Reply to: Recession here we come...but taxes keep going up!

[DimPrawn]

Well we're really in the tulipe now.

The theory is, in all likelihood, that Gordon Brown and Labour will lose the election. Hence he really doesn't care any more what the public think, and he will proceed to do whatever he likes and raise whichever taxes he sees fit. He is also somewhat unconcerned by the burgeoning national debt, which now stands at an all time record of some 40% of GDP. He's forcing the country into ever greater debt and raping the plebs for as much as he can squeeze. He'll keep on doing this because he knows the public might cry but they won't retaliate. He will leave this country and its people destitute.

This will be his legacy to the winners of the next election, to the Conservatives. This is a Scorched Earth policy. Much the same used by losers of territorial war.

I think you're just trying to put a bit of gloss on it.

[ChimpMaster]

Scorced Earth

Well we're really in the tulipe now.

The theory is, in all likelihood, that Gordon Brown and Labour will lose the election. Hence he really doesn't care any more what the public think, and he will proceed to do whatever he likes and raise whichever taxes he sees fit. He is also somewhat unconcerned by the burgeoning national debt, which now stands at an all time record of some 40% of GDP. He's forcing the country into ever greater debt and raping the plebs for as much as he can squeeze. He'll keep on doing this because he knows the public might cry but they won't retaliate. He will leave this country and its people destitute.

This will be his legacy to the winners of the next election, to the Conservatives. This is a Scorched Earth policy. Much the same used by losers of territorial war.

[ASB]

Milton Friedman: advised General Pinochet. Pinochet, who famously massacred stadiums-full of his fellow citizens, demurred at the pain that some of Friedman's prescriptions would cause. Friedman didn't: people didn't really appear in his world-view.

Friedman was never an official advisor. He was far from the only one.

Anyway the reforms were quite miraculous for a few years what with:-

liberalized public sector - largely moved to the private sector
liberalized credit - to allow individuals access to cheap money (what with the escudo being pegged to the dollar it was very cheap money)
liberalized imports - allowing the people to buy lots of shiny new cars, tv's etc. with the cheap money they had borrowed.

It was very successful until the unanticipated event happened. In Chiles case falling metal prices. It did collapse rather spectacularly.

Anyway, we have all learnt from these mistakes and nothing like this will ever happen again will it. After all it's not like we've had easy credit. worsening trade deficit and now rapidly increasing energy and raw material prices.

[Epiphone]

general election cometh...

Yeah 'cause the first thing all the other parties will do is lower taxes eh.

[Peoplesoft bloke]

I was hoping for more of a Claud Van Dam type of comparison!

Mailman

Makes sense - like our dear PM, you aspire to be someone not many people would recognise as worthwhile.

In this case a Belgian actor who's cocaine addiction led to bipolar disorder (or was it the other way around?) and who signed divorce papers alleging spousal abuse - cool eh?

[Mailman]

Oh goody Chuck Norris is back from 'Nam again to tell us how much better things are done in the land of the septics. USA! USA!

I was hoping for more of a Claud Van Dam type of comparison!

Mailman

[RichardCranium]

pigs are more likely to fly than for our government to efficiently use public money

They do.

In helicopters.

On happy jolies chasing UFOs which they forget to take pictures of.

Yeah. Right.

Where's your tax money?

Paying for pigs to fly.

[contractor79]

excellent post

There are four ways in which you can spend money.

You can spend your own money on yourself. When you do that, why then you really watch out what you’re doing, and you try to get the most for your money.

Then you can spend your own money on somebody else. For example, I buy a birthday present for someone. Well, then I’m not so careful about the content of the present, but I’m very careful about the cost.

Then, I can spend somebody else’s money on myself. And if I spend somebody else’s money on myself, then I’m sure going to have a good lunch!

Finally, I can spend somebody else’s money on somebody else. And if I spend somebody else’s money on somebody else, I’m not concerned about how much it is, and I’m not concerned about what I get.

And that’s government. And that’s close to 40% of our national income.

Milton Friedman

great post

[expat]

There are four ways in which you can spend money.

You can spend your own money on yourself. When you do that, why then you really watch out what you’re doing, and you try to get the most for your money.

Then you can spend your own money on somebody else. For example, I buy a birthday present for someone. Well, then I’m not so careful about the content of the present, but I’m very careful about the cost.

Then, I can spend somebody else’s money on myself. And if I spend somebody else’s money on myself, then I’m sure going to have a good lunch!

Finally, I can spend somebody else’s money on somebody else. And if I spend somebody else’s money on somebody else, I’m not concerned about how much it is, and I’m not concerned about what I get.

And that’s government. And that’s close to 40% of our national income.

Milton Friedman

Sounds good, means squat. *I'll elaborate if you like but it's not my point right here.

Milton Friedman: advised General Pinochet. Pinochet, who famously massacred stadiums-full of his fellow citizens, demurred at the pain that some of Friedman's prescriptions would cause. Friedman didn't: people didn't really appear in his world-view.

Friedman's ravishing of Chile's economy failed more and more, and Friedman invariably prescribed more and more Friedmanism (shades of Thatcher here). All the while, Friedman proclaimed loudly what he called the Miracle of Chile. Actually the entire Chilean economy was sold off at bargain basement prices to multinationals (read, American companies) except the copper mines. Finally Chile did turn the corner, but only after Pinochet U-turned and re-introduced the "developmentalist" economics that work so well in most of the world.

Friedman? An apologist for American pillaging. Friedmanism works well only in the sense that if you are the US (which has never embraced Friedmanism) and you can persuade other countries to adopt it, you can strip them.

Of course, no population has ever voluntarily submitted to Friedmanism. Dictators are out of fashion these days, so Shock and Awe does the job instead.

Milton Friedman? Just smarter than Hitler, Stalin, and Mao.

[Peoplesoft bloke]

I like to be "surprisingly insightful" every now and then

Now, as I mentioned above...I reckon Gordo has f8cked up big time. He has a bloated public service that requires billions and billions of pounds to run, which is why I reckon he couldnt cut taxes even if he wanted to simply because he has to pay for the monster he has created.

What surprises me though is the total lack of discussion about the impending recession and tax rises AND the lack of comparison between America, who had tax refunds, and the UK who doesnt.

Then again, when you think about it, is this really a surprise?

A country that nationalises a bank in trouble (Northern Rock), which means all those small time shareholders now have shares worth less than its weight in tulip and a country who bailed out a bank (Bear Steins, sp??) but ultimately protected all the small time shareholders as they still have their shares and even though they are worth a fraction of what they used to be worth...at least their shares still have value and still have the opportunity to go up!

Mailman

Oh goody Chuck Norris is back from 'Nam again to tell us how much better things are done in the land of the septics. USA! USA!

[HairyArsedBloke]

The snot goblin needs to read and understand the parable of the broken window.

[Mailman]

That is surprisingly insightful for a change.

I like to be "surprisingly insightful" every now and then

Now, as I mentioned above...I reckon Gordo has f8cked up big time. He has a bloated public service that requires billions and billions of pounds to run, which is why I reckon he couldnt cut taxes even if he wanted to simply because he has to pay for the monster he has created.

What surprises me though is the total lack of discussion about the impending recession and tax rises AND the lack of comparison between America, who had tax refunds, and the UK who doesnt.

Then again, when you think about it, is this really a surprise?

A country that nationalises a bank in trouble (Northern Rock), which means all those small time shareholders now have shares worth less than its weight in sh1t and a country who bailed out a bank (Bear Steins, sp??) but ultimately protected all the small time shareholders as they still have their shares and even though they are worth a fraction of what they used to be worth...at least their shares still have value and still have the opportunity to go up!

Mailman

[DimPrawn]

No need to be abusive. If taxes were spent in an efficient manner and I got something from them like good public transport, an efficient health service, low crime and a good education system, I too would be happy to pay more.
Unfortunately pigs are more likely to fly than for our government to efficiently use public money

WHS.

[LGDT]

There are four ways in which you can spend money.

You can spend your own money on yourself. When you do that, why then you really watch out what you’re doing, and you try to get the most for your money.

Then you can spend your own money on somebody else. For example, I buy a birthday present for someone. Well, then I’m not so careful about the content of the present, but I’m very careful about the cost.

Then, I can spend somebody else’s money on myself. And if I spend somebody else’s money on myself, then I’m sure going to have a good lunch!

Finally, I can spend somebody else’s money on somebody else. And if I spend somebody else’s money on somebody else, I’m not concerned about how much it is, and I’m not concerned about what I get.

And that’s government. And that’s close to 40% of our national income.

Milton Friedman

[sasguru]

No need to be abusive. If taxes were spent in an efficient manner and I got something from them like good public transport, an efficient health service, low crime and a good education system, I too would be happy to pay more.
Unfortunately pigs are more likely to fly than for our government to efficiently use public money