Apr 06

This we’ll make work pay is in one sense an honourable aim. However in reality it is a specious attempt at mere electioneering. Even someone as vain as Osborne or as shallow as Alexander would know that the methods of achieving this are self defeating.

  1. Cut Benefits: These are low and will just put more pressure on extended families and Social Services.
  2. Subsidising Wages or forcing people to work: This is just a further encouragement to the zombie economy as work for standing around in a shop is valued as taking up a profession or joining a new vibrant company.
  3. These so called new jobs add nothing to the country’s GDP so far – more people employed and even with QE etc it’s still flatlining.
  4. Forcing people into work lowers wages of those at the bottom – why should I employ you when the state will give me free workers? This again lowers demand and tax return to no benefit to GDP.
  5. Putting more and more people in unproductive low paid jobs is hardly going to fund growth or debt repayment the UK needs.
  6. Essentially it’s become an ‘end around’ the minimum wage with people supplied to business for nothing at a cost to the rest of us working for pennies an hour.

It seems merely a cynical ploy for votes from a deviant stupid self important middle class fed on stories of scroungers and benefit fraudsters. Who’d be stupid enough to fall for that? All 3 main parties support an inherently bullying model for the unemployed, low paid and unfortunate which says little for them and the idiots who will vote for any of them. They scream morality but have no value system. They are happy to condemn millions of people and hide behind rhetoric.

Rhetoric drives policy in the UK no matter how much misery it causes.

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Mar 20

It was identified that one of the largest groups of tax avoiders was Buy To Lets. Equally Corporates avoid taxes and Banks’ balance sheets are widely considered to be a load of bollocks and they pay little tax. These are the main groups who benefit from this budget by Osborne. Oh and the breaking of the beer escalator by a whole 1p.

It’s utterly nonsensical to boost the housing market with subsidy. Indeed there is an argument for the state building houses to drive down rents. Subsidised mortgages may safely be said to be among the last things things we need – encouraging rentier incomes. The UK needs investment.

Labour could not win an election off highly paid public servants and I doubt Osborne will off buy to lets and senior bankers. Well let us hope not anyway.

BTW all political parties support this nonsense just only one’s supporters claim to be free marketeers.

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Mar 12

Ed Conway@EdConwaySky Oh dear. BIG fall in manufacturing output in Jan: down by 1.5% month on month. Economists had expected 0%. IP down 1.2%. Nasty

Economists might be fooled but no one else is. When you favour the loss making financial industry over manufacturing what can you expect? When you favour asset prices and speculation over savers and investors what can you expect?

Of course the rich share of tax payments will rise and this will be used as proof of efficacy and more reasons to kick the poor into jobs that have not raised National Output. Indeed I would make the case to Osborne that as he claims to have raised employment but not output Public Sector Workers must be more productive. It’s as logical as giving money to the rich. In the US this spiral of stupidity has left 15% on food stamps and this is likely to grow with the rich likely to use it as a justification to a supine middle class that their taxes pay for others.

It’s just a death spiral or debt spiral where you weaken the real economy and then say the rest of the economy is dependent on the subsidised and criminal Financial Sector.

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Mar 07

Vince Cable called for an end to Austerity.

Sadly he did not call for an end to QE and artificial interest rates as the gutless clown Osborne prepares to hand over the economy to the QE junkie Carney. Osborne is showing even greater cowardice than Brown who one could argue had good reason to hand over monetary policy in 1997 even if that abdication of responsibility looks like criminal incompetence 15 years later.

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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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Feb 23

I walk through cold weather in a giant cashmere coat much like many do the recession who are in work. It barely affects me. I barely notice.Yet whilst the unemployed are piled into low productivity low wage jobs that do nothing to increase output I and my ilk sit in offices, go out drinking and in my case chuffing Cuban Cigars.

Yet in many ways we are the ones who are most deluded. Our pensions are being gutted by inflation and fees to maintain banker incomes. We may think we have a stake in society but we have no more than a student bullied to work for nothing to subsidise Poundland’s owners. Indeed the arrogance of the wealthier is that Inheritance tax is a big issue to some. Yet what people expect to leave in 20 or 30 years is irrelevant in more cases than is understood now.

The economy may flatline but with Sterling a dead man walking and energy prices rising even wider real deprivation will hit home and soon – stagnation for the UK is a downward line in an energy crunch. That a nation of shelf stacking coffee pourers will save the nation according to IDS and Osborne is of course poppycock. The current economics of enforcing the status quo of a housing bubble, asset prices, zombie companies, PFI, Govt waste etc will ensure a dead economy for many years in a country which does not produce its own goods, food nor energy anymore.

It’s time to put aside your red , orange and blue flags and take on the vested interests of the corrupt troika of Politicians, Security Services and Financiers looking after themselves at our expense.

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Dec 18

By excusing HSBC’s sterling work for drug cartels President O’ Line O’ Coke hypocrite Leader of the War on Drugs aided by deputy hypocrites PM Lino’Cam and his Chancellor the Cocaine Hoover George Osborne have clearly shown now: it’s not about drugs: it’s not about saving lives: It’s not about health: it’s not about quality of life. It’s all about posturing and rhetoric: About being seen to be tough on something under Federal not State jurisdiction.

HSBC money launderers who facilitated the drug lords, let’s not pretend it was just them or is just them,  will suffer no penalty. The banks shareholders will which of course is our pension funds currently being stolen from by QE and cheap money to make the rich richer and shrink our economies.

If you do not believe the current politics is a Kleptocracy or more prosaically a Banker Occupation explain this. 40 years of bullshit on the evils of Narcotics and it’s not even a crime if you’re Rich.

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Dec 08

There can surely be no excuse for the poor bashing in the Autumn Statement? It amounts to a triumph of rhetoric over reality. I am sure we can all find spongers and wasters but I don’t see the jobs out there. I do see poverty. I do see people close to an abyss of the burgeoning under class.  Continue reading »

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Sep 22

Darling said they did not get rid of Head Banker Mervyn King because there was no one else. This is of course pure Labour rhetoric, cowardice and their defining quality can kicking.  Continue reading »

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Sep 14

How did Keynes miss that all one needs to do to run an economy is keep expanding the money supply and give that to the rich whilst over using the world’s resources and running massive trade deficits. How did someone as anal as Keynes miss such an obvious solution to economics?

Either that or Bernanke, Osborne, Balls, Darling, King and Brown are wrong.

Who you betting on?

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