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Broon Demolished


Stu Peters

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Lots of what he says is incorrect, we don't owe significantly more than the rest of europe and the car industry stuff is wrong.

Over debt, my understanding is that Brown always goes for the stock figure and everyone else goes for the flow figure.

 

In stock terms the UK debt isn't too bad. But the issue is the fact that over the next two or so years it is going to balloon massively. There are serious concerns that people simply will not hand over enough of the money to fund the increase (the flow) of debt.

 

The recent failure of a gilts auction adds to that worry.

 

The point about creating unproductive, pensioned government jobs as some sort of compensation for the loss of private sector jobs is in my view very accurate - and is basically what all of this debt is going to be paying for.

 

Its a fine balancing act - in order to raise the money they may have to offer interest rates on the gilts they cannot afford to pay. It is then in the politician's interests to create inflation to devalue the debt - that doesn't need to happen, all it takes is markets saying there is a reasonable probability of it occurring and that probability will devalue to pound - which will compound the problem.

 

Remember the 1970s - unionised, state workers making economically unrealistic demands creating inflation expectations and hence creating damaging spirals in the debt and currency markets.

 

Mr Hannan is making hay with Brown's misfortunes - sure he's oportunistic and has been as wrong as Brown in the past - I bet if you datamined Brown's speeches you'd find similar - but the fact is there is a lot of hay to be made from Brown's position.

 

Analogies about fixing the roof while the sun shines, and we are sailing into a squall ill prepared aren't exactly correct - but they aren't far off. So Hannan's speach has impact no matter what the Guardian and the New Statesman says!

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Margaret Thatcher once said (something like): “the trouble with Socialism is that at some point you run out of other people’s money to spend”.

 

Aint THAT the truth...

 

Feh, you falling for this bollocks? This twats just jumping on the bandwagon with some nice soundbytes. Lots of what he says is incorrect, we don't owe significantly more than the rest of europe and the car industry stuff is wrong.

 

Interestingly, the same guy was not that long ago saying we should be more like Iceland:

http://www.spectator.co.uk/print/the-magaz...d-sheikhs.thtml

 

"In the ten years that I have been travelling to Iceland, I have watched an economic miracle unfold there."

 

Yeah, he's a smart guy!

 

What Slim said.

 

Come The Real Socialist Revolution, self-serving cocks like Hannan will be the first up against the wall.

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Its a fine balancing act - in order to raise the money they may have to offer interest rates on the gilts they cannot afford to pay. It is then in the politician's interests to create inflation to devalue the debt - that doesn't need to happen, all it takes is markets saying there is a reasonable probability of it occurring and that probability will devalue to pound - which will compound the problem.

One of my major concerns is that it is becoming increasingly likely that we will end up with a tory government. The thought of that in-experienced bunch of chinless wonders trying to cope with a highly complex global financial downturn makes me break out into a cold sweat...

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Me too PK!

 

In the days (long since gone) that I believed and trusted politicians, I was a Toryboy Thatcherite (I ran my own business so it was an easy choice).

 

Nowadays I don't trust any of them. But what's the alternative to cyclical red/blue flavours of government (LDV - don't bother).

 

Yours in despair.

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What is it with the whole 'Broon' nickname thing? It's neither mocking, nor funny or politically incisive. It just seems lame.

It just rhymes better with his first name - Goon.

 

Nice.

 

S

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Been there and done it (1975) when I was in a band and had a BAD Afro, then later a Keegan.

 

Not enough to get in rollers these days Pat...

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