Economics 101
Writing behind the paywall for mass appeal, Ed Miliband told the Times this morning that: “Labour is not to blame for Britain’s debt mountain and accuses David Cameron of peddling a “great deceit” about the previous Government’s record to pursue a damaging programme of cuts.”
He claims:
“What is this deceit? It is that the deficit was caused by chronic overspending rather than a global financial crisis that resulted in recession and a calamitous collapse in tax revenues.”
Last time he made such absurd claims the Spectator provided Red Ed with this handy graph. Perhaps he could explain then why the last government was spending more than it was bringing in from 2002?
If he gets stuck perhaps he could ask Alan Johnson…
C’mon Ed….spill!
There is no deficit. Liebour abolished them.
who were you again?
The public talks about him as much as me these days.
Oh yes!
I used to love PRUDENCE before Red Ed and the unions made me ditch her!
Mr Cameron upped the political ante on bonuses by saying that no one at banks that have taken money from the taxpayer should be paid a bonus worth more than £2,000.
Tory leader has also suggested that bankers should do charity work to apologise for the credit crunch and called for more “morality” in the market.
Cameron should also suggest that the members of the last Labour government should do time as atonement for the unprecedented level of debt imposed upon the nation.
The shameless thieving political class calling for more morality – oh the irony
In the Independant, Billy Bragg (Remember the Red Wedge) is quoted, from his million pund estate in Dorset, as saying a political party “… are a busted flush, their divisive politics rejected by the electorate at the last election, their organisation now collapsing into in-fighting”. Is he talking about Red Ed’s bunch of nutcases?
Labour always waste all the money, their track record proves it.
IT’S GEORGE OSBORNE!
Isn’t that Rory Stewart? The gay Etonian who’s always peddled by the MSM as the next great thing in the tory party. Yeah, right…
No I think its Tristram Hunt
Looney Leftie ALERT !!!
RIGHT WING WONK EPIDEMIC
allo titfer, I knew you’d be back despite your humiliation yesterday!
WRONG PERSON AGAIN FUCKWIT!
HAHAHAHAHAHAHAHAHAHAA!!
He was certainly made to look a right c*nt…..
projecting again gump
now run along and suck Eric Pickles piggly wiggly cock little doggie
I wasn’t on here yesterday; there’s more than one of us you know?
Just here to remind you that the daily mutual secretion/absorption of bile that takes place here is actually an esoteric addiction.
Glutton for punishment. ain’t ya gump…?
you mean to say many of the comments here are deliberately winding up and taking the piss out of these far right fuckwits ?????
NO!!!???!? Surely not ????
Ha ha ha ha ha !!
There’s more than one of us?
We know, your sockpuppets are Legion.
Far Right Fuckwit ALERT !!!
spacker ALERT!!!
Gotta go, Call Me Dave’s on the telly.
Fuck off Toilets Maguire.
And I claim my five pounds.
Georgie Porgie pudding and pie,
Kissed the girls and made them cry
When the boys came out to play,
Georgie Porgie ran away.
‘appen he didn’t run away as Mandy will tell you,, now if you will excuse me I’ve got a spad to bed in ba goom!
The results were better than prediction but with cuts it is becoming worse. Only way out of this is high inflation, printing money, low interest rate and low salary increase. Other countries even with higher debt as a % of GDP is growing, Singapore 15%. But we are debating whether we are going to have double dip or not.
Just look at BP they cut expense and fuck the company. BP though the company will be valued more with cuts but the reverse happened. Just look at the prison where there were few guards, look at how much it is going to cost to rebuild what was burnt.
So, don’t rebuild it. Let the arseholes live in the squalor they have created!
Oops, you beat me to it.
These arseholes will just go in and out as they like, when they are out they will be rubbing people near by. These arseholes might even sue the government and get compensation for keeping them under bad conditions.
not to worry … fat Ken will let all the criminals out anyway … libcons are soft on crime and soft on the causes of crime …
“look at how much it is going to cost to rebuild what was burnt.”
Solution: don’t rebuild what was burnt.
The lags burned the roof, let them sleep under the stars with Mr J Frost.
Good thing I won’t be locking all those criminals up any more.
…or let the lags labour for the builders as part of their sentence for burning it down.
It isn’t rocket science, is it!
Deliberate high inflation to devalue hard working families’ saving? They tried that in the Weimar Republic and ended up with Mr Hitler. They have it in Zimbabwe and have Mr Mugabe.
BP’s problem can be put down to using American personnel and contractors. All fucking cowboys. The “cuts” (not that I know of any having worked for BP for 15 years) had fuck all to do with the Gulf disaster.
It was all part of the CVP (Capital Value Process, Process, Process, Process . . .)
That BP?
Process over experience did not help BP much, did it?
Shouldn’t you be in the morgue?
This is what they did even after WWII in all the countries including USA and UK; high inflation low interest rate. This is what they are doing now, it is the only option (just look at Osborne, he always talk about low interest rate and how successful he is on keeping interest low). Just look at interest rates paid for the war bonds.
Gulf disaster happened due to cuts.
According to the US report it was due to “poor management”.
I’ve agreed to let Obama shit on my face as penance.
Smoggie, idiots on management were cutting recklessly.
Risky cost-cutting decisions by BP were to blame for the catastrophic Gulf of Mexico oil spill, a US presidential panel investigating the disaster claimed last night.
In its final report on the causes of the larges offshore oil leak in history, the White House commission said the British oil giant sacrificed safety for bigger profits.
But unlike some earlier post mortems into the spill, the panel’s 48-page report also blasted safety practices of US contractors Halliburton and Transocean, the rig’s Swiss-based owners.
Read more: http://www.dailymail.co.uk/news/article-1344535/Systemic-failings-BP-blamed-oil-spill-presidential-panel.html#ixzz1AG0cGp3D
“British oil giant”
The “B” doesn’t stand for “British” anymore. BP merged with AMOCO of America in 1998.
“Other countries even with higher debt as a % of GDP is growing, ”
And some (Greece, Zimbabwe etc.) are completely f**ked.
Other countries with a much smaller national debt (austrialia and nz) are also growing.
Double dip? That is so 2010. We’re talking triple dip pal!
Has old toenails been sacked, his last blog was 22nd December.
The BBC always gives its overpaid presenters very long holidays to coincide with school terms. It takes a long time to travel to and from their Caribbean and Indian Ocean luxury holidays (courtesy of the licence fee payers).
Or mp”s holidays
Fucking hope so. Useless workshy censorial bastard that he is.
If you use your imagination, you could pretend that Denier Ed had become elected PM at a point in the future. After QE of 1000% of GDP had been created overnight, the international markets react appropriately and the inevitable happens: A jet lands at Heathrow with the IMF aboard.
Cue Ed at Downing Street interviewed by the BBC: “No! Of course it is not the IMF! Who started that one off? It is the board of Disney come to create a new theme park.”
Good thing I stopped QE.
Oh that’s right, I didn’t and I’m keeping it going.
Ladies and Gentlemen, I give you David Cameron’s sockpuppet. Just in case anyone wasn’t aware.
The fact is that no QE has been instigated by the coalition – yet.
We will have to see whether it happens – and it might …
Nevertheless, don’t let the facts get in the way of your crack-induced rantings, you senseless prat.
Ladies and Gentlemen, I give you a Belgian nonce who said on this site that he would “love to get his hands on a child”. Just in case anyone wasn’t aware.
And your weasel words fool nobody you Belgian nonce. They didn’t start it but they supported it and have given the BoE Governor their blessing to keep it going if and when he decides to.
Unlike you to give any credit, “… they didn’t start it …”. Crack must be bad today.
And the risible words, “… but they supported it …”. They had no option, you spastic. What were the coalition supposed to do? Write it off?
Go see a shrink.
“They had no option”
WRONG!
I know you don’t actually live here you Belgian scumbag but try getting your facts right.
October 2010
George Osborne last night signalled that he would back a request for a fresh wave of money creation from the Bank of England if Threadneedle Street felt it was needed to boost growth.
Amid signs that the economy has cooled since its strong growth in the spring, the City believes the Bank may seek to join the US Federal Reserve in reviving its quantitative easing programme after this month’s tough public spending announcement.
Osborne, attending the annual meetings of the International Monetary Fund and World Bank in Washington, said he would support any call from Mervyn King, the Bank governor, for more QE.
Note the words “support” and “back” you thick cun’t.
Which proves just how retarded and full of shit you are.
Go turn yourself into the Belgian police you nonce scum.
I can see the flecks of spunk filled spittle from here, you fucking weirdo.
Why do you constantly refer to p*edos and nonces..? It is obviously a subject which is constantly on your mind.
Do you dream in p*edos or something…?
I knew a witless gump like you would be the first in the queue to cup the balls of a Belgian nonce. You can’t help being a sick far right fuckwit who rants and foams at the mouth saying you dream of pedos while you admit they are on your mind all the time. You just can’t help telling everyone how much of a sick pervert you are.
Your method of argument is laughable, still it must be hard to form an answer with a 2 figure IQ.
Do you dream in p*edos or something…?
Go on, try and twist that again.
The thread needs the LOLz…..
Gump is in grooming mode asking everyone if they dream of pedos like he does… what a sick bastard…
Thanks cp and others. This weirdo gump, with his IQ of two (that high?) clearly cannot differentiate between the contingent and the actual but it got him quite excited didn’t it? The fact is that the coalition has not created any QE of its own instigation yet, although as I made clear, I fear they might.
I hope, in respect of his obvious backwardness, that his clear p4edo preferences are restricted to his imagination, and probably also his hard drive, rather than that some poor kid is being subjected to his unhealthy advances.
He cannot be a very happy bunny if his whole life is consumed by the creation of this drivel. Tough shit.
I thay thiff is thimply not cricket.
Daddy said I was good, Daddy said so, Daddy daddy!
The money’s run out – good luck !
This thead has formed a life of its own … let’s give it another gentle shove …
LABOUR ARE NOTHING – - – - – if not the party of denial.
Trying to bribe the electorate doesn’t come cheap you know!
Guido, the graph tallies exactly with Ed Miliband’s analysis. Look at it again: the deficit was actually reducing between 2004 and 2008. After that, the deficit falls because revenues go down dramatically: spending is almost right on trend levels.
Nouriel Roubini you ain’t.
Guido, you can forget a K, from either side
Labour now lying anout their lies.
“If you look at the effects of sales tax, it’s very regressive, it hits the poorest the hardest. It does, I absolutely promise you”
I would probably do something with the NI stuff. 50/50 60/40 80/20. It’s all a bit confusing.
David Cameron can’t count, which is why he did a PR job instead.
Frazer’s article in the Speccie is very good.
Cheers
Have some house points and a gold star!
Does the debt include PFI, no it doesn’t? Add another £80bn.
Bloke’s a bloody fool. Won’t matter though, nobody will read it anyway!
True, nobody will read it but I bet the BBC will repeat it ad nauseam without comment in the hope that the Moronic Community will take it as read.
Is that thing what they call a graph then ??
No. Steffi married Aggassi. That’s a Graph
Economics for Dummies talk about graphs in chapter 2, I’m sure Postman Pat will get to that chapter soon.
He can’t as his copy of ‘Economics for Dummies’ has been lost in the post
Balls still has it, gathering dust next to his wife’s chastity belt key.
With a face like hers, she doesn’t need a chastity belt.
I probably would though, I probably would. Nurse!
Postman Pat had a pussy
That’s me sunk then.
Vell, vat do you expect Langsdorff? There you go, off for a nice holiday in Montevideo and look vat happens!
It sure is Pat and it shows quite clearly that where you maintained the previous government’s economic policies for the first couple of years (as you swore to do to help you get elected), it was all going quite swimmingly. Exit Prudence. Enter Calamity!!
Miliband is so incompetent he couldn’t be trusted to tell you the time. And still 35 – 40 per cent of the electorate support Labour. When does the tipping point come at which it is simply not worth living in the UK any longer?
“When does the tipping point come at which it is simply not worth living in the UK any longer?”
…..about 14 years ago!
Actually it’s been that way for most people since 1979 when the first of the line of traitor governments was elected. England is already a total shithole but it will be getting even worse before people start taking revenge on the ruling classes – but that will really be fun.
Many regard Heath’s as far more a ‘traitor government’ than the 1979 one.
True up to a point but he didn’t actually hate England – he hated America.
better than Blair or Dave’s arsekissing
Very sensible of him.
Ah! The days when even compromise was compromised …
To right mate. In the CWu we used to have 300,000 members and every weekend off to watch the footie. Strikes if we didn’t .
Up the shirkers.
Just as well Brown and co wanted Base Rate falling to 0.5%, made it so much easier to fund their attempts to buy votes.
It won’t look good once Base Rates start shifting upwards.
I am not a deficit denier – there isn’t one.
Now Now Milliband, that’s not your real name is it!
It even underlines in RED on the spellcheck!
No its Miliband.
He’s such a clown-worse than Foot,who was at least a decent fellow personally.
The coalition must love him.What induced him to refight old defeats?
“was at least a decent fellow personally.”
…and he was always kind to his dog!
I read somewhere that if the Nazi’s had invaded then Footy was to be despatched on a killing spree of Nazi sympathisers. Sorry, rather vague but it kinda made me think he must have been a decent bloke at heart.
I think he was to be bumped off BY the incoming Nazis. For being a left wing intellectual.
Yeah, think you’re right. No google confirmation so mae culpa.
So decent in fact, that when one of his lefty chums raped his wife, he told her to not make a fuss and never mention it again. She duly obeyed his instruction and there after, supported his ambition to turn this country into a communist ally.
“If he gets stuck perhaps he could ask Alan Johnson…”
Don’t ask a fucking no nothing commie postman, please.
Capitalist bastards.
Guy Fawker said I’d be sacked by now.
oh dear!
Sacked or neutered, Little Vince? I think you would have left yourself with a little more honour if you had been sacked.
I said I was unsackable.
Who’s laughing now ?
Yes Vince – but you are certainly missing a pair now aren’t you?
I’m not the one who loooks a wimp because he didn’t have the balls to sack me, you’re thinking of Wavy Davy.
What’s twenty percent of eight? Hmm, errr, ummm, ahhh, ohhhh, hummm….
How does Red Ed actually say this rubbish with a straight face?
Like all socialists – tell a big lie long enough & to them it becomes a “manufactured truth”.
I suppose Red Ed feels that the future is his now that Communist China has made the first 6 billion installment on EU ownership.
The EU, which Dave Cameron fully supports, has been thrown a Chinese lifeline to keep their commie ponzi scheme going for a little longer.
No wonder neo communists Baroness Ashton & Emporer Barroso look so happy & smug this morning.
Thank Dave for that lovely £7bn of your taxpayers money he gave us to bail out the Euro. Begorrah!
Whilst Europe slept…….I cannot believe the people of the Europe have not said a word about this Chinese takeover. It is a ponzi scheme – squeezing a few more years out of a failed federalist dream by hocking the future to China.
We need to keep Dave Cameron and the New Conservative Party in check regarding joining the Euro – it has to be resisted at any and all cost now.
It must be true, the bbc continually report it.
and Red Ed is of course related by marriage to the good and fine Baroness
+1
There’s a world of political difference between “no plans to raise VAT” and “we will not raise vat”.
the difference between truth and weasel lies
A bit like the difference between Lisbon and another treaty!
like twat tvat
…Who is Michael Flatley?
Excellent! Tell it like it is Paddy. Not a BBC interview however, no interruption when he was in full flow.
perhaps it had quite a bit to do with getting a look at the labour govts secret books (once he became PM) where so much debt is hidden. the NAO refused to sign off labours books due to all the fiddles
You were right after all, shame you are not a Lib Dem you could have kept your job.
Mr Brown had no plans to, although his Chancellor did.
Mr Miliband has no plans. Period
Mr Johnson is a bit muddled as to what the alternative would be and if it’s 60/40 40/60 20/80 or 80/20
Johnson currently thinks it is 70/43.5
But chapter two may help him on this.
If it was written by Dave Blanchflower or Robert Peston, I doubt it.
You are, of course, quite right. It would descend to 67.5/48.675
If he gets stuck perhaps he could ask Alan Johnson…
erm.. Ok. Lets study that graph in detail..
Lets see.. blue line..blue line..is it like wiring a plug? That’s the Neutral revenue then..So red is live. which must be income …so ..I’ve got it Ed. the yellow bar is the Earth!
No, Alan, it’s First Class, Second Class and Special Delivery. (Oh, and by the way, it’s not First Class, Second Class and kick-it-under-the-bench.)
Hmm….Wat has left the building. Damn shame.
Because we are blameless and toryboys love to lick our boots.
It didn’t, however, shoot up to planned levels of near 100% of GDP (as it is planned to in 2014), and we didn’t have all the off-balance sheet extras like PFI which multiplied heavily under the last government.
It is off into the stratosphere, Engineer. I do not believe it can ever be got back. The current timidity enforces my view.
About the only decent solution I can envisage is a lengthy, sustained period of high growth combined with firm restraint on public expenditure, and a concerted effort to use the proceeds of growth to pay down debt. Human nature and world economic uncertainties being what they are, I’m not holding my breath.
Even if this Utopian situation were to occur, however many years would it take to pay the debt down at its present level? (Include off-balance sheet stuff for reality.) Fifty years, maybe?
Quite. It’s a more palatable solution that inflating out of trouble, that’s all.
In practice, I suspect that the management of the national economy is going to have to adjust to servicing high debt levels and allowing controlled inflation to slowly erode the debt. The lessons will be forgotten in about a political generation’s time, unfortunately, and spending will start to creep up again.
On a personal level, it means working harder for longer and finding reasonably inflation-resistant savings vehicles. For those of us on relatively modest incomes, that’s a hard ask.
How long to pay off the debt?
6 months. Just get us out of the EU. Take back the power to create money from the bankers and give it to the elected Parliament. electronically create enough Government issued notes to pay off the debt and then close the bank of England. Then we should Execute the central bankers then transfer to a new system of sound interest free money regulated by population size and national need, to create just enough money in circulation to have a low inflation, debt-free economy.
Radical, and simple.
And how much do you think all the quantitative easing is going to cost us? Think that’s free do you?
Hmmmm, misterned. Sounds rather like the Nicolae Ceauşescu school of economics.
Dont talk shit all your life.
PFI and PPP are still there and Cameron is already planning super costly new computer schemes with EDS using them.
Piss off, Troll. Your lot fucked the economy; you’ve got no right to sneer at others.
Go fuck yourself you Cameron lickspittle.
Brown and New Labour are as big a bunch of cun’ts as your lot you spineless Party poodle.
@ Caught talking etc.: No one listens to you, bed wetter.
And who’s going to listen to a Belgian nonce scumbag like you who said on this blog that he’d “love to get hold of a young child” ?
You confuse child abuse with mercy killing. But then you confuse anything. Piss off, you chemical toilet outpouring.
So now you want to KILL young children you filthy nonce scumbag.
Time to stop digging yourself deeper you Belgian abomination.
What a sad, lonely prat you are smongcrete tat!
You are a wonderful example of everything that is shit in Great Shitland!
You interpret my remarks exactly how you please, mate.
You normally do anyway. If you don’t like your own interpretation, you are always free to go and complain to the authorities.
They will end up locking you up in all probability.
Perhaps he could ask Liam for his explanation…..tossers the lot of ‘em!
Er, there’s no money left …..
Those in glass houses shouldn’t throw stones. You’re ignoring all Liebore’s off balance sheet expenditure, such as PFI. The government’s true position deteriorated badly under Labour – never mind the raiding of pension funds which buggered private savers as well.
Seconded
Cameron plans to extend PFI and PPP dumbo.
if ded ed believes that then we are in te trouble the u.k had 75% of credit card debt in europe . house price inflation and goverment over spend plus a game of financial roulette played between newyork and london to prove who was top dog . ask the continentals where the rot started and they’ll tell you ed milliband is either a delusional liar or a complete incompetant, take your pick. trouble is the electorate egged on by idiot coulmnists like kevin maguire actually believe it -any way who cares whose to blame were in debt and thats an end of it unless of course he doesnt believe that either
The UK entered the Global banking crisis with a structural deficit;weak financial regulation and a booming unsustainable consumer credit boom all created by Brown’s incompetent mis-management of the UK economy for the 10 years he was Chancellor…the Global banking crisis merely made a bad situation a lot worse.
So every time a Labour “shill” in the media or elsewhere tells you that the spending cuts;unemployment,VAT rise etc are the fault of the Coalition it’s a downright lie…there is only one man responsible for the UK’s economic disaster and that is Gordon Brown . The Labour Party and a lot of the present shadow cabinet also were to blame for letting Brown loose on the economy without stopping him even though they knew he was “mad,bad and dangerous” as one ex-Labour Minister fondly told the media after the election….. so let’s hear no more of this nonsense from Brown’s economic policy adviser…one Mr Ed Miliband shall we ??
You can add comments to Ed’s deceitful piece here
http://edmiliband.org/2011/01/06/deceit-about-the-past-endangers-our-future-times-article/
Go get ‘em, Ed !!!!
He can’t. He exhausted himself stabbing me in the back.
Look Ed , ” The problem with socailisim is that you always run out off other peoples money” .
Simples !
that’s right comrade
twitter twat alert!
^Twat Alert^
But put against 12 years of a money-hungry labour government, it pales away into insignificance.
The Global financial crisis that did not however greatly effect China, India, Canada, Australia, New Zealand, most of Scandinavia, Hong Kong, Brazil, Russia…got about 3/4 of the globe there by population and land mass.
affect, when de-modded.
Better late than never I suppose.
Oh do fuck off and get your own moniker.
What’s the matter, little socialist? Do I scare you?
Guido – can you block this twits IP address, please?
Don’t confuse the Guido’s gaydos with facts.
And why where so many countries unaffected ?
“Repeat a lie often enough and some people will believe it”: at last we know what is written on their used-to-be blank sheet of paper.
The stupidity cunts, and their mouthpeice the BBC is simply staggering.
missed ‘of these’, too busy encoding the ‘c’.
I thought it read quite well as you originally posted it, Mike!
Ditto
McRuin was the mastermind behind the de-regulation of mortgages allowing NINJA’s access to 125% mortgages – all in the name of equality, so that everyone, regardless of their income, savings or feckless fiscal history, could get on board the housing ladder & feed the bad debt housing crisis bubble that was bound to result from his lunacy.
McRuin destroyed the equity in Britains private pensions by taxing them into poverty.
McRuin sold the British Gold Reserve at rock bottom pricves AFTER telling the market he was going to sell.
McRuin kept billions in taxpayer liability off the books through corrupt practices – such as PFI.
McRuin skewed the rules regarding borrowing – allowing Labour to turn the british working class into welfare junkies in order to support their immigration target – a target that was meant to import Labour voters to change the demographic of Great Britain forever.
And finally, like all Labour leaders before him, when he had spent all the money, taxed all he could, borrowede to the hilt he resorted to turning on the priniting presses.
Sall I continue Tom – or is the reality buzzkilling your high?
Thank you, M-m-m-m-m-m-m-m-mister Squeaker, I commend all my Budgets to the
binHouseI recommend a strong smelling curry.
Oh yes!
@RRW (Mrs).
“McRuin was the mastermind behind the deregulation of mortgages allowing NINJA’s access to 125% mortgages – all in the name of equality.”
The original mastermind of this plan was President Jimmy Carter, Bill Clinton continued with it and George ‘Dubya’ was left with no alternative but to implement it.
McRuin was correct when he said ,”it started in America.”
The only masterminding McRuin did was to sell the gold and I have to thank him for his announcements.
“George ‘Dubya’ was left with no alternative but to implement it.”
Hahahahahahahahahahahahahahahahahahahahahahhaaa!!!
+1. Excellent summary.
+1. Excellent excuses.
Yes, evil nasty bankers forced me to borrow more than I was taking in tax revenue, from 2002 to 2010.
Evil nasty bankers made me do it.
what’s a credit crunch ?
Yes, evil nasty bankers forced me to match Labour spending before the crash. Evil nasty bankers made me do it.
David Camerons face looks like an arse with some eyes on it.
must be why Clegg sits on it all the time
I refer the supporter of Bolivian nasal products to my post above.
but enough about me and George
sniiiiiiiiiiiiiiiiiiiiiiiiiiiiiiff !!!+++!! Top hole old chap!
Bollocks , Education = Fucked , Nhs = morgated to the hilt , Iraq, Lisbon treaty .
You are meant to serve us , Not other way round , now fuck off !
Before the 2005 election, the IMF was chriticising the Govts borrowing. The msm would not report this as it might have affected Labour’s chances at the election. just shows how bent they are, and the BBC still is.
Just a serious comment for a change!
Just a serious link for a change…
http://biased-bbc.blogspot.com/2011/01/taxing-times.html
Maybe its you who needs to get back in the lecture theatre guido. Take a look at the borrowing line up to 2008.
Before that spending increased but so did tax receipts.
“Before that spending increased but so did tax receipts.”
Because of the trillions of pounds flying around the banking and finance sector as the international fraudulent mortgage backed ponzi schemes accelerated out of control.
Had labour had the intelligence, wisdom and courage to issue effective and appropriate regulation, then the ponzi scheme would not have had as much ability to gain traction here.
As a down side of that for labour, IF they had not relied upon the finance sectors ponzi schemes, then the tax revenue would have been lower, far fewer people would have been able to be conned into taking out un-needed mortgages to use extra equity as luxury income, because property prices would not have increased as far, or as fast, and the economy would have slowed far sooner, robbing Brown of being able to claim credit for the longest consecutive quarters run of growth figures, (which started in 1993 under the tories). We would have gone into a recession sooner, but it would not have been as deep, or for as long.
and the tories would have regulated them
like fuck they would
Happy New Year Dave, from Boris: London Mayor attacks PM over migration cap and 50p tax
Boris Johnson today fired a broadside at David Cameron – with a warning that Government policy on tax and immigration risks harming the economic recovery.
In a New Year warning to the Prime Minister, Mr Johnson said retaining the 50p top rate of tax would make the British economy ‘uncompetitive’.
I will not only keep the 50pc top rate of tax, I’ll make it permanent. Even if we don’t actually need the money – I’ll just think of new things to piss it away on.
Too late Ed. I’ve already said it’s permanent.
No, you haven’t.
When it comes to wrecking the economy, I’m your man. That’s why even Labour didn’t vote for me as leader.
20 per cent VAT is here for good: Osborne’s warning as tax rise leaves shoppers bewildered
The Chancellor said this week’s controversial sales tax rise from 17.5 per cent to 20 per cent – which has triggered anger from small business leaders and confusion in shops – was a ‘permanent’ move
http://www.dailymail.co.uk/news/article-1344191/
Oh dear! Looks like you’re full of shit you lying fucking retard.
http://www.bloomberg.com/news/2011-01-06/u-k-s-osborne-to-call-on-eu-to-bolster-banks-reserves-to-aid-in-recovery.html
“The eurozone must follow the logic of the single currency and stand more convincingly behind the euro,” – Chamcellor George Osborne
Blue Labour out.
‘Fares are through the roof, travellers ( sic ) will be expected to pay through the nose’.
Is this the latest variation of the Oyster card ?
It’s Sue’s fault, I blame her
Labour inherited a benign economy that was pretty much balanced, running smoothly, and was properly regulated.
They then put all the regulation in the bin.
After a few more years, they put the tory spending plans in the bin too, and then Labour had an annual structural deficit of around £50billion for many consecutive years throughout a period of economic “growth” and following/during one of the longest stable and most benign economic periods in our history.
So, despite the economy growing during many consecutive years, and there not being a deficit to begin with, they somehow still built up a debt of about half a trillion BEFORE the crisis even hit.
Labour’s believed that as we had a labour government, the economic cyle was somehow never going to occur while they were in power.
They not only refused to “fix the roof while the sun was shining”, but their entire economic policy was based on their belief that “it’ll never rain ever again while we’re in power”
This was not just irresponsible, it was mathematically nonsensical, and just plain mad.
I would have put in strong regulation against the bankers and so would all my predecessors.
ONLY JOKING! HAHAHAHAHAHAHAHAHAHAAA!!
actully , If you check hansard the tories did warn Labour about changing the regulation when they took the power away from the Bank of England and gave it to the FSA .
if you check Hansard from Hague to IDS to Howard to Cameron they all argued for less regulation of the banks and the city
They argued for more appropriate regulation, effective regulation that would protect savers, investors, prevent fraud, but not act like a millstone around the banking industry’s neck.
but not act like a millstone around the banking industry’s neck.
God forbid!
Labour also seemed to believe that not only would economic growth never stop/reduce, but also that the rate of growth would increase exponentially to always end up being above whatever spending plans they came up with.
ie their attitude was “I’ll spent an extra 5% this year, even though growth is only 2%, because next year we reckon growth will be 7%” – they just increased their growth forecasts to match their spending plans every year, rather than changing their spending plans to match actual growth.
Their whole economic foundation was based on completely insane ideas that simply defy all logic/reason.
You can’t spend more than you earn forever, just expecting that your income will magically rise exponentially forever to cover all your debt.
Brown/Labour are/were all mad, and I’ll never forgive them for carrying out policies that were so clearly/blatently totally insane.
Brown/Labour are economic terrorists.
You can spend more than you earn, forever. That’s what we did. You just keep ploughing taxes back into the economy to create growth, which you tax, and spend, ad infinitum, and it works like a charm. No more bust, ever.
Also, you can put a dynamo on an electric car, so as the car moves it recharges itself and never goes flat, ever.
I’m a genius.
Labour also believe that you can also use your credit card to pay off your credit card debt!
Lunacy, it is what the left excel in.
Worked for us chump.
Muh-muh-muh-mister Speaker it is with great joy that Ingsoc can proclaim an increase in the chocolate ration from 35g to 28g per person! This is an amazing increase of minus one bazillion percent!
I was going to point out how Balls was Brown’s adviser from 1994 onwards, and Chief Economic Adviser to HM Treasury from 1999 to 2004. But F**k it, why bother? Anyone who is prepared to believe Balls probably won’t be interested in his hand in the huge cash burn under Nu Lab.
Today I will mostly be eating President Obama’s shit over BP.
Bet you can’t catch him in the kitchen either !
Anyway , Just 3 wickets needed for a 3-1 win . Its great to see the Aussies so depressed ……….
and whingeing like the poor losers they are!
Pom’s prove Kangaroos ain’t got no sense of humour.
…but they underspent on one key commitment – defence. They refused to provide proper equipment for our people to defend themselves in wars that were started by Labour government in support of an immoral US government.
In my view, the parliamentary Labour party is a treasonous cabal of incompetent egomaniac idiots who belong in prison cells – or suspended from gibbets.
Their ritualistic lies about the economy pale in to insignificance in comparison to their treachery.
Remember this;
These are the IMF warnings which give the lie to Labour’s protestations of innocence:
1) Dec 2003 IMF gives Brown borrowing warning
2) Sep 2005 IMF report warning over £1 trillion mountain of debt
3) Sep 2005 Brown besieged over growth and borrowing plans
4) Dec 2005 IMF fires new warning over Britain’s finances
5) Sep 2006 IMF warns over possible UK property crash
6) Oct 2007 IMF report UK house market is ‘heading for crash’
7) Apr 2008 IMF: UK vulnerable to US-style housing slump
1) 2009 Ireland do everything the IMF tells them to do
2) 2010 Ireland is a bank*upt basket case economy taking UK taxpayers cash for a £7bn bailout
Prevention is better than cure..
What a twat.
Can’t tell the difference between a warning and a necessity.
^cowardly twat alert^
@ Austerity Works….You better hope it does..!!
GORDON’S ECONOMIC RECORD FROM 1997 to 2010.
Govt Borrowing from £27 bn to £163 bn
Govt Debt from £347 bn to £799 bn
Growth from +3.3% to -5.0%
Inflation from 1.9% to 3.0%
Personal Debt from £492 bn to £1,460 bn
Health Spending from £43 bn to £119 bn
Education from £38 bn to £161 bn
Unemployment from 2.23 mil to 2.45 mil
Average House prices from £55k to £161k
But that is only a once off loan which will be repaid. Northern Ireland on the other hand takes £7 billion yearly which will never be seen again
So Ed is admitting they’re only partly responsible? LIAR!!!!!!!!!!!!!!!!!!!!!!!
And while we’re on the subject of snot, what about all those Swine Flu vaccines that the labour liars bought. Nice of them to buy them all from a friendly labour-hood donor….
Frightful isn’t it ? They’ll be saying we had something to do with it next.
Big boy nasty bankers made me rack up £4.8trllion in de*bt. Big boy nasty bankers made me hire 700,000 non-job civil servants that we can’t afford. And they made me sell the gold and wreck the pensions.
I tried to stop them, but they were big boys.
Big boy nasty bankers made me match Labours spending plans. Big boy nasty bankers made me support two catastrophic wars that we can’t afford. And they made me so shit I couldn’t even win a majority against a twat like Brown.
I tried to stop them, but they were big boys.
Been reading ‘The Crash’ have we?
Quick review
“I did everything right.. It started in America and it was n’ae to do wi’ me… I did everything right..The right way to pay down debt is to consolidate your debt into one unmanageable loan that you leave for the next government.. Did I mention I did everything right? ..Oh..And the credit crunch was nothing to do with me..Oh..final chapter..I did everything right and anything bad was someone’s fault, but not mine.”
F*ck off Brown, don’t blame me.
Quick review
We’ve got all your money tacpaying oiks
New Year salutations Bill,
I have indeed read the full horror from cover to cover.
How the man has not been sectioned is a complete mystery.
If only we had a free press in Great Britain to take him to pieces with some real forensic journalism.
But a free press requires a free country, & we are not that in this post democratic age.
Have you left an Amazon review yet Righty?
Just read Red Ed’s piffle on The Times site. Forty three comments so far, practically all of them calling the son of Brown a compete Deficit Denier.
Masterstroke by Rupert M’s minions to make it look like going behind the paywall is worthwhile.
I will be on Wadio 2 shortly.
The pwoducers will ensure that only nice qwestions are asked so don’t bother phoning in wight wingers!
Getting a hard time already from Vine – overspending at the top of the boom is suicide!
Go get ‘em, Ed !! Remember our core strategy; bullshit baffles brains !
Duped again, first by the Iraq dossier and then by Labour finance figures. Too trusting methinks.
Others have pointed out, quite rightly, that spending was higher than the chart shows but IMO the revenue figures are also dodgy, as quite a lot of the incomings were never sustainable. Accelerating tax payments is a one off, as is money brought in from asset sales. Even stamp duty and VAT contain a one-off element if the money spent comes out of (longish-term) private borrowings or the running down of private savings. The savings ratio and the balance of payments deficits are key indicators of overall financial health that are harder to massage than government figures for its revenues and expenditure —- and both signals have been flashing red for years.
The two Eds ( Balls and noBalls ) told me to put some of the spending items ‘ off balance sheet ‘.
They said they got the idea from Fred Goodwin, so I knighted him for services to banking.
Fred Goodwin did for banking, what Hermann Göring did for Coventry.
If only Hermann Goering could come back and do it to Coventry, again.
Come friendly bombs and fall on Coventry ….
Does not quite have the same poetical ring, does it?
yeah and finish the fucking job properly this time.
A quick look at the figures confirms that, until the crash hit in September 2008, the levels of red ink were manageably low. The budget of 2007 estimated Britain’s structural deficit – that chunk of the debt that won’t be mopped up by growth – at 3% of gross domestic product. At the time, the revered Institute for Fiscal Studies accepted that two-thirds of that sum comprised borrowing for investment, leaving a black hole of just 1% of GDP. If the structural deficit today has rocketed close to 8%, all that proves is that most of it was racked up dealing with the banking crisis and subsequent slump – with only a fraction the result of supposed Labour profligacy. After all, even the Tories would have had to pay out unemployment benefit.
Under the Tories though, we might not have had such an enormous ‘client base’.
the lions share of welfare is pensions
Almost identical percentage. No ?
http://www.ukpublicspending.co.uk/#ukgs302a
Most, not all, pensioners have ‘paid in’ for many years.
pensions is welfare so you have to cut up that welfare slice into child benefit and all the rest and pensions is still bigger than all other welfare spending put together… hence – the lions share
As I read the pie chart, pensions cost 18% of total government spending and welfare costs 17%. Sorry to sound like Alan Johnson but there’s scarcely any difference and it could be fairly argues that ( most ) pensioners have contributed.
total welfare spending apart from pensions is 17% which includes child benefit, unemployment disability and every other welfare cost
pensions is still part of the welfare budget but so big is it that they gave it it’s own slice
other welfare gets paid through NI and other contributions, not just pensions
“If he gets stuck perhaps he could ask Alan Johnson…”
That’s funny.
The only monetary question that Alan could ever answer for you is ‘Should this parcel have a 1st class stamp or does it need more than that?’
DeadEd dying on Radio 2 – worth a listen.
BBC producers will spoil it with soft listener questions
Give him stick Sian!
Ed ??? Ed ???? ED ???!!!!!
Nope – he just got kebabbed!
‘Not waving but drowning’.
Ha ! Ed getting a pasting on Jeremy Vineyard’s show. Fucking lightweight
He’s not a bad singer though, is he ?
Agreed – utter lightweight. Everybody knows that the country is fucked apart from just one man – him.
H@ow could Vine highlight the fact that I’m a backstabber ?????
today, I will be Gibraltar
Wish you’d been Northern Rock and just vanished from our lives.
and covered in Monkey shit. Couldn’t happen to a nicer fella.
Everyone in Tooting loves me.
The population need their heads examined then.
The population of Tooting, is an extremely ‘vibrant’ and ‘diverse’ one these days.
Today I will be bailing out the Euro.
Can I be chancellor again?
Please re-arrange the following words into a well-known phrase or saying:-
OFF FUCK RIGHT
Please re-arrange the following words into a well-known phrase or saying:-
YOU WHO ARE AGAIN ?
my nurse has different size feet from me
…..yes, dear. And my balls are somewhat larger than yours. Now stop humping the sofa and get back into bed, Mr Brown.
When we went into recession in 91/92 it was approx 26% of GDP. As a result of all the tough decisions made during the 80′s we were better placed to ride through that recession and emerge relatively unscathed. We should aim for debt to be less than 25% of gdp but I don’t expect to see it lower than 40% again during my lifetime, certainly not with these crypto lefties in charge. We’re locked into a spiral of decline and I don’t see anyone capable of leading us out of it.
I just hit Sarah with a Nokia. She deserved it. She said she wanted a pay rise for being my beard.
The day we met I knew I needed you so
and if I had the chance I’d never let you go
So won’t you say you love me
I’ll make you so proud of me
We’ll make them turn their heads every place we go
So won’t you please be my, be my beard
Be my little beard my one and only beard
Say you’ll be my darling be my, be my beard
Be my beard my one and only beard
I’ll make you my happy beard
Just wait and see
For every kiss you give me
I’ll give you three
Oh since the day I saw you
I have been waiting for you
You know I will adore me till eternity
So won’t you please be my, be my beard
Be my little beard my one and only beard
Say you’ll be my darling be my, be my beard
Be my beard my one and only beard
So Labours policy for the boom , Thier own geniues , And Labours following policy for the bust was someone else ?
But i thought they had abolished Boom and Bust ?
Eds a fuckwitt
Labour were like a Birmingham “property developer”
Loads of cash coming in from a wank eyed fucktard imaginary business
“Jeremy Vine to Ed, the only thing the public know about you is “He’s the guy who shafted his brother.”"
It’s my favourite.
Miliband describes his entering politics as “getting into this game”, FFS
To them it is a game , Monopoly with our cash !!!!!
He meant “going on the game”
He can work from his nice untouched by the inheritance tax home and the hours are whatever he chooses.
I’m free
Not quite , I think the bill you left us was about 4 trillion……
Glad to hear it. You’re not worth a brass farthing any more.
I give you my cast iron promise that William Hague is as heterosexual as George Osborne.
Like India, China,Australia etc which didn’t go into recession or all the other G20 economies that came out of recession before the UK?
No…NO!..NO!
Spain didn’t and they are in the G20..because Gordon said they were!
He should know, with that massive brain of his that saved us all.
We’re looking forward to your Mr Osborne bailing us out for many billions.
Poor old ~Ed the delusions have already started then
That man is a disaster………let’s hope he continues to get maximum airtime hahahahaha
He will at the BBC …….
Hear, hear! Get the popcorn in, settle back and watch him dig his own grave.
Have I disappeared from view yet ???
He’s SO shit he’s beating Dave ……. Ha ha ha ha ha ha
So, when’s the next GE…?
I pledge to remain leader for another five years and not watch my Party collapse into chaos after May.
Honest I do.
Ed, this is ME on the radio now. SAY SOMETHING INTELLIGIBLE ??
He shafted his brother and would shaft the country given the chance.
I would never shaft call me Dave like he shafted me. That’s Brokeback Nick’s job.
He’s a regular Cain, well he’s certainly not able
“They repaid debt rapidly 1997 – 2002″
Bull. They paid out on Gilts and then pushed new debts into PFI. Then didn’t include PFI as part of the overall liabilities.
“One no bigger than the Tories ran through most of their terms in office.”
In order to put right the economic folly instigated by the previous Labour government.
“If you don’t like UK treasury data go ask the EU”
The same EU that can’t even do it’s own maths and sign off it’s accounts for the umpteenth year running. No thanks.
Labour ALWAYS runs out of everybody elses money. Fact.
@ Fake Tessa:
We have heard of the facts alright. It is a great shame that you seem intent on ignoring and/or distorting them to suit the revisionist agenda of your little master RedEd.
You have totally ignored the blatant misuse of off balance sheet funding methods to manipulate the debt figures precisely so that you can spout the garbage that you do. You refer to a “massive mandate to spend money improving public services”. It may have escaped your attention, but that does not equate to a mandate to p*ss vast sums of “money” (“created” simply by the means of mortgaging the future of every net taxpayer in the country for ever) up the wall without producing any net benefit to the country whatsoever. You ignore the fact that the so-called “massive mandates” were only created through blatant gerrymandering, deliberately engineered postal vote fraud and through hosing vast sums of other people’s money at a captive client state and favoured “special groups” in return for votes.
You should be totally ashamed that you are even willing to attempt (through deception and inaccuracy) to defend and support the very people who, between 1997 and 2010 consistently, deliberately and in a calculated manner set out to destroy this country not only economically but constitutionally, socially and morally.
You, Sir or Madam, should hang your head in shame. You, and every single one of your colleagues who served in any capacity in Blair and Brown’s governments are, without exception, disgraceful.
LOL. Caller to Vine show: Hello David.
Obviously yet another well informed Labour supporter.
They must be turning cartwheels in Downing Street. Red Ed was absolutely dire.
This graph explains things perfectly. Every taxpayer should be issued with it.
Brown and Mili Ed were good at tractor stats. To the uninitiated, their counter-story about whose fault it was is believable. The country’s finances were arranged to hide their duplicity so that is no surprise. Thus, there will always be ~30% of the voters who will believe them. It will take a decade to eradicate this view.
So, this government must push ahead with Gove’s reforms, progress to re-structure teacher training colleges, end the illegal funding of unions with tax payers money, get a grip with the endemic political bias of the BBC and, for FFS, get better at putting the why across as well as the what.
Lopping the treacherous vermin at the BBC should have been priority one.
It makes no sense whatsoever to fund your enemies propaganda arm. Worse still, to fund it from the proceeds of extortion.
But then, Cameron is too busy being a ‘progressive’ to notice that to win battles, you first have to disable your enemies ability to attack you.
Labour would never make such a grave error of judgement if the bias had been the other way around, they understand only too well, how much the BBC means to them.
Ed, I was willing to give you a chance, but you are completely useless.
Labour in La-La land . . . as usual.
I normally expect a Labourite to get an easy ride on a BBC programme.
However Ed Miliband had another car crash on Radio 2 today.
That was the first time I ever heard a BBC journalist bring up the deficit BEFORE the crash. Labour always get away with blaming the Tory Bankers ! Vine did well.
No , Just fat.
is it a coincidence that spending started to exceed receipts in 2002/2003 just at the time of the General Election ?
It was that ambush by a real person on Tony Blair. Remember..outside the hospital..
After that Blair told Gordoom to turn on the taps.
When he said to turn them down a bit in 2005 Gordoom just pulled the entire sink out of the wall and did a little dance amongst the spouting water and masonry.
Sharron Storer, 2001.
Really, and I know its tough on the poor old girl, but she is indirectly responsible for the UK’s debt.
Another bigoted woman. I blame Sue (who is also a bigoted woman).
“Perhaps he could explain then why the last government was spending more than it was bringing in from 2002?”
Easy, because a nutter was in charge of the economy.
He hasn’t just got a blank face and a blank sheet of paper. He’s also got a blank brain that’s blanked out the last thirteen years of destruction and disaster. He is so lacking in ideas and verbal skills that he spends half his time pouring over Dave’s speeches and asides in opposition and pretending he thought of them himself. He’s pathetic.
And have you noticed that every time he tells a lie his mouth goes all twisty and lopsided.
Yes, we noticed. He’s shit. That’s why we didn’t support his leadership bid and instead voted for his brother.
If we didn’t want him, why should anyone else?
We do, he’s our man and he will do whatever we tell him.
Good thing I’m shit at my job or I’d have gone by now.
Whenever I see your mug on telly I can’t help but think, pilot, Thunderbird One.
You’re confusing him with Andy Burnham aren’t you?
“as one who believes that the people of this kingdom should govern themselves, I have an instinctive sympathy with the UKIP candidate”
http://blogs.telegraph.co.uk/news/normantebbit/100070677/a-lib-dem-win-in-oldham-would-push-the-coalition-further-left-i-hope-they-come-fourth/
Just watched the BBC playing the line that public sector workers are going to be worse off as their pay is falling in real terms as they have to now make higher pension contributions.
Funny how the Huhnes at White Powder City have ignored real pay cuts in private firms for the last two or three years.
Or the increased pension contributions by those in the private sector over the last 7 years in particular.
Any mention of the billions taken from the private sector since ’97, which has resulted in the total collapse of the final salary pension scheme, unless you’re in the public sector.
Why should the Telly tax pay for BBC staff pensions?
There are actually two lies (not one) in little Ed’s claims.
Firstly (as Guido points out) government spending and borrowing were already out of control before 2008.
However, the “tax revenues” (on whose 2008/2009 collapse little Ed blames everything) were largely a product of the very credit bubble “speculation” banking that little Ed now blames everything on.
The banks followed the lead given to them by the “easy money” (i.e. monetary expansion) policies of the American Federal Reseve and the British Bank of England (which was just as bad).
Governments loved this – as it gave them lots of tax revenue to waste (oh sorry I mean to “invest” in various vote chasing schemes), till the whole thing collapsed of course.
Gordon was so delighted, he made me a knight, for services to banking !!!!
The Knight of the living dead.
Paul Waugh; Lab sources furious at Vine treatment of EdM but won’t make formal complaint: “Vine made a fool of himself, he was ranting.”
From what I read it was the listeners who gave him a hard time not Vine, is he going to complain about the British electors?
http://www.dailymail.co.uk/news/article-1344724/Ed-Miliband-rounded-Radio-2-listeners-attempts-revive-flagging-leadership.html
Look, Red Ed has to spin the lie.
So he’s taken advice from his mentor, Joseph Goebbels, who’se said, if you’re going to talk porkie pies then tell a whopper and keep repeating it, as eventually the proles will come to believe it, as they are sad gullible sacks.
Though Goebbels probable forgot to mention the need, nay priority, for mass dissimination of the “message”, hence then Times and the pay wall.
Doh, another cunning plan down the shitter.
On the contrary. The Times has turned left long time past. Being behind a pay wall allows Ed to claim an article in a ‘leading, respected title’ and avoid the back lash a wider publication would have brought. Reinforces the lies for many as fact.
So there we have it. Brown’s legacy to the labour party. A vacuous twat devoid of charisma, depth of thought, probity, morality, unelectable and a complete waste of space. 100 days
That’s my boy.
Dad !!
And I’m so shit I couldn’t even win a majority against a twat like him.
Thats because you are a socailist EU arse-licker , Like the former goverment .
But still ahead in the polls. Just think how well they’d do if they could someone half sane.
I am still available.
chin up dave! things can only get better… or worse.. one of the two
Hopefully worse, a lot worse. Cameron needs to be history.
Did anyone hear Dave wittering on about how he is going to build even more windmills and plaster them across the Landscape, how this would make us all very rich and would create zillions of jobs?
Well they do create lots of jobs in Germany and China.
Oh and boost the profits of the energy providers, who are erm, French and German companies.
Of course there is a slight downside for err, the British public, in radically more costly energy bills and completely unreliable energy supply.
Never mind, pay up serfs and don’t forget to thank Dave as you shiver in the dark.
ed is a spunk-gargling socialist fucktrumpet. period.
Nicely put…..
CMD will be giving him a job then.
Careful, I would not bet against Dave calling for a ‘government of national unity’ should the shit hit when the Yanks go tits up. Obama has done sterling work, in his attempt to bankrupt America ala McShite here.
Looks like Jug-Ears’ wheels behind Cleggy.
Like the Trabant in the back-ground. Where is that? Some socialist shit-hole like Wales.
Not a Trabant jg. Made by Nissan it is their attempt at retro. The Figaro they call it. Imported into the UK. Many about.
It’s a Girlymobile, the sort of thing a male Bill Vague SpAd would drive.
I bet Ed would state he has a 10cm dilated anus in order to impress the penquins
tom baldwin is a deluded fuckwit.
Your figures are meaningless as so much stuff has been hidden off the balance sheet since 1997, moved around, and generally fucked-about-with to avoid the true situation being shown on any official figures.
The real debt as a percentage of GDP in the uk is well over 100% already, in fact economists who understand what they do seem to think it’s closer to 150%.
The UK official figures, when compared with other countries, is like comparing apples and pears as our figures hide most of our debt whereas the figures of most other countries don’t.
Our total public debt is more like £5trillion than the official £1trillion.
Whenever I see these official figures quoted, I just ignore them, because they’re so misleading that they might as well just be totally fabricated (which they are).
The tories will never mention the true scale of the debt, because if they do then the whole world will say “fuck me; you’re totally bankrupt; you can never pay that money back unless your economy grows by about 20% per year for the next 200 years”, and the whole illusion would fall apart.
Labour never mention the true scale of the debt because 90% of it was their fault.
I fart in the general direction of your 44% of GDP figure, because it’s complete meaningless shite.
It’s very difficult to understand what labour thought it was doing by electing edmiliwtit as leader.
They couldn’t possibly have a worse leadership arrangement than this; edmilitwit being led around by his nose by kinnochio and postmanpat, who admits he’s never ever read a budget, as chancellor, and all of them complete economic illiterates!
It’s not good for democracy when the opposition party descends into complete and utter farce as labour have done.
Did he fail to win a majority against a moron like Brown?
No, that was your hero Dave nell. He’s just that useless.
In fact Dave’s so shit he’s losing in the polls to Ed.
Try again dearie.
Ed’s so shit he lost in the poll to me.
And then along came the Union vote..
and who were you again ??
The good looking one.
The one who’s quite obviously not retarded.
We anointed Red Ed. He is OUR man.
Get used to it, Nell.
God only knows what idiots have been bred through the last 12 years of Labour’s “educashun” system.
We have all this to look forward to…..
I rest my case.
Labour didn’t vote for Ed. Even they aren’t that stupid.
They voted for me. They didn’t want my brother.
He’s never read a budget but his budgies have all died of starvation, their last words were… Don’t they sell any bleeding birdseed in that shop of yours?
He he he – that cheap jam mascot, who sticks his chin out like Bruce Forsyth trying to lick snot off his nose, has managed to get the US federal debt up to $14 trillion ($14,014,049,043,294.41 to be precise) in quick time.
I\’m going to black-up and run for president. You get 50 weeks holiday a year, and can drone 1000s the mugga-fuggas who steel yer crack. Plus you can say anything you like and make any promises (eg. Guantanamo Bay) and the media will never report any failures (if yooz black).
I also like the idea of the lying diabolical imbecile, Cameron, licking my arse clean (to save on bag paper).
Other lying diabolical imbeciles are available. May I introduce you to any one of my 650 fellow-MPs?
But if having your ringpiece licked clean is a ‘must have’, William Hague or Simon Hughes are the men for you.
They are all shit anyway , red, yellow or blue !
GDP is roughly £1.5trillion per year.
But, our structural deficit (ie annual overspend) is still around £150billion at the moment.
Surely that means that our GDP needs to go up by 10% per year purely for us to not increase our accumulated debt any further?
Maybe I’m missing something, but from what I can see, unless we cut spending a further £200billion or so then technically we’re bankrupt as we’ll never be able to service the debt while we’re still overspending 10% of GDP every year?
I mean, it’s just not physically possible to do anything about the debt unless we grow by more than 10% per year, or unless we cut total spending by about 30%?
Add another few trillion for all the Quant/Easing.We are owned by the central bankers.
true, and the £150billion is probably only about 20% of the real structural deficit. the mind boggles when even the official figures mean you’d need to have continual annual growth of 10% just to stand still.
I’m reminded of the emperor’s new clothes.
I’m thinking that we’re totally backrupt as a country, everyone knows it, but nobody will admit it because it’d mean the house of cards would fall down and we all end up back in the stone age.
I say we should cut off Gordon Brown’s head, put it on a spike in Parliament Square, and let people spit/piss/shit at/on it as they walk by.
Far be it for me to suggest an improvement to your excellent idea, but..
Put Gordon Brown in a cage in Parliament Square and let people piss/shit/spit at him, for a few weeks, then cut his head off and put it on a spike.
Oh, I wish……..
And you think Cameron won’t be happy to be in hock to the central bankers or borrowing like crazy as soon as he can?That’s so sweet.
The Huhne’s already borrowing like crazy. Wasn’t November’s borrowing the highest on record?
Yeah, but what’s a few trillion, eh?
..You’ve not heard of inflation then?
Inflation through fake banknotesQuantitative Easing. Oh-so tempting..yes, but you’d have to go some to get inflation that’d outstrip the increase in the accumulated debt.
hyperinflation would do it, so I guess “Kerrr-ching!” is right; let’s just print as much gbp as we can and make our currency worthless.
Isn’t it about time William Hague made an honest man out of his Spad ?
Next thread : http://order-order.com/2011/01/06/coalition-colours/
Does anyone know who Millibonkers’ dealer is? He’s obviously got some good shit at the moment.
I don’t understand. Are you seriously trying to tell me that money has to be earned before it can be spent?
From Ed’s great conference speech of 1938.
“..I have in my hand… a blank piece of paper… Can anyone help me fill it in?”
Nope.
No, you don’t have to earn it now. Stick it on the country’s credit card and your grandchildren can pay. Be 5x as much by then of course but what do we care.
Our grandchildren will be alright.
Yesterday I was approached by a young lady asking if I would like to join the local ‘Virgin Fitness Centre’. I explained that I was disqualified on two grounds.
You may have done yourself down, Sir William. Perhaps the deal was to provide unlimited fit virgins for your delectation, in any way you felt pleased.
If so, it would far exceed the offer from Islam.
Of course, that might just be wishful thinking on my part but I would say that much stranger things have happened in my experience.
Listen to my impressive interview with Jeremy Vine here:
http://www.bbc.co.uk/programmes/p00d4khs
A recording of Jeremy Whine and Ed Milimong, together?
Jesus, nothing could be worse than that.
Watching paint dry would be far more enlightening.
Here’s your dilemma. You have to choose between eating a plate of insects like on I’m A Celebrity, or you have to eat a lasagne that’s been made by Gordon Brown. Which do you have?
I’ll take the insects. At least what you see is what you get. Gordon may tell me it is a lasagne, but is it really?
I made the beef mince myself.
That Ed Miliband’s a bit of all right!
Can anyone believe anything that either of the Government says. A friend of mine said yesterday that he could do a better job with no qualifications and no experience than the current Government. Maybe he should have a go!