October 25th, 2012

Talking Balls

It was less than fifteen minutes after the GDP news was announced before Balls’ people started calling for more borrowing and spending on the back of the news:

Two hours later they have has managed to scramble together a line:

“A one-off boost from the Olympics is welcome. But it is no substitute for a plan to secure and sustain the strong recovery that Britain desperately needs if we are to create jobs, get the deficit down and make people better off.”

Balls chooses to simply ignore the ONS stating that it only 0.2 of the 1% change was down to the Olympics.

Funny how abnormalities are only considered when the growth is positive.


137 Comments

  1. 1

    Ed Balls: Who ate humble pie? who ate humble pie? you fat bastard, you fat bastard, You ate humble pie!

    Like

    • 12
      Cut the ropes NOW says:

      France and Germany tumbling towards recession, economists warn as crisis in eurozone deepens

      http://www.dailymail.co.uk/news/article-2222581/Now-Germany-gets-sucked-deeper-eurozone-crisis-new-business-results-worst-figures-years.html

      Like

    • 27
      Sir Crispin Slapentickell says:

      His fox is shot, that’s what I say!

      Balls was counting on disaster but George Osborne has played a blinder and Labour are looking stupid. Just goes to show how flexible the economy is and how this will help the recovery pick up speed.

      Like

      • 61
        Archer Karcher says:

        “played a blinder”

        Useless party troll alert.

        Who in their right mind increases taxes and energy costs during a recessioon? Step forward Gormless Gideon Osborne, Bilderderger stooge and yes man.
        Coming shortly to cement his useless list of ‘achievements’ a Carbon Tax, guaranteed to squeeze even more life from the economy.
        Why is it that ALL socialists are so f*kking useless and don’t understand free market economies at all?

        Like

        • 85
          Reason says:

          My taxes went down.

          Like

          • jgm2 says:

            So did ours. They went from 50% to zero.

            50% tax? Fuck off.

            Like

          • misterneddy says:

            And the ever reliable BBC turned Growth into an economic depression inside five paragraphs:

            “We have to bear in mind of course that there is some give-back following the poor second quarter and also we’ve got the Olympics effect,” said Sarah Hewin, senior economist at Standard Chartered.

            “The underlying situation of the economy is probably a 0.2 to 0.3% quarterly growth.”

            The trouble is that with all these caveats, this does not feel like the UK is turning a corner, and it is perfectly possible that the economy will contract again in the final quarter of the year when it does not have the benefit of the Olympic effect.

            “Regrettably, economic growth remains a lot flatter than this headline growth figure suggests,” said Prof James Mitchell from Warwick Business School.

            “This remains the longest lasting depression in economic history.”

            - http://www.bbc.co.uk/news/business-20080765

            Like

          • Biased Broadcasting Corporation says:

            Quelle surprise.

            Like

    • 29
      Show him your bottoms says:

      Like

    • 53
      Anonymous says:

      This is the problem at looking at things in the short term. It would have been better in few months time for Cameron and Osborne to be still in a double dip recession rather then end up being the 1st government that ended up in triple dip recession. Its like a drunk on top of the tree showing off, wait for the fall.

      I do support the view that debt need to be cut the problem is, this government is cutting the meat more than fat and even increasing the fat. E.g. foreign aid, benefits increased by almost 6%, cutting tax super rich pays and increase tax on all others, EU payments, giving money to basket cases in EU (including over £7.5 bn to Ireland), etc.

      Like

      • 55
        jgm2 says:

        What ‘meat’ is it cutting?

        Like

        • 63
          Anonymous says:

          Investment in infrastructure, training, etc. There is no point in increasing benefits bill every day. Debt has increase by almost 22% compared to last year. H2C will be wast of money, should go for investment that will make a profit.

          Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime. This government just want to give fish every day.

          Like

          • jgm2 says:

            This government just want to give fish every day.

            I think you’ll find it is the bedwetters who want to keep folk as state dependants.

            T*ry philosophy is to encourage folk to take care of themselves instead of sitting there in their shitty ‘safe’ Labour seats with their hands out.

            Like

          • M says:

            Then the EU ban you from fishing the end up on benefits .
            The circle is complete

            Like

    • 57
      Mr Rotivator says:

      I notice that the Beeb is taking Ed Bal’ls line and saying its down to the Jubilee (which was in the previous quarter and resulted in an extra bank holiday) and the Olympics.

      Like

      • 109
        Anonymous says:

        Brillo tied Balls in knots today in the Daily Politics mid-day show;it was a joy to behold.If someone with more ability than I possess with computers would like to provide a link I am sure it will be appreciated by other readers of this blog.
        The smile that appeared on the face of the other participant as she watched Balls squirm almost matched that on my face.
        Brillo on top of his brief & at his best.

        Like

    • 70
      Anonymous says:

      borrow and spend. …can we see some competence too? thanks.

      Like

    • 77
      Anonymous says:

      Him and Lardy Prescott who barfed it up in the toilet.

      Like

    • 79
      Laughing hangman says:

      Being crisped by Brillo at the moment.

      Like

  2. 2
    JH says:

    These fuckers are shameless.

    The Olympics was a giant two week distraction, as much a drain on GDP as a plus.

    Tax and spend, tax and spend, tax and spend. It’s all they know how to do.

    Like

    • 15
      jgm2 says:

      Quite so. I’m sure I saw a whole heap of reportage at the time showing that hotel occupancy, tourist numbers and retail spending were well down as a result of the Olympics.

      Like

    • 31
      Rob Coyle says:

      No, it’s more like Tax and waste, tax and spend, tax and waste. These people cannot be trusted to spend money wisely. They will give it away to the bankers, they will give it away with PFI, they will give it away to their union paymasters.

      Like

    • 43
      Sailor on Shore Leave says:

      I’m pissed and they spend worse than me

      Like

  3. 3
    Dennis McShane's Shed says:

    Balls is a lying, fat, sweaty bag of shit. That’s all we need to know about him.

    Like

  4. 4
    Anonymous says:

    ok so 0.2% is down to the olympics but of the 1% don’t forget there’s a 0.7% margin for error.

    Like

    • 6
      Four-eyed English Genius says:

      So it might be 1.7% then!

      Like

    • 59
      Anonymous says:

      Short term very good news, long term triple dip recession is very bad news than double dip. Triple dip is where UK is heading.

      Like

    • 83
      Sir WW says:

      None of these figures is worth much. For a start, GDP does not exist. It is a quantity imagined by economists as a proxy for the vague idea of ‘the size of the economy’. The definition of GDP changes. Measurement of GDP is based on sparse, incomplete, inaccurate and out-of-date information.

      GDP figures are more useful than, say, Mystic Meg’s tea-leaves, but unlike them should be taken with a large pinch of salt. Saying that x% of growth in GDP was caused by the Olympics is just a guess.

      Like

    • 113
      Anonymous says:

      They don’t mention the decline in tourism, retail sales etc that cancelled out the 0.2% increase arising from flogging a few sports day tickets.

      Like

      • 120
        Pundit too too says:

        Absolutely right and conveniently forgotten by BBC idiots and the rest of the loony left as well as the right.

        Like

  5. 5
    Greedo Muhammad Saeed al-Sahhaf Fawkes says:

    Are we actually celebrating 0.8% growth as good thing? In the context of being one of the lowest rates of growth worldwide?

    Blooming heck Greedo, get some teeth.

    Like

  6. 7
    Steve Miliband says:

    How about a ‘Premiership Football Player’ bonus tax? None of the fuckers pay the full whack

    Like

    • 33
      BBC Pornographic Workshop says:

      The salaries their agents negotiate are net of tax & NI. The club has to gross it up and pay the income tax & NI on the player’s behalf.

      They claim this is the only way to compare offers internationally. It’s a wonder the clubs don’t have hedge against currency fluctuatons for them.

      C.unts.

      Democracy = shite

      Like

    • 50
      Aunty Matter says:

      Just like Paxo then.

      Like

    • 94
      off white says:

      no no no we need a non whitey footballers lawyers association cos dem is more speshall innit. praise de lord if dat ever happen cuz we is gonna be well rich.

      Like

  7. 10
    BBC Pornographic Workshop says:

    Alex Bel ard in elli – that’s a joke name right?

    Like

  8. 11
    Anonymous says:

    This will stop Balls’s annoying comments “too far & too fast” & “the economy is flatlining!” Balls is an irritating fat git!

    Like

    • 23
      jgm2 says:

      Thanks to the Maximum Imbecile we’ve had no overall ‘growth’ since 2003. Almost a lost decade already.

      Like

      • 118
        misterneddy says:

        Correct! Just an unsustainable debt boom which still needs to be repaid with interest.

        Like

        • 121
          Fuhrer Ed Red Balls Up. says:

          Ha ha did you hear me on the BBC World at One tell the world what is wrong in Britain and TELL EVERYONE we need to do much better.
          This government is full of idiots, IDIOTS I SAY, and we in the loony left Labour Party know what to do about it.
          BORROW and SPEND and SPEND MORE until the international bankers realise we do not have a plan and raise our borrowing rates.

          Like

  9. 14
    Not surprised says:

    4G funds are insufficient for housing! VAT should never have been increased and rather than taxing everything in site – why not consider cutting Employer NI contributions and minimum wages to encourage SME’s to take on staff. NI contribution is a tax on jobs and whilst a minimum wage is nice to have, it can be counter-productive. Some people may be prepared to work for less but companies can’t take them on as they are forced to pay the required rate.

    More employees = more tax revenues or am I missing something in my basic understanding of economics?

    Like

  10. 16
    Greedo Muhammad Saeed al-Sahhaf Fawkes says:

    Far from me to be an apologist for the left, but anyone who thinks one quarter of less than 1% standard growth (discounting olympics) means the Tory economic policy has been vindicated is a moose.

    Like

  11. 17
    keddaw says:

    At least 0.2% was down to the additional Bank Holiday the previous quarter too.

    Like

  12. 18
    will says:

    bank bonus tax ha ha. most bankers will not even qualify for this or will just find ways around it.

    How about a tax on premership footballers, imagine poor wayne rooney tearfully stating a have a wife and child with another on the way, how can i afford to run my range rover with this tax. colleen will only be able to have 3 holidays a year.

    come on Ed be imaginative how about a pony tail tax on men over 30 or premiership footballers charged by the lemght of the ponytail. It makes as much sense !!!

    Like

  13. 21
    Moussa Koussa Mark 1 says:

    I really believe you neo nuts are clueless.

    It means nothing. There wasn’t going to be a double dip in the first place according to you lot.

    The Olympics have helped, YES. A long term multibillion public sector project.

    Like

  14. 24
    Burn Them says:

    Like

  15. 38
    Anonymous says:

    Balls by name, balls by nature. The BBC was piling in as usual today with their usual gloom and doom take on life. Wonder what Miliband will have to say about this next week.

    Like

    • 123
      Red Ed Millipede says:

      Nuffin to say.
      It has all been said by my good left hand comrade Balls.
      Doom and gloom, doom and gloom, why can’t the BBC put it to music.
      The Red Flag should do it.

      Like

  16. 42
    Aunty Matter says:

    Why no twatwatch tag for Balls Guido?

    Radio 5 are doing their best to run the economy down today. Anyone would think we’re still in recession. Nicky Campbell had it all arranged this moring but the 1% seemed to piss him off.

    Then Radio 5 were quoting Steph two Ed’s two beds Flanders and her complaining.

    Then Radio 5 who like the rest of the BBC have been moaning about MASSIVE CUTS to the public sector, admitted that 60% of the cuts were actually to infrastructure projects (who where are the massive cuts to the public sector then BBC mongs?)

    The poor old BBC are flailing around trying everything they know to play the good news down. I can’t ever remember the BBC being negative like this when McMong was in charge.

    Like

    • 66
      JH says:

      I can’t ever remember the BBC being negative like this when McMong was in charge.

      Why, of course not. During the 1997-2010 reign of terror I can barely remember ever seeing a Tory MP being given an open mic to voice their opinion on the latest government policy/announcement.

      These days that’s all the BBC do – Labour is given more airtime than the fucking government for Christs sake.

      Couple that with morons like Kate Silverton acting-the-news (1% rise in GDP, sad concerned face, here is Labour’s take) and it is basically unwatchable.

      Like

      • 97
        lunch date says:

        who is fukc is kate silvertounge? and why doesn’t she fukc off?

        Like

      • 116
        Biased Broadcasting Corporation says:

        ‘Acting the news’ is spot on. Another one of their devious ways of telling people what they should think about the news.

        Like

      • 129
        Square eyes says:

        Lots of us don’t watch it anyway. Give it a try. It will make your day. Guaranteed.

        Like

    • 99
      Tron says:

      When I switched BBC R5L I heard nothing but gloom and doom so I assumed the figures were bad.
      When they finally said 1% growth it was followed by BUT blah, blah, Labour say, blah, blah…….

      Like

      • 117
        Biased Broadcasting Corporation says:

        Yes, the Radio 5 Labour crowd absolutely hate it when things are going well for Britain. Just about sums the vile scumbags up. Sod the country, let’s just get The Party back in power at all costs.

        Like

  17. 49
    Dave says:

    Like

    • 52
      What he should be tweeting says:

      There is still much to do, but these #GDP figures show we are on the right track, and our economy is healing after 13 years of Labour incompetence and economic destruction.

      Like

      • 76
        Gonk says:

        And ending with ‘that nearly resulted in Britain flushed down the shitter after being led by someone evil and followed by a misshapen lunatic with a hairy tongue’

        Like

  18. 56
    Trailer Trash wiv 10 kids says:

    Who cares

    Like

  19. 58
    Sir WW says:

    There are already two bank bonus taxes. They are called “income tax” and “national insurance” and they total 65.8% of any bonus.

    If the Revenue fail to collect them, they need either to sack a few senior people at the Revenue, greatly simplify the tax system to make it less porous, or both.

    Like

  20. 60
    Penfold says:

    ~Poor ole Balls, he has talked the economy down for months and based his entire opposition stance to the too deep too fast cuts damaging the economy, only to be proven totalyy and utterly wrong.

    The man is a cnut and is the prime candidate for a date with Mussolini style destiny via a lamppost.

    Like

  21. 64
    BBC Pornographic Workshop says:

    Please remember that we only got Useless Dave as party leader, because some Newsnight editor / producer twat commissioned that gobshite Frank Luntz to do one of his gushing worms on CMU and Dickie David Davis speeches.

    Newsnight landed all of us with a shit PM, useless Government & crap economy.

    Like

    • 105

      I think if you substituted the words “Shit ex-PM Brown who had propped up a useless, lying, profligate government for 13 years and turned a balanced economy into the biggest fuck up since the Great Depression” – you would have been factually accurate and would have made a fair point.

      1/10 – need more revision.

      Like

  22. 68
    Labourunionsbbc we are one says:

    We shall not be reporting this, well certainly not in a positive light.

    jon (poncy way of spelling John) snow is far to busy lamenting the death of a communist comrade, guru mrthey is planning his next bullying another woman session, he gets really mad when taxpayers money is spent on private sector (right wing fascists) people, but will happily ignore the billions wasted on public sector projects and spongers. Small fry is in America bashing romny and calling any one who doesn’t vote for bama a racist, smith, well, she only got the job because . . .

    And although the ‘show’ has nil advertisers in the break – as apposed to RT news which has plenty – they carry on sucking up tax payers money for their hatred of all things English and free market.

    Like

  23. 71
    Anonymous says:

    Balls = Fuckwit

    Like

  24. 73
    I don't need no doctor says:

    That arsewipe Balls is on the Daily Politics. Balls is a complete twat.

    Like

  25. 75
    Anonymous says:

    “Funny how abnormalities are only considered when the growth is positive.”

    The market for considering abnormalities when growth is negative is covered by by the ConDems.

    Like

  26. 81

    “Balls chooses to simply ignore the ONS stating that it only 0.2 of the 1% change was down to the Olympics.”

    MRDA (Mandy Rice-Davies Applies), and the ONS can whistle for it.

    All the Olympic ticket sales over the last eighteen months are included in these figures. Add in the other bunce (media alone reckoned at $9 billion, a substantial proportion of which must have stayed in Britain) and other sources reckon that should be nearer 0.5%. Then there’s the extra Bank Holiday in the previous quarter — Osborne was anxious to have that as an extenuating factor then, so we’d better allow another o.2% this quarter as make-up.

    Suddenly the figures look rather different. Indeed, after two years of ComDemery, the total achievement is +0.6% — the slowest, deadest ‘recovery’ in sixty-odd years. Hoo-bloody-ray! Break out the Bolly!

    Now, here’s a straight challenge: how many of these Tory apologies cheering here will guarantee that the next couple of quarters don’t show a triple-dip recession? Martin Beck of Capital Economics (on the Today prog.) wouldn’t.

    Like

    • 87
      jgm2 says:

      Indeed, after two years of ComDemery, the total achievement is +0.6% — the slowest, deadest ‘recovery’ in sixty-odd years.

      You’ve forgotten the previous SEVEN (yes SEVEN) years from 2003 to 2010 during which there has been no overall growth. Would anybody from Labour care to explain how they managed seven years of zero growth? If two years of +0.6% growth is poor then what is SEVEN years of zero growth?

      Like

      • 101
        JH says:

        …and all in the midst of the biggest credit bubble the world has ever seen, with a housing bubble tacked on its back, with the resulting consumer splurge by idiots who thought a pile of bricks was a cashpoint.

        Meanwhile, this government gets sneered at for a GDP+ figure while that load of shit is still unwinding.

        Evil does not describe these cvnts.

        Like

    • 98
      JH says:

      Yet another never-seen-before poster with an ever-so-imaginative-name, popping up within hours of news Labour desperately did not want to hear. Hmmm.

      But, no. I’m sure you are just a concerned private citizen with absolutely no vested interest, seeking out a blog with a culture far from your own, upon which you seek to educate and inform the reader out of simple, honourable philanthropy.

      God speed to you.

      Like

  27. 89
    Jen The Blue says:

    Just watched the bugger squirming as Andrew Neill took apart his deficit denial on The Daily Politics.

    Slippery lying bully boy that he is.

    Like

  28. 93
    Broken Balls says:

    Ed Balls was utterly torn to shred by Brillo. He had to be rescued by his lady friend from SAGA.

    Like

  29. 96
    Fish says:

    Balls being Brillo’d at the moment – book your seats for the YouTube re-runs. What a devious tosser Mr Testiclodes is, as Stanley Unwin might have called him.

    So this week, we’ve had Mr Balls and Mr Bland touring the studios, albeit on different issues. How apt their names are.

    Incidentally Foghorn Reeves was going around yesterday, talking about a 1% increase in GDP, using the usual device of suggesting a high number and preparing to hammer the Govt when the expected 0.7% was announced. That didn’t go to plan did it Rach?

    There’s fog on the Thames, Rachel….off to work now.

    Like

  30. 103
    Grollace says:

    Ghoulish Politics Show.
    First Ed Balls getting toasted on the hot chair, then
    Jabba the Hut telling us plebs to have fewer kids.

    Like

  31. 110
    HellforLeather says:

    Can’t stand Balls/Labour, LibDims, Cam/Osbo, but…

    If the economy grew, it did so from a relatively low base.

    This is still not a recovery in the real sense (despite a quadrupling of the Olympics spending budget ).

    A Gilligan had an excellent take on the Olympics:
    http://blogs.telegraph.co.uk/news/andrewgilligan/100173202/london-2012-how-the-olympics-could-have-been-worth-having/

    Like

  32. 111
    Tory voter says:

    Why does anyone still listen to this R Sole who screwed the economy in the first place?

    Like

  33. 112
    Disco Biscuit says:

    “A one-off boost from the Olympics is welcome. But it is no substitute for a plan…”

    If he learned basic punctuation he might even earn the right to be heard.

    Like

  34. 130
    Anonymous says:

    Hello,
    People who have savings are being told that they can have £13,000.00 or less in savings, then the council and jobcentre plus are colluding , stopping claimants benefit to force them to use their savings instead of Benefits income.

    Like

  35. 133
    keredybretsa says:

    I mean do me a favour this Balls geez doesn’t know his arse from his elbow. He is a walking deficit for the Shudder Cabinet.

    Like

  36. 136
    dunstall says:

    Balls is the Tories secret weapon as long as he is the voice of Labour on the economy they can winn the next GE he has no credibility as an economist and even less as a politician

    Like

  37. 137
    Viv Dean says:

    Never has a politician been more aptly named.

    Like


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