Who Wants Boris Back?

Newchodge

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    It's a debate that comes up often.

    As ever, there are too many variables to reach a proper conclusion.

    However, as a matter of absolute fact, it is possible to eat tasty, nutritious meals on a limited budget.
    It certainly is, but it is becoming harder if you can't afford to turn the cooker on.
     
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    IanSuth

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    I very carefully said this

    "I am sure they are reacting to local demographics to maximise profit but I think it becomes a bit of a feedback loop"

    Of course people have control of what they put in their bodies but there is a reason supermarkets stack their shelves the way they do and it is because research shows they can influence shopping habits by how and where they display things.

    ERGO - if they display the ready meals and prepackaged junk (i include jar things like Dolmio & Chicken Tonight in this category) in the places that their research shows increases purchases and they display the better option in other places then it creates a feedback that people get used to buying what they "feel" is easier not what is right

    Of course supermarkets have a right/responsibility to make as much £ as they can but the same way we no longer display fags on the tills they ought to responsible on how they promote certain food types.

    I worked with a guy who was a bit of an eco warrior and a veggie (well no red meat) but he kept buying jars of pasta sauce, his excuse was that as he ate later than the rest of his family it was "too expensive" to cook a sauce as "the rest of the onions and peppers go off before they are used, and the tins of napolina tomatoes with herbs are so expensive", asked why on earth he couldnt buy an onion if he was that worried or why they weren't using onions anyway it was "my wife only has time to cook what the kids like for them which is stuff like fish fingers and beans or pizza and if we want a lasagne (made with quorn mince) she doesnt have the time for all the faffing around so a jar of white and a jar of normal dolmio was the obvious answer"

    He really couldnt/wouldnt see that once he had a jar of mixed herbs or italian herbs sat in his cupboard that a tin of tomatoes and onion and a pepper would do him a sauce for his pasta that was better, healthier and nicer for half the price and do more than 1 meal.

    His children and mine went to the same infant and secondary schools - they kept trying to do cooking lessons but it was all "how to make rocky roads" as if they did real food the parents didnt send in the ingredients and/or pay for the ingredients. So there is a not a lot the schools can do either (at the secondary school the one teacher who taught home ecc retired and they stopped the subject as not enough interest to warrant finding a new one)
     
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    MBE2017

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    Not an expert, but I think the UK now has three generations of people who have not prepared their own food from fresh, mended their clothes etc.

    Much easier and more convenient for most to buy new, order in takeaways and buy ready meals you just heat up, most know no different now, and such things are not taught in schools anymore.

    My daughters car broke down the other day, whipped out my multimeter and tracked down a blown fuse and faulty relay, saving her £50-100 in the garage. She struggles to understand how I know such things, she has never needed to be able to fix anything.

    I try to interest my daughters in such things, but the internet and social media is a powerful foe.
     
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    Time you opened your eyes.
    Price of wholesale gas now a lot lower than a few months ago and most countries able to utilise LPG which is easier to transport by sea. Why the price of electricity is linked to the price of gas when only 50% is gas generated is beyond me. It should be a blend. Despite gas providing under half of the total electricity in the UK, in recent years it set electricity costs 84% of the time. If we actually paid the average price of what our electricity now costs to produce, our bills would be substantially cheaper.
    I cannot find who decided this was a good idea but it seems to be in the 1970's so another ridiculous Labour idea.

    Day-Ahead-Wholesale-Gas-Prices-24.10.22-1024x634.jpg
     
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    IanSuth

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    Not an expert, but I think the UK now has three generations of people who have not prepared their own food from fresh, mended their clothes etc.

    Much easier and more convenient for most to buy new, order in takeaways and buy ready meals you just heat up, most know no different now, and such things are not taught in schools anymore.

    My daughters car broke down the other day, whipped out my multimeter and tracked down a blown fuse and faulty relay, saving her £50-100 in the garage. She struggles to understand how I know such things, she has never needed to be able to fix anything.

    I try to interest my daughters in such things, but the internet and social media is a powerful foe.
    Last Sunday I rode my daughters motorbike to her uni in Uxbridge (it had been left in my back garden before her last rugby match) she jumped on the back and i took her to her away match in Hammersmith. Afterwards she was setting off back on ARoads (L-plated125) whilst i got a lift back with a team mate.

    Got to about Gunnersbury and my phone rang, her clutch cable had snapped, she had got the bike safely to the edge of the road but was unsure what to do next (on a Sunday early evening in the rain), I had to get a bus to her (she was behind shepherds cross tube) jump on her bike and ride it 14 miles to her uni without a clutch down the a40 through heavy traffic whilst she got a bus back. (I beat her then got a train home).

    she has ordered a new one (£7) and tonight with the help of My Haynes she is going to be sat at her uni replacing the cable with me on the phone if needed. I told her when she got it she needed to be able to do simple repairs herself but I dont blame her not wanting to do the journey i did with her much lower road experience.
     
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    Clinton

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    Back to the original topic, Boris.

    We didn't get him this time, but if it's any consolation to @Newchodge, Boris could come back in the 2024 election.

    In the meanwhile, we'll have to make do with Sunak. But, as usual with the UK, when the job gets too difficult for a white guy, they outsource it to an Indian!
     
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    MBE2017

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    Back to the original topic, Boris.

    We didn't get him this time, but if it's any consolation to @Newchodge, Boris could come back in the 2024 election.

    In the meanwhile, we'll have to make do with Sunak. But, as usual with the UK, when the job gets too difficult for a white guy, they outsource it to an Indian!
    More to do with Goldman Sachs, since 2005 there have only been a handful of days where a Goldman Sachs Alumnus has not held the position of prime minister , finance minister or central bank chief in a G-7 economy.

    Make you think.
     
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    Paul Norman

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    Back to the original topic, Boris.

    We didn't get him this time, but if it's any consolation to @Newchodge, Boris could come back in the 2024 election.

    In the meanwhile, we'll have to make do with Sunak. But, as usual with the UK, when the job gets too difficult for a white guy, they outsource it to an Indian!

    This thread did rather wander! Which is fine, of course.

    But yes. I cannot be certain that Boris is forever gone!. Neither do I really hope that.

    He premiership covered a fairly tricky period of history. Nothing, really, was typical about it. And for sure, he can be politically clumsy.

    Do not underestimate Kier Starmer's ability to spaff a 36 point lead in the opinion polls utterly up the wall in 2 years. And Rishi is now tasked with some tough economic decisions which will make him a few enemies.
     
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    Newchodge

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    Back to the original topic, Boris.

    We didn't get him this time, but if it's any consolation to @Newchodge, Boris could come back in the 2024 election.

    In the meanwhile, we'll have to make do with Sunak. But, as usual with the UK, when the job gets too difficult for a white guy, they outsource it to an Indian!
    Please don'y be racist.
     
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    Do not underestimate Kier Starmer's ability to spaff a 36 point lead in the opinion polls utterly up the wall in 2 years. And Rishi is now tasked with some tough economic decisions which will make him a few enemies.
    It is unlikely to last two years. The cards are being dealt anew and after the pack has been shuffled, we shall look down at our hand and instead of seeing hearts, clubs, spades and diamonds, we see Mr. Bun the Baker and friends.

    Elsewhere, in that A Common Thing thread, house prices raised their heads and the housing market was compared to the 90s with neg. equity, etc. I feel that is wrong. This time around things will change so dramatically that all the old rules will be broken - indeed, they are being broken today and everywhere we look.

    Reasons -

    1. Debt. The UK, the US, the EU, China - all with unbelievable levels of debt that can never be repaid. Mathematically, they cannot be repaid - unless we get super- or even hyperinflation, i.e. 100% p.a. or 50% p.c.m.

    2. Information. Everybody knows everything instantly. That has never happened before in the history of mankind. As I stated in that thread, one person in a housing estate is forced to sell for 20% less than the 'Zoopla' price and INSTANTLY every person on Planet Earth can see that and reprices every house on that estate accordingly!

    In the past, I had to wait for the newspapers to arrive to check out what the stock markets around the world were doing - now I can watch them as they move from second-to-second! That means every market, from meat to grain, from houses to cheese is getting exponentially more volatile!

    3. Globalisation. Love it or hate it, everywhere is connected to everywhere else today. If China crashes, the effects around the planet will be profound - and if the US defaults on its massive debts, the results will be even more profound.

    Every card in the pack is really just another domino! And every national leader is desperately hiding the extent to which their domino is about to fall. It could take one crappy little country like Greece or Egypt to implode and, just like Lehman Bros, others far larger could follow. (I am not saying that they will, but the danger is there!)

    4. Sentiment. The Americans call it 'Bifurcation'. A clumsy word for splitting apart. The US is splitting into a fairly left-wing Democratic Party and a Republican Party that has been kidnapped by right-wing extremists that genuinely want blood! Behind these extremists is a billionaire named Barre Seid who last year donated his electronics manufacturing company, Tripp Lite, to a nonprofit tied to the radical right called Marble Freedom Trust. The political scene over there is like nothing we have ever seen before - these people are totally looney and out of their skulls!

    At the same time, the world is 'bifurcating' East and West. The Saudis are siding now with Russia and China and planning their own Eastern bloc digital currency, the West is doing the same and planning their own currency, known at the mo as CBDC (Central Bank Digital Currency). The two worlds are colliding in Ukraine and Russia is trying to drag Belarus into its malaise.

    The upshot of all this strife is a world that is at war with itself - and quite where that ends is anybody's guess!

    But back to the Batmobile - Boris? Nope. If a great statement were to suddenly stride upon the Westminster stage and drag one, or better still, BOTH political main parties back to reality then maybe there would be hope for UK PLC. But Boris has neither the backbone nor the intellect of a Churchill or a QE1 and he certainly does not have the moral authority!

    As for Sunak -

    In the meantime, the UK Prime Minister is a former employee of Goldman Sachs, a company so mired in greed and controversy that it has been described "The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money."

    Rishi Sunak, (our third PM in seven weeks) has scrubbed his Goldman Sachs and hedge fund career from his LinkedIn profile and from his official government bio. But, unfortunately for Sunak, those careers have been assiduously chronicled in countless newspaper articles for more than a decade – and not in a good way.

    Sunak worked at Goldman Sachs from 2001 to 2004, and left to obtain his MBA at Stanford University, following which he joined TCI hedge fund in 2006 as a partner and worked there until 2009, when he left to co-found the hedge fund, Theleme Partners with Patrick Degorce. Sunak worked at Theleme Partners until 2014, when he moved into conservative politics in the U.K. That’s a total of 13 years involvement in those financial markets that created the 2008 crash and Sunak has reduced his involvement to one short sentence in his bio.

    Former GS employees are at the very top of every financial institution in the West - from the Fed to the BoE and the ECB and now the PM - all GS alumni. The very institutions that have created the mess we are in are now are today controlling almost every lever of power in the Western world.

    I don't hold out much hope there!
     
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    Newchodge

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    It is unlikely to last two years. The cards are being dealt anew and after the pack has been shuffled, we shall look down at our hand and instead of seeing hearts, clubs, spades and diamonds, we see Mr. Bun the Baker and friends.

    Elsewhere, in that A Common Thing thread, house prices raised their heads and the housing market was compared to the 90s with neg. equity, etc. I feel that is wrong. This time around things will change so dramatically that all the old rules will be broken - indeed, they are being broken today and everywhere we look.

    Reasons -

    1. Debt. The UK, the US, the EU, China - all with unbelievable levels of debt that can never be repaid. Mathematically, they cannot be repaid - unless we get super- or even hyperinflation, i.e. 100% p.a. or 50% p.c.m.

    2. Information. Everybody knows everything instantly. That has never happened before in the history of mankind. As I stated in that thread, one person in a housing estate is forced to sell for 20% less than the 'Zoopla' price and INSTANTLY every person on Planet Earth can see that and reprices every house on that estate accordingly!

    In the past, I had to wait for the newspapers to arrive to check out what the stock markets around the world were doing - now I can watch them as they move from second-to-second! That means every market, from meat to grain, from houses to cheese is getting exponentially more volatile!

    3. Globalisation. Love it or hate it, everywhere is connected to everywhere else today. If China crashes, the effects around the planet will be profound - and if the US defaults on its massive debts, the results will be even more profound.

    Every card in the pack is really just another domino! And every national leader is desperately hiding the extent to which their domino is about to fall. It could take one crappy little country like Greece or Egypt to implode and, just like Lehman Bros, others far larger could follow. (I am not saying that they will, but the danger is there!)

    4. Sentiment. The Americans call it 'Bifurcation'. A clumsy word for splitting apart. The US is splitting into a fairly left-wing Democratic Party and a Republican Party that has been kidnapped by right-wing extremists that genuinely want blood! Behind these extremists is a billionaire named Barre Seid who last year donated his electronics manufacturing company, Tripp Lite, to a nonprofit tied to the radical right called Marble Freedom Trust. The political scene over there is like nothing we have ever seen before - these people are totally looney and out of their skulls!

    At the same time, the world is 'bifurcating' East and West. The Saudis are siding now with Russia and China and planning their own Eastern bloc digital currency, the West is doing the same and planning their own currency, known at the mo as CBDC (Central Bank Digital Currency). The two worlds are colliding in Ukraine and Russia is trying to drag Belarus into its malaise.

    The upshot of all this strife is a world that is at war with itself - and quite where that ends is anybody's guess!

    But back to the Batmobile - Boris? Nope. If a great statement were to suddenly stride upon the Westminster stage and drag one, or better still, BOTH political main parties back to reality then maybe there would be hope for UK PLC. But Boris has neither the backbone nor the intellect of a Churchill or a QE1 and he certainly does not have the moral authority!

    As for Sunak -

    In the meantime, the UK Prime Minister is a former employee of Goldman Sachs, a company so mired in greed and controversy that it has been described "The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money."

    Rishi Sunak, (our third PM in seven weeks) has scrubbed his Goldman Sachs and hedge fund career from his LinkedIn profile and from his official government bio. But, unfortunately for Sunak, those careers have been assiduously chronicled in countless newspaper articles for more than a decade – and not in a good way.

    Sunak worked at Goldman Sachs from 2001 to 2004, and left to obtain his MBA at Stanford University, following which he joined TCI hedge fund in 2006 as a partner and worked there until 2009, when he left to co-found the hedge fund, Theleme Partners with Patrick Degorce. Sunak worked at Theleme Partners until 2014, when he moved into conservative politics in the U.K. That’s a total of 13 years involvement in those financial markets that created the 2008 crash and Sunak has reduced his involvement to one short sentence in his bio.

    Former GS employees are at the very top of every financial institution in the West - from the Fed to the BoE and the ECB and now the PM - all GS alumni. The very institutions that have created the mess we are in are now are today controlling almost every lever of power in the Western world.

    I don't hold out much hope there!
    One wuestion that has always intrigued me about national and international debt. If everyone and everywhere is in debt (and I agree that it is) to whom or what is that debt owed?
     
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    japancool

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    One wuestion that has always intrigued me about national and international debt. If everyone and everywhere is in debt (and I agree that it is) to whom or what is that debt owed?

    The general public, either directly or through pension funds and institutional investors. Also to institutions like the IMF and other countries.
     
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    MarkOnline

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    One wuestion that has always intrigued me about national and international debt. If everyone and everywhere is in debt (and I agree that it is) to whom or what is that debt owed?
    I secretly think it will be like some complex mathematical equation where after everything is cancelled out 3 or 4 large countries will owe the USA a tenner each.
     
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    Clinton

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    Within a week of Sunak in No 10, Labour's lead in the polls has dropped from 26% to 17%! It will presumably drop further (unless Sunak manages to screw up).

    That just goes to show that people still don't trust that lot. Despite the absolute circus we've had in the Tory party, Labour still aren't trusted.

    There's good reason.

    People who deserted the Tory party in recent polls because of the shanigans were quick to return the moment they saw some semblence of order in the party, even though the party is still quite cr*p!

    Some die hard Labour supporters won't see it, their hatred of the Tories is too great and is all that drives them, but Labour have nothing fresh, nothing new, no good ideas and their leader is about as interesting as a used tampon.

    As much as I disagree with @Newchodge on political matters, I would agree with her that Jeremy Corbyn had a bold vision, firm ideas, an unwavering position. I do not align with those ideas but I respect him for taking positions and having the backbone to stick to his positions (often, not always) even when things got awkward for him. Good guy. As nutty as a fruitcake, but he came across, to me at least, as honest and decent.

    Not so Starmer. He vaccilated on the Brexit position - (firmly against/ supporting a new referendem / going back in / continuing to stay out / stay partly out and apply to join the common market again - flip flop, flip flop), on anti-semitism, on everything.

    Boris is a clown. People see him as a clown. But he is funny so they vote for him.

    Starmer is also a clown. But he pretends he isn't. That's the problem and it makes it easy to ridicule him as Boris does here to make fun of the fact that Starmer couldn't explain what a woman is.
     
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    I would agree with her that Jeremy Corbyn had a bold vision, firm ideas, an unwavering position.

    So did Liz Truss but she went too far. Any socialist is a lost cause and every previous Labour Government has resulted in empty coffers and commitments to wasters that cannot be met.
     
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    Newchodge

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    So did Liz Truss but she went too far. Any socialist is a lost cause and every previous Labour Government has resulted in empty coffers and commitments to wasters that cannot be met.
    It's strange. The Conservatives are known as the party that looks after the economy; it is amazing how myths develop. If you look at the figures it is the Conservatives who really have the worst record for borrowing while in power (even if you ignore the last 3 years).
     
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    As much as I disagree with @Newchodge on political matters, I would agree with her that Jeremy Corbyn had a bold vision, firm ideas, an unwavering position. I do not align with those ideas but I respect him for taking positions and having the backbone to stick to his positions (often, not always) even when things got awkward for him. Good guy. As nutty as a fruitcake, but he came across, to me at least, as honest and decent.
    It always bugs me when I see Jeremy Corbyn described in such terms. He is not ‘a man of principle’ – he is a man of prejudice, who views everything through the lens of someone anti-western, anti-American and anti-NATO.

    This is the ‘man of peace’ who voted against the Good Friday Agreement because it didn’t give the IRA everything they wanted – a united Ireland. This is the ‘man of peace’ whose ‘Stop The War Coalition’ thought the 2015 massacre of 130 French civilians by Islamic terrorists was justified.

    This is the idiot who says we shouldn’t send a drone after a jihadist who cuts the heads off foreign aid workers but dispatch plod and his truncheon to arrest him. Who describes the death of Osama Bin Laden as ‘a tragedy’.

    This is the hypocrite who bangs on about Islamophobia but utters not a peep when the followers of Islam chuck gays off tall buildings or treat women as chattels. Who froths with anger at Western military action but has nothing to say when Russian cruise missiles target urban populations.

    This is the dissembler who is violently anti-Semitic but denies it, preferring a mealy-mouthed condemnation of all racism. The man who will always excuse the brutal excesses of a so-called ‘socialist’ state and always condemn any failure by a liberal democracy.

    Oh no – Jeremy Corbyn.
     
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    Newchodge

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    It always bugs me when I see Jeremy Corbyn described in such terms. He is not ‘a man of principle’ – he is a man of prejudice, who views everything through the lens of someone anti-western, anti-American and anti-NATO.

    This is the ‘man of peace’ who voted against the Good Friday Agreement because it didn’t give the IRA everything they wanted – a united Ireland. This is the ‘man of peace’ whose ‘Stop The War Coalition’ thought the 2015 massacre of 130 French civilians by Islamic terrorists was justified.

    This is the idiot who says we shouldn’t send a drone after a jihadist who cuts the heads off foreign aid workers but dispatch plod and his truncheon to arrest him. Who describes the death of Osama Bin Laden as ‘a tragedy’.

    This is the hypocrite who bangs on about Islamophobia but utters not a peep when the followers of Islam chuck gays off tall buildings or treat women as chattels. Who froths with anger at Western military action but has nothing to say when Russian cruise missiles target urban populations.

    This is the dissembler who is violently anti-Semitic but denies it, preferring a mealy-mouthed condemnation of all racism. The man who will always excuse the brutal excesses of a so-called ‘socialist’ state and always condemn any failure by a liberal democracy.

    Oh no – Jeremy Corbyn.
    The Daily Mail is, often, guilty of exaggeration.
     
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    Clinton

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    So did Liz Truss but she went too far.
    Yes, Truss had some radical ideas, what Labour supporters would call far right, extremist ideas :) but they were not half as radical as Corbyn's at the other end of the scale. There are economists who would see merit in her approach (just as there are economists who'd see merit in Corbyn's!). She made the fatal mistake, however, of not juggling the information ball skillfully, and not getting the right institutions behind her, and she lost the confidence of the market. That's eventually what sunk her, not the policies themselves.


    If you look at the figures ...
    I looked and looked at your post and couldn't find any figures. I tried turning the page upside down. Still couldn't find any. I often have these problems with your posts. Must go to specsavers.

    Let me provide some:

    Public sector net debt was £347 billion when Labour came to power in 1997 and £1,011 billion in 2009/10, their last financial year in power.

    That’s a 191% rise over 13 years.

    The financial crisis of 2008, not to mention Labour's profligate spending, and even selling off the family gold at the bottom of the market, meant the ecomony was handed to the coalition in a bit of a cr*p state.

    The Tories had to fix that. That required a lot of borrowing. Still, from 2009/10 to 2016/17 Tory chancellors showed only a 71% rise (over 7 years).

    Then there was the pandemic. That required a lot of borrowing as well.

    You really think borrowing would have been a lot lower over the last 12 years if Labour were in power through the pandemic etc rather than the Conservatives / Coalition? Seriously!? Labour were screaming blue murder about Osbourne's "austerity". Remember that? And you think they'd have spent less than the Tories if they had been in power?!

    But you can selectively quote stats to prove whatever you want. Die hard Labour supporters will take the Tory borrowing record over that post credit crunch period and the pandemic - 12 years so far - to compare it with the previous 13 years of Labour being in power where there were no such national emergencies (till the tail end of their stint in office). And, yes, that will show Tories borrowed more. What it doesn't say is that borrowing would have been a lot, lot more if Labour were in charge.
     
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    MBE2017

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    All pointless arguments IMO, end of the day all politicians love spending other people’s money, ours. Until people start realising only they can spend their money in even a half decent manner things will not change.

    Obviously we require Gov for certain spending, a National defence, healthcare, looking after the disabled etc, but we now have the State meddling in every part of our lives, dictating what we spend what little we have left to a large degree.

    Look how useless we have become as a Nation, we cannot even protect our own shores against thousands of boats crossing from France, for fear of being called racists or some other nasty word.

    With no formal method to apply to coming to these shores, thousands do so illegally, then it takes sometimes longer than three years to hear the cases and get a decision.

    Other countries have sorted out this problem yet no party has yet done so in this country. Until the UK starts taking control of this and other problems we are destined to run around like headless chickens.
     
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    There are economists who would see merit in her approach
    I have not seen or heard from one solitary economist who thought there was one atom of merit in her so-called policies!
    She made the fatal mistake, however, of not juggling the information ball skillfully, and not getting the right institutions behind her, and she lost the confidence of the market. That's eventually what sunk her, not the policies themselves.
    She made the mistake of not knowing what she was doing and appointing a chancellor who knew even less than she did! That so-called mini-budget would have failed to pass as an economics A-Level essay. It showed a fundamental lack of understanding of the mechanics of the bond markets and of how money works.

    It deserved to get the bum's rush from the bond markets and even old Ray Dalio (hardly a lefty radical, but the founder of the world's largest hedge fund) emerged from hibernation to condemn it for a lack of economic understanding.

    As for quoting figures - here's a real doozy - let's look at this from a purely Thatcheriste PoV. And I am hardly a fan of Thatcher as she did a great deal of damage to the economy, but as you are a fan of hers, I'll use her as a yardstick -

    Thatcher spent nine years getting Britain's house in order after the disaster of the Wilson / Callaghan / Heath years of drift and turmoil. Nine years. Then and only then, did she embark on her policies for growth and tax reductions.

    If we take off the time spent attending the Queen's funeral and other functions, The Lettuce and Boy Wonder spent nine days before launching their budget for growth - and it was so ill-thought-out that (IMO) it looked like the work of fewer than nine hours!

    Then there was the pandemic. That required a lot of borrowing as well.
    I have yet to calculate the true cost of the lockdowns, but I have calculated the cost of the deaths and the costs for treating the illness itself and it came to roughly $100bn. The cost of the lockdown will be many times that figure.

    Interestingly, the one country that did not lock up its citizens and did not visit Pinocchio's magic money tree, Switzerland, suffered only a mild rise in inflation to 3.4% and had far fewer deaths. Visiting the magic money tree has never been an answer to anything (other than "how do we make ourselves poorer in the long run?")

    We conclude from that sobering fact that it was a mistake to lock down the entire population and a gargantuan mistake to drop vast sums of borrowed helicopter money onto the population.

    The answer is to be found in the quantity equation of money, as outlined by Copernicus in 1517. Rocket science it am not! Unfortunately, that equation does not fit the popularist dogmas of either Left or Right. Like any physical law - and it is a physical law and not some abstract theory - it annoys politicians because it shows up their daft ideas to look the foolish nonsense that they are!

    Because they hate any physical law that prevents them from implementing their foolish policies, they ignore them - but they do so at their peril!

    And in case you are wondering what is the answer to Britain no longer being the Sick Man of Europe, it is to be found in the quantity equation of money - productivity! That means making things that people want to buy. It matters little if that is movies, motor cars or music, Britain has to stop playing silly games of shuffling paper back and forth and get to work actually making stuff!

    Then and only then, can UK PLC prosper!
     
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    Newchodge

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    We conclude from that sobering fact that it was a mistake to lock down the entire population and a gargantuan mistake to drop vast sums of borrowed helicopter money onto the population.

    Both of those were generated by the baying English public who require the Government to support them at the drop of a hat. This continues to be true. The lock down was discussed on this forum and the majority agreed then it was the way to go including Science with a few dissenters that Sweden had the right idea so I don't think you can simply blame which ever Government was in office at the time. Any of them would have had the same issue.
     
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    Both of those were generated by the baying English public who require the Government to support them at the drop of a hat. This continues to be true. The lock down was discussed on this forum and the majority agreed then it was the way to go including Science with a few dissenters that Sweden had the right idea so I don't think you can simply blame which ever Government was in office at the time. Any of them would have had the same issue.
    All sorts of hysterical nonsense that is popular at the time (e.g. Fascism) turn out to be gargantuan mistakes in the long run.

    As for Minford - Even Minford would defend Thatcher's policy of spending nine years preparing the ground for lowering taxes and going for growth.

    Minford's teachings shadow those of Milton Friedman and are reflected today in the teachings of Prof. Steve Hanke. And Old Milty drove about in an old Cadilac with the numberplate MV=PY - the quantity equation of money. Yes, we're back to Copernicus again!

    Milty got the Nobel Prize for economics and his writings on monetary theory and as Dickens might have written - my unhallowed hands shall not meddle with the equation or the country is done for!

    Yes, that equation looks simple enough, but like Relativity or Ohm's Law, understanding that law and all of its implications is a whole different bag of nuts!

    Truss and Boy Wonder understood zip. Zero. Nothing!

    One thing I have had to learn the hard way - you cannot introduce any change of direction or policy suddenly and with a bang - that will always blow up in your face. You must gradually restructure first and get the basics right.
     
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    Newchodge

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    Yes, Truss had some radical ideas, what Labour supporters would call far right, extremist ideas :) but they were not half as radical as Corbyn's at the other end of the scale. There are economists who would see merit in her approach (just as there are economists who'd see merit in Corbyn's!). She made the fatal mistake, however, of not juggling the information ball skillfully, and not getting the right institutions behind her, and she lost the confidence of the market. That's eventually what sunk her, not the policies themselves.



    I looked and looked at your post and couldn't find any figures. I tried turning the page upside down. Still couldn't find any. I often have these problems with your posts. Must go to specsavers.

    Let me provide some:

    Public sector net debt was £347 billion when Labour came to power in 1997 and £1,011 billion in 2009/10, their last financial year in power.

    That’s a 191% rise over 13 years.

    The financial crisis of 2008, not to mention Labour's profligate spending, and even selling off the family gold at the bottom of the market, meant the ecomony was handed to the coalition in a bit of a cr*p state.

    The Tories had to fix that. That required a lot of borrowing. Still, from 2009/10 to 2016/17 Tory chancellors showed only a 71% rise (over 7 years).

    Then there was the pandemic. That required a lot of borrowing as well.

    You really think borrowing would have been a lot lower over the last 12 years if Labour were in power through the pandemic etc rather than the Conservatives / Coalition? Seriously!? Labour were screaming blue murder about Osbourne's "austerity". Remember that? And you think they'd have spent less than the Tories if they had been in power?!

    But you can selectively quote stats to prove whatever you want. Die hard Labour supporters will take the Tory borrowing record over that post credit crunch period and the pandemic - 12 years so far - to compare it with the previous 13 years of Labour being in power where there were no such national emergencies (till the tail end of their stint in office). And, yes, that will show Tories borrowed more. What it doesn't say is that borrowing would have been a lot, lot more if Labour were in charge.
     
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    I have not been back to see if you pontificated against lock down or the QE before it was introduced because with hind-sight everyone has 20/20 vision.
    Byertorial here - https://www.ukbusinessforums.co.uk/...rits-died-and-no-one-took-much-notice.405696/

    As for QE - I have been shouting about visiting Pinocchio's Magic Money Tree by governments and central banks for well over two years! Don't tell me you missed it!

    I have been warning elsewhere and not on this forum about the dangers of QE for far longer than that. Certainly since the 2008 blow-up.

    @japancool even once asked me in 2021 if I would commit ritual suicide if my predictions of stagflation prove to be wrong and I assured him that I would indeed indulge him and even post a video of my demise on YouTube!

    Well, here we are - it's started happening folks and right on time! So no video!

    Enjoy the ride!
     
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    japancool

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    @japancool even once asked me in 2021 if I would commit ritual suicide if my predictions of stagflation prove to be wrong and I assured him that I would indeed indulge him and even post a video of my demise on YouTube!

    Well, here we are - it's started happening folks and right on time! So no video!

    I still think it would be worth doing...
     
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    Newchodge

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    Is it really such a train smash? So she may not have known she was doing wrong and now knows better. The papers and "reporters" have to have the most insignificant issues to sink their teeth in and "guide" the public.
    It is the security experts concern that worries me most!

    Richard Dannatt, the former head of the British army, accused the pair of “ill discipline” and “poor judgment” on Sunday. “This, frankly, is not good enough,” he added. “If these people aspire to be in senior positions, positions of leadership, they’ve got to be disciplined.”

     
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    Well, Sunak's regime has got off to a great start - it's beginning to look like chaos as usual!

    U-turns ahead on Cop-27.

    Braverman in trouble about the disgraceful conditions at the Manston refugee camp and in even more trouble over sending confidential documents via her private email account to private individuals outside of government. Very strictly speaking, this is not just against the ministerial code, but if those docs were marked 'Confidential' then that would be a violation of the Official Secrets Act.

    Ministers get lectures on security from MI5, so they are left in no doubt about what is and is not permitted. They cannot claim any grey areas of misunderstanding. They are made absolutely clear what is and is not permitted.
     
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