Ernst & Young ITEM club…

“Britain is probably in recession and likely to remain stalled until the second half of the year.”

Marr’s Ed Miliband Interview

He is trying to have it both ways, is that an improvement on getting it completely wrong? On the doorstep the “Osborne’s policy failure means we’re going to have do the same” is going to fall apart. As for crony capitalism, who was in favour of it? The party of Hindujas, Ecclestone, “we must do something for Branson, Tony”, Paul  Myners and Loans for Lordships is now against cronyism…

Via LiarPoliticians

Balls Claims the Mantle of Keynes
Cable Says Keynes Would Support the Coalition

Ed Balls told the Fabians that one of his most precious material belongings is a first edition of a Keynes pamphlet, “The Economic Consequences of Mr Churchill”. Keynesianism is the chosen intellectual mantle that Balls is trying to use with the Labour base to justify pivoting towards the voters and away from union demands for ever more deficit spending and borrowing. Already the Labour left are screaming “sell-out“.

Earlier this year Vince Cable argued that Keynes would not support the demands of latter day über-Keynesians. Cable reminds us that the politicisation of Keynes as a heavy spender is misplaced because Keynes was a liberal, not a socialist and he was writing at a time when the level of state spending in the economy amounted to half of today’s level. Keynes was not a friend of socialism, his policies were intended to save capitalism. Would Keynes have believed government deficit spending at twice the share of GDP as in the 1930s was desirable or sustainable? Cable thinks not, does Balls?

The proof will be in the policy pudding, Labour politicians reflexively oppose every reduction in welfare spending, they are conditioned to do no other. Even when senior Labour politicians know it is electorally toxic, for example opposing the £26,000 housing benefit cap, the “progressive” logic of maximum welfarism that grips their activists brooks no reason. Ed Balls can’t command credibility until he accepts that the deficit is a problem that has to be addressed rather than just acknowledged in theory. In interviews he now says vaguely that he wants to bring down the deficit, yet he is on the record during the Labour leadership election, where he ran from the left, as opposing even Alistair Darling’s modest deficit reduction proposals. Balls ideologically opposes as “too fast, too far” spending restraint by the Coalition. It is hard to believe that Balls isn’t now repositioning towards the centre again for purely electoral reasons, rather than some Damascene rejection of deficit denial.

OZBOT VERSUS ANDROGENOID OZBOT VERSUS ANDROGENOID
“Fat Cats For EU” “Fat Cats For EU”
“CHEATED” LIBDEM PICTURED CAMPAIGNING ON BATTLE BUS “CHEATED” LIBDEM PICTURED CAMPAIGNING ON BATTLE BUS
CHRISTINE HAMILTON HIRED ON THE PUBLIC PAYROLL CHRISTINE HAMILTON HIRED ON THE PUBLIC PAYROLL
CONSERVATIVES IN: SPOT THE DIFFERENCE CONSERVATIVES IN: SPOT THE DIFFERENCE
HULL UNIVERSITY THIRD TO DISAFFILIATE FROM NUS HULL UNIVERSITY THIRD TO DISAFFILIATE FROM NUS
CAMERON’S AIRFARE FABLE CAMERON’S AIRFARE FABLE
TELEGRAPH BLOODBATH: NEW JOBS CULL UNDERWAY TELEGRAPH BLOODBATH: NEW JOBS CULL UNDERWAY
CCHQ FREEZE MPS AND ASSOCIATIONS OUT OF VOTE SOURCE CCHQ FREEZE MPS AND ASSOCIATIONS OUT OF VOTE SOURCE
OSBORNE MISSED BORROWING TARGET BY EVEN MORE THAN PREVIOUSLY THOUGHT OSBORNE MISSED BORROWING TARGET BY EVEN MORE THAN PREVIOUSLY THOUGHT
POLICE INVESTIGATING SHADOW MINISTER OVER ELECTION EXPENSES POLICE INVESTIGATING SHADOW MINISTER OVER ELECTION EXPENSES
TOOTING BY-ELECTION CAMPAIGN KICKS OFF IN BATTERSEA TOOTING BY-ELECTION CAMPAIGN KICKS OFF IN BATTERSEA
ELECTORAL COMMISSION ON JOCK-‘COPTER CAMPAIGN ELECTORAL COMMISSION ON JOCK-‘COPTER CAMPAIGN
STURGEON DUCKS CHOPPER QUESTION STURGEON DUCKS CHOPPER QUESTION
NUS CHIEF EXECUTIVE PAID FIVE TIMES AVERAGE GRADUATE NUS CHIEF EXECUTIVE PAID FIVE TIMES AVERAGE GRADUATE
CORBYN CLAPPED COMMIE LEADER FOR REFUSING TO TOAST THE QUEEN CORBYN CLAPPED COMMIE LEADER FOR REFUSING TO TOAST THE QUEEN
SNP CHOPPER NOT DECLARED PROPERLY SNP CHOPPER NOT DECLARED PROPERLY
SADIQ RAISES EU FLAG ABOVE CITY HALL SADIQ RAISES EU FLAG ABOVE CITY HALL
SAJ ‘PRIVATELY SAID HE WANTED TO LEAVE’ SAJ ‘PRIVATELY SAID HE WANTED TO LEAVE’
CRICK CRICK’D CRICK CRICK’D
EU WANTS CULTURAL QUOTAS ON NETFLIX AND AMAZON PRIME EU WANTS CULTURAL QUOTAS ON NETFLIX AND AMAZON PRIME
LIBDEM WHO COMPLAINED TO POLICE ABOUT TORY ELECTION FRAUD BROKE SPENDING RULES LIBDEM WHO COMPLAINED TO POLICE ABOUT TORY ELECTION FRAUD BROKE SPENDING RULES
LABOUR WON’T ALLOW CONFERENCE DELEGATES TO SELF-IDENTIFY LABOUR WON’T ALLOW CONFERENCE DELEGATES TO SELF-IDENTIFY
WORST BEATLES TRIBUTE BAND EVER WORST BEATLES TRIBUTE BAND EVER
CELEBRITY CONSUMER CHAMPION HITS BACK AT BSE CELEBRITY CONSUMER CHAMPION HITS BACK AT BSE
MOMENTUM REJOICE! ONLY 65% THINK CORBYN NOT READY TO BE PM MOMENTUM REJOICE! ONLY 65% THINK CORBYN NOT READY TO BE PM
TAXPAYER FUNDED ASH LOBBIED GOVERNMENT FOR PLAIN-PACKS TAXPAYER FUNDED ASH LOBBIED GOVERNMENT FOR PLAIN-PACKS
REMAIN’S GILLIAN DUFFY MOMENT REMAIN’S GILLIAN DUFFY MOMENT
NORTHERNERS MOCK “GRIM UP NORTH” BURNHAM NORTHERNERS MOCK “GRIM UP NORTH” BURNHAM
LONG-TERM RISE OF ANTI-POLITICS LONG-TERM RISE OF ANTI-POLITICS