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Labour spending too much from beyond the grave

Doomsday clock for global market crash strikes one minute to midnight as central banks lose control
http://www.telegraph.co.uk/finance/11805523/Doomsday-clock-for-global-market-crash-strikes-one-minute-to-midnight-as-central-banks-lose-control.html
*ctrl+f*
*types "Labour"*
*404*

What are you chatting on boy?

But yeah, I love chaos. People in suits who do nothing but play with numbers/wave their hands frantically losing their **** is like a chocolate covered orgasm to me.

The inner sadist in me really comes out when people are under pressure. Kinda like when I wanted the bad guys in Power Rangers to win but they rarely did :sad:
Original post by Drunk Punx
*ctrl+f*
*types "Labour"*
*404*

What are you chatting on boy?

But yeah, I love chaos. People in suits who do nothing but play with numbers/wave their hands frantically losing their **** is like a chocolate covered orgasm to me.

The inner sadist in me really comes out when people are under pressure. Kinda like when I wanted the bad guys in Power Rangers to win but they rarely did :sad:


Labour were and still are blamed for causing the last global economic meltdown for spending to much. It's a joke.
Original post by ChaoticButterfly
Labour were and still are blamed for causing the last global economic meltdown for spending to much. It's a joke.


Interestingly enough, I recently read an article released in 2013 that said the Tories have borrowed more in 4 years than Labour did in 13 years. They've also somehow managed to create more debt than every Labour government combined, apparently.

I have neither the time nor the inclination to test the veracity of these statements, nor the understanding of economics required to sort the truth from the bull****.

So while that doesn't necessarily offer anything to contradict or deny your statement, it does provide a source of great amusement for me considering that the Tories promised that the debt mounted on the country by Labour would, at the very least, be reduced by now. And yet strangely, should these claims be true, it seems to have gone in the opposite direction.

It also gives me an increasing amount of despondency regarding how we, as a reasonably and comparatively intellectual country, keep managing to vote for utter bastards who say one thing then do the polar opposite.

So if these statements do in fact turn out to be true (seeing as they were made by the guy who runs Another Angry Voice, someone who has a reasonable grasp of both politics and economics and is therefore a somewhat credible source, it's likely that they're not within the realms of bull****. For those who think he's a Labour boy through and through, try this on for size: [when someone suggested he was defending Labour] "Pointing out facts isn't defending Labour. New Labour were an appalling bunch, but nowhere near as malicious and incompetent as the Tories."), I wonder if the people who keep blaming Labour for the continuing financial struggle this country is facing will say "...oh".
Original post by Drunk Punx
Interestingly enough, I recently read an article released in 2013 that said the Tories have borrowed more in 4 years than Labour did in 13 years. They've also somehow managed to create more debt than every Labour government combined, apparently.



On not knowing enough about economics. You just got to try and latch onto some experts who's theories and observations you think match up to reality as best as possible and who are good at explaining things. My pet economist is Steve Keen (was one of few to predict 2008 financial crisis), he seems to be trying to approach economics in much more scientifically rigorousness way than most. His life's mission seems to be to make economics much more pluralistic and scientific and promoting his minksy based models.

Another is robert skidelsky (who is a conservative Keynesian), here is on what you just described.
"more borrowing – and the extra debt interest that brings – means that there is less money to spend on schools and hospitals’. But if less borrowing reduces the size of the economy – and therefore of government revenues – there will be even less to spend on schools and hospitals.‘More spending means higher taxes for hardworking people’ – not if it causes the economy to grow more than the spending."

http://www.skidelskyr.com/site/view/blog/
(edited 8 years ago)

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