We do world class recessions

[SirGalahad]

You know damn well it wasn't entirely driven by ideology. Most of europe were under austerity measures, and they didn't have a conservative Govt. You're well aware of the constraints on the spending/borrowing as dictated by the Maastricht treaty, I believe we've had this discussion before.

Anyway, 22 european countries re-opened there schools in May, ours are still shut and the Unions and teachers are bleating about the possibility of them re-opening in September.
How is this the fault of the Govt?, and please don't suggest it's because the gutters are leaking and the doors creak.

Another lie you love to perpetuate even though its been debunked.

Our schools were open - you seem to love making up lies - it does stain your alreay poor argument boyo.

Fillybot needs reprogramming.

 

[SirGalahad]

it’s a national disgrace, we’re a global laughing stock. these ‘professionals’ ‘educated’ people should be ashamed.

Benny you are mental son.

Well its these educated people working on the vaccines and medical advances.

 

[SirGalahad]

Poor wage growth was down to Globalisation and the free flow of cheap labour from Easter Europe, that's why company profits and executive pay soared during the same period.

hahahahahahaha

We have a more service sector based economy and if you knew even an iota about how economies work you could it out - the link with productivity. The BOE seem to think its mainly due to poor worker productivity.

But Globalisation - now if you are saying the reason for low wage growth is increasing trade liberalisation then that is an argument against Brexit?

WTO anyone?

 

[sxturbo]

I


You have just proven you don't know how money works.

Can you tell me how the bank multiplier effect works?

So private debt becomes a liability for the Government to repay? You are just grasping at straws - lol

Niall Ferguson - he's a joke - no wonder you picked that nonce he's up there with the Brexit economist Minford. Ferguson a historian - in case you didn't know.

https://www.businessinsider.com/nia...on-economics-keynes-comments-2013-5?r=US&IR=T

Well you best tell Rishi - we are in a recession then.

If you think that is a detailed reply - lol.

Nothing of value at all in your post other than attempting to shout me down as what I am saying dies not fit your narrative.

Personal debt does have an effect on the economy if a household has too much debt then they have less available money to spend which means there is less consumption, less money for business and less revenue for the government.

Austerity in the UK didn't achieve its aim because the government didn't increase taxes, in fact from what I've read they reduced taxes on some businesses, and then Brexit came along, and so we ended up in a decade of austerity, I believe the original plan was to any be for 5 years, but the government made a bit of a hash of it.

Anyway it's done and in the past now, I believe it was needed but not to the extent it ended was.

Please stop writing drivel, if nom wrong then fine but you need to produce some evidence to prove I'm wrong rather than just saying I am, that's just pointless and not conducive to a discussion.

I'm pretty certain rishi knows we're in a recession, I'm not entirely sure that comment added anything.

 

[noseall]

Ours are still largely shut

When have you seen schools open in August?

We have the worst cabinet line up in the history of Parliament, that includes the Education secretary Gavin Williamson. Boris got rid of all the intelligent capable politicians in favour of Brexers and yes people.

Get Brexit Done, lol.

(thanks brexers, what an utter pile of sh it).

 

[noseall]

Our schools were open

Correct. Filly is just an ignorant Tory. Go easy.

 

[noseall]

Unions and teachers are bleating about the fact they may re-open

What do you think of the Tories - schools re-opening plan?

 

[SirGalahad]

Nothing of value at all in your post other than attempting to shout me down as what I am saying dies not fit your narrative.

Personal debt does have an effect on the economy if a household has too much debt then they have less available money to spend which means there is less consumption, less money for business and less revenue for the government.

Austerity in the UK didn't achieve its aim because the government didn't increase taxes, in fact from what I've read they reduced taxes on some businesses, and then Brexit came along, and so we ended up in a decade of austerity, I believe the original plan was to any be for 5 years, but the government made a bit of a hash of it.

Anyway it's done and in the past now, I believe it was needed but not to the extent it ended was.

Please stop writing drivel, if nom wrong then fine but you need to produce some evidence to prove I'm wrong rather than just saying I am, that's just pointless and not conducive to a discussion.

I'm pretty certain rishi knows we're in a recession, I'm not entirely sure that comment added anything.

I asked you a simple question who creates the money in the economy and how and how much of the total money do they create.

You have not answered as you do not know or are unwilling. This is basic economics which you seem to fail to grasp and its why the rest of your points are built on wrong premise.

What happens to consumption when the debt is spent into the economy?

You have no idea of the debt cycle, money creation, time substitution of money etc.

So your arguing that Austerity was a failure because the Government didnt increase taxes - lol

Again this hits at the heart of your understanding - you are treating Government finances like personal finances. You cannot separate Government spending from income.

Every RWR thinks like this.

 

[Notch7]

Are you really suggesting this is all because the guttering needs replacing

Typical dumb right wing response.

Why are you so happy to argue dishonestly to prove a point, you are just deluding yourself.

 

[Notch7]

The world needs the rich to get richer, if they get poorer who do you think suffers then?

Yeah the poor because the rich will cut them of quick sharp to save their own arses, they can't have less than a couple of mill in the bank, they might need it for a rainy day.

If my boss who owns the company gets poor what do you think will happen? He'll make people redundant. If this redundant people can't pay there bills it has a knock on effect to the next business etc and further reduncies bla bla bla.

It's really quite simple, unless we become a communist state we will always rely on the rich getting richer

Trickle down theory.
It's untrue.

Have a look at Sweden and Denmark - social democracies, left leaning and both countries that have some of the highest numbers of super rich.

UK right wing politics is simply built on vested self interest.
You give the Tories some money and they set the policies you want.

Robert Jenrick, classic example.

Also look at amazon, google etc they don't pay the tax they should
Is that fair?

 

[sxturbo]

So your arguing that Austerity was a failure because the Government didnt increase taxes - lol

No that's just one component as to why austerity failed, austerity can work if done correctly, unfortunately it appears the UK didn't do it effectively, but that's not to say it didn't work to a degree.

Economics is very complex, we could be here all year discussing it.

You think that by magically printing more money that will fix everything with no downsides. By just printing more money it will impact the rate of inflation and so a balancing act must be done.

There are many financial advisors to the UK government and Bank of England and the decisions made by government regarding the economy are largely done with their input, and I'm pretty certain they know a lot more than anyone on a DIY forum

I know how money is created, you can Google it if you can't understand it, I would write it but I'll be on here longer than I want to be, and what's the point of reinventing the wheel if the info is easily at hand.

 

[Notch7]

Just another silly tory bashing post.
Wondered when you would stick yer head above the parapet again.

The truth upsets Ryler.

Poor little snowflake.
How's your mask fitting, nice and comfortable Old Bean?

 

[Notch7]

You think that by magically printing more money that will fix everything with no downsides. By just printing more money it will impact the rate of inflation and so a balancing act must be done

Austerity is only for poor people.

Massive pay rises in the last 10 years for Tory mates.

 

[JohnD]

austerity can work if done correctly

Show us the example on which you base your belief.

 

[sxturbo]

Trickle down theory.
It's untrue.

Have a look at Sweden and Denmark - social democracies, left leaning and both countries that have some of the highest numbers of super rich.

UK right wing politics is simply built on vested self interest.
You give the Tories some money and they set the policies you want.

Robert Jenrick, classic example.

Also look at amazon, google etc they don't pay the tax they should
Is that fair?

no its not fair amazon etc don't pay their due taxes, but this isn't only because of uk policies, they dont pay european tax either, the EU want to change this, but the USA have threatened a trade war if they do, i'm not sure on the latest in this story.

Denmark, norway, netherlands have made few mistakes with there economy and stock piled the wealth from there oil and gas reserves to help promote social change, which incidentally the UK governments failed to do, there is more to it than this one statement, but i'm on the clock.

i do concur that the swedes have managed to find the right balance.

i deal with these countries a lot through work and they certainly seem much happier than we are.

The UK and US economies are heavily based on the trickle down effect and subsequent left biased socialist governments have not been able to break this.

Austerity is only for poor people.

Massive pay rises in the last 10 years for Tory mates.

i'm not disputing that there chums have come out ok