For the economists amongst us…

Is Liz or Rishi right? As they say, put two economists in a room and you’ll get three opinions, but the following isn’t reassuring, is it? Would you bet your finacial wellbeing on Lizonomics?

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Does Liz Truss have any idea ? I mean, any ?

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No, I don’t think so. But she parrots the BS she’s been fed very well and she’s top class in not answering the question asked…

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Is she an economist? I’m not, but I would be interested to know about inflation and debt during 1939-1945.
I have said this before somewhere, but I only realised that Britain had at last paid off its debt to the USA when the final payment was anounced in around 2005 or so.

So, extreme borrowing to fight a war that we may never have been involved in, and I for one never noticed the hardship of it in all those 60 years.
It seems to me that to fight a war against covid and to support an invaded country (not to fight in ) with all the financial pain that goes with that, I’ll take borrowing over taxing people with little money any day.

Legacy for the kids does not come into it, I wasn’t even born when Britain declared war on Germany, but the debt caused by that decision lasted from my birth right through to past my retirement. I’m not complaining.

Is LT not just BJ in female form?

BJ is a liar but he’s not stupid. Truss will also say whatever she thinks people want to hear, but she is stupid.

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Of course neither candidate will ever mention the truth of the matter which is that if folks want NHS waiting lists reduced, and Social Care improved, then someone somewhere has to pay for it.
Let’s face it, the only real concern that they have is the well being of The Party, and winning the next General Election.

And you think Labour’s manifesto will be full of tax hikes for the masses?

I don’t debate politics/economics at all, but received this from a mate in London. How true is it?

“Hilarious but true too, Sanjay Thakrar, CEO of Euro Exim Bank Ltd, got economists thinking when he said:

A cyclist is a disaster for the country’s economy – He does not buy the car & does not take the car loan – Does not buy car insurance – Does not buy Fuel – Does not send his car for servicing & repairs – Does not use paid parking – Does not become Obese – Yes, and well, damn it!! Healthy people are not needed for the economy. They do not buy drugs – They do not go to Doctors or Hospitals – They add nothing to the country’s GDP. On the contrary, every new McDonald outlet creates at least 30 jobs – 10 cardiologists, 10 Dentists, 10 weight loss experts, apart from people working in McDonald outlets. Choose wisely: A Cyclist or a McDonald? Worth thinking.”

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No, of course not. As I said, it’s all about the well being of The Party and winning the next General Election. The welfare and prosperity of the general public is the last thing that concerns politicians. So the politicians (of whatever party) all do the same thing in that they promise the earth and avoid the truth like the plague.

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Your mate is clearly a banker Bonzocat

He’s an astute retired quantity surveyor…with an eye for offbeat news…

Well that statement completely forgets about productivity and social benefits produced by a healthy cyclist and only seems to be concerned big pharma and whoever else the bankers make money out of advising and doing transactions for might not be earning off the backs of the population :slight_smile:

I’ll let him know…!

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This is the stupidity of measuring economic well-being by GDP.
If I go out and buy a trolleyfull of food at the supermarket and throw it all away, then go out and buy some more, I add more to GDP than if I had actually eaten it.
If I sit in a traffic jam for 2 hours I add more to GDP than if I cycle straight home and play with my kids before bed.
If I set fire to a forest I add more to GDP than if I just walk peacefully through it…
GDP and ‘economic growth’ are, truly, nonsense.

These are the words of Robert Kennedy in 1968:

Gross National Product counts air pollution and cigarette advertising, and ambulances to clear our highways of carnage.

It counts special locks for our doors and the jails for the people who break them. It counts the destruction of the redwood and the loss of our natural wonder in chaotic sprawl.

It counts napalm and counts nuclear warheads and armored cars for the police to fight the riots in our cities. It counts Whitman’s rifle and Speck’s knife, and the television programs which glorify violence in order to sell toys to our children.

Yet the gross national product does not allow for the health of our children, the quality of their education or the joy of their play. It does not include the beauty of our poetry or the strength of our marriages, the intelligence of our public debate or the integrity of our public officials.

It measures neither our wit nor our courage, neither our wisdom nor our learning, neither our compassion nor our devotion to our country, it measures everything in short, except that which makes life worthwhile.


Another mate from London sent me this….lots of facts and figures, updates, about cost of living in the UK……

I struggle to comprehend how anyone who isn’t a millionaire with non-dom status affords to live in London these days AND go out on the town on a regular basis.

There are the ‘haves’ and ‘have nots’ with the second category growing rapidly, I’m left scratching my head when the daily news bulletins are split between the cost of living crisis and packed airports/ports. What will catch millions out soon is when their fixed rate mortgage deals end and the monthly payments double, add in the energy price cap hike in the Autumn and the winter is going to be tough for many.

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Finance is not my thing but at the most basic level it does seem that increasing interest rates and cutting taxes is going to benefit those who have a lot of money invested and currently pay high taxes, ie the richer end of society. And the ones hit hardest will be the ones with no investments, significant borrowing and low incomes paying little tax.

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