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Ed Miliband

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As a counter to the metrosexual Guardiaistas lies about the 'bedroom tax' and 'millionaires tax cut'

 

As opposed to calling the national insurance contribution a "jobs tax?"

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Come on folks, there are too many thin skins on show.

 

It's a message board not the Nuremburg Trials.

 

We've already lost a few of our more lively contributors; let's not lose any more.

 

If you give it out, you can't moan when you get some back.

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I would love to know how you earn a living as a "marxist intellectual"?

That is after all the profession of his father, the same father that fled Nazi Germany with the other male members of his family, LEAVING the women behind to their horrendous fate!!! And people want someone like that leading the country? And before someone says it wasn't him, Breeding!!!!!

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Come on folks, there are too many thin skins on show.

 

It's a message board not the Nuremburg Trials.

 

We've already lost a few of our more lively contributors; let's not lose any more.

 

If you give it out, you can't moan when you get some back.

This from the poster who wept on the main board that someone might use nasty words to describe his views.

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Come on folks, there are too many thin skins on show.

 

It's a message board not the Nuremburg Trials.

 

We've already lost a few of our more lively contributors; let's not lose any more.

 

If you give it out, you can't moan when you get some back.

This from the poster who wept on the main board that someone might use nasty words to describe his views.

Remind me.

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That's flaws in their argument, not about belittling a person or group of people.

Such as Gideon, 'Call Me Dave' (he always calls himself David) or the witch some on here were keen to burn recently?

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On the original subject, people have short memories so the prospect of Ed Balls suddenly going on a spending spree of borrowed money might seem like a good idea to those who dont understand basic housekeeping

Others will remember at teh last minute

Unless the UKIP factor sustains expect a Labour win but not majority and the subsequent spectre of a Milliband/Alexander coalition

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Such as Gideon, 'Call Me Dave' (he always calls himself David) or the witch some on here were keen to burn recently?

 

Yep, although in Osbourne's case that is his name.

Edited by Severus

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On the original subject, people have short memories so the prospect of Ed Balls suddenly going on a spending spree of borrowed money might seem like a good idea to those who dont understand basic housekeeping

Then again, running an economy like a household budget might seem like a good idea to those who don't understand basic economics.

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That is after all the profession of his father, the same father that fled Nazi Germany with the other male members of his family, LEAVING the women behind to their horrendous fate!!! And people want someone like that leading the country? And before someone says it wasn't him, Breeding!!!!!

You're seriously trying to criticise Ed Miliband for decisions taken by his grandfather, thirty years before he was born, in a desperate situation of unimaginable distress and terror?

Seriously?

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You're seriously trying to criticise Ed Miliband for decisions taken by his grandfather, thirty years before he was born, in a desperate situation of unimaginable distress and terror?

Seriously?

 

You forgot about Breeding!!!

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You're seriously trying to criticise Ed Miliband for decisions taken by his grandfather, thirty years before he was born, in a desperate situation of unimaginable distress and terror?

Seriously?

 

One thing that perhaps could be levied against Ed Miliband's ambition is that, following his gaining the leadership, and after being with his partner for over ten years,  he seemed to get married to get a better image.

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Then again, running an economy like a household budget might seem like a good idea to those who don't understand basic economics.

It certainly didnt occurr to Gordon Brown that it might become a problem when if you spend more than you earn you have to borrow the difference. One day that difference will become too big to manage

It doesnt seem to have been understood by Milliband or Balls either, given their pronouncement the other week

Maybe Ed could ask a Spaniard, Italian, Irishman, Icelander, Portuguese, Cypriot or Greek, or maybe he could follow the long Labour tradition of spending borrowed money till they get found out

Its a mark of teh uselessness of the Conservative press office that they havnt been able to communicate that message

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It certainly didnt occurr to Gordon Brown that it might become a problem when if you spend more than you earn you have to borrow the difference. One day that difference will become too big to manage

It doesnt seem to have been understood by Milliband or Balls either, given their pronouncement the other week

It seems to have been understood by them far better than by many of the current governments of the world who have largely based their economic policy on a spreadsheet error.

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It certainly didnt occurr to Gordon Brown that it might become a problem when if you spend more than you earn you have to borrow the difference. One day that difference will become too big to manage

It doesnt seem to have been understood by Milliband or Balls either, given their pronouncement the other week

Maybe Ed could ask a Spaniard, Italian, Irishman, Icelander, Portuguese, Cypriot or Greek, or maybe he could follow the long Labour tradition of spending borrowed money till they get found out

Its a mark of teh uselessness of the Conservative press office that they havnt been able to communicate that message

 

The error they made was that they continues to borrow and spend when times were good. Keynesian economic theory is that the only way to end the downward spiral in a depressed economy is to reduce interest rates and increase government investment in infrastructure. Gideon is slowly coming to this view, but IMO, it is too little too late. I suppose the really tricky bit is how to gauge success and therefore when to reapply the breaks to the borrowing without causing the economy (assuming it has picked up) to begin to go backwards again.

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One thing that perhaps could be levied against Ed Miliband's ambition is that, following his gaining the leadership, and after being with his partner for over ten years,  he seemed to get married to get a better image.

 

I'm getting married to my partner of 15 years, am I doing it for a better image?

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I'm getting married to my partner of 15 years, am I doing it for a better image?

Are you leader of the Labour Party?

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It seems to have been understood by them far better than by many of the current governments of the world who have largely based their economic policy on a spreadsheet error.

 

Steve, you must have been expecting someone to ask you to explain this statement.

 

So I'll take the bait.

 

Please explain!

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Steve, you must have been expecting someone to ask you to explain this statement.

 

So I'll take the bait.

 

Please explain!

It was announced a couple of weeks ago that 2 Harvard economists had made an error in an Excel spreadsheet model which skewed the outcome badly. The spreadsheet had formed the basis of the key economic paper that many governments had used to set their economic policy since 2010 including the US Treasury.

http://www.reuters.com/article/2013/04/18/us-global-economy-debt-herndon-idUSBRE93H0CV20130418

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Steve, you must have been expecting someone to ask you to explain this statement.

 

So I'll take the bait.

 

Please explain!

Actually, I wasn't fishing there at all! I kind of assumed that anyone who would be interested in this story would have heard it.

The link provided by Derwent explains it all.

Perhaps the most significant contribution to our understanding of the origins of the crisis has been made by professor Ken Rogoff, former chief economist at the IMF, and his co-author, Carmen Reinhart. The latest research suggests that once debt reaches more than about 90% of GDP, the risks of a large negative impact on long-term growth become highly significant.

And it turned out that "the latest research" was completely wrong. It turns out that a duff spreadsheet is the intellectual underpinning of much of the economic policy of the developed world.

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It seems to have been understood by them far better than by many of the current governments of the world who have largely based their economic policy on a spreadsheet error.

Oh yeah because there only are about four economic papers written so each one is of enormous importance.....

 

That's a very skewed summary based no doubt on reading a very sloppy piece of journalism and no understanding of the underlying concepts.

 

The truth of the matter is that debts have to be paid back at some point - unless you want to go bust. This is as basic as saying that the world isn't flat.

 

Debts spiral because you have to pay interest on them and that interest rate is almost always higher than inflation. Nothing earth shattering there.

 

Therefore what you don't pay today, will be paid tomorrow with interest.

 

You don't need to study economics to see the logic of trying to stop debts escalating. This was the understanding that most people had before anyone invented Excel.

 

The only embarrassing detail is that the fear of future debt repayments doesn't cause GDP to shrink nearly as much as previously thought. It still does shrink though.

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Actually, I wasn't fishing there at all! I kind of assumed that anyone who would be interested in this story would have heard it.

The link provided by Derwent explains it all.And it turned out that "the latest research" was completely wrong. It turns out that a duff spreadsheet is the intellectual underpinning of much of the economic policy of the developed world.

Only in the minds of those who studied history at university.

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Are you leader of the Labour Party?

 

I don't believe they've ever been seen in the same room at the same time.

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Actually, I wasn't fishing there at all! I kind of assumed that anyone who would be interested in this story would have heard it.

The link provided by Derwent explains it all.And it turned out that "the latest research" was completely wrong. It turns out that a duff spreadsheet is the intellectual underpinning of much of the economic policy of the developed world.

 

So we have economists who can't do maths? No wonder we're in the manure!

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So we have economists who can't do maths? No wonder we're in the manure!

I think the bigger problem is that politicians and political activists latch onto economic theories that seem to validate their political ideology without really understanding the theories or the debate surrounding them. Hence we have the re-interpretation of the great liberal capitalist Keynes as the guru of socialist state driven economics which is an aberration in itself before contemplating the changes in the world economy since the 1930s.

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