Blanchflower: Spending Cuts Are 'cowardice'

[OnlyMe]

Obviously wants the government to be really brave and piss more taxpayer's money into more made up public sector gold plated jobs.

Nutcase.

http://www.moneymarketing.co.uk/politics/blanchflower-spending-cuts-are-cowardice/1020452.article

Blanchflower: Spending cuts are 'cowardice'

19 October 2010 | By Steve Tolley

The cuts due to be announced in tomorrow’s Comprehensive Spending Review amount to political cowardice, according to David Blanchflower.

In a report in the Guardian, professor of economics at Dartmouth College and former Bank of England policy maker Blanchflower said the cuts were a surrender in the face of financial crisis.

He said: “Faced with this economic war, this misguided coalition Government has…shown appalling cowardice; rather than fight, Osborne is about to run up the white flag of defeat.”

[Errol]

Yes, the truly brave decision is to print money. Only the really brave and clever like Gordon Brown have the required skill.

[the primitive]

Obviously wants the government to be really brave and piss more taxpayer's money into more made up public sector gold plated jobs.

Nutcase.

http://www.moneymarketing.co.uk/politics/blanchflower-spending-cuts-are-cowardice/1020452.article

Blanchflower: Spending cuts are 'cowardice'

19 October 2010 | By Steve Tolley

The cuts due to be announced in tomorrow’s Comprehensive Spending Review amount to political cowardice, according to David Blanchflower.

In a report in the Guardian, professor of economics at Dartmouth College and former Bank of England policy maker Blanchflower said the cuts were a surrender in the face of financial crisis.

He said: “Faced with this economic war, this misguided coalition Government has…shown appalling cowardice; rather than fight, Osborne is about to run up the white flag of defeat.”

FFS it's one thing to be in favour of Keynesian spending our way out, but to claim it is "cowardice" to cut is just ridiculous. Ask Cameron how cowardly he feels telling that Harrier pilot to his face why he is going to be put on the dole.

Blanchflower = tw@

Edited October 19, 2010 by the primitive

[Rain'ard]

Obviously wants the government to be really brave and piss more taxpayer's money into more made up public sector gold plated jobs.

Nutcase.

http://www.moneymark...1020452.article

Blanchflower: Spending cuts are 'cowardice'

19 October 2010 | By Steve Tolley

The cuts due to be announced in tomorrow's Comprehensive Spending Review amount to political cowardice, according to David Blanchflower.

In a report in the Guardian, professor of economics at Dartmouth College and former Bank of England policy maker Blanchflower said the cuts were a surrender in the face of financial crisis.

He said: "Faced with this economic war, this misguided coalition Government has…shown appalling cowardice; rather than fight, Osborne is about to run up the white flag of defeat."

How do you tax the poor they haven't got an money? How do ou sustain a society without payiing for its failings? Are thosenwho will be on the recieving end of cutss responsible for the economy and political decissions that has created this mess. Are we not a panicing Basil Forte smacking Manuel around the head

[interestrateripoff]

FFS it's one thing to be in favour of Keynesian spending our way out, but to claim it is "cowardice" to cut is just ridiculous. Ask Cameron how cowardly he feels telling that Harrier pilot to his face why he is going to be put on the dole.

Blanchflower = tw@

This is NOT Keynesian spending, what we should be spending now is the savings we made during the boom that never happened as someone had very cleverly abolished the boom/bust cycle so their was no need to save.

Printing free money is not going to work in history it has never worked but somehow now it's different?

Blanchflower is an A1 idiot.

[Gone baby gone]

Yes, the truly brave decision is to print money. Only the really brave and clever like Gordon Brown have the required skill.

Exactly. How brave do you have to be to tell people they can have their cake and eat it and order another couple of hundred billion to be run off the presses?

Blanchflower is a premium grade knobhead, it is a damning indictment of the BoE selection process he was ever on the committee.

[ken_ichikawa]

How do you tax the poor they haven't got an money? How do ou sustain a society without payiing for its failings? Are thosenwho will be on the recieving end of cutss responsible for the economy and political decissions that has created this mess. Are we not a panicing Basil Forte smacking Manuel around the head

You automatically assume they are hiding or cheating. Much like the Sengoku Jidai period of Japan where 150% income tax was normal, thus peasants would hide their grain and their sons and daughters. The UK government will just assume we are cheating. Like in the film the quick and the dead whereby the poor people could afford to hire an assassin so it meant they could afford even more crippling taxes. 400% income tax should do nicely.

[Gone baby gone]

This is NOT Keynesian spending, what we should be spending now is the savings we made during the boom that never happened as someone had very cleverly abolished the boom/bust cycle so their was no need to save.

Yes, the moment we ran a deficit during the boom times, Keynesianism went out the window.

[thecrashingisles]

That the media have to turn to Blanchflower for this stuff shows you how much credibility this viewpoint has

[the primitive]

This is NOT Keynesian spending, what we should be spending now is the savings we made during the boom that never happened as someone had very cleverly abolished the boom/bust cycle so their was no need to save.

Printing free money is not going to work in history it has never worked but somehow now it's different?

Blanchflower is an A1 idiot.

I know, was shorthand for being on the dove side of the argument is all.

I agree with every word of your post

[Executive Sadman]

Blanchflower said the cuts were a surrender in the face of financial crisis.

Dear god. The man really is mad.

He really thinks print enough and you can 'win'. Like its something to be beaten.

There is no magic silver bullet. Deflation or Inflation, we'll ALL going to end up a lot poorer in the future.

[bogbrush]

Hey guys, it's the Grauniad.

Those poor b@stards are going through Hell now, watching everything they've espoused for years proven to be a crock. What else can they do except find some dunderhead like Blanchflower to make them and their hand-wringing readers feel better?

[neil324]

Why the f*ck does the clown comment any more? Does he still even live in the UK.

[wonderpup]

He right, but for the wrong reason. The real failure is to address the issue of writedowns- the debt cannot be repaid in full but our leaders don't have the balls to take on the vested interests and force a deal with them.

I would say what we have here is a form of national masochism in which the population must be seen to suffer for it's sins (Or at least the unimportant parts of the population) Only when sufficient pain has been visited on the indebted will the subject of writedowns be tentatively broached.

Debts that can not be repaid will not be repaid- the only question that remains is who is left standing when the music stops.

[OnlyMe]

He right, but for the wrong reason. The real failure is to address the issue of writedowns- the debt cannot be repaid in full but our leaders don't have the balls to take on the vested interests and force a deal with them.

I would say what we have here is a form of national masochism in which the population must be seen to suffer for it's sins (Or at least the unimportant parts of the population) Only when sufficient pain has been visited on the indebted will the subject of writedowns be tentatively broached.

Debts that can not be repaid will not be repaid- the only question that remains is who is left standing when the music stops.

Two separate issues here - the debts dumped onto the taxpyer from the skunk banks and the debt built up by the mongrels in the last government (both fully supported and encouraged by the same bankrupt of england members).

[Yoss]

Obviously wants the government to be really brave and piss more taxpayer's money into more made up public sector gold plated jobs.

Nutcase.

He said: “Faced with this economic war, this misguided coalition Government has…shown appalling cowardice; rather than fight, Osborne is about to run up the white flag of defeat.”

Thank ***K this guy no longer has any power/influence. Idiots like him drove us into the reckless lending mess, when they where put in power to avoid it!

"Slump" ! I just wish the press would stop printing his endless guff and someone please string him up from a lamp post, for failure to do his duty. Had lending been curbed and interest rates raised long before now.. This mess would have never happened.

[OnlyMe]

Thank ***K this guy no longer has any power/influence. Idiots like him drove us into the reckless lending mess, when they where put in power to avoid it!

"Slump" ! I just wish the press would stop printing his endless guff and someone please string him up from a lamp post, for failure to do his duty. Had lending been curbed and interest rates raised long before now.. This mess would have never happened.

Hate to point it out to you but another parasite from the financially corrupt USA has been parachuted in to help determine UK monetary policy, he's screaming for qe too.

[gf3]

Blanch flower may have a point. If you are going to go bankrupt anyway, why not go bankrupt owing trillions instead of millions? I really can't see Britain paying back it's debt. anybody know when we last had a trade surplus?

red tape health and safety will put us at a disadvantage to the developing country's just can't see Britain turning it round.

[AteMoose]

Blanchflower said the cuts were a surrender in the face of financial crisis.

Dear god. The man really is mad.

He really thinks print enough and you can 'win'. Like its something to be beaten.

There is no magic silver bullet. Deflation or Inflation, we'll ALL going to end up a lot poorer in the future.

Not mad, he is a labour party economist, that his title. Everything blanchflower says is for the good of the party

Edited October 19, 2010 by AteMoose

[stormymonday_2011]

He right, but for the wrong reason. The real failure is to address the issue of writedowns- the debt cannot be repaid in full but our leaders don't have the balls to take on the vested interests and force a deal with them.

I would say what we have here is a form of national masochism in which the population must be seen to suffer for it's sins (Or at least the unimportant parts of the population) Only when sufficient pain has been visited on the indebted will the subject of writedowns be tentatively broached.

Debts that can not be repaid will not be repaid- the only question that remains is who is left standing when the music stops.

They are taking a massive punt on monetary easing being sufficient to revive the economy

Despite what some think. Osborne and Cameron are not following a Thatcherite economic agenda. In fthe early 1980s Thatcher's Chancellor,Geoffrey Howe ran a very tight monetary policy but made hardly any direct cuts in public spending. This monetarist approach killed inflation but led to a very sharp recession that decimated much of British manufacturing industry. . Osborne is hoping a lose monetary policy will avoid this pitfall and generate sufficient growth to compensater the spending cuts. The problem, as recent boom/bust cycles have shown, is it is very difficult to stop easy credit being used to finance speculation rather than growth. Osborne is likely to wind up with the worst of all worlds with low growth, high unemployment, high inflation and another round of asset busts generating more debt crises.

Cameron and Osborne only have one shot at this issue. If they miss then there is going to be no second chance for them

[oracle]

Obviously wants the government to be really brave and piss more taxpayer's money into more made up public sector gold plated jobs.

Nutcase.

http://www.moneymarketing.co.uk/politics/blanchflower-spending-cuts-are-cowardice/1020452.article

Blanchflower: Spending cuts are 'cowardice'

19 October 2010 | By Steve Tolley

The cuts due to be announced in tomorrow’s Comprehensive Spending Review amount to political cowardice, according to David Blanchflower.

In a report in the Guardian, professor of economics at Dartmouth College and former Bank of England policy maker Blanchflower said the cuts were a surrender in the face of financial crisis.

He said: “Faced with this economic war, this misguided coalition Government has…shown appalling cowardice; rather than fight, Osborne is about to run up the white flag of defeat.”

...oh,so he's faced up to the fact it's an economic war.

with whom?

the solution is really rather simple.

if you are in an economic war,it is with supposed trading "partners" who you are whoring with,that frankly you need to shut up shop on.

..best solution........get manufacturing back,give people decent skills to be employable and create something of tangible value in tems of innovation.

.....and a bit of a lifestyle change......do we really need to purchase copious quantities of pointless plastic tat?...that's where the meeja is abysmally failing in it's patriotic duty.

to sumise,pretty much the opposite of what NuLabour have done for the past decade.

...oh,and also be prepared for a fight,because toys will be thrown out of the pram when candy withdrawn.

[OnlyMe]

'Inside Job': Rampant Conflicts of Interest, Cronyism Led to 2008 Crisis

http://finance.yahoo.com/tech-ticker/%27inside-job%27-rampant-conflicts-of-interest-cronyism-led-to-2008-crisis-charles-ferguson-says-535519.html?tickers=MET,AIG,XLF,FAZ,SNE,^DJI,^GSPC&sec=topStories&pos=9&asset=&ccode=

[OnlyMe]

...oh,so he's faced up to the fact it's an economic war.

with whom?

the solution is really rather simple.

if you are in an economic war,it is with supposed trading "partners" who you are whoring with,that frankly you need to shut up shop on.

..best solution........get manufacturing back,give people decent skills to be employable and create something of tangible value in tems of innovation.

.....and a bit of a lifestyle change......do we really need to purchase copious quantities of pointless plastic tat?...that's where the meeja is abysmally failing in it's patriotic duty.

to sumise,pretty much the opposite of what NuLabour have done for the past decade.

...oh,and also be prepared for a fight,because toys will be thrown out of the pram when candy withdrawn.

He wrote a piece that was in the papers fully supporting migrant labour, skills shortgages blah blah. Two faced scumabg, what of those jobs displaced in the UK market? Didn't give a shit for them did he?

[wonderpup]

They are taking a massive punt on monetary easing being sufficient to revive the economy

Despite what some think. Osborne and Cameron are not following a Thatcherite economic agenda. In fthe early 1980s Thatcher's Chancellor,Geoffrey Howe ran a very tight monetary policy but made hardly any direct cuts in public spending. This monetarist approach killed inflation but led to a very sharp recession that decimated much of British manufacturing industry. . Osborne is hoping a lose monetary policy will avoid this pitfall and generate sufficient growth to compensater the spending cuts. The problem, as recent boom/bust cycles have shown, is it is very difficult to stop easy credit being used to finance speculation rather than growth. Osborne is likely to wind up with the worst of all worlds with low growth, high unemployment, high inflation and another round of asset busts generating more debt crises.

Cameron and Osborne only have one shot at this issue. If they miss then there is going to be no second chance for them

Hasn't most of the QE money gone on a speculative spree overseas anyway? Why do they think giving compulsive gamblers even more money will change their behaviour.

The bankers will not lend to UK PLC, even if anyone wants to borrow- not when they can use the money to create fast profits elsewhere.

It's comical really- giving money to bankers and telling them to lend it out to SME's is like giving money to a junkie and telling him to spend it on food.

[oracle]

Blanch flower may have a point. If you are going to go bankrupt anyway, why not go bankrupt owing trillions instead of millions?

but what do you think will be used as collateral if fiat money is valueless,or the quantities are beyond redemption?

....fuel,food or toil?.....are they adquate substitutes?