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Osborne: UK has run out of money


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I was under the impression that the world including the UK as being trying to stave off global recession for the past ten years since the dot com bust, borrowing money to stimulate the economies of the world only worked whilst there was money to borrow, and it doesn’t stop a recession it just postpones it and makes it worse when it happens.

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Jim Graham is right, FOrd is wrong, Mecky is daft.

 

 

F0rd knows I am right but can't admit it so resorts to hair splitting and semantics. He can spot a terminological inexactitude at 200 paces but can't see Socialist bullplop right under his nose.

 

Have you been away?

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F0rd knows I am right but can't admit it so resorts to hair splitting and semantics.[/Quote]

This should be fun, show me once where in this I have argued semantics...

 

Please quote me...

 

He can spot a terminological inexactitude at 200 paces but can't see Socialist bullplop right under his nose.[/Quote]

 

Apart from the fact I havnt called you out on your terminology, just your sheer fundamental lack of knowledge of Keynes.

 

Again, would you like to show me where I have argued on terms of semnatics.

 

But seriously, if you are going to post this I hope you accept the concequence that you will infact have to clearly justify and defend it. So ,where have I done what you said above? I have a feeling that you wont be able to, mainly because I havn't, and if you refuse to or generally fail to show where I have, it is safe to assume that you can't, ergo what you have posted is bunk.

 

Laymans terms: You posted this crap so either defend it or run away with your tail between your legs.

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This should be fun, show me once where in this I have argued semantics...

 

Please quote me...

 

 

 

Apart from the fact I havnt called you out on your terminology, just your sheer fundamental lack of knowledge of Keynes.

 

Again, would you like to show me where I have argued on terms of semnatics.

 

But seriously, if you are going to post this I hope you accept the concequence that you will infact have to clearly justify and defend it. So ,where have I done what you said above? I have a feeling that you wont be able to, mainly because I havn't, and if you refuse to or generally fail to show where I have, it is safe to assume that you can't, ergo what you have posted is bunk.

 

Laymans terms: You posted this crap so either defend it or run away with your tail between your legs.

 

Jim posting poorly thought through, chip on both shoulders, reactionary, ranting nonsense with no evidence whatsoever to back it up? Never!

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This should be fun, show me once where in this I have argued semantics...

 

Please quote me...

 

 

 

Apart from the fact I havnt called you out on your terminology, just your sheer fundamental lack of knowledge of Keynes.

 

Again, would you like to show me where I have argued on terms of semnatics.

 

But seriously, if you are going to post this I hope you accept the concequence that you will infact have to clearly justify and defend it. So ,where have I done what you said above? I have a feeling that you wont be able to, mainly because I havn't, and if you refuse to or generally fail to show where I have, it is safe to assume that you can't, ergo what you have posted is bunk.

 

Laymans terms: You posted this crap so either defend it or run away with your tail between your legs.

 

 

Huff and puff all you like. Nobody is supporting your pedantry. We all bow down before your superior knowledge on a highly technical subject. Obviously we are simply not worthy to receive your wisdom and pass comment in your presence.

 

The banks were bailed out for good reason. It's hair splitting whether it was once or twice. It was twice in the case of Lloyds because they were not honest the first time. It had to be done. The government owns shares in the banks and they will be sold off and some money will come back. Fact.

 

Lending money to Ireland was good business given our history. It's irrelevant how much comes back but it's unlikely we'll lose money. It was a good political move and cheap at twice the price. Your opinion of the deal is not keeping George Osborne up at night.

 

The bank bailouts were a one off (if in instalments) but public services require us to borrow £4bn a week to bail them out. That can't go on forever. Fact.

 

Perhaps you can explain to us mere mortals what Keynes had to say on the subject of how much a government can borrow in the bad times. As I understand it Keynes promotes fiscal deficit during hard times, to stimulate the economy, but not a structural deficit. Borrowing £4bn a week just to pay pensions and benefits is a structural deficit.

 

We await with baited breath the pearls of wisdom which may fall from your keyboard onto the unworthy mortals of the parish.

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