Archive for the ‘Politics’ Category

Crowding Out

July 3, 2010

Its been a long time since I’ve blogged. I’m going to aim to start at least writing something once a day even if it is nonsensical crap…not that anyone is reading this in the first place.

I was watching This Week on Thursday and Michael Portillo mentioned crowding out ( This is when an increase in public spending, reduces private investment/consumption – effectively public spending is ‘crowding out’ private spending ) as a valid reason for reducing the huge budget deficit that the UK currently has. Now I’m no expert ( apart from the bachelors degree in economics that I hold ), but to me this is an absolutely absurd argument. I do believe that crowding out is a legitimate reason for reducing public spending, but only when the economy is at full capacity, and the UK is currently nowhere near this. If you look at these figures from the office of national statistics, we have an unemployment rate of 7.9% and a growth rate in the first quarter of just 0.3%. The current government hopes that by reducing public spending private investment will rush in and fill the void….but why would they? The future of the economy is still unclear and we still have huge debts to pay off, more likely they will hoard cash to pay of those debts rather then invest.

The government also hopes that Britain’s exports will carry us through…in a future blog I’ll explain why this makes no sense too!

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Obama Read Comics When He Was A Child!

October 26, 2008

OK, I know that this probably isn’t such a big deal and I’m sure that there are plenty of politicians ( presidents, vice-president…etc, etc ) both past and present who have read comics when they were children…but this Observer article makes me relate to him just a little bit, as opposed to never as far as most other politicians are concerned:

Grandpa bought me all the DC Comic books, and I was the only one who had them, so Barry [i.e. Barack Obama] and Yanto would borrow the books and copy pictures of Batman and Spider-Man out and ask me to judge which was better. Barry was always better than Yanto. Even Yanto always agreed with that. Barry had a great eye.

The Financial Crisis – The Plan

October 10, 2008

As an armchair economist ( I have a degree in the subject so its actually a rather luxurious armchair ). I have to agree with Krugman. Out of all the major western governments the only decent plan to solve this problem has come from us Brits in the form of Gordon Brown and Alistar Darlings proposal. It’s by no means perfect but it is solid and a lot more thought out then Paulson’s ‘shit we’re in trouble I’ve got an idea, give the financial industry $700 billion dollars and then leave them alone to get on with it’ Plan. Now all they have to do is persuade all the other economies to do something similar this weekend…good luck.

Jimmy Carter Man from the Plains

August 17, 2008

Impressive documentary, primarily covering the tour to promote his book “Palestine Peace not Aparteid”. Carter’s time in office wasmuch criticisied ( mostly by the incoming Republicans ) but I was really impressed by his post Presidential Record, as seen in this documentary.

Cash for Honours

March 6, 2007

Man whats going on with this. It just reinforces my opinion that new labour (specifically of the ‘Blair’ variety) cares more about winning around those with money then the electorate.

Reminds me of a joke i heard:

A Labour fundraiser rings up a highflying city figure who has just recieved a huge bonus,
“As you are aware New Labour is currently in need of some funds would you be willing…” he asks.
“Sorry to cut you off there old chap”, interrupts the high-flyer, “but clearly you are not aware that mother has just gone into an expensive home for people with Alzheimer’s; my brother has lost an eye in Iraq, for which the treatment is going to be very expensive; my younger sister’s admission to a hospital for schizophrenics will cost the family a fortune;and my dear father has seen his pension dwindle away to almost nothing.”

“Oh, I’m terribly sorry, we had no idea.” Replies the labour man.

“Thats quite alright dear chap, but you have to understand,” responded the high-flyer, “that I’m not giving a penny to my family, so what makes you think I’m going to come to the rescue of you Lefties?”