Brexit supporter then
Labour Conference
- Thread starter Roy Bloom
- Start date
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Why are you so desperate to deflect from Tory failure
£45 BILLION of tax cuts, funded by borrowing meant "the markets" lost confidence in the government to run the economy responsibly.
Nowt to do with the ECB
£45 BILLION of tax cuts, funded by borrowing meant "the markets"lost confidence in the government to run the economy responsibly.realised Truss was stark, staring, mad-behind-the-eyes. And heading up a bunch of lackwit trough-snufflers, who were so utterly useless and clueless that she was seen as the best of 'em.
Nowt to do with the ECB
My bad: corrected now.
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Like your style.
Nowt to do with agreeing with any sentiments expressed. Just your style.
Labour is promising tax cuts, increased spending and more borrowing. Exactly what Truss and co did, which was what spooked the markets.£45 BILLION of tax cuts, funded by borrowing meant "the markets" lost confidence in the government to run the economy responsibly.
Nowt to do with the ECB
They've now said enough to ensure that the bond markets will explode the moment they get elected. Further borrowing will instantly become massively more expensive. As we're currently borrowing just to pay the interest on the old debt, that means that basically the UK will be bankrupt.
Their choices will be between massive tax rises or not doing three quarters of what they've promised. We'll be instantly back to the old days, it's either tax and spend OR lower tax and cuts. No more borrow and spend, as pioneered by Blair/Brown and carried on by the tories ever since.
It's all a trap that the tories are setting for them. They're aiming to drop them in it just before it explodes so everyone will blame them, just as the muppets blamed Truss, when she just exposed the massively unsustainable path we've been on for the last 20 years (under both colours of the same political gang). I'm expecting Sunak to pretty much drop his pants and curl out a turd on live TV if necessary, just to ensure that they aren't in charge while the country inevitably explodes.
The public are going to be massively disappointed with what Labour actually achieves, so will vote the blue mob back in again, exactly as planned.
I'll vote for absolutely anyone other than the red or blue branded divisions of the same party.
Not even close, let alone "exactly".
Borrowing to build or renew infrastructure is sensible; inflation makes the debt shrink.
Borrowing to give tax cuts to your rich mates and benefactors, selling it as "it'll trickle down to you plebs", isn't.
It doesn't matter what it's for, it's all additional borrowing. We're not a good credit risk any more due to our massive debts, we need to be repaying debts, not borrowing more and definitely not increasing the additional amount we're borrowing.
I don't think most understand that governments can't just perpetually borrow more and more, it all will end very badly. Labour's announcements mean that this moment will probably be when they get elected.
Some of us aren't part of the red vs blue points scoring and can see through it all. It's all nonsense.
I don't think most understand that governments can't just perpetually borrow more and more, it all will end very badly. Labour's announcements mean that this moment will probably be when they get elected.
Some of us aren't part of the red vs blue points scoring and can see through it all. It's all nonsense.
Of course it matters what it is for.
Yes, I know the following is micro- and not macro-economics, but the principle stands:
If I borrow £5k to have my roof fixed, that's sensible.
If I borrow £5k to go on a coke-fuelled brothel bender, that's not sensible.
The flip floppers.
www.theguardian.com
www.theguardian.com
Labour promises to spend £28bn a year on tackling climate crisis
Rachel Reeves aims to be ‘first green chancellor’ as she announces party’s biggest spending pledge to date
www.theguardian.com
Labour postpones £28bn green plan as it seeks to be trusted on public finances
Rachel Reeves says fiscal rule is priority as she delays start of promised investment in eco-friendly industry
www.theguardian.com
It doesn't matter, if you go to the bank tomorrow to borrow £5k then they may ask what it's for but they really don't care.
They only look at how much debt you already have, your income and your stability, then decide how much they want to charge you to cover their risk. It's entirely about money, nobody cares about fairness or whether you're helping everyone. If you're already up to your eyeballs in debt and withdrawing cash from your credit card to pay the mortgage then their answer will be either "lots of interest" or "go away".
That's where the UK is. The levels of debt and current borrowing are utterly unsustainable. The additional borrowing proposed by Truss was almost negligible in comparison to the existing deficit, but was the straw that broke the back of the markets. We're right on the edge of the cliff, Starmer getting into power will have exactly the same effect.
They only look at how much debt you already have, your income and your stability, then decide how much they want to charge you to cover their risk. It's entirely about money, nobody cares about fairness or whether you're helping everyone. If you're already up to your eyeballs in debt and withdrawing cash from your credit card to pay the mortgage then their answer will be either "lots of interest" or "go away".
That's where the UK is. The levels of debt and current borrowing are utterly unsustainable. The additional borrowing proposed by Truss was almost negligible in comparison to the existing deficit, but was the straw that broke the back of the markets. We're right on the edge of the cliff, Starmer getting into power will have exactly the same effect.
Rubbish.
But he's saying you can go on that coke filled brothel bender.
The usual high standards of debate from the Labour fanatics then.
Yes, you can go to the bank, ask for a loan to fix the roof then blow it on hookers and coke. This sort of thing can and does happen, that's why they don't care what your excuse is, all they really care about is your ability to pay them back and how much they'll charge to cover the risk of you defaulting. The same applies to countries wanting to borrow even more money on top of the last lot that we blew on crap.
I'm guessing that the Labour fans are fairly young. This is normal, they promise impossible dreams and, when enough people are of voting age who are too young to remember the last time they had a stab at running the country, they get voted in. Then these young voters get to understand reality, realise that it's all lies and unachievable so don't vote them back in. Then the next load of gullible youngsters comes along, repeat indefinitely.
Last time they had a go was their war crimes episode, the time before that was mass strikes and shutdowns. It looks like the next time will be national bankruptcy, ironically mostly created by the tories but Labour will get the blame, basically a cross-party blame-shifting Truss effect.
Yes, you can go to the bank, ask for a loan to fix the roof then blow it on hookers and coke. This sort of thing can and does happen, that's why they don't care what your excuse is, all they really care about is your ability to pay them back and how much they'll charge to cover the risk of you defaulting. The same applies to countries wanting to borrow even more money on top of the last lot that we blew on crap.
I'm guessing that the Labour fans are fairly young. This is normal, they promise impossible dreams and, when enough people are of voting age who are too young to remember the last time they had a stab at running the country, they get voted in. Then these young voters get to understand reality, realise that it's all lies and unachievable so don't vote them back in. Then the next load of gullible youngsters comes along, repeat indefinitely.
Last time they had a go was their war crimes episode, the time before that was mass strikes and shutdowns. It looks like the next time will be national bankruptcy, ironically mostly created by the tories but Labour will get the blame, basically a cross-party blame-shifting Truss effect.
Looks like the tories want labour to take the flak for all the green cr*p that's coming our way.
Not good on the tories cv with them supposedly being the party of very little state interference.
Not good on the tories cv with them supposedly being the party of very little state interference.
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