Corbynomics: A Dystopia

BobQ

bobbymotors wrote: »

Yes, the tories are far from perfect.

Yet in your post I see no solution from you?

You think I wish to solve the Tory Party's problem?

I have a simple view: to be elected they need to convince enough working people they are on their side. The Galbraith quote is still valid today in my view. Tory politicians want to care about the disadvantaged but its not their first inclination.

bobbymotors

Thrugelmir wrote: »

Good financial management requires no knowledge of economics. Something that the Labour party have been lacking for some years. Allowing a financial journalist to become Chancellor was a grave mistake.

Yep.

Every single labour government since 1964 has left us in a financial mess, and worse than before they came to power.

You can't borrow your way out of trouble.

there are only two things that work, in combination.

spend less
earn more

there's no other way.

BobQ

bobbymotors wrote: »

If, as a country, we have £x billion coming in in revenue and we spend £x billion plus another £25 billion on top, we will, at some point, run out of money. It really is that simple. It applies to you, to me, to everyone, if you spend more than you've got coming in, there are only two things you can do that will work.

1. cut what you spend
2. increase what you have coming in

that's the ONLY solution that can ever possibly work

So what's your solution?

And SOLUTION please not insults or raving about the tories.

The economy of a nation is not like that of a household budget.

System

Thrugelmir wrote: »

Good financial management requires no knowledge of economics. Something that the Labour party have been lacking for some years. Allowing a financial journalist to become Chancellor was a grave mistake.

What made Osborne or Hammond (apart from wearing blue pants) any better qualified?

It's a political appointment so to qualify you need to be a good politician and not much else.

bobbymotors

BobQ wrote: »

You think I wish to solve the Tory Party's problem?

I have a simple view: to be elected they need to convince enough working people they are on their side. The Galbraith quote is still valid today in my view. Tory politicians want to care about the disadvantaged but its not the first inclination.

No of course I don't think that. Except its not the tory party's problem, it's the country's problem.

They are, somewhat sadly, the best we've got.

bobbymotors

BobQ wrote: »

The economy of a nation is not like that of a household budget.

Oh yes it is. It's EXACTLY like that.

I'm not saying you are loony left or anything, please understand that, but the left simply don't get that you have, as a person / entity / business/ country, to spend less than you have coming in in revenue.

America has been running a deficit for decades: and it will cost them dearly, at some point they'll need to balance the books. We all will.

System

bobbymotors wrote: »

You can't borrow your way out of trouble.

All of that debt paid down by the Tories is going to stand us in good stead at the next 'trouble'.

I feel so lucky they turn up after every labour government and sort things out.

System

bobbymotors wrote: »

America has been running a deficit for decades: and it will cost them dearly, at some point they'll need to balance the books. We all will.

Their debt is $ denominated. If they owe someone $1tn and the debt is called in they just send a cheque for $1tn and that's that.

Quite different when you owe money in a currency you don't control i.e. like a household

bobbymotors

ilovehouses wrote: »

All of that debt paid down by the Tories is going to stand us in good stead at the next 'trouble'.

I feel so lucky they turn up after every labour government and sort things out.

Hmmm....except that although it's going down they are still borrowing. The only consolation is that it's a fraction of what Labour would be borrowing.

bobbymotors

ilovehouses wrote: »

Their debt is $ denominated. If they owe someone $1tn and the debt is called in they just send a cheque for $1tn and that's that.

Quite different when you owe money in a currency you don't control i.e. like a household

No I don't think it works like that to be honest! That's the magic money tree.

The $1tn has to come from somewhere.

they will HAVE to run a surplus eventually.