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interestrateripoff

Now Balls Says Labour Will Borrow More: Shadow Chancellor Says It Would Be Foolish To Rule It Out To Pay For Infrastructure Projects

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http://www.dailymail.co.uk/news/article-2347079/Now-Balls-says-Labour-WILL-borrow-Shadow-Chancellor-says-foolish-rule-pay-infrastructure-projects.html

Labour is prepared to borrow yet more money to pay for increased public spending on infrastructure projects, Ed Balls insisted yesterday.

The Shadow Chancellor said it would be ‘economically very foolish’ to rule out increasing borrowing to fund roadbuilding and other projects.

His intervention came after Labour leader Ed Miliband used a weekend speech to try to boost his party’s credibility on the economy, admitting it would not be able to reverse any of the Government’s spending cuts unless savings could be made elsewhere.

Chancellor George Osborne will use Wednesday’s spending review to set out plans to invest an extra £15 billion in capital spending over the course of the next Parliament.

"Other" projects, ie money liebour want to waste on creating pseudo-growth figures?

Still when the taxpayer picks up the interest bill for your house what does it matter what you do to the economy.

Edited by interestrateripoff

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which Health Authority Managers are retiring this year with £500,000 gagging payments?

Those who issued these are criminals, as are the acceptors.

Yet, all we do is have an enquiry and a minister who considers it best left alone.

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Ban everything that does not adhere to health and safety.

Keep on war mongering.

Keep on with the goal of a complete police state, slap down another billion on id cards.

Set up billion pound advertising campaigns to lie to people.

Throw billions at anything that looks nice.

Increase inflation.

Keep house prices high.

Make loads of expensive mistakes.

Leave it all the for the next generation to deal with.

The Labour Party, they couldn't run a piss up in a brewery.

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Ban everything that does not adhere to health and safety.

Keep on war mongering.

Keep on with the goal of a complete police state, slap down another billion on id cards.

Set up billion pound advertising campaigns to lie to people.

Throw billions at anything that looks nice.

Increase inflation.

Keep house prices high.

Make loads of expensive mistakes.

Leave it all the for the next generation to deal with.

The Labour Party, they couldn't run a piss up in a brewery.

and the difference between the Parties is......?

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I've only seen a Blanchflower tweet, not read the ft article but...

But bemoaning the uk cut too hard and how our deficit will soon be double that of Greece.

Let's ignore the order of magnitude greater austerity inflicted on Greece to shrink their deficit shall we?

Can someone read the ft and paraphrase? Is he arguing we follow Greece? Logical conclusion from his tweet

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'To a nation, security is the greatest of advantages. If, in order to obtain it, it is necessary to have an army of a hundred thousand men, I have nothing to say against it. It is an enjoyment bought by a sacrifice...The error begins when the sacrifice itself is said to be an advantage because it profits somebody.

Now I am very much mistaken if, the moment the author of the proposal has taken his seat, some orator will not rise and say - "Disband a hundred thousand men! do you know what you are saying? What will become of them? Where will they get a living? Don't you know that work is scarce everywhere? That every field is overstocked? Would you turn them out of doors to increase competition, and weigh upon the rate of wages? Just now, when it is a hard matter to live at all, it would be a pretty thing if the State must find bread for a hundred thousand individuals? Consider, besides, that the army consumes wine, clothing, arms - that it promotes the activity of manufactures in garrison towns - that it is, in short, the god-send of innumerable purveyors. Why, any one must tremble at the bare idea of doing away with this immense industrial movement."

...A hundred thousand men, costing the tax-payers a hundred millions of money, live and bring to the purveyors as much as a hundred millions can supply. This is that which is seen.

But, a hundred millions taken from the pockets of the tax-payers, cease to maintain these taxpayers and the purveyors, as far as a hundred minions reach. This is that which is not seen. Now make your calculations. Cast up, and tell me what profit there is for the masses?'

Frederic Bastiat, written in1850.

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Let's ignore the order of magnitude greater austerity inflicted on Greece

So what "austerity" would Greece have if there had been no bailout?

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'To a nation, security is the greatest of advantages. If, in order to obtain it, it is necessary to have an army of a hundred thousand men, I have nothing to say against it. It is an enjoyment bought by a sacrifice...The error begins when the sacrifice itself is said to be an advantage because it profits somebody.

Now I am very much mistaken if, the moment the author of the proposal has taken his seat, some orator will not rise and say - "Disband a hundred thousand men! do you know what you are saying? What will become of them? Where will they get a living? Don't you know that work is scarce everywhere? That every field is overstocked? Would you turn them out of doors to increase competition, and weigh upon the rate of wages? Just now, when it is a hard matter to live at all, it would be a pretty thing if the State must find bread for a hundred thousand individuals? Consider, besides, that the army consumes wine, clothing, arms - that it promotes the activity of manufactures in garrison towns - that it is, in short, the god-send of innumerable purveyors. Why, any one must tremble at the bare idea of doing away with this immense industrial movement."

...A hundred thousand men, costing the tax-payers a hundred millions of money, live and bring to the purveyors as much as a hundred millions can supply. This is that which is seen.

But, a hundred millions taken from the pockets of the tax-payers, cease to maintain these taxpayers and the purveyors, as far as a hundred minions reach. This is that which is not seen. Now make your calculations. Cast up, and tell me what profit there is for the masses?'

Frederic Bastiat, written in1850.

it is the broken window fallacy of course.

inflation hides this little fiddle quite well.

and more importantly, the GDP looks great.

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they really do think we're simple.

lets pay for all our own public works projects/bread and circusses etc

leave the ovides squabbling

etc etc.

we've seen this before, we've studied history.

change the feckin record.

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So much is wasted and there is very little to show for it.....about time they spent more on creating jobs and creating new projects that will leave a future legacy that will be seen and will be used.

Ring-fence the NHS by all means but cut the huge waste it generates by doing things differently sharing resources see that it is the patients that benefit from the efficiencies the people it is run for, not the people it is run by. ;)

Edit to say: There was someone on the radio that was saying that pay should be linked to performance instead of everyone getting a pay rise in-line with length of service service, or for just being there....the ones who put the most into it should get the most out of it, otherwise some may and do sit back and still get paid for turning up, not wanting to be there and wanting to do as little as feasibly possible.....in the wrong job perhaps?

Edited by winkie

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  • 238 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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