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Ids Fury At Bbc "carping And Moaning"


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If unemployment is the lagg-iest of economic indices,

It used to be. But that was before the credit bubble detached GDP from reality.

Was rising unemployment in (and since) 2003 an indicator that the real economy had entered recession and GDP was only being held up by tulip-mania in houses and financial instruments?

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Yes, they think that if the government spends a bit more credit into the economy on public sector wages and benefits then demand will rebound and gdp will rise due to busy ports, distribution centres and shops. We'd be cured!

EDIT: I agree with one part...that Plan A was wrong. The government should have targeted reducing private sector debts first. That means spending money into the economy....BUT at the same time repressing private and public wages and benefits and spending money on construction and infrastructure and investments primarily to aid the trade position. It's called a 'STRATEGY' to help rebalance the economy.... rather than cut one bit and hope the other bit fills the gap.

Plan A will lead to ruin, so will plan B. Too late - we've passed the debt event horizon.

If you don't want to have a mess, don't create one over 20 to 30 years.

There is no way we could rebalance without pain. We have gone too far down the wrong road for adjustments.

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They may need to be brave enough to break some of them. Politicos don't like doing that - but it'll happen when forced.

Break our trading agreements? Yeah, right.

We rely on trade for our basics. Not least, to feed a bloated population. Take away trust in the UK, and only the international credit ratings of Tesco, Sainsburys et al will stand between us and famine. And those will be severely dented by the knock-on effect of loss of trust in the state.

In practice I expect Tesco et al will still be able to source food, but it's going to cost. Maybe (wild guess) a tenfold rise in food bills over a couple of months?

And that's before we start looking at energy ...

Edited by porca misèria
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Just like houses. That's the grand plan.

Even if we educated ourselves they would still require a large cash sum down payment to take the exam to prove it.

Why is it just lately the word protectionism keeps popping up in all sorts of places. ;)

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Trouble is many of our international commitments bake into the cake our future.

Europe, GATT, WTO, IMF, free capital flows etc.

They may need to be brave enough to break some of them. Politicos don't like doing that - but it'll happen when forced.

They need to break absurd pension promises and let the next generation get some of the fruits of their labour instead of taking council tax, pretending it's for services, letting the roads go to sh1t and then spending the money on public sector pensions.

Plus the 35K max for care pledge. Bare faced lies.

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They need to break absurd pension promises and let the next generation get some of the fruits of their labour instead of taking council tax, pretending it's for services, letting the roads go to sh1t and then spending the money on public sector pensions.

Plus the 35K max for care pledge. Bare faced lies.

You will have to wait until the good pensions have died with the elderly that are lucky enough to have them and there are fewer working with one than without one......the tables are turning. ;)

Edited by winkie
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You will have to wait until the good pensions have died with the elderly that are lucky enough to have them and there are fewer working with one than without one......the tables are turning. ;)

i doubt youll have to wait that long, if people want to see how well pension promises do in Europe over the next 15 years i think people should see how well pensioners and boomers do when greece gets its sorry ass kicked from Euro Support, they were blingtastic 10 years ago, not looking so hot now and they havent even been ejected yet

Edited by Tamara De Lempicka
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i doubt youll have to wait that long, if people want to see how well pension promises do in Europe over the next 15 years i think people should see how well pensioners and boomers do when greece gets its sorry ass kicked from Euro Support, they were blingtastic 10 years ago, not looking so hot now and they havent even been ejected yet

http://www.economist.com/node/21560312

20120811_EUC787.png

Sustainable?

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I'm absolutely no doubt that people are moving from unemployment status to marginal self employment, funded by working tax credit and also housing benefit. But I think that is arguably a better system than being used as forced labour stacking Poundland shelves and working in charity shops.

Myself for example, via NEA (New enterprise allowance). I am now eligible for working tax credits, I have rung up and asked for the form to be sent out, 4 weeks later it still hasn't arrived. I am contemplating signing on again come next week. I am also applying for jobs. Might have landed some warehouse work, so I might stay on the NEA and combine a bit of self employment, PAYE, NEA and potentially working tax credit? (The big problem with WTC is that I am entitled to very little, and if it is taking them 4 weeks+ to send out a form, before I return it for them to process, it is going to take a long time for me to get any, and presumably they won't pay for the 4+ weeks it took to send out the form).

In a way it kinda legitamises whats already been going on. Supplement WTC from car washing, Ebay or car boot sales rather than unlawfully by supplementing JSA or Income Support.

Some will succeed at it, or get so fed up they find proper jobs. Its a numbers game.

Once the credit bubble is stripped out of GDP, its not unreasonable for the economy to shrink and at the same time create jobs. However I don't expect a fundamental analysis of the changing structure of GDP from the BBC, and least of all from Flounders, or even admittance that all growth under Labour was due to unsustainable credit expansion (public and private).

Our GDP measures are very strange indeed, just numbers, not really a representation of wealth.

In China 300 million people smoke.

Over here 10 million or so smoke.

China produces and consumes 1/3 of world tobacco. Collects £20Bn in tax.

We consume a tiny fraction and produce nowt. Collect £12Bn in tax.

Their GDP figures for tobacco are relatively small, but their wealth in tobacco is great.

Our GDP figures for tobacco are very high, but our wealth in tobacco is low.

Same with houses. China has empty cities. We have overcrowded slums.

Yet we are a 'developed country' and they are 'developing'.

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Seems to me that there's loads of reasons why GDP may fall at the same time employment rises. Off the top of my head:

1. wages are falling in many sectors - if the average cost of a worker drops by 10%, you can hire more without hitting your bottom line.

2. the inflation numbers are out wildly - GDP figures are inflation adjusted don't forget.

3. many middle class types have gone from employment to self-employment as 'consultants' earning just enough to not show up in the figures.

4. reducing unit labour costs relative to other countries (due to sterling depreciation) means that companies have bought jobs back on shore.

5. GDP measures are wrong and the economy really is growing.

6. Fewer full time, but more part time jobs.

etc.

Not saying that any of these is specifically true, but the list is clearly endless. Anyone that says it's down to one particular item is clearly not interested in the truth, and just trying to point score.

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No one believes statistics quoted by Conservative ministers.

Directly I hear a Tory MP open his mouth and boast a statistic, I automatically think "he's lying". . I might be wrong about that, but that is my impression. If it's even half correct, it means the Conservatives have a big PR problem.

The BBC also have a big PR problem: their financial analysis is believed.

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A lot of our TV programs come from the same source.

Mentorn do Question Time, Panorama, The Big Questions, Free Speech, etc

http://www.mentorn.tv/programmes/categories/current-affairs.aspx

They also do C4's Cutting Edge, Dispatches

Mentorn are part of the Tinopoulis Group that are headquartered in Llanelli. Their people page

http://www.tinopolis.com/home/people/ron-jones.aspx

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I watched BBC news today about the balcony appearance of Julian Assage. They only showed the parts where he critised the Americans. No mention of any naked scalps or his pathetic attempts at sending police officers on a failed mission at the rear of the Ecuador embassy. I think he should be grateful the so called balanced BBC is scared stiff of the Conservatives. All other news sources showed the absent, or omitted or censored portion of this report.

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Ms Flanders, 44, is the daughter of British actor and comic singer Michael Flanders, of Flanders and Swann fame.

How ironic - her father made a career out of writing songs that celebrated conservatism (with both a small and large C, in many cases), attacked multiculturalism (A Song of Patriotic Prejudice), political correctness (Have Some Madeira, M'Dear), European political union (All Gall), made jokes that only people who'd had at least a grammar school education stood any chance of getting, and therefore also ticked the elitist box (Ill Wind, First and Second Law of Thermodynamics) and even wrote one song attacking house price inflation (Sounding Brass)!

I wouldn't be surprised if pretty much his entire output is now banned from broadcast by the organisation that now employs his daughter.

Edited by The Ayatollah Buggeri
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  • 2 weeks later...

http://www.dailymail.co.uk/news/article-2190412/IDS-fury-carping-moaning-BBC-report-casts-doubt-jobs-boost-He-accuses-Stephanie-Flanders-peeing-British-industry.html

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No surprise to us at HPC where we have realised BBC economics news is run from New Labours front bench. Wasn't Flounders once in a relationship with the awful Balls creature? Also..

laugh.gif

...the UK has the fifth largest tourism industry in the world generating in the UK economy £114bn per annum supporting 2.65m jobs..see...Link ...and is seasonal ...the second quarter is 'take labour on time'....Flanders needs to go back to school..... :rolleyes:

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  • 433 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% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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