Do you want to discuss boring politics? (222 Viewers)

[skybluetony176]

One of the many reasons our inflation is stickier than our counterparts is our public spending and debt.

Not sure that’s remotely true. If you take the US out of the equation our public spending as a percentage of GDP is below the majority of the western world, especially Europe. Same for debt as a percentage of GDP including the US this time.

 

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[fernandopartridge]

UK has run a budget deficit for 23 consecutive years with inflation generally running at round the 2% target more the majority of those. Mucca's point is just his usual tactic of repeating myths printed by the right wing media. If deficits and debt drive inflation, why was it not the case for the preceding two decades?

 

[Mucca Mad Boys]

Not sure that’s remotely true. If you take the US out of the equation our public spending as a percentage of GDP is below the majority of the western world, especially Europe. Same for debt as a percentage of GDP including the US this time.

Spending as a % of GDP is not the same thing as debt:GDP ratio.

 

[wingy]

UK has run a budget deficit for 23 consecutive years with inflation generally running at round the 2% target more the majority of those. Mucca's point is just his usual tactic of repeating myths printed by the right wing media. If deficits and debt drive inflation, why was it not the case for the preceding two decades?

The lender's had to do a lot of creeping having squandered in the past with their greed ?
Robert Peston did the damage the last and the industry of course certainly over here anyway!IMO

 

[skybluetony176]

Spending as a % of GDP is not the same thing as debt:GDP ratio.

Which is why I mentioned debt separately and it’s the same story. Our debt as a percentage of GDP is lower than the majority of western countries including the US. Debt and spending is not what drove inflation in UK more than other countries, especially in Europe. The trade barriers we placed between our most natural and nearest trading partners had more effect, especially true of food inflation. Couple that with the energy price cap not being fit for purpose driving inflation and profits for privately owned companies ahead of all else. Then add Truss into the mix (still can’t believe she was allowed anywhere near government let alone the top seat). We were fucked over by flawed ideology. Government spending and debt had very little to zero to do with it. FP is right, the right wing press want you to believe otherwise because the truth is it’s their ideology and the political class they promote that’s to blame.

 

[Como]

Sir Keir Starmer has revealed a more than £20,000 donation he took from Labour donor Lord Alli was to help his son study for his GCSEs during the election. The revelation comes with the prime minister in New York for a UN summit, while his party's conference concludes in Liverpool.

 

[MalcSB]

Sir Keir Starmer has revealed a more than £20,000 donation he took from Labour donor Lord Alli was to help his son study for his GCSEs during the election. The revelation comes with the prime minister in New York for a UN summit, while his party's conference concludes in Liverpool.

Service to self?

 

[fernandopartridge]

Labour's case for cutting the WFP is all over the place, this is a welfare minister.

The chancellor has made decisions which need to be made to sort out the very serious problems in the government finances which we’ve been left with.

And I’m hoping that, over time, this measure will actually reduce pensioner poverty by increasing the take-up of pension credit.

We have seen quite a big boost in the number of people applying for pension credit over the last few weeks, and I think that is likely to continue.

 

[Grendel]

This is beyond belief

Keir Starmer accepted £20,000 of accommodation to help his son study for GCSEs

The prime minister said Lord Alli had provided him somewhere that his son could study ‘peacefully’

www.independent.co.uk

 

[Ian1779]

Prison isn’t working for women, Labour says, as it unveils plans for alternatives

Shabana Mahmood tells conference she wants more help in community for offenders and fewer cases going to court

www.theguardian.com

I wonder how this will be abused.

View attachment 38628

Think you have to ask permission before you download images of Tinder dates mate

 

[fernandopartridge]

This is beyond belief

Keir Starmer accepted £20,000 of accommodation to help his son study for GCSEs

The prime minister said Lord Alli had provided him somewhere that his son could study ‘peacefully’

www.independent.co.uk

Happy coincidence that the donation coincided with an emergent need for accommodation to revise for GCSEs, lovely when stuff works out

 

[Ian1779]

In isolation, no of course not. That wasn’t the point and you know full well it wasn’t.

It is clear that you don’t really see a limit to government spending so every issue be it the NHS, public sector pay rises, pensions, winter fuel allowance, education, free school meals can be done away with just more government spending.

Infinite weapons to Ukraine cost a bit more than some Cornflakes and some fuel for the pensioners.

It’s funny what’s deemed a priority.

 

[MalcSB]

This is beyond belief

Keir Starmer accepted £20,000 of accommodation to help his son study for GCSEs

The prime minister said Lord Alli had provided him somewhere that his son could study ‘peacefully’

www.independent.co.uk

He’s one of the working people, dontcha know, his father was a tool maker.

 

[Brighton Sky Blue]

He’s one of the working people, dontcha know, his father was a tool maker.

Explains how Keir was made

 

[wingy]

Explains how Keir was made

Tungsten or steel or something harder, not in the sexual sense either!

 

[wingy]

UK has run a budget deficit for 23 consecutive years with inflation generally running at round the 2% target more the majority of those. Mucca's point is just his usual tactic of repeating myths printed by the right wing media. If deficits and debt drive inflation, why was it not the case for the preceding two decades?

So thus Truss then, for a different reason though?

 

[Mucca Mad Boys]

UK has run a budget deficit for 23 consecutive years with inflation generally running at round the 2% target more the majority of those. Mucca's point is just his usual tactic of repeating myths printed by the right wing media. If deficits and debt drive inflation, why was it not the case for the preceding two decades?

Explain how public debt fuels inflation.

It’s ok to disagree but to deride anything you don’t like as ‘myths’ and ‘right wing’ is just not discussing a topic in good faith.

I’ve not said that increases in public spending will definitely always cause inflation. These things are contextual and 2010 to 2024 was characterised by a government committed to reducing a deficit that had been reduced from the state Labour had left in 2010.

Anyway, onto the question you posed. In short, government spending contributes to aggregate demand in the economy which will risk inflation. There are two examples that come to mind. 1) the government’s COVID response for businesses as well as individuals (along with debt holidays etc). The economy was overheating at time it should’ve slowed. 2) Quantative Easing, the headline inflation rate (CPI) remained quite low between 2010-2020, the increase of assets prices have been quite staggering. Specifically, in housing where the costs to buy a mouse and maintain a mortgage has increased significantly over that period too. Which is an outlier considering growth has slowed.

 

[Mucca Mad Boys]

Infinite weapons to Ukraine cost a bit more than some Cornflakes and some fuel for the pensioners.

It’s funny what’s deemed a priority.

It sounds like you’ve got some buyers remorse Ian?

 

[MalcSB]

This is beyond belief

Keir Starmer accepted £20,000 of accommodation to help his son study for GCSEs

The prime minister said Lord Alli had provided him somewhere that his son could study ‘peacefully’

www.independent.co.uk

So he moved in to the flat so that his son’s study for GCSE would not be disrupted by an unexpected election.

Lets hope he shows the same consideration to others and doesn’t introduce VAT on private education part way through an academic year causing potential catastrophic disruption for some.

Disclaimer- I did not have a private education, nor did my parents, sibling or children. This is not service to self - unlike Starmer.

 

[MalcSB]

Explains how Keir was made

Presumably if his son goes in to politics, he can claim with justification that his father was a tool.

 

[MalcSB]

Tungsten or steel or something harder, not in the sexual sense either!

Something that appears to be one thing whilst being something entirely different. Iron pyrite - fools gold - perhaps.

 

[Ian1779]

It sounds like you’ve got some buyers remorse Ian?

Not if you’ve been paying attention.

 

[COVKIDSNEVERQUIT]

Well, the winter fuel allowance will change things for many pensioners. Let’s hope for a warm winter.

Some Say Keir Starmer Doesn't Have a Plan.

As Baldrick Says in Blackadder, "I Have a Cunning Plan" Let the Pensioner's Freeze to Death so the Government Can Save Money on the State Pension.

 

[shmmeee]

In isolation, no of course not. That wasn’t the point and you know full well it wasn’t.

It is clear that you don’t really see a limit to government spending so every issue be it the NHS, public sector pay rises, pensions, winter fuel allowance, education, free school meals can be done away with just more government spending.

Some of that stuff costs more to cut than not. Our problem is not looking productive in the future thanks to this kind of thinking more than too much debt meaning we won’t be able to borrow.

It’s ok to disagree but to deride anything you don’t like as ‘myths’ and ‘right wing’ is just not discussing a topic in good faith.

I’ve not said that increases in public spending will definitely always cause inflation. These things are contextual and 2010 to 2024 was characterised by a government committed to reducing a deficit that had been reduced from the state Labour had left in 2010.

Anyway, onto the question you posed. In short, government spending contributes to aggregate demand in the economy which will risk inflation. There are two examples that come to mind. 1) the government’s COVID response for businesses as well as individuals (along with debt holidays etc). The economy was overheating at time it should’ve slowed. 2) Quantative Easing, the headline inflation rate (CPI) remained quite low between 2010-2020, the increase of assets prices have been quite staggering. Specifically, in housing where the costs to buy a mouse and maintain a mortgage has increased significantly over that period too. Which is an outlier considering growth has slowed.

Covid inflation was supply chain and energy based, house price inflation is down to supply restriction.

You haven’t answered his basic question which is why if this is such a cast iron law of economics we don’t see it in the data at all.

 

[shmmeee]

Such inflation 2010-2020, much asset appreciation.

 

[fernandopartridge]

It’s ok to disagree but to deride anything you don’t like as ‘myths’ and ‘right wing’ is just not discussing a topic in good faith.

I’ve not said that increases in public spending will definitely always cause inflation. These things are contextual and 2010 to 2024 was characterised by a government committed to reducing a deficit that had been reduced from the state Labour had left in 2010.

Anyway, onto the question you posed. In short, government spending contributes to aggregate demand in the economy which will risk inflation. There are two examples that come to mind. 1) the government’s COVID response for businesses as well as individuals (along with debt holidays etc). The economy was overheating at time it should’ve slowed. 2) Quantative Easing, the headline inflation rate (CPI) remained quite low between 2010-2020, the increase of assets prices have been quite staggering. Specifically, in housing where the costs to buy a mouse and maintain a mortgage has increased significantly over that period too. Which is an outlier considering growth has slowed.

1. The government debt was not increased by the covid spending 99.5% of government Covid debt has been matched by so called Bank of England ‘money printing’

2. The increase in house prices from 2010-2020 was slower than the a lot of the prior 20 years, before QE was even a thing.

 

[MalcSB]

Some Say Keir Starmer Doesn't Have a Plan.

As Baldrick Says in Blackadder, "I Have a Cunning Plan" Let the Pensioner's Freeze to Death so the Government Can Save Money on the State Pension.

As @fernandopartridge suggested, there will be some beds blocked in the NHS over winter.

 

[Mucca Mad Boys]

Not if you’ve been paying attention.

I’ll be honest, I haven’t been paying close attention to your mood on the new government.

Some of that stuff costs more to cut than not. Our problem is not looking productive in the future thanks to this kind of thinking more than too much debt meaning we won’t be able to borrow.



Covid inflation was supply chain and energy based, house price inflation is down to supply restriction.

You haven’t answered his basic question which is why if this is such a cast iron law of economics we don’t see it in the data at all.

There is no cast iron economic laws because if there was there’d be no need for politics. Keynesians believe that increasing aggregate demand won’t cause inflation, monetarists believe the exact opposite in the long run.

My only point, starting off, was the increased public spending contributed (i.e. one of many factors) to our stickier inflation.

 

[shmmeee]

I’ll be honest, I haven’t been paying close attention to your mood on the new government.

There is no cast iron economic laws because if there was there’d be no need for politics. Keynesians believe that increasing aggregate demand won’t cause inflation, monetarists believe the exact opposite in the long run.

My only point, starting off, was the increased public spending contributed (i.e. one of many factors) to our stickier inflation.

There is such a thing as truth and there is none in the idea advanced economies suffer inflation from govt debt. See: High debt levels can hinder the fight against inflation.

 

[Brighton Sky Blue]

Interesting to see James O’Brien performing mental gymnastics to justify all the private donations to Labour politicians. Why is it so hard to call a spade a spade?

 

[shmmeee]

Interesting to see James O’Brien performing mental gymnastics to justify all the private donations to Labour politicians. Why is it so hard to call a spade a spade?

It’s bollocks if we’re honest.

The YouTube donation and change to the DST, genuinely concerning. £4m from hedge fund, less concerning but still likely to be influencing policy.

Instead people are going after a guy lending money to his sisters best mate and offering out his flat to a 16 year old.

It’s so very obviously party political because they’re staying away from the actual issues of money in politics and pretending having a rich mate is the problem. And that’s because if they actually went after large cash donations the Tories would be fucked.

No. People don’t want taxpayer funded political parties. They don’t want people to play by the rules. It’s just kicking Labour cos it’s Labour.

There: a spade.

 

[Brighton Sky Blue]

It’s bollocks if we’re honest.

The YouTube donation and change to the DST, genuinely concerning. £4m from hedge fund, less concerning but still likely to be influencing policy.

Instead people are going after a guy lending money to his sisters best mate and offering out his flat to a 16 year old.

It’s so very obviously party political because they’re staying away from the actual issues of money in politics and pretending having a rich mate is the problem. And that’s because if they actually went after large cash donations the Tories would be fucked.

No. People don’t want taxpayer funded political parties. They don’t want people to play by the rules. It’s just kicking Labour cos it’s Labour.

There: a spade.

The forum’s answer to Wes Streeting

 

[fernandopartridge]

Interesting to see James O’Brien performing mental gymnastics to justify all the private donations to Labour politicians. Why is it so hard to call a spade a spade?

Because he's a wanker.

 

[Sbarcher]

Keir Starmer Covid broadcast urging work from home came from donor’s £18m penthouse

Labour leader appeared to be speaking from his own house but was instead in Lord Alli’s flat

www.telegraph.co.uk

This may be behind a paywall.
Has Starmer requesting people stay/work from home if possible when he's in Lord Ali's apartment done up with his family photos and cards to appear he is at his home. Bit of a con really.

 

[shmmeee]

The forum’s answer to Wes Streeting

Ah yes Wea Streeting who says “why aren’t you looking at policy that changed rather than hassling a GCSE student?”

You’ve been on autopilot since Corbyn lost. Sad to see.