Corbyn Has A New Adviser

[long time lurking]

http://news.sky.com/story/1650585/ex-greek-minister-varoufakis-to-advise-corbyn

Who said the UK could be another Greece in the making

[R K]

An actual economist who understands how the world works.

If it was Schauble Id be worried.

[spyguy]

He's a bit of a tit, and has very poor tactits ... but he's probably a lot better than the other idiots that Corbyn surounds himself with.

[dgul]

An actual economist who understands how the world works.

Absolutely.

Shame the world doesn't understand how this actual economist works...

[MattW]

Greece is the Word.

[Eddie_George]

[Trampa501]

If he mentions the term "game theory" in his new job, please shoot me.

[repetitive bleats]

He has hired someone with economics qualifications, vast experience in building / running virtual economies for games (these are often very complex and require modelling many different moving parts) and experience in running one of the worlds most challenging real world economies. I'm sure the press and hard of thinking will points this and scream "HAHAHOLDMANCORBYNHASAPPOINTEDSOMERESPONSIBLEFORTHEGREEKECONOMYYOUCOULDNTMAKEITUP!!!"

But the fact is that instead of a school chum, someone with a degree in history or an economist steeped in old thinking/theory - he has appointed someone who understands how economics will probably look in the future. And he loves bitcoin.

[interestrateripoff]

Good choice. I like him.

[PopGun]

He has hired someone with economics qualifications, vast experience in building / running virtual economies for games (these are often very complex and require modelling many different moving parts) and experience in running one of the worlds most challenging real world economies. I'm sure the press and hard of thinking will points this and scream "HAHAHOLDMANCORBYNHASAPPOINTEDSOMERESPONSIBLEFORTHEGREEKECONOMYYOUCOULDNTMAKEITUP!!!"

But the fact is that instead of a school chum, someone with a degree in history or an economist steeped in old thinking/theory - he has appointed someone who understands how economics will probably look in the future. And he loves bitcoin.

No no no he isn't fit to lick the towel folder's boots..

He's a Marxist ..

Student common room economist etc etc

[Odysseus]

I was never too sure about him until I watched his interview on Keiser report were I found him very level headed and clearly intelligent. I don't agree with all his points but worth a watch anyway. Interview starts at 5.33.

[katchytitle]

No one person knows everything. But I agree he at least has a point of view that suggests the Elites are destroying the masses. This story is as old as time, but its been whitewashed from history. He will always be ridiculed by mainstream media but most of his points seem valid - how do you cure a debt problem with more debt? How do you create growth by austerity? How can you ever pay back loans with no incomes? How can one Euro exchange rate actually work for economies in different economic cycles? How can we allow sovereign decisions to be taken by bureaucrats who have a vested interest in more power and centralization at the expense of democracy for the average person?

[Steppenpig]

No one person knows everything. But I agree he at least has a point of view that suggests the Elites are destroying the masses. This story is as old as time, but its been whitewashed from history. He will always be ridiculed by mainstream media but most of his points seem valid - how do you cure a debt problem with more debt? How do you create growth by austerity? How can you ever pay back loans with no incomes? How can one Euro exchange rate actually work for economies in different economic cycles? How can we allow sovereign decisions to be taken by bureaucrats who have a vested interest in more power and centralization at the expense of democracy for the average person?

I used to believe that society (and capitalism) was vaguely fair, but now I realise, of course it isn't. You only have to think of historical situations to realise that the norm is for a self perpetuating elite to suck off the masses. The period from 1950 to 1980 was the exception.

That's not to to say one can't do well fo oneself within the system. Some sort of meritocracy does exist, if one works hard. And many of the people at the bottom of society are "losers".

I think the simplest way to make our elite more aware and responsive to normal peoples problems would be a limit to their salaries, so they had to expeience what the rest of us eperience. Not that it's likely to happen.

Edited March 1, 2016 by Steppenpig

[Assume The Opposite]

Lets see: Osbourne 2.1 in history. Towel re-folder and speech writer

Yanis: PHD etc

Yet the media give Osbourne credibility? Don't make me laugh

Edited March 1, 2016 by Assume The Opposite

[PopGun]

Lets see: Osbourne 2.1 in history. Towel re-folder and speech writer

Yanis: PHD etc

Yet the media give Osbourne credibility? Don't make me laugh

He isn't even a good historian given his actions and apparent lack of foresight or wisdom

[LC1]

It's very encouraging and I do hope that he takes an active role and that his ideas are actually listened to by the Labour top brass.

I've been waiting for Corbyn to lead a convincing attack on Osborne's economic policies, as surely any half competent opposition could rip them to pieces without too much trouble. Hopefully this appointment signals that he might finally have decided to give it a go. I won't hold my breath though.

[Maynardgravy]

I thought this had been on the cards for months???

Or has it only just been formalised?

[EUBanana]

An actual economist who understands how the world works.

If it was Schauble Id be worried.

He understands economics but not politics. Poor naive fool thought the Eurocrats were reasonable people. Or that Tsipras would do whatever it takes to get Greece out of the hole when push came to shove.

[billybong]

It should be interesting to see a Greek person effectively running the UK economy. Couldn't do worse (having said that doesn't mean I'm a supporter of Corbyn or Labour the LibLabCon though).

It all (Carney as governor) just goes to show the apparent lack of economist talent from within the UK and the fact that whatever there is just goes along with prevailing government policies and the UK's relentless economic decline hoping to ingratiate themselves sufficiently to get a government stipend.

Edited March 1, 2016 by billybong

[tyres]

Capitalism will eat democracy — unless we speak up

Have you wondered why politicians aren't what they used to be, why governments seem unable to solve real problems? Economist Yanis Varoufakis, the former Minister of Finance for Greece, says that it's because you can be in politics today but not be in power — because real power now belongs to those who control the economy. He believes that the mega-rich and corporations are cannibalizing the political sphere, causing financial crisis. In this talk, hear his dream for a world in which capital and labor no longer struggle against each other, "one that is simultaneously libertarian, Marxist and Keynesian."

TED talk here...

https://embed-ssl.ted.com/talks/yanis_varoufakis_capitalism_will_eat_democracy_unless_we_speak_up.html

[interestrateripoff]

He understands economics but not politics. Poor naive fool thought the Eurocrats were reasonable people. Or that Tsipras would do whatever it takes to get Greece out of the hole when push came to shove.

That's all because politics has been split from economics even though both are linked. Political economy is a dying art.

[wsn03]

Hmm, despite his Trident issue, me thinks Corbyn really is a very smart cookie indeed. He could just be on to something (populist) here. Interesting. I'll still run like f*ck before they even announce the next election mind, the country is pretty scr3wed.