Keynes vs. Hayek, Round Two
Maybe instead of arguing with Guido on Twitter, Will Straw should just step into the ring. Will always advocates more government taxing, borrowing and spending, Guido always advocates lower taxes, balanced budgets and an end to subsidies and bail-outs. Here is the rap version:















When is Will Straw going to try doing a real job?
Might serve him well if he plans to pontificate like his father does.
I think he waiting for a safe seat to open up, Maybe one in Scotland that has a MP that does not turn up for work?
lets get some stuff straight
1. ed balls is a Hunt
2. harriet harman is a Hunt
3. andrew marr is a two faced hypocrit and a Hunt
4. The BBC is shit
I thank you
A little bit O/T but Ed Ballocks was interviewed by Jeff Randall last night. Randall asked Ballocks what he knew that the IMF, OECD and the Bank of England didn’t know as they all backed Osbourne’s running of the economy. Blinky spluttered a little before naming about four tame JOURNALISTS and the Marxist Nobel Prizewinner as agreeing with him.
What a cock!
Yeah, that’s what Yvette Ballocks said too!
I reckon that Will is waiting for a nice safe” seat” in Brighton that he can gently ease himself into
This will involve KY jelly and another serious young man
‘appen I’m getting an erection lad, ba goom!
He needs to practice some criminal damage first!
I don’t go north of Islington
not surprising you londoncentric fuck
Yes.Straw snr and jnr have never created a penny of wealth but are mustard keen on spending other people’s hard-earned readies.
Still,at least they believe in the hereditary principle.
As does Kim Il Sung and Kim Jong Il in the starving peoples republic of North Korea.
Socialists always think they know best on how to spend other peoples money………….until it runs out. Twats.
Yes, socailisim is also evil and runs out of other peoples money, they need to keep the poor poor.
Hear! Hear!
Billy,
It’s
S O C I A L I S M
My sentiments exactly
My cock between Lisa Nandy’s lovely melons.
But didnt Keynes also advocate balanced budgets, So that if the shit hit the fan then there was room to borrow?
What the left and Will straw are saying is, Borrow more regardless of how much you borrowed in the good years.
I think if the left had followed the firstexample then it would have been ok, But they spent the good years rasing taxes, spending and selling gold.
Oh and dont forget those good old golden rules.
How can we forget QE
Cameron hasn’t.
He agrees with it’s use and it’s still on the books to be used again in case of emergency.
The real question Billy after collecting all this money where the hell has it gone, any reciepts to show where the money went if not why not, why hasn’t Brown, Bliar and the Liebour party and anyone who voted for the Liebore party been contacted and made to pay for the missing money.
Where is the serious fraud office when you need them?
We’re at an Equality and Diversity Awareness Agenda Meeting.
In the Seychelles.
The bankers have taken billions of it and will ultimately take it all in debt repayments and debt interest.
Labour, billions for bankers and bugger all for anyone else!
Not really. The bankers have taken Millions in false bonuses, but it’s the Bondholders that have taken the Billions.
Aren’t the bankers the bondholders too?
Will Straw? Didn’t he get done for dealing the white stuff? Did daddy help get him a lenient ticking off?
I thought it was cannibis?
There’s no practical limit to the number of immigrants we can bring into this country.
Mainly because they bring lots of Bolivian Marching Powder for my son.
Is Will Straw one of the Labour off-spring who’ve enjoyed an internship?
I don’t know. I was checking his website but found the following; a kind of roll-call of the living dead:
http://www.leftfootforward.org/biographies/
Cripes! One of them has held a proper job.
sniiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiifff + + +
Top Hole!
Newsnight (27/4) had three “experts” discussing the UK economy. If we followed the advice of Lord Myners (failed Labour city minister), Nicola Horlick (whiner that she’s a woman and better than anyone else, left employer in a huff), and Andy Bind (ex Asda CEO), the UK REALLY WOULD be f*cked.
Their conclusion, take money via taxes from the wealth shrinking private sector, and spend it on building more infrastructure projects. Yeah, that will help small businesses survive.
After the earthquake and tsunami in Japan, Japanese manufacturers are having difficulties because so much is needed from small businesses by big businesses. In the UK, big businesses went abroad to China, they don’t give a shit about small businesses.
Japan out produces the UK for a reason, they love small business, the UK hates them (at least, since Labour got back in in 1997). The coalition have not reversed that thinking.
didnt the coalition lower a buisness tax?
Mainly for the larger corporates (>£1m a year profit), by several percent over two years. Small biz tax was dropped by 1% though from the beginning of this month.
Better than raising taxes.
or VAT
we have a deficit denier here, Must Ed Balls.
Tax cuts take money out of the economy, ergo tax rises put money into the economy.
Sticking employer’s NI up more than recouped a minor concession on corporation tax, particularly for businesses that employ people and actually do stuff, as opposed to the spivs.
And it’s employment taxes which matter, most businesses can maneuver around corporation tax.
Did this Horlick woman play Queen Elizabeth in Blackadder 2 ? The resemblance is startling.
You think ?
http://preview.tinyurl.com/638l6bj
More lefty fuckwits who pay off their credit cards each month with their credit cards and then wonder why they are still in debt!
IIRR Myners was in charge of Pensions “Simplification”.
It more than doubled in complexity.
He’s one of those “Experts” who’s advie it’s sensible to always do the 180o opposite of.
Heard it. Shocked by it. Then noticed
their loser – b list stylee, disregarded all their
comments and had some jelly from the fridge.
Dear Miss Eagle
May I say on behalf of the Prime Minister that I am deeply sorry for the offence caused by his referring to you as dear. He accepts he was wrong and out of line to call you that.
The Prime Minister wishes to extend his apologies and he promises that in future he will refer to you in the proper manner by saying “Shut your trap you fucking rancid old ugly c unting minger”.
Dear Miss Eagle and the Labour Front bench,
Get a fucking sense of humour.
You give women a bad name.
Yours,
B
Dear Labour Party
Please all take your seats on the royal wedding Labour Party float.
Thank you
Call the Sergeant At Arms
FIRE
Simple question. Has Will Straw EVER had a proper job? I suspect he is another one of these socialists who learnt his dogma on daddy’s knee, at university (where he seemed to spend most of his time organising boycotts on behalf of the union). Not a clue about the creation of wealth. Not a clue about small businesses winding their way through the maze of red tape that he and his ilk lay down on a daily basis.
Oh well! Cannabis anyone?
public relations is a proper job when daddy arranges it
Well, you’re a bit fucked after 2015, aren’t you, c’unt?
Calm down dear!
I won a massive majority against a stupid idiot like Brown so the public loves me.
We’ll love you even more if your head explodes tomorrow, spraying bits of brain all over the dress.
Socialism explained.
Socialist ex-brained.
oink oink oink
snuffle grub grub
fart fart belch
bark bark bark
money money money
That’s the mating call of Eric Pickles when he’s fucking a pork pie.
YOR TORKING MY LANGWIDGE.
Free tit wanks from Lisa Nandy for every voter! She’ll even give you head if you register non-existent people for postal votes!
Look they are nice tits,But not that nice.
You thay that in jetht, but it jutht might work. I’ll propothe it to Ed Ballth when he holdth hith next thadow-cabinet meeting. Brownie-pointh for me, I think.
you cannot be trusted to spend your own money
Tax-cuts take money out of the economy.
You can’t be trusted to spend my money either. That’s why I’ve stopped giving it to you.
aaaarrrrrrrrrrrrrrrrrrgggggggggggggghhhhhhhhhhhhhhhhhhhhhhhhhh
i cannot enjoy the money i am paid as i don’t earn it
Is that Will Straws the Dopehead? You have to be a dopehead, kokehead, junkie, alky to support Labour and the BBC. It’s compulsory.
Oh ducky!
I made Diana into the people’s princess and forced her children to mourn in public and what thanks do I get for it?
You made quite a few children mourn in public.
You get a new aircraft each week. Your daughter likes the taste of LearJet too much.
Hypocrisy! Kerrrchiing!
Snort*Snort* oink! oink! I love Charlie Slater!
Shut it lispy. You know you’re not allowed at shadow cabinet meetings.
A very good short film – both entertaining and informative.
What more can anyone ask for?
Listen to both sides – and then make your choice.
Drugs are harmful unless you are the offspring of a politician or work for the BBC.
I am having a whitey, I can’t move. Got the munchies too.
Whilst on the subject of Keynsian economics, I’m disappointed that the Queen hasn’t arranged to publicly behead Blair and Brown at some time during tomorrows ceremony, as a gesture of thanks to her loyal subjects.
I iz in your budgetz spending your monies.
Fine by me. Have another £50million. That should see you until tomorrow.
I think now be an appropriate moment to pause and have a good laugh that the Queen, Prince Charles, Prince William and the entire British establishment have given the architects of 13 years of economic idiocy, Tony Blair and Gordon Brown, the appropriate number of invites to the royal wedding.
In order to properly thank them for their contribution and to show the high esteem in which they are held by the British people.
Hahahaha. Get it right up you, you c*unts.
If Brown had gone, what would have happened?
1. He would have turned up late.
2. He would have been scruffy.
3. He would have looked grumpy, except for the occasional vampire’s leer.
4. He would have spent the entire time hunting for Barack Obama.
5. Kate would have tripped over her dress.
6. The Abbey would have burnt down.
7. It would all have been the fault of (cont. p. 94)
He would have accidentally got locked in a cupboard at the Palace, then gone walkabout in the kitchen wearing a crash helmet looking his friend and finally he would have wished Harry and Crate good luck.
8. He’d have gurned every 30 seconds at the camera
http://i.dailymail.co.uk/i/pix/2009/05/02/article-0-04B6C396000005DC-854_468x322.jpg
…and the marriage wouldn’t have been a success…
I’ll be going, although as a soc’list I don’t believe in the monarky.
I GOT A INVIGHT BUT I SPAT ON IT AND WYPED MY ARS ON IT AND FREW IT IN A BIN.
THE QWEEN NO’S NOTHING OF WURKING HARD 4 A LIVING
Class, Bob, class!
My wife and I couldn’t help noticing that we’re considerably richer than the Queen, and we didn’t want to show her up.
And besides, Cherie and I are busy hiding all our millions from the taxman that day, so we’re otherwise engaged.
Good point. He’ll be operating under the ’90-Day Rule’ so won’t want to spend any more days than necessary in the UK for tax purposes. Plus he has to keep a few days spare in case he gets called back for yet another quizzing about what he knew and when regarding Iraq.
Plus, England post-’97 is a complete shit-hole and he likes to avoid it these days.
Well, if Slotgob refuses to acknowledge the Monarch by not cutseying, what does she expect? And you should have heard the chambermaids’ comments about the state of their room when they stayed – contraceptive devices everywhere. Not pleasant, you know.
You forgot, they also nicked your nice little boat , Ma’am.
Squeak. Squeak. Squeak. Who wants to see my fud? Squeak!
Sorry, can’t stand rap music so I didn’t watch the vid.
The playing of rap music should be a capital offence. And the law should be applied retrospectively, to about 1980.
You are John Major and I claim my Best of Trance album.
That’s you off my Christmas Card List.
LOL.
now the silly dear is complaining about being referred to mrs john bercow on her wedding invite – why the hell is she going?
http://twitter.com/#!/sallybercow
oh yes, BECAUSE SHE’S MRS JOHN BERCOW.
She is common
How come she’s got an invite, but important people such as my dustman didn’t?
Doesn’t mind calling herself Bercow though does she?
Her feminist principles didn’t prevent her from abandoning the name she was born with and adopting the one that allows her access into high society.
What’s the bet she’ll be twittering during the ceremony, with her usual pathetic attempts at humour.
“Sally Bercow, Wife of the Speaker” or “Sally Illman, checkout assistant at ASDA”.
I bet she was practising her ‘Sally Bercow’ signature for weeks before her own wedding.
If she wanted to keep her maiden name then she could have done like Yvette Cooper and Harriet Harman. But she didn’t. She loved the idea of being Mrs John Bercow.
rather her than me though
just a thought
Should have been poisoned dwarf and his fucking ugly bitch.
I told Harriet she must get her t*ts out to up Labour’s chances of winning the next election.
Three women are talking about their husbands’ involvement in a ten-pin bowling team.
“It’s terrible,” says Mrs Osborne. “George comes home after the bowling pissed out his head, strips off his clothes and falls asleep in the kitchen.”
“That’s nothing,” says Mrs Clegg. “Nick comes home after the bowling pissed out his head, strips off his clothes, pukes down the toilet and falls asleep in the bathroom.”
“You’re lucky,” says Samantha Cameron. “David home comes after the bowling pissed out his head, strips off his clothes, strips off my clothes, throws me on the bed, rams three fingers into my pussy and shouts: New ball, please! This one’s wet!”
Hayek for the win!
Thank you Queenie. I would courtsey but I have no legs.
So how did you manage to get here? Fuck off.
I crawled and dragged myself through seven safe countries.
Well hop awf then.
Austrian economics is the UK’s only real salvation now.
The US will default, be it by inflation or a full blown bondholder strike.
Still, I think they’ll raise the debt ceiling next month and try their luck.
And I think the Chinese will start to use their substantial commodity holdings to start selling US Treasury debt to test the waters.
That’ll learn them to debase their currency.
But sell to who? And then do what with the dollars? Only one place you can spend greenbacks, but China still seem happy to stock up on them through trade.
Oil, more commodities.. after all, aren’t these all priced in dollars?
You can do more with oil and commodities than you can with toilet paper.
But Phantom, that doesn’t change the external dollar balance. It just diverts it to other commodity export countries. What effect on the US.
Exactly, and there in lies the rub, as I’ve already said they’ll raise the debt ceiling next month. It’s not the end game quite yet but just a step along the way to the cliff edge and I think America knows full well where that edge is.
Look at the end of the day America holds all the cards, China just thinks she does.
Who debased their currency? China kept their people poor to fund Americans. how stupid was that?
Inflation is the UK’s preferred method. It’s been under way for several years now and will continue for several more.
No.
The UK also debased their currency though QE and sent the cost of its imported raw materials and imported unfinished goods through the roof. It destroyed the value-add, that destroyed any semblace of growth.
15% annual inflation on producer prices? So that’s half of CPI.
Then add to the mix income and consumption taxes that account for half of CPI.
Look at CPI-Y to see core inflation around 2.5%.
You do not inject 20% GDP of money into an economy without getting inflation.
That’s why interest rates are 0.5% – no one wants it.
Best thing that can happen now is hike rates up to 2%, let the over-leveraged idiots default, create a value-base and create a stable price mechanism and see the economy grow.
There is zero confidence because no-one knows who is holding the bad hand, flush them out, they go bust and the rest of us can carry on knowing the bad guys are out of the game.
It is that simple.
Bondholders might insist on a higher yield sometime soon. Gordo tried to keep the game going by making Pensions scheme “invest” in this area.
Sort of. Those Gold Bug is the only “real money” people will really mess things up (except for miners).
Well
that’s the tall blond one sorted
now, for the red haired one
OOOOPPPS
The likes of Will Straw love twitter, as they can come out with all their garbage and then just ignore any responses they can’t argue with.
No way would the little twat have the balls to debate someone face to face.
That, and with a 140-character limit they don’t have to think too hard about what to write.
Amen to that
Good Will hunting Guido!
Vote Labour or i will strip!
Too late she just stripped
http://www.pmcaregivers.com/images/torrie07.jpg
Apparently wikipedia entries were suitably altered this morning for someone named Bonneville, also a Mr R. Giggs, and a BBC employee named Shearry, or something similar. But they’ve been doctored since…
Mr Bonneville is famous on both sides of the Atlantic, apparently.
Ha ha haa ha ha ha! Well, he’s famous on this side of the Atlantic. Now.
We support the atrocities taking place in Syria. We hope Syrians in power will continue to fund the University.
Yes, well done for being a Guardian reader. Did it occur to you that on the day of the royal wedding the Grauniad might want to, say, run a few stories about the couple’s alma matter regardless of whether those stories had any basis in sanity?
‘The Syrian Studies Centre is partly funded by Syrians’ – Wow… really? How astonishing.
Nobody likes me, everybody hates me
Think I’ll go and eat worms
Long thin skinny ones, short fat juicy ones
See how they wriggle and squirm
Bite their heads off, suck their juice out
Throw their skins away
You should see how well I thrive
On worms three times a day!
A diet of worms? Been there. Done that.
Does dope ease chronic neck & back pain?
Yes, usually by easing you gently into the next world.
Alongside Keynes and Hayek, we must now add another economic theory – Ballsian economics. The basic theory is that you spend everything in sight (doesn’t matter what on, just spend it), then borrow up to the hilt and beyond, and spend that too. All this will be perfectly OK, because you simultaneously relax banking regulation such that a bubble is created in the banking sector, thus producing spiralling (taxable) profits. If it all goes to ratshit before you can do a runner, just deny everything.
Yeah ^this basically.
The ‘neo-classical exogenous growth theory’ Balls and Brown self-identify with is a sensible enough Keynesian theory on the face of it where you use state jobs to stimulate growth through commerical spending due to employment in depressed local areas some of which had been depressed since the primary industry subsidies were (rightly, for those keeping score) cut under Thatcher. Unfortunately they seem to have forgotten that the goal is for this growth to be short term and for the government jobs – effectively a kind of booster – to be withdrawn and that local growth to be self-sustaining. Instead they just kept the spending going indefinitely so, surprise surprise, eventually the debt got too much and when the entire financial sector their borrowing was predicated upon remaining healthy took a tumble due to the ridiculous housing policies established in America under Blair’s pal Bill Clinton (cause, aw shucks, people who can’t afford to pay mortgages should be able to get them anyway. What’s social housing?) finally running out of steam suddenly the government was left unable to afford to even service the debt accrued over many years of mismanaging this convoluted scheme. So now Cameron and Osbourne get the blame for cutting government jobs which are keeping previously depressed local economies going by a public who a) don’t see that the real criminals are Brown and Balls for fucking up (and misunderstanding) their own economic policy and b) have become so used to the idea that government money is magic and grows on trees they don’t understand that the well has run dry and it will take a serious length of time before even the cost of servicing the debt decreases to acceptable levels.
Which is, I take it, what you meant.
@engineer. I am on a morphine based painkiller, prescribed. A legal junkie! Not good. Dope is non addictive and less harmful(-not smoked-) than morphine. If it eases pain then it should be made available legally.
“Dope is non addictive and less harmful….”
Not sure that the evidence supports that assertion. Drug addiction seems to be a major problem. I’d stick to the prescribed medications, if I were thee.
No Balls!
Calling Obama a Keynsian is not a Birther conspiracy
Also if anyone actually like political hip hop take a look at http://thejuicemedia.com/
I’ve been waiting for a Nandy nork comment all day, makes me want to move to Wigan….oh fuck I already do….shame I never voted for her, I got confused and never thought Labour would ever stick a red rosette on tits like those
Would you continue to advocate ‘lower taxes, balanced budgets and an end to subsidies and bail-outs’ if, ten years into a recession, these policies hadn’t produced sufficient growth to end the recession?
Of course! Taking cash from the productive part of the economy, giving it to the government, which then recycles it back into the same economy (less admin costs) is the key to economic growth! Let’s not muck about: go the whole hog and raise tax to 100% of income. Problem solved.
Cause it’s that easy folks!
Wait… you’re comparing Will Straw to one of the most astute economists of all time. Are you sure that’s… you know….
I go with Guido
I see Hayek missed the verse out about collapsing the economies of every country in which his theories have been tried. Another Koch bro’s failure!