Andrew Neil On Daily Politics

[The Masked Tulip]

Worth watching when it turns up on iplayer - Andrew neil had a good segment at the tp of the show about how screwed the UK economy is.

Alas, he appeared to have, IMPO, a better understanding of where we are now than some of the experts.

[shindigger]

In terms of mainstream media Andrew Neil and Jeff Randall are the only two that really get it.

Hes just about the ONLY talking head on the BBC that i can stand.

[spyguy]

The UK economy is easy to explain:

From 2002-ish to 2007-ish the personal sector spent 20 years of disposable income in 5 years.

They are now paying back the interest.

Meanwhile, in the public sector GB, in an effort to get people to vote for him probably went on the largest benefit spending spree ever in the developed world. In short, he tried to create a client state, assuring himself that the fianancial sector would generate enoguth cash to pay for it.

While in the private sector, mainly the financial sector, they went absolutely f-ing nuts. The large wholesale operators - investment banks, etc - took advantage of the various ex-mutual CEOs types when they turned up and said' Hello, I'm Adam Applgate, Im a genius I am Hyuck hyuck hyuck'. So Mr Agglegarth, a genius like yourself will see what a great scheme this is etc etc etc. Cue 150 odd years of mutual's capital going !poof! in various cr*pholes like Ashford to some of worse dressed teachers I've ever.

The 'ooh the cuts are too much for the economy are total BS. The UK state is taking in ~51% of GDP and still running a 11% deficit F!F!S!!!.

These are figures from the Soviet Union in the mid to late 80s.

The UK economy will contract. No point denying it. The choices are are 1) Contract or 2) Implode a la Greece, Ireland + Portugal.

[VeryMeanReversion]

The 'ooh the cuts are too much for the economy are total BS. The UK state is taking in ~51% of GDP and still running a 11% deficit F!F!S!!!.

These are figures from the Soviet Union in the mid to late 80s.

The UK economy will contract. No point denying it. The choices are are 1) Contract or 2) Implode a la Greece, Ireland + Portugal.

Those figures and the lack of cuts just tell me that the chosen path is to implode (preferably on the next guys watch).

The current system is just too broken now, there have been too many promises made. Liabilities are accelerating whilst real income is falling. For those of you that remember SimCity, it's heading for "New Game".

[Tired of Waiting]

In terms of mainstream media Andrew Neil and Jeff Randall are the only two that really get it.

Hes just about the ONLY talking head on the BBC that i can stand.

+ 1

[Georgia O'Keeffe]

The UK economy is easy to explain:

From 2002-ish to 2007-ish the personal sector spent 20 years of disposable income in 5 years.

They are now paying back the interest.

Meanwhile, in the public sector GB, in an effort to get people to vote for him probably went on the largest benefit spending spree ever in the developed world. In short, he tried to create a client state, assuring himself that the fianancial sector would generate enoguth cash to pay for it.

While in the private sector, mainly the financial sector, they went absolutely f-ing nuts. The large wholesale operators - investment banks, etc - took advantage of the various ex-mutual CEOs types when they turned up and said' Hello, I'm Adam Applgate, Im a genius I am Hyuck hyuck hyuck'. So Mr Agglegarth, a genius like yourself will see what a great scheme this is etc etc etc. Cue 150 odd years of mutual's capital going !poof! in various cr*pholes like Ashford to some of worse dressed teachers I've ever.

The 'ooh the cuts are too much for the economy are total BS. The UK state is taking in ~51% of GDP and still running a 11% deficit F!F!S!!!.

These are figures from the Soviet Union in the mid to late 80s.

The UK economy will contract. No point denying it. The choices are are 1) Contract or 2) Implode a la Greece, Ireland + Portugal.

typical fckin anarchist nonsense

at just 51% theres still room to push the envelope out another 49%

[Executive Sadman]

The UK economy is easy to explain:

From 2002-ish to 2007-ish the personal sector spent 20 years of disposable income in 5 years.

They are now paying back the interest.

Meanwhile, in the public sector GB, in an effort to get people to vote for him probably went on the largest benefit spending spree ever in the developed world. In short, he tried to create a client state, assuring himself that the fianancial sector would generate enoguth cash to pay for it.

While in the private sector, mainly the financial sector, they went absolutely f-ing nuts. The large wholesale operators - investment banks, etc - took advantage of the various ex-mutual CEOs types when they turned up and said' Hello, I'm Adam Applgate, Im a genius I am Hyuck hyuck hyuck'. So Mr Agglegarth, a genius like yourself will see what a great scheme this is etc etc etc. Cue 150 odd years of mutual's capital going !poof! in various cr*pholes like Ashford to some of worse dressed teachers I've ever.

The 'ooh the cuts are too much for the economy are total BS. The UK state is taking in ~51% of GDP and still running a 11% deficit F!F!S!!!.

These are figures from the Soviet Union in the mid to late 80s.

The UK economy will contract. No point denying it. The choices are are 1) Contract or 2) Implode a la Greece, Ireland + Portugal.

I like how aprils borrowing is the highest on record.

If thats austerity, id hate to see what profligacy looks like

Daily Mash talking more sense than the MSM rags, as usual

Cuts attacked by people who think they are a bad idea

THE debate over government cutbacks took a dramatic turn last night after they were attacked by some people who have never liked them.

http://www.thedailymash.co.uk/politics/politics-headlines/cuts-attacked-by-people-who-think-they-are-a-bad-idea-201106063910/

Why anyone other than estate agents would want to go back to 2000-2007 is beyond me too. Oh yes, thats right, they need credit to buy the latest range rover every other year to keep the neighbours impressed.

[Tired of Waiting]

Those figures and the lack of cuts just tell me that the chosen path is to implode (preferably on the next guys watch).

The current system is just too broken now, there have been too many promises made. Liabilities are accelerating whilst real income is falling. For those of you that remember SimCity, it's heading for "New Game".

Out of this whole mess there is one nice, major silver lining: Even in the best case scenario, supposing the current gov. manages to reduce the gov. annual budget deficit to just around 3% of GDP by the end of this parliament, even in this case the total accumulated gov. debt will be by then around 100% of GDP. This is usually the maximum level the international bond market accepts. Therefore, (and this is the nice part) whoever wins the next election, even if it is Labour, they will be forced to live within their means. No more borrowing. No choice.

.

Edited June 6, 2011 by Tired of Waiting

[Georgia O'Keeffe]

Out of this whole mess there is one nice, major silver lining: Even in the best case scenario, supposing the current gov. manages to reduce the gov. annual budget deficit to just around 3% of GDP by the end of this parliament, even in this case the total accumulated gov. debt will be by then around 100% of GDP. This is usually the maximum level the international bond market accepts. Therefore, (and this is the nice part) whoever wins the next election, even if it is Labour, they will be forced to live within their means. No more borrowing. No choice.

.

yep im sure they wont just ramp up taxes, by which time capital will start doing a runner and then Kaput finally

[Executive Sadman]

Out of this whole mess there is one nice, major silver lining: Even in the best case scenario, supposing the current gov. manages to reduce the gov. annual budget deficit to just around 3% of GDP by the end of this parliament, even in this case the total accumulated gov. debt will be by then around 100% of GDP. This is usually the maximum level the international bond market accepts. Therefore, (and this is the nice part) whoever wins the next election, even if it is Labour, they will be forced to live within their means. No more borrowing. No choice.

.

Wont it just be pure unadulterated printy printy?

Then we'll get inflation that makes the one off 2.5% VAT rise look like childs play.

I love unintended consequences. Every time liebour does something to 'help' the poor, it ends up hurting them most. And they still vote liebour!

Course it will probably be PM Balls by then, who'll have probably infiltrated the remaining 1% of the BBC who arent Liebour party apparatchik's so that we're at least regailed with wonderful liebour propaganda whilst we starve/freeze/get turned into kebabs.

[Oliver Sutton]

Out of this whole mess there is one nice, major silver lining: Even in the best case scenario, supposing the current gov. manages to reduce the gov. annual budget deficit to just around 3% of GDP by the end of this parliament, even in this case the total accumulated gov. debt will be by then around 100% of GDP. This is usually the maximum level the international bond market accepts. Therefore, (and this is the nice part) whoever wins the next election, even if it is Labour, they will be forced to live within their means. No more borrowing. No choice.

Not sure if the bond markets matter now for the UK or US. Their central banks are just printing money to buy government debt.

Here's a much more plausible scenario.

Koalishon struggles to get deficit down to 7-8% by end of parliament.Government debt now around 115% of GDP.

There's enough public sector workers or people dependant on benefits who buy the Labor spiel "debt not high by historical standards,hard-working families etc "to give them a huge majority.

Labor go on huge spending spree (to lock-in the recovery).

You can guess the rest.

[Tired of Waiting]

yep im sure they wont just ramp up taxes, by which time capital will start doing a runner and then Kaput finally

You are mean.

Can't a person just have a little fantasy silver lining any more???

[Timm]

Wont it just be pure unadulterated printy printy?

Then we'll get inflation that makes the one off 2.5% VAT rise look like childs play.

I love unintended consequences. Every time liebour does something to 'help' the poor, it ends up hurting them most. And they still vote liebour!

Course it will probably be PM Balls by then, who'll have probably infiltrated the remaining 1% of the BBC who arent Liebour party apparatchik's so that we're at least regailed with wonderful liebour propaganda whilst we starve/freeze/get turned into kebabs.

The VAT rise drops out soon, so they can get inflation back in range afford to let inflation a bit further off the leash.

[Tired of Waiting]

Wont it just be pure unadulterated printy printy?

Then we'll get inflation that makes the one off 2.5% VAT rise look like childs play.

If they tried that it would last a parliament, and I think they know that, so, I doubt they would do it. They could try the tax-hike mentioned above though.

I love unintended consequences. Every time liebour does something to 'help' the poor, it ends up hurting them most. And they still vote liebour!

+ 1

Though Blair had the right "narrative" in 1997. So, hard to blame the voters then, to be fair. And they weren't too bad in their 1st term, fiscally. But their 2nd term was disastrous. Voters should have voted them out in 2005. Though this didn't help:

Course it will probably be PM Balls by then, who'll have probably infiltrated the remaining 1% of the BBC who arent Liebour party apparatchik's so that we're at least regailed with wonderful liebour propaganda whilst we starve/freeze/get turned into kebabs.

Noooooooo!

Edited June 6, 2011 by Tired of Waiting

[General Congreve]

The UK economy is easy to explain:

From 2002-ish to 2007-ish the personal sector spent 20 years of disposable income in 5 years.

They are now paying back the interest.

Meanwhile, in the public sector GB, in an effort to get people to vote for him probably went on the largest benefit spending spree ever in the developed world. In short, he tried to create a client state, assuring himself that the fianancial sector would generate enoguth cash to pay for it.

While in the private sector, mainly the financial sector, they went absolutely f-ing nuts. The large wholesale operators - investment banks, etc - took advantage of the various ex-mutual CEOs types when they turned up and said' Hello, I'm Adam Applgate, Im a genius I am Hyuck hyuck hyuck'. So Mr Agglegarth, a genius like yourself will see what a great scheme this is etc etc etc. Cue 150 odd years of mutual's capital going !poof! in various cr*pholes like Ashford to some of worse dressed teachers I've ever.

The 'ooh the cuts are too much for the economy are total BS. The UK state is taking in ~51% of GDP and still running a 11% deficit F!F!S!!!.

These are figures from the Soviet Union in the mid to late 80s.

The UK economy will contract. No point denying it. The choices are are 1) Contract or 2) Implode a la Greece, Ireland + Portugal.

Same deal in the States and the EU. Some other interesting parallels with the fall of the Soviet Union are:

1. Bogged down in an un-winnable war in Afghanistan.

2. The US's closest ally and one that is even more dogmatic and ruthless than itself also has an apartheid wall (see East Germany).

3. Riots and uprisings across client states (MENA) that have puppet rulers supported by the US Empire (see Eastern Europe).

4. A burgeoning unaffordable military.

5. Debt, debt and more DEBT.

We all know what happened in the USSR.

Edited June 6, 2011 by General Congreve

[cock-eyed octopus]

I like how aprils borrowing is the highest on record.

If thats austerity, id hate to see what profligacy looks like

Daily Mash talking more sense than the MSM rags, as usual

Cuts attacked by people who think they are a bad idea

THE debate over government cutbacks took a dramatic turn last night after they were attacked by some people who have never liked them.

http://www.thedailymash.co.uk/politics/politics-headlines/cuts-attacked-by-people-who-think-they-are-a-bad-idea-201106063910/

Why anyone other than estate agents would want to go back to 2000-2007 is beyond me too. Oh yes, thats right, they need credit to buy the latest range rover every other year to keep the neighbours impressed.

Thanks for that! The DM is f***ing brilliant.

[RichB]

typical fckin anarchist nonsense

at just 51% theres still room to push the envelope out another 49%

While I didn't exactly lol, I did do a bit of a nose snort...