Sunday, January 15, 2012

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.


Seen Elsewhere

Users of Gay Hook-Up App Grindr Infected | TechnoGuido
ISIS Raising Funds Online Using Bitcoin | TechnoGuido
UKIP’s Youth Challenge | BBC
ISIS Operative: This Is How We Send Jihadis To Europe | BuzzFeed
Shapps Defends Bashir Defection | Seb Payne
Tory Leadership Contenders Jostle Over Europe | Alex Wickham
Cutting Taxes is Good For You | Art Laffer
Suspects Will Now Have to Prove Innocence | Laura Perrins
Labour Cllr: Cops Shouldn’t Stop Petrol Thieves | HandF Forum
Creeping Cultural Acceptance of Anti-Semitism | Eric Pickles
Time For Greece to Leave Eurozone | Allister Heath


Rising Stars
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Boris on British Jihadis. Apparently based on MI5 intel:

“If you look at all the psychological profiling about bombers, they typically will look at porn. They are literally w***ers. Severe onanists. They are tortured. They will be very badly adjusted in their relations with women, and that is a symptom of their feeling of being failures and that the world is against them. They are not making it with girls, and so they turn to other forms of spiritual comfort — which of course is no comfort.”


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