June 28th, 2011

Inflation Outlook: Lindsay Lohan on Monetary Policy


Monetary policy arguments can sometimes seem other-worldly, the modern equivalent of the medieval intellectual battle over how many angels can dance on the head of a pinhead? Guido (neo-Hayekian) has been rowing with Will Straw (neo-Keynesian) for years – our latest skirmish is here. It is a difficult subject to popularise in an accessible way. Straw often cites David Blanchflower, formerly of the MPC and a favourite of Gordon Brown, to back his case. Blanchflower it was who predicted a year ago that if Chancellor Osborne didn’t undertake a £90 billion stimulus package, unemployment would hit 4 million. Osborne ignored him and unemployment is down as we undergo an expansionary fiscal contraction.

In turn Guido cites the noted American actress and legendary redhead bad-girl Lindsay Lohan. She has a manifestly clearer grasp of the inflationary dangers of quantitative easing than David Blanchflower:

Lohan’s analysis is right…

Hat-tip: Fraser Nelson


193 Comments

  1. 1
    smoggie says:

    The lass deservces a compliment.

    And I’d like to give her one!

  2. 2
    Billy Bowden is the greatest umpire ever ! says:

    Isint QE just delying what has to happen?

  3. 3
    Old Rascal says:

    Lovely….

  4. 4
    Tax Payer says:

    I wouldn’t worry about Will Straw – he’s just as duplicitous and spineless as his father and grandfather.

  5. 5
    Questioner says:

    Bigger question:

    Does Fraser Nelson follow Lindsay Lohan on twitter ooh err?

  6. 6
    Duyfken says:

    Talking about inane twitters, here is one this morning from Harriet Harman:

    “On way to Athens to PSI Conf to rally support for women in Egypt. Tough time for Greeks – economically and politically.”

    I am so glad to get that information about the Greeks – who’d have guessed it? I can imagine Egyptian women are the hot topic in Athens today.

  7. 7
    Lazy Socialist Bitch - Do Some Work For British People & Men says:

  8. 8
    Billy Bowden is the greatest umpire ever ! says:

    I am not a history expert but can anyone point me to a place/time where printing money has helped? The only places i know have done it is the UK,USA and zimbarbwie.

  9. 9
    Billy Bowden is the greatest umpire ever ! says:

    Mike Doyle RIP

  10. 10
    Steve Miliband says:

    Did Adele say she wanted to shoot someone because she has to pay so much tax?

  11. 11
    F. Ucknose says:

    Listen to LiLo all you economist know-nothing gits!
    I thought ‘gas’ meant something completely different to Yanks.

  12. 12
    smoggie says:

    It could be used as a means to push the problem down into someone else’s watch.

    The only thing it stimulates is inflation.

  13. 13
    Tax Payer says:

    The airports and all public transport are shut down today?

  14. 14

    Her body appears over-developed to me but it might still be a better investment than the post neo-classical endogenous growth theory of Gordon Brown.

  15. 15
    Ivan Agenda says:

    That’s the Greeks done for then.

  16. 16
    Chris says:

    “There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternatives are only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved”

    Ludwig von Mises

    But there are still people out there who believe that creating money out of thin air solves the problem. Most of them are politicians who care nothing about the country in 25 years time, all they want is their 10 years of fame now to ensure their fortune. And isn’t it so much easier to tell people you will take care of their problems by printing money rather than telling them that the world has changed and they have to accept their living standards are going to drop markedly whilst we work our way out of the mess?

  17. 17
    Yob says:

    She is the greatest pop culture icon of the 21st century, so far. Everything that today’s western society stands for.

    Sadly though, people pay to advertise on her feed… and these are not her words.

  18. 18
    Popeye says:

    And she’s prettier than Will Straw to boot!

  19. 19
    ZZZZ celebrity watcher says:

    How does Lindsay know about food prices?
    She does not eat, only drinks.

  20. 20
    Tax Payer says:

    +1

    The political leadership of this country has been criminally inept for at least 50 years.

  21. 21
    Nu Attack Dog says:

    Best thread ever Guido

  22. 22
    Postlethwaite says:

    Not quite.

    You buy the banks.
    Allow them to borrow money at 0.5 pct and to charge 5.0 pct on a mortgage.
    QE or as it is otherwise known as printing money to give loads of inflation.
    Then you buy the banks back with a couple of barrowloads of paper money.
    Banks bailed out and job done.

    Oh and claim we are all getting our money back. Might even issue paper shares.

  23. 23
    Postlethwaite says:

    Nazi Germany?

  24. 24
    I'd give her the hot beef injection says:

    Li-Lo may be a bit of an alky but she’s utterly fuckable. Watch the terrific action flick Machete for some sizzling naked scenes.

  25. 25

    I like it a lot.

  26. 26
    annette curton says:

    No. Add 1920s Germany and the Deutsch-mark to the list, a wheelbarrow full of paper to buy a loaf of bread and we know what happened next, the Euro is the new Pfennig.

  27. 27
    Sir William Waad says:

    You don’t think he’ll place his tanks on Guido’s Lohan?

  28. 28
    sockpuppet #4 says:

    You can also inflate away a housing bubble without people noticing.

  29. 29
    Tom (peeping) says:

    I’d follow her to Hull and back…

  30. 30
    Sir William Waad says:

    I think you’re wasting your time there, old chap. The young lady isn’t interested.

  31. 31
    Sir William Waad says:

    The Greeks shouldn’t have voted in the Socialists, then, should they Hattie?

  32. 32
    Moussa Koussa says:

    In administration past 3 months

    Thornton’s
    Focus
    Moben and Dolphin
    Homeform
    Jane Norman
    Habitat
    The Officers Club

    Currently is real bother

    Clinton Cards
    HMV
    Every Pub in country

    That cambo cock sucker Mary Portas is really doing a great job.

    Soon the high street will be pound and charity shops only. I suppose the charity shops isn’t too bad, more opportunities for Dave’s Big Society …shhhhhhhhhhhhh

  33. 33
    Jim Keltz says:

    what is the head of a pinhead? How am I to believe anyone so inarticulate, or is illiterate the word I mean?

  34. 34
    annette curton says:

    You just beat me to it with 2 words.

  35. 35
    Public Sector Parasite with enormous gold-plated pension says:

    But the United States has not become the World’s toilet, like the UK, where every sponger, criminal and benefit claimant is welcome. Keep paying the tax suckers!

  36. 36
    Billy Bowden is the greatest umpire ever ! says:

    So you want goverment to bailout private buisness?

  37. 37
    Labourunionsbbc we are one. says:

    Greeks are bowrowing more money to pay off the debts from the money that they bowrowed when they coudn’t afford to pay off the money that they owed in the first place.

    But the EUSSR like it like that, it helps them gain even more power over the little people who are burdend with the debt.

  38. 38
    Concrete Pump says:

    Guido Fawkes,right wing political blogger, said: “All the information in this so-called survey is in the public domain as the unions are democratic and transparent organisations accountable to our members.

    “Compare that to the shadowy existence of the hard-right Taxpayers’ Alliance. Who bankrolls this mob and who are they accountable to?

    “We warned that there’s a class war going on and it’s those who provide and support public services against those who would destroy them. The battle lines could not be clearer.”The full trade union “rich list” can be found at http://www.taxpayersalliance.com/tradeunionrichlist0611.pdf

  39. 39
    Mark, my words. says:

    I think Germany tried it once.

  40. 40
    Yasmin Allah-Baba-Brown says:

    The Hungarians did it in style

    the Euro is the new Pengo

  41. 41
    Stink Tank says:

    Weimar Germany is the classic example, result, National Socialism and 60 million dead.

  42. 42
    Steve Miliband says:

    She has a better grasp of economics than Brown and Balls

  43. 43
    Gordon Brown says:

    My botty inflated a bubble in the bath last night.

    But nursey noticed and now I’m not allowed fizzy pop.

  44. 44
    Tax Payer says:

    It’s only a matter of time before it all goes tits up, in Greece then elsewhere……

    Weren’t they warned that this would happen?

  45. 45
    Stink Tank says:

    Presume he wants tax breaks and VAT reduced? What a notion.

  46. 46
    Luftwaffe says:

    Yah, quite effective to bomb the enemy with counterfiet five pound notes.

  47. 47
    HandsomeDavid says:

    Gordon Brown came up with Quantative Leasing, otherwise known as PFI.

  48. 48
    Kevin T says:

    LOL, well it’s basic stuff. Anyone with a salary and a bank account could tell you you can’t spend your way out of debt.

  49. 49
    Ampers says:

    I would have thought she would have loved quantitative easing :-)

  50. 50
    Steve Miliband says:

    Shock horror. Shops that sell goods that are inferior and more expensive than competitors suffer loses and have to close.
    Of course this only happens when the Tories are in charge.

  51. 51
    George Osborne says:

    Take a look at people walking down the High Street, they only want fucking Pound shops and Charity shops – oh and KFC.

    They get to keep that which they support fuck-face!!

  52. 52
    Labourunionsbbc we are one. says:

    All the backward third world countries will be getting shops now, to replace your open markets, bazzars and goat seller carts.

    In the devloped west computer ‘shops’ are the model that the big money men and governments demand.

    You’ve still got a long way to go with your religion’s though.

  53. 53
    Nemo says:

    Now then Tiger

  54. 54
    Gordon Brown says:

    It worked for me (the enemy within).

  55. 55
    Glyn H says:

    I had an idea that Mary P is a bit more Cunnilingus and rather less Fellatio these days.

  56. 56
    Anon says:

    Yes, long before Dave started throwing our money at the problem.

    Meh, what’s the odd ten billion quid of taxpayers’ money?

  57. 57
    Trashbin Alibi Clown says:

    I returned my MBE in disgust! Ok, it was three years after I’d accepted it and I only did it because I wanted the same attention Benjamin Zepheniah was getting, which makes me a total fucking fraud, but The Independent and the Labour party like me, so there!

  58. 58
    Stink Tank says:

    HMV hardly a shock tbh, nobody I know buys CDs any more, DVDs either, all available far cheaper digitally (or free!)

  59. 59
    sockpuppet #4 says:

    Whenever you use the word “spend” you should remember to replace it with “invest”.

  60. 60
    Gene Poole says:

    Tough time for Greeks as it is and then you turn up!!, it surely can’t get any worse. There again you’re among your (commie) friends, dont rush back

  61. 61
    Nemo says:

    That is true, but they have sold it on wrapped up in a disguised fiscal intrument which the UK has bought.

  62. 62
    Airey Belvoir says:

    I think that Mary Portas is more of a rug muncher than a cock sucker.

  63. 63
    George Osborne says:

    I’m borrowing money to give to the IMF to give to the Greeks

  64. 64
    Ed Balls says:

    I disagree.

  65. 65
    Moussa Koussa says:

    Labour HQ pay me £1.50 plus a packet of crisps per comment I post. My mum is so proud. She knew I’d be a success one day.

  66. 66
    Nemo says:

    Down boy, DOWN!

  67. 67
    Anon says:

    It helped Lenin – when he seized power in Russia he printed money in order to stoke inflation, destroy all savings and render the entire population dependent on the State for their very survival.

    It kept him in his job for 7 years and it only resulted in tens of millions of deaths.

  68. 68

    How did your one woman show go?

    One woman audience?

  69. 69
    the last quango in paris says:

    I’m off to get my ‘Lyndsay says ease off’ t-shirt printed.

  70. 70
    loungelizard says:

    It’s going to take a lot longer than twelve months to clear up the result of thirteen years under Labour.

  71. 71
    Anon says:

    A few days ago he said HMV had gone bust. In his regurgitated post he says it’s “in bother”.

    What a cock.

  72. 72
    Rowntrees says:

    Economies cannot survive on retail outlets alone.

  73. 73

    From the office of Mr Balls.

    “Look thicko Tory window-lickers.
    If you employ more public sector workers, on high salaries, then they pay more tax.
    And that tax is then used to pay their high salaries and pensions.
    And by retiring at 62 on a decent, guaranteed pension, they can go out and spend money on a hairdo or a new fleece etc for 20+ years. And that improves the VAT take, that pays for the pensions.
    Understand it all now? … morons…”

  74. 74
    Troll-spotter says:

    It’s called “crap-clearance”, dickhead.

    People use their consumer vote to decide what lives or dies on the High Street.

    Shops that are shit – your list, basically – go under.

    Shit overpriced products + shit staff = insolvency.

    Good.

  75. 75
    Applied Keynes says:

    Followed post 1933 by a massive Keynesian policy of money expansion (public works) reducing unemployment for the narrowly defined working class, winning democratic plebiscites. but unsustainable. By 1937 the narrowly defined working class never had it so good but the cracks were beginning to appear. The disaster was masked by war and the complete capital destruction it brought.

    Without the war, Germany would have been bankrupt by 1941.

  76. 76
    Derek Draper says:

    Debt is not a problem.

    Later, I will tell you how to borrow your way out of debt. Not that debt is a problem.

  77. 77
    Anon says:

    A mirror.

  78. 78
    Backwoodsman says:

    Think you’ll find she’s currently a Canterbury Crusader.

  79. 79
    Sophie says:

    Grand Father a coward who refused to fight nazism & fascism, Father a war criminal.

    It must be tough being Will Straw.

  80. 80
    Moussa's current 'dad' says:

    Well post some more you little bastard, then go and buy me some snout and a bottle of vodka.

  81. 81
    Sophie says:

    That woman is a menace & the sooner she & her husband are dealt with the better.

  82. 82
    Steve Miliband says:

    Does anyone buy overpriced cards? Next Sunday is ‘Aunting Sunday’

  83. 83
    Eamonn U Ensis says:

    It is a truth universally accepted by people elsewhere in the World that the UK is the land of plenty…….if you can get across the Channel you can never be deported and live on the state for the rest of your life….forget about IDS reforms…nothing is gonna change on that front…everyone of us has “Sucker” invisibly tatooed on our forehead from birth and foreigners think that we’re a total load of mugs who deserve to be conned out of benefits…no government whatever party they are has the “balls” to tackle the problem despite all the rhetoric on immigration an getting people off benefits into work…it’s NOT gonna happen!! We have NO control over the immigration that is the problem i.e. immigration from the “new” EU member states in eastern europe…another gift from Blair and Labour that just keeps on giving…….

    http://www.dailymail.co.uk/news/article-2008837/Food-parcels-sent-primary-school-migrant-farm-worker-parents-children-hungry-protest-benefits.html

  84. 84
    Andy Gray says:

    Less talk about QE please, more about Miss Lohan.

  85. 85

    I think that Lindsay shaves her Lohan.

  86. 86
    Sally Bercow tweets says:

    I like a bit of Quantity Eased into me

  87. 87
    Postlethwaite says:

    To give to the greek banks

  88. 88
    Sophie says:

    Indeed.

    But its not even started under Blue Labour and the Heathite Cameron.

    Cut taxes by 25%, business and personal.

    Cull the public sector by 50%

    Withdraw from the EU

    These are the only measures that will begin the process of rebuilding our country and economy.

    I presume that Conservatvies still want those things?

  89. 89
    Socialist Law of Economics says:

    You always get more money out of a tax-system that you put into it.

  90. 90
    Smig says:

    She’s not bad for a Ginge!

  91. 91
    Albert Hall says:

    Lindsay is the sort of chick that would go for a bloke like me in a big way. And I’m not talking about a hammer either.

  92. 92
    Anon says:

    I’m a Conservative and I don’t want those things.

    I want the public sector cutting by 90%, not 50.

  93. 93
    Drop a Daisy cutter on the BBC says:

    Yet again some dozy bitch on BBC News gives Liebore scum a free ride, when will someone at the BBC have the balls to challenge Liebore about what cuts they would have made?

    When the Tories were in opposition the BBC continually harassed Tories over their spending plans.

  94. 94
    Time 2 CTRL, ALT & DEL says:

    There must be more Totty with more wisdom to impart.
    Even if they have nothing to say you could put their picture up.

  95. 95
    Postlethwaite says:

    Wonder how long it will be before she leave the country to pay much less tax elsewhere?

  96. 96
    Nemo says:

    Very true, its not only governments though it’s individuals, the number of people from what you would call professional classes (never mind the plebs at the bottom of the heap) get themselves into trouble with loans and credit card debt, these are the people who should know better, they do not stand an earthly of paying back, bankruptcy does not have the stigma that it used to have and it was made easier by the last shower, it will happen again and again until the powers that be get their act together, the banking fraternity are not even like they used to be lending to all and sundry, the more people borrow the more their credit rating gets provided minimum payment is met, then they start what in the old days was called cross firing cheques only this time it’s done with credit cards. I have every sympathy with the person who is borrowing to buy their home saved for a deposit, made regular payments, never defaulted, then they lose their job and are unable to get another one.

  97. 97
    sockpuppet #4 says:

    One might note that modern QE was used in Japan, and it wasn’t disasterous, but then they’re sensible and productive.
    Many European countries spent more than they could afford and deflated out of trouble. It was crap, but its what the IFUKPIGS nations were used to. They were supposed to have got out of the habit when they joined the euro.

    QE might work if:
    * you don’t get used to the idea and hooked on it. ie short term.
    * the money gets spent on something useful.
    * the current situation is so bad, that in 2-5 years time things will be much much better.

    Clearly with politicians in charge, none of the three conditions is likely to be true, other than when 3 is “I’m facing an election”.

  98. 98
    Yasmin Allah-Baba-Brown says:

    Will Straw could be a traitor and a war criminal as much as his ancestors. He just needs the chance to prove himself. Perfidity is in the Straw blood – it’s what they do.

  99. 99
    Nemo says:

    What have I done wrong now said the wrong thing?

  100. 100

    True story: A woman, during the German inflation, picked up her wages in her laundry basket. On the way home, she realised that a shop actually had some food inside and, putting the basket down on the pavement, went in to buy some. When she emerged from the shop, the money was still there – but the basket had been stolen.

  101. 101
    Anonymous says:

    86 year old Hef needs a little help with his inflationary concerns these days, as he introduces his new 25 year old girlfriend.

    http://celebrity.aol.co.uk/2011/06/28/hugh-hefner-girlfriend/

    Looks like he’s going for the older more mature type these days.

  102. 102
    Billy Bowden is the greatest umpire ever ! says:

    i wonder if her assests will go from boom to bust?

  103. 103
    Moussa Koussa says:

    Any further news on Shale. A witness has come forward, stating that she saw two men leaving the cabin just minutes before he was discovered

  104. 104
    Nemo says:

    Go AWAY

  105. 105
    all male short list says:

    by flying out of the country and interfering in the affairs of another nation Harman is indeed giving great aid to the UK. if only we could find similar socialist busybody look-at-me junkets for the other 364 days the world, or rather this little corner of it, would be a happier place.

  106. 106
    annette curton says:

    What took you so long?, I could see that one coming a mile off [sic].

  107. 107
    lezza watch says:

    Does this count as totty watch?

  108. 108
    Eamonn U Ensis says:

    Even if the Greek parliament vote through the austerity measures Greece is finished.They will be unable to privatise the necessary number of publicly owned companies that the EU requires it to do and the Greek public will not accept the measures. We should just let them deafult and leave the Euro…the only reason that the bail out is in place is because the French and Germans are cacking themselves over Greece due to the insane levels of debt their banks hold……I give the whole thing until August before it goes tits up and Greek defaults.

    Greece should never have been allowed anywhere near the Euro…..at least we’ll have no more nonsense(although I see Blair is still hoping one day that the UK will join the eurozone but then he’s in election mode for EU Presdent in 2 years time)about the UK joining the Euro. Had we done so we would have dwarfed Greece’s economic problems ten fold.

  109. 109
    Nemo says:

    She wouldn’t be seen dead in Hull

  110. 110
    Kevin T says:

    Invest is just a more reassuring-sounding word for “gamble”.

    “I invested £100 on Asian emerging markets” sounds more impressive to the ignorant than “I gambled £100 on Flying Fancy placing in the 3:30 at Chepstow”.

  111. 111
    slapper watch says:

    Totty? hahahahahahahahahahahaha

  112. 112
    Anonymous says:

    NOT concrete pump!!!

  113. 113
    ichabod says:

    Excuse my semi ignorance–but isn’t Ms Logan the ‘actress’ who is always getting into drink and drug related scrapes ? And not being exactly reliable when in employment. Or am I thinking of Britney Spears, or someone else. Though obviously she looks a comely wench, who comfortably passes the Max Miller test.

  114. 114
    Engineer says:

    Off Topic.

    Just read the Chinese Premier’s article in the Telegraph (an edited version of his speech to the Royal Society, apparently). It confirms that in the longer term, we’ve got nothing to fear from China.

    Why? Well, they want to make China a socialist state! Give it a couple of decades and they’ll be skint!

    Course, they might just be saying that to wrong-foot us….

  115. 115
    ok lets play says:

    Were they dressed as either of the following, Cowboy, Builder, Policeman, Indian or Biker?

  116. 116
    Gordon Brown says:

    Miss Lohan gives me a burst of inflation

  117. 117
    Billy Bowden is the greatest umpire ever ! says:

    Ok, WTF no parliament can bind another , so whats the beef with this?

    http://www.dailymail.co.uk/news/article-2008905/Our-backdoor-Greek-bailout-UK-forced-double-IMF-payment-20billion.html

  118. 118
    George Osborne says:

    No! – It’s paying the pensions of people who retire between 47 and 53 years old. It’s subsidising their free underground railways etc etc.

  119. 119
    ichabod says:

    …And of course, she is obviously not a M*sl*m !!! OK Guido ?

  120. 120
    Engineer says:

    It does to Angela Eagle.

  121. 121
    E Balls says:

    So what?

  122. 122

    “Its the quality, not the quantitatively that counts.”

  123. 123
    Engineer says:

    Bogs at major public gathering get used by people – shock, horror.

  124. 124
    Gordon Brown says:

    My botty needs easing.

  125. 125
    Labour destroyed the UK economy says:

    Victoria was not a dyke, but Linsay is!

  126. 126
    George Osborne says:

    Ed Gonad must be right look how good a job he did last time he was in charge

  127. 127
    Micawber MK II (Labour) says:

    “Annual income twenty pounds, annual expenditure nineteen nineteen six, result misery. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result happiness.”

  128. 128
    annette curton says:

    We know you screwed the old lady of Threadneedle street, several times.

  129. 129
    Engineer says:

    Well, on the ‘infinite number of monkeys’ theory, sooner or later a celebrity is almost bound to say something sensible (probably inadvertently).

    Still, it’s as good an excuse as any to publish a picture of a pretty girl in a sexualised pose, which will annoy Batty Hatty and give the lads something to smile about – so fair enough, I say.

  130. 130
    Moussa Koussa says:

    Fav Shale comment

    “””The widespread perception is that our party plunders its members at every
    turn. We rarely miss an opportunity to pick a member’s pocket. Their money
    disappears into a bottomless pit. And then we ask for more. Ad nauseam. Ad
    infinitum as well. If ever we say thank you, there’s always another please not
    far behind. We treat our members like an addict treats his dealer. Over the
    years we have come across as graceless, voracious, crass, always on the
    take “””

    How very true

  131. 131
    jgm2 says:

    Tut tut. Couldn’t they just have gone back to their tent for that sort of thing.

  132. 132
    Grumpy Old Man says:

    Oooh, I do hope her taxi turns the wrong way from the airport…..

  133. 133
    Moussa Koussa says:

    ohhh the conspiracy thickens. If you attempt to post any extract from Bog Boy’s document….modded

  134. 134
    misterned says:

    There is a clue in the title of the governing party. The socialist party. People should have realised what they would eventually get when the Greeks had run out of everyone else’s money.

    Mind you, I think that the idea of the Greek socialist government stealing the hard earned wealth of Northern Europe would appeal to the rich of Greece who realised that they could keep their hard earned money for a change and allow their government to pillage from the rest of the EU’s taxpayers instead.

    Whilst I fundamentally agree with freedom of expression, speech and thought, I do believe that the time has come to outlaw Greek style socialist economics across the EU.

    Oh hang on….. It was wasn’t it, as a condition of joining the Euro?

    Yet the rest of the EU finds itself having to bail-out crooked banksters and the fraudsters in the Greek Government and all the idiots who voted for them too!

  135. 135
    jgm2 says:

    Ned is quite literally going for broke. On the grounds that it would be foolish to deny that it was Labour economic policy that fucked the UK economy he is now claiming credit for the Labour economic policy that fucked the economy. He’s decided that rather than try and defended the Labour economic policy that fucked the UK economy he will hold it up as a beacon of prudence and responsibility.

    It’s a plan I suppose.

    He really is the most demented fucker.

    If CMD is the heir to Blair then Balls is truly the heir to Brown.

  136. 136
    Grumpy Old Man says:

    Greece should never have been allowed anywhere near the Euro…and neither should Italy,Spain,Portugal, Eire……

  137. 137
    Tax Payer says:

    Not having the bollx to do change something isn’t the same as not being able to change something.

  138. 138
    pierrepoint says:

    True
    London thrives on shisha cafe’s and internet cafe’s
    Ahmed opens one , then moussa opens one next door then mohammed tries his hand, they all go bust within 3 months and then it starts again , thats all these “enterprising” thrid worlders can come up with, that or a phone card booth
    Then they go back to a home paid for by idiots

  139. 139
    Grumpy Old Man says:

    So that’s where Gordon and blinky got the idea from!

  140. 140
    Kevin T says:

    What does it say about the left that they are so inflamed with anger and hatred towards an organisation that fights for taxpayers to get value for their money?

  141. 141
    Anonymous says:

    It should start with MP’s salary and pension. Its not gold plated its made out of gold £65,000 salary, second home interest £24,000, salary for partner and kids £104,000, etc.

    http://www.parliament.uk/documents/commons-information-office/fymp/m05.pdf

  142. 142
    Billy Bowden is the greatest umpire ever ! says:

    Nope it was the D word, that included a small gree vegtable.

  143. 143
    pierrepoint says:

    And just what was thsi “billion dollar” trade deal Cameron signed?
    Has he ordered 2million plastic ducks
    Who the fuck is spending thisBillion and on what?
    How is it quantified?

  144. 144
    Moussa Koussa says:

    It’s been at least 6 weeks since Hyena Boys Big Society Re-launch Re-launch. Surely we are due a re-launch re-launch of the re-launch

    What is Billy and Bill posting today, surely you both should be preparing work when you take over lessons in one of your local schools on Thursday….. Or are you both Big Society Deniers

  145. 145
    Inspector Knacker says:

    And is it physically possible, three people in a portaloo?.

  146. 146
    Handycock (Teen Fondler) says:

    We are a compassionate society in the UK, that is why we accept so many persecuted immigrants from the 3rd world and give them homes and benefits, and then, when we have granted them residency, let all their immediate family in as well. It is right that we should do so. Liberal Democrat policy is, quite rightly, for unrestricted immigration. This has a number of benefits. Firstly they will all vote for us as a result, and secondly, we conscientious MP’s can visit these 3rd world countries where the immigrants are coming from, to see their conditions at first hand. We can also check out their women.

  147. 147
    Archer Karcher says:

    Ah, such heartwarming tales. Yet strangely, people like Miliband still exist and still spout the evil mantra as if it was the milk of kindness.
    Worse still, people still buy the shit.

  148. 148
    YorkshireLad says:

    Is it not the case that all these ‘expert’ economists can claim whatever consequences they want knowing that what will be done will render their analysis irrelevant?

  149. 149
    jgm2 says:

    If you don’t like it then resign from the Tory party Moussa.

  150. 150
    Afghanistan Banana Stand says:

    Perhaps this is something you could do more often on a Tuesday Guido?

    Sort of an antidote to R&M on Monday.

  151. 151
    jgm2 says:

    David Blanchflower, formerly of the MPC and a favourite of Gordon Brown,

    Blanchflower is the very embodiment to the lie of BoE independence. If you scoured the globe you could not find an economist who would advocate lower interest rates than David Blanchflower. And that was before any sign of a recession.

    Blanchflower was hand-picked by Brown for the ‘independent’ BoE to keep interest rates artificially low and keep his debt-fuelled ‘miracle’ economy on the road. The very fact that Brown hired him should be reason enough to ignore every fucking word he says.

    Will Straw might as well be citing Ned Balls or Gordon Brown for their economic insight.

  152. 152
    jgm2 says:

    My loal school isn’t going on strike. Mind you it is a private school.

    I look forward to the NUT opening private schools to show those Tories how to run a school properly.

  153. 153
    Archer Karcher says:

    In short, everything you need to know about lefties.

  154. 154
    Ryan Giggs' super injunction says:

    If you have a brown face you get a handout

  155. 155
    misterned says:

    Colonial scrip worked very very well for a long time. As did tally sticks in the UK for many centuries.

    Contrary to what the bankers, the economists and the media will condition you to believe, the printing of money is not intrinsically bad. It is the printing of too much money, without adequate controls which is bad.

    Even worse is the creation of interest bearing debt, without creating the means to repay the debt+interest is what creates even greater problems.

  156. 156
    misterned says:

    And as there is no way to edit a comment, I shall reply to my own comment to add that it is the increase in printing of money, year on year, that is inflationary.

    There needs to be appropriate and adequate controls upon the money supply, based on the level and type of trade which occurs and the size of the population.

    Without this then the greed of those in control of, or with influence over, the issuance of currency will inflate for their own ends.

  157. 157
    2Billion Dorrars of Bonds Every Day says:

    Yeah, it’s become China’s toilet.

  158. 158
    Squeaker Bercow says:

    Yes.

  159. 159
    Major Eyeswater says:

    I am volunteering all the liquidity she needs.

  160. 160
    non believer says:

    OooOoooOOoooh, fiscal conservatism and an ex child star who is now sadly little more than a desperate attention seeking .drug addict.. who’s been used and abused by half of the population of the west coast of the united states.

    what a heady mix for a gin blossomed nosed middle age blo gger who has run to fat (and his bloated equally past it readership.)

  161. 161
    Nemo says:

    They will open it up especially for Hatty

  162. 162
    Nemo says:

    I don’t know if it is still the case but weren’t most of the biggest shipping magnets GREEK

  163. 163
    Nemo says:

    I can’t remember if it was this blog or Capitalistsatwork but someone mentioned the German and French banks had got at least 2 of our banks to insure the loans, DOH!!!!!!!!!

  164. 164
    Nemo says:

    Yeh, verily, it is all Greek to me!

  165. 165
    misterned says:

    So Moussa, you want the tax-payer to subsidise shops which sell shit that nobody wants to buy?

    Market forces are in play in the high street. I notice that you do not mention the boom in online retailing and the high number of retail businesses who are not in trouble, but manage to compete by efficiently supplying their customer’s needs.

    OH and every pub in the country was being kicked to death during the time of the last two labour governments, if you hadn’t actually noticed. Pubs are closing because people can buy very cheep booze almost 24/7 from supermarkets at a price that a pub cannot compete with.

    Instead of going to the pub with mates for a night out, risking life and limb in bars full of drunken violence, people find it cheaper and more friendly and much safer to buy their booze at the supermarket and then have friends round to watch films or play on console games or whatever they like to do in the privacy of their own homes.

    What a group of people could have easily spent just on booze in the pub, can now stretch to all the booze + food + a couple of DVDs to be enjoyed solely with friends.

    That is market forces too. Sad that the local pub is in decline, but if they offered something that customers wanted at a price that they are willing to pay, then they would not be going bust.

    I notice young people out on the pull are still filling nightclubs up and down the land, and filling gutters with vomit and blood too.

  166. 166
    Major Eyeswater says:

    Cheap credit for the poor is the politician’s favourite, ultimate lie – the financial equivalent of eating your kids – however the greatest cost of this policy is not the destruction of wealth: we end up loosing our freedom at a compound rate.

    Just ask the Greeks.

  167. 167
    Zeno says:

    It’s not even as though anyone should be surprised. Didn’t Enoch Powell back in the 60s (I think) comment that a country couldn’t be sovereign without control of its currency?

    The Euro has always been a political, not economic, project: it’s about weakening nations to the point they have to do what the big guys – the French and Germans – want. That’s already happened to the weakest economies: it will invariably happen to the others.

  168. 168
    misterned says:

    True enough. They feel like the government should have automatic access to everyone (else’s) entire income to spend on their behalf.

    There are only two ways for a government to create money (wealth) in the economy.

    1). Borrow it and have the banks create it. Problem being that as soon as it is created, even more is owed than exists and so it is unsustainable.

    2). Encourage trade internationally and tax the proceeds from the sale of goods and services. This is the only money that a government can recycle freely within an economy.

    Either way, taxing is only a brake on economic activity and creates no new wealth whatsoever. It merely moves existing wealth around.

    The fact that the tax-payer’s alliance is looking out for the welfare and well-being of taxpayer’s is a good thing.

  169. 169
    Zeno says:

    Strictly speaking, Weimar Germany. One of the reasons the National Socialists got into power was the social dislocation that hyperinflation caused.

  170. 170
    misterned says:

    Er.. no. It is only the banks that get more money out of a system than they put into it. In fact the system depends on it. Once it stops happening, it starts to collapse very quickly indeed.

  171. 171
    Zeno says:

    And probably a better grasp of Balls than Brown, Canterbury notwithstanding.

  172. 172
    Major Eyeswater says:

    “Economists estimate that 2m private sector workers are carrying the brunt of the tax load while a million public sector employees and 1.3m self-employed escape almost financially unscathed.” Torygraph.

    If we fail to flatten taxes the UK will go the same way as Greece, with the public sector monkey on your back piling on the pounds and anyone who can evade/mitigate such high taxes choosing to do so.

    What are the odds that the MSM will make the obvious comparison between the Greek and UK public sector? They’re both on strike this week to get YOU to pay their pensions…

  173. 173
    Zeno says:

    I didn’t so much run to fat as stagger a bit and fall face-first into it.

  174. 174
    Major Eyeswater says:

    Pete – he’s doing a wee bit more than that:

    He’s printing money
    to buy the Gilts
    to borrow the money
    to give to the IMF
    to give to the Greeks
    to pay the banks
    to prop up the Euro
    to pay for Europe
    to take our freedoms

  175. 175
    Nu Attack Dog says:

    Time to ban teh intarwebs

  176. 176
    Cynical Old Man says:

    Actually, Postlethwaite, it was Weimar Germany that created the mega-inflation of the 1920’s. The problems that caused created the conditions for the Nazi Party to exploit and gain enough votes to get a foothold in government. During that time it actually cost the Weimar government more to print the money than its nominal worth. Hitler, once in power, created massive public works projects to get the unemployed working again and money into their pockets. Big business helped out with financing, but he still couldn’t get enough money to pay for it. Of course, the persecution of the Jewish population and the theft of their money helped fill Nazi coffers, but the only way he (temporarily) balanced the county’s books was to invade other nations and steal their wealth.

    The E.U ( whose aims were initially envisioned by both Napoleon Bonaparte and Hitler) are more or less doing the same thing by stealth instead of military muscle.

    Here endeth today’s lesson.

  177. 177
    Throw the boot in Jail says:

    Lohan is a selfish cow who should be in Jail before the spoiled rich airhead kills someone on the Road. She can piss off.

  178. 178
    David Laws Lib Dem fiddler says:

    Huhne, Alexander and McClegg would have us in the single Euro currency if they could. Read Huhne’s paper on it in 2002. They want the UK to be the Euro land of the free- welfare, immigration, university education etc. They still do not understand that providing free university education to EU students will help all our international competitors in industrial growth.

    Providing free university to EU students is madness; providing university education to the Chinese might have short term gain for tuition fees- financially small beer. Long term the loss is huge as they strive to match the West’s intellectual property market for engineering and science and the like required for industrial output.

    Willetts is a half wit and friend of Lie Dems as we know, but you would have thought someone in government would wake up to the fact that top university places should be reserved for the brightest of this country for the long term benefit of this country.

    One reform not considered by half wit Willetts is the scrapping of PPE at oxbridge, it would be better to have a degree in Posh and Becks studies as our politicians have shown through he managing of our economy.

    As for Will Straw, he needs to go back sniffing the weed. His brain is addled and his father’s failure as role model shows no bounds.

  179. 179
    loungelizard says:

    You mean Constapative Easing, left us covered in the Brown stuff.

  180. 180
    Jimmy says:

    “Guido (neo-Hayekian)”

    Salma?

  181. 181
    The Golem says:

    Actually, Sophie, I think such ideas are well on the way to being thought crimes in Westminster.

  182. 182
    Audemus Dicere says:

    That’s $500 per duck!

  183. 183
    Wynn D Miller says:

    Put a sock in it.

  184. 184
    Osama the Nazarene says:

    Easy on the eye though, while you sound like a ranting, raving looney.

  185. 185

    Interesting to know that she’s a Monetarist rather than an Austrian.

  186. 186
    Honest View says:

    I’m not going to ask the Greeks anything- except maybe why you complain that having lived way beyond your means for years, you won’t tighten your belts and try to run a responsible economy. Why you’d rather take the hard-earned money of Northern Europeans (including sucker Brits) but won’t get sorted and pay it back. Why you think retiring at 50 on nearly full salary is something you deserve. Why you think paying no tax is fair enough.. Actually, there’s quite a lot the Greeks need to explain.

  187. 187
    Iloathlefties says:

    I agree with whatever she says. Lush Tottie!!

  188. 188
    Iloathlefties says:

    Can we place this information on Ancestry.co.uk??

  189. 189
    Iloathlefties says:

    Just keep her in Egypt!!!

  190. 190
    MAD FRANKIE HADDOCK (not Maude) son of COD says:

    I would like to Quantitively Ease one up her !

  191. 191
    sandown says:

    We should invite Lindsay Lohan over to this country to give a lesson in elementary finance and economics to Sir Mervyn King (Governor of the Bank of England) and to his Monetary Policy Committee.

    Today, Sir Mervyn was quoted as saying that the Committee would only vote for sharp rises in interest rates if it believed that inflation might run permanently out of control. “We don’t see that at present,” he said.

    It appears to have escaped his notice that inflation has been running at more than twice the level that the MPC is required to hold it to, for some years now.

    King was one of the 364 “economists” who signed a letter to The Times in the early 1980’s saying that Mrs Thatcher’s monetarist policies would never work.

    Over to you, Lindsay.

  192. 192
    Sicko says:

    The Lady Gaga wristbands thread is over there ——-➛

  193. 193
    Sicko says:

    They’re going through the whole alphabet with that concept; the week after is ‘Bunting Sunday’ and there’s a whole lot of excitement about the week after that…


Seen Elsewhere

Mirror Hacking: 50 Legal Action Claims | Press Gazette
Mandy’s £400,000 Tax-Free Loan From Own Company | Guardian
Why We Must Remember the Holocaust | Hugo Rifkind
“Adjustments” Not Cuts | Gary Gibbon
The New Puritans | Alex Wickham
British Minister in Watch Gaffe | Straits Times
New Tory, New Danger | Laura Perrins
UKIP Could Work With Dave If Price is Right | Douglas Carswell
Cops Catch Crims With B.O. Test | Techno Guido
Bashir’s “False Account” to His Own Lawyers | Times
Injustice of Tax Avoidance Hysteria | City AM


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