The economy is always in deficit. It has to be. The government defect is the money going into the economy. Cutting to government deficit is to decrease the private (our) surplus.In my memory (1960's onward) the Blair years were probably the best for working classes. Whether he was right or wrong to run the economy in deficit is open to debate. I could even be a Blair supporter if it were not for the war.
interesting to listen to the city that stayed at home . Hull where 9 out of 10 dont bother to vote ... fascinating
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The City That Stayed at Home - BBC Sounds
Alex Forsyth investigates the reasons for Hull's historically low turnout on election dayswww.bbc.co.uk
It used to be said that banks lend money from reserves, indeed, some still do, but the link above shows that the Bank of England itself debunked that myth in 2014.Can the bank lend money it doesn't have? (imaginary money?)
How's that possible? Is money infinite? I can see a National Bank issuing more money (perhaps agains a devaluation of its currency) but a private bank?
The economy is always in deficit. It has to be. The government defect is the money going into the economy. Cutting to government deficit is to decrease the private (our) surplus.
Our modern economy is built on turning debt into an asset.Is there something in the UK's 'oral' constitiution about debt?
Can a government borrow or issue more currency as it pleases?
Yes. But our government debt is someone else’s savings. Cutting government debt tends to increase private debt. Increasing private debt was behind major economic turbulence from the South Sea Bubble to the Wall St Crash and 2008.Can cutting debt not be balanced by a tax increase?
Yes. But our government debt is someone else’s savings. Cutting government debt tends to increase private debt. Increasing private debt was behind major economic turbulence from the South Sea Bubble to the Wall St Crash and 2008.
Our modern economy is built on turning debt into an asset.
Remember that The Bank of England was created when a group of investors got together to buy the war debts of William III. They didn’t do that out of kindness?
I’m about to eat with my better half, can I leave you with some info. Easy to read. Just read the first chapterBut surely not if you increase corporation tax?
Farage is so upset with The Mail calling him a Putin stooge he's bringing legal action for defamation.
He then immediately and very wisely tweeted that The Mail are "actively collaborating with the Kremlin."
Okay if you dont fancy being in bed with The Frog, and I can well understand your aversion to waking up to his unique odour of fags, stale sweat and last nights Ruddles County, how about the idea of you two are walking the same road together. For sure, the two of you came from different directions but regardless you ended up on the same carriageway travelling in the same direction.Except that is not what you are “just sayin” because you also say that I am “in bed” with Farage.
FWIW I also agree with the plans to raise the personal allowance, but I will still not be voting for him.
What is amusing is that for all of the people trumpeting the war against Russia on one thread, they are largely absent on the Gaza thread. The right to self defence as valid as it is in Ukraine, is equally valid in Gaza.
Unfortunately your beloved Labour party sees the Gaza situation differently.
I do not support Reform, but you do support Starmer and Labour, which in your language puts you cosying up in bed with the perpetrators of genocide. Spooning with Starmer for war crimes
Okay if you dont fancy being in bed with The Frog, and I can well understand your aversion to waking up to his unique odour of fags, stale sweat and last nights Ruddles County, how about the idea of you two are walking the same road together. For sure, the two of you came from different directions but regardless you ended up on the same carriageway travelling in the same direction
yes agreed , however the reporter does mention that and i cant remember why10% turnout? That doesn't seem credible. And indeed, it's not:
2019 GE
Hull North 52%
Hull East 49%
Hull West 53%
I think you might be hanging yourself with your own whatabouttery petard.No. I am walking in a much different direction
You however are a supporter of more genocide and more Farage-like neoliberalism. And as far as Ukraine goes, all the best bits are already being sold off to US multinationals, while “large scale” privatisation is underway, a direction of travel you no doubt welcome
I think you might be hanging yourself with your own whatabouttery petard.
Without recourse to Gaza, Starmer or neoliberalism - please explain how your position on the cause of the Ukraine war is different from The Frog’s as quoted from the Guardian in my earlier post.