter flotsam?

Either way only a few technocrats imposed by Germany on Greece, Spain and Italy with Labour, Liberal and Tory parties in the world now support this economics of Austerity. Whilst I dislike Balls intently and think him a functioning moron nonetheless like Vince Cable you have to wonder if to his panoplia of faults being a gutless self first career creep may be added.

No wonder Osborne sponsored his marathon run. They agree on almost everything.

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Jun 03

Faced with a housing bubble, PFI costs, a stock bubble, a bond bubble, deflation for 95% of us inflation for the rich etc etc Ed Balls big idea is to reduce Winter Fuel allowance for wealthy pensioners. He’s happy to follow Osborne’s spending forecast for 2 years.

Not quite the ranting swivel eyed loony inducing differences I find when Labour fans debate with me. Not the moral difference and sneering contempt Labour fans scream at the Tories and those of us who say they’re no different.

Just the narcissism of small differences. Vote Red Salt says a man who blamed Immigrants when standing for Leader of the Labour Party. Clown and Bigot made one in Ed Balls.

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Apr 22

On the face of it it is a triviality that George Osborne would sponsor Ed Balls. That it flies in the face of the hatred and bile supporters of the red brand throw at the blue brand says something to me. You may think your brand of politics is better but don’t pretend your leaders are much different in values to their opponents you hate so vehemently. Don’t come with your red rose mugs and expect those of us beyond these grim parties of the born rich to appreciate your populist ingratiating diatribes against the big blue devil.

Indeed today brings news after wasting £300 Bn we are told through mere incompetence not criminality (!) Ed Miliband intends more massive NHS ‘reform’. The last one cost at least 20,000 lives, according to Govt figures, not counting the super-bug costs nor the numbers PFI deals will consign to an early coffin. Nor what effect this will have after the brutal asset stripping of Jeremy Hunt.

Indeed surely the cheapest way to provide health care is on the basis of clinical need. Remove these vast bureaucracies and profit centres and use waiting lists to shift priority on a medical basis. This is cheapest and is not supported by Labour or Conservative as of course there is no: graft: need for reform: chance for political interference when things are done by medical need.

Seriously Labour and Tory fans you support parties whose leaders so easily mingle with opponents you hate. Are you stupid or insane?

They don’t represent us or you.

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Mar 04

Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back. I am sure that the power of vested interests is vastly exaggerated compared with the gradual encroachment of ideas.

John Maynard Keynes

Sadly for Keynes he has become that academic scribbler who the clowns follow and bastardise. I am sure he would argue that Balls, Osborne and co merely opportunistically quote him but that is I guess the point he was making. Stupid men and in Rachel Reeves case women will believe what suits them. Even better to tie to a theory and or ideology like the clown who uses trends at Cheltenham.

Sadly weak people will cling to the life raft of lore or a statistic rather than think things through.

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Jan 04

Ed Balls did nothing to improve my view of him or Labour as more than clever idiots who come up with slogans and then policy based on matching a nice sounding slogan. Of course every slogan must have the word Tough in it to appeal to morons.

Ed Balls has come up with “Tough but Fair” Work and Welfare Reform. The policies to come later. The policy they can let us know is essentially Tory Workfare with minimum wage. No details on how this will not undermine wages at the bottom, is not paid slavery, subsidises bad employers or even how it will work. Most especially there is no clear goal stated just a slogan about a perceived but loosely specified problem.

Since Ballsy is fond of opportunistically caricaturing Keynes maybe they will dig holes and then fill them in. Or maybe they will build camps for Immigrants but with Kindergartens for the children this time. Camps for people rude on Twitter and those who mock Mr Balls not compliant in the whole PFI and Bank fraud because he was too stupid to spot it.

However you sift it it’s slogan led policies with no specific goals/problems/ethos. When they do have a policy it is Tory Lite. Like increasing tuition fees to 6000 not 9000.

Tory and Labour is really Same Direction Different Speed Same ruinous Economics.

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