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Ed Balls Shows The World What A Tool He Is

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Typical, it's everyone elses fault apart from labours. The interviewer should have thrown the usual labour BS line of "It was a global banking crisis and no-one saw it coming" back at him.

If this bloke ever becomes chancellor, this we are in serious trouble! Admittedly a lot of people thought the same of Osborne but he's facing up the challenges well and Balls is a proven train wreak!

Linked to ....

http://www.dailymail.co.uk/news/article-1358300/Labours-Ed-Balls-hits-political-Bank-England-boss-supporting-hawks-Treasury.html

Desperate Ed Balls takes a swipe at Bank chief: Outcry as he accuses 'political' Mervyn King of being too close to the coalition

Shadow Chancellor Ed Balls has launched an astonishing attack on Bank of England Governor Mervyn King, accusing him of being drawn into politics.

Mr Balls said the respected central Bank boss had tied himself too closely to the Coalition’s ‘extreme’ deficit reduction plans.

He suggested Mr King was risking the Bank’s reputation by backing policies that could trigger a double-dip recession.

Mervyn King, Governor of the Bank of England

Mr Balls said yesterday: ‘Central bank governors have to be very careful about tying themselves too closely to fiscal strategies, especially when they are extreme and are making their job on monetary policy more complicated.’

The Shadow Chancellor, who often boasts of Labour’s achievement in making the Bank independent from government, said: ‘The last thing you ever want is for the Bank of England to be drawn into the political arena.’

His comments, in an interview with the Financial Times, come after Mr King this week echoed other top economists by backing the Coalition’s plans for the economy.

He said: ‘There has to be a Plan A. This country needs a fiscal consolidation starting from its largest peace-time deficit ever.’

Mr Balls’s attack was all the more confusing as in recent weeks the Labour bruiser has reneged on his previous opposition to clearing the deficit within four years. And he had further criticism for Mr King. The former Treasury adviser and minister used his interview to blame the Governor for failing to spot the risks of the financial crisis in late 2007.

He said: ‘The issue was that the actors in the room, the Governor [of the Bank of England], head of the [Financial Services Authority] and the senior Treasury people including me didn’t see the building of that risk.’

David Cameron hit back at Mr Balls over the attack. The Prime Minister said: ‘What the Governor said this week about rebalancing was extremely powerful and I have to say I think Ed Balls is not just misguided, I think he showed a complete lack of judgment in attacking the Governor of the Bank of England in the way that he did. Quite, quite wrong. But not untypical.’

In the wide-ranging interview, Mr Balls also undermined a claim by his party leader Ed Miliband that Labour was being led by a ‘new generation’.

He said: ‘We have been around so long. We have been at the high level of the party for two decades, including 13 years of government. We are experienced but we are still sort of young.’

But he admitted that when New Labour came to government, ‘we were probably more sure of ourselves than anyone ever should be’.

He also plunged the knife into his mentor, former prime minister Gordon Brown.

In a cruel dig, he said: ‘I have seen what it is like when people worry more about the job they want than the job they have got. That’s very destructive.’

Mr Balls explained that his mission now was ‘getting Ed Miliband into Downing Street’, saying that the public had hoped in 2007 that Labour would be able to break out of the old ‘Blair-Brown’ prism.

‘Gordon Brown never managed to do that,’ he said.

He also rebuffed criticism from Tony Blair that he suffered from a Left-wing disease of not being able to understand aspiration. He said he helped his father build a conservatory in his youth – the ultimate symbol of middle-class aspiration.

Mr Balls became Shadow Chancellor after Alan Johnson stood down when details emerged of his wife’s affair with his personal protection officer.

Since the acrimonious Labour leadership contest, Mr Miliband has been suspicious of his one-time Treasury colleague.

The Shadow Chancellor has been forced to move his desk within yards of Mr Miliband so the leader can keep an eye on him.

Last night Tory MP Matthew Hancock, a former adviser to Chancellor George Osborne, also hit out at Mr Balls over the comments.

He said: ‘Ed Balls’s irresponsible attack is a calculated attempt to undermine the Bank of England for his own narrow political ends.

‘If he wants to enter the debate at this crucial time for the economy, he should set out his own plan instead of playing desperate political games.’

And Business Secretary Vince Cable came to Mr King’s support, saying he was an ‘excellent Governor’.

‘He is currently managing an extremely difficult situation. He understands the need to keep capital cheap in order to stimulate the British economy and get it moving,’ he told Radio 4’s World at One.

‘But he is also dealing with inflation, much of it imported. He is highly professional. He has been an excellent Governor and I certainly have a lot of confidence in him.’

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There's me thinking it had all been sorted last week with Merkin and the 0.3% clothing adjustment. Somebody is certainly bare-arsed here, becuase nombody bothered to tackle the biggest ****** off fraud ponzi liar scheme in history under their noses.

First bank runs in 200 years.

An unpayable debt to be born by those who are even to be born.

An exported and wrecked industrial base.

It really is quite an achievement.

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He's a complete muppet. The problem is he's quite a good muppet.

Joe public who isn't clued up on what constitutes sustainable long term economy policies believe him when he says it is ok to run huge deficits and 'invest' in non-ROI public sector binges.

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He's a complete muppet. The problem is he's quite a good muppet.

Joe public who isn't clued up on what constitutes sustainable long term economy policies believe him when he says it is ok to run huge deficits and 'invest' in non-ROI public sector binges.

But they were bankrolled all the way through, largely by largesse from the central bank providing whatever liquidity the government wanted in the system. Up to unlimited/unpayable levels.

Edited by OnlyMe

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Ed Balls' opinion of his own abilities was cast in 1997 at the moment he entered the treasury and got a round of applause from staff gathered around the balcony.

There is footage of the occasion somewhere - someone should pick over it carefully. If anyone clapping still works there, they deserve a P45.

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He's a complete muppet. The problem is he's quite a good muppet.

You think ? He just comes across as a smirking tw4t to me. The kind at school that would make smart **** comments then run to teacher when someone threatened to smash his face in for it.

He has no credibility whatsoever. Anyone can judge from the sidelines and second guess where the goverment is going wrong, but his track record of what he did when in government is hardly stellar. Quite why interviewers don't take him to task for it I don't know.. particulary the overpaid so presumably intelligent Marr/Paxman.

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You think ? He just comes across as a smirking tw4t to me. The kind at school that would make smart **** comments then run to teacher when someone threatened to smash his face in for it.

That's how I see him too.

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You think ? He just comes across as a smirking tw4t to me. The kind at school that would make smart **** comments then run to teacher when someone threatened to smash his face in for it.

He has no credibility whatsoever. Anyone can judge from the sidelines and second guess where the goverment is going wrong, but his track record of what he did when in government is hardly stellar. Quite why interviewers don't take him to task for it I don't know.. particulary the overpaid so presumably intelligent Marr/Paxman.

Totally agree. Marr (£600,000 p.a.!!!) and Paxman (£800,000 p.a.!!!) are champagne socialists they want us to pay for their tax avoiding, their villas in the South of France and their numerous ped a terres its socialist guilt. Polly Toynbee - nuff said.

Balls offers Jam today and jam tomorow it only works when the population doesn't understand where the jam comes from.

Edited by gravity always wins

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Totally agree. Marr (£600,000 p.a.!!!) and Paxman (£800,000 p.a.!!!) are champagne socialists they want us to pay for their tax avoiding, their villas in the South of France and their numerous ped a terres its socialist guilt. Polly Toynbee - nuff said.

Balls offers Jam today and jam tomorow it only works when the population doesn't understand where the jam comes from.

Spot on and don't forget the obese thug Balls is the ex boyfriend of another one of the BBC/ Liebour elite (Stephanie Flanders).

The BBC as usual are giving him and the half-wit Milliband a free pass as they come from exactly the same group of champagne, overpaid and privileged statist hypocrites who would cry over somebody dying on the other side of the world but stop happily over the corpse of any ordinary British working person who was not dependent on the state. The story will always be made to fit the theme..............and Ball's expense dodges, sponsoring Mc'Bride and previous dressed in a Nazi uniform will never get into their headlines.

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You think ? He just comes across as a smirking tw4t to me. The kind at school that would make smart **** comments then run to teacher when someone threatened to smash his face in for it.

He has no credibility whatsoever. Anyone can judge from the sidelines and second guess where the goverment is going wrong, but his track record of what he did when in government is hardly stellar. Quite why interviewers don't take him to task for it I don't know.. particulary the overpaid so presumably intelligent Marr/Paxman.

Don't get me wrong he is useless but for some reason people who know little about what constitues sustainable economics seem to buy what he says.

One seriously dangerous man. Selling to the nation that we can go on living beyond our means and everything will be ok.

Do labour not understand unintended consequences of their economic actions or do they just not care? I wonder...

Edited by ringledman

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He's a complete muppet. The problem is he's quite a good muppet.

That's very true, but with a proviso - he's a good muppet in terms of Labour supporters, he calls out to them at every opportunity, plays on their baises, miscomprehensions & assumptions.

He's good at "staying on message", despite the Labour message being such a corruption of logic & honesty.

I despise him, no idea how he peers into a mirror without shame ripping the flesh from his ever-burgeoning body ...

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He just comes across as a smirking tw4t to me. The kind at school that would make smart **** comments then run to teacher when someone threatened to smash his face in for it.

HAHAHA! I've said that almost verbatim in the past, if I knew him at school I'd have leathered him regularly. He'll morph into Roy Hattersley in later years (about 5 years time really), trust me on that.

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The BBC as usual are giving him and the half-wit Milliband a free pass as they come from exactly the same group of champagne, overpaid and privileged statist hypocrites who would cry over somebody dying on the other side of the world but stop happily over the corpse of any ordinary British working person who was not dependent on the state. The story will always be made to fit the theme..............and Ball's expense dodges, sponsoring Mc'Bride and previous dressed in a Nazi uniform will never get into their headlines.

Very eloquently put & agree entirely.

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There is simply no way this country would vote in Miliband and Balls - no way never

Miliband talks like an idiot and reeks of left wing old labour Scargill

Balls looks & speaks like some chancer estate agent that you wouldn't buy a house from let alone allow him to run the country's finances

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Don't get me wrong he is useless but for some reason people who know little about what constitues sustainable economics seem to buy what he says.

One seriously dangerous man. Selling to the nation that we can go on living beyond our means and everything will be ok.

Do labour not understand unintended consequences of their economic actions or do they just not care? I wonder...

Its like trying to talk a suicide bomber out of doing what he is doing. He has defied logic for so long, rational arguments really dont help.

You cant really argue with Balls when all he has to offer is the 'we must keep stimulus going to ensure growth'

Anyone can see borrowing 13-14% of GDP stimulus to fund 0.1% 'growth' is insane. No amount of number crunching can turn that into a good deal.

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There is simply no way this country would vote in Miliband and Balls - no way never

Miliband talks like an idiot and reeks of left wing old labour Scargill

Balls looks & speaks like some chancer estate agent that you wouldn't buy a house from let alone allow him to run the country's finances

Its true. Even my near senile grandmother who voted for Brown because she preferred Sarah Browns dresses to Samantha Cameron's (seriously - worrying thing is there's probably millions of elderly voters out there like that) is clocking onto the insidious pro-liebour bias on the TV news channels. I think that the anti-coalition media coverage has gone so OTT that it might actually begin to help them.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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      • up 5%



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