Balls Out to Save Brown
Discussion
News coverage is portraying today's announcements of a package to help the lowest paid and boost the housing market for FTBs - with shared equity schemes & possible stamp duty holiday or raised threshold - as much about saving Meltdown Brown's skin as anything else.
Balls has already given the upstart Milibrand a good verbal kicking in the studios, and clearly has his eye on Dahling Slugbrows' job at the Treasury by way of reward, not least after GBP fell further against the Euro following Slugbrows' admission that the UK is facing the worst economic climate for 60 years.
It's not 'new' money surely as there's no leeway to do anything with UK plc nearly broke, Labour too. So what would it take to save Brown and nu labia? It looks as though the nu labians really think they can buy back popularity on the cheap in spite of giving the appearance of not so much being dead in the water as rotting on the seabed.
Balls has already given the upstart Milibrand a good verbal kicking in the studios, and clearly has his eye on Dahling Slugbrows' job at the Treasury by way of reward, not least after GBP fell further against the Euro following Slugbrows' admission that the UK is facing the worst economic climate for 60 years.
It's not 'new' money surely as there's no leeway to do anything with UK plc nearly broke, Labour too. So what would it take to save Brown and nu labia? It looks as though the nu labians really think they can buy back popularity on the cheap in spite of giving the appearance of not so much being dead in the water as rotting on the seabed.
I'd heard they were going to borrow another big chunk of cash, so the little bits that they're announcing just at the moment don't actually impact on the overall state all that much.
Not that I agree with it, but there's not a cat in hells chance of the putting up UK interest rates, so I doubt that they expect to have to pay more interest than they expect on the world market.
I suppose that my view is that interest rates only seem to go up in massive stabs, when nobody expects them to.
Not that I agree with it, but there's not a cat in hells chance of the putting up UK interest rates, so I doubt that they expect to have to pay more interest than they expect on the world market.
I suppose that my view is that interest rates only seem to go up in massive stabs, when nobody expects them to.
Edited by dilbert on Tuesday 2nd September 06:54
An obvious problem which few commentators seem to have picked up on is this: The looser that fiscal policy becomes as a result of all these initiatives in an attempt to save Brown's skin, the day at which the Bank can begin cutting rates is moving further and further into the distance.
turbobloke said:
So, how can anybody possibly fall for it???
All the opinion polls suggest very few people will.Its a classic scorched earth policy. Screw the public finances to such a degree, that Cameron & Co. will spend their entire first term striving to bring the PSBR (or whatever its called this week) down.
What good is a Stamp Duty holiday?
I mean, FFS, that means people are just getting it on Credit, which is what caused half the fecking financial problems we are seeing. Not bright of HMG to perpetuate it.
Next year, they still won't have lots of money to spend (and stamp is a LOT of money when you are a FTB), so what will they do? Use the credit card......
I mean, FFS, that means people are just getting it on Credit, which is what caused half the fecking financial problems we are seeing. Not bright of HMG to perpetuate it.
Next year, they still won't have lots of money to spend (and stamp is a LOT of money when you are a FTB), so what will they do? Use the credit card......
I cannot believe this load of crappy Keynesian rubbish.
Labour jettisoned the "New" and have cobbled together a 1970s-esque government splurge of cash to the "worthy" to artificially shore up a market that is in the process of correcting itself.
Cameron has to go for a no-confidence vote and totally distance himself from this; at least to make a footnote in history that this was a total mistake.
Like many people, I can see the first Tory administration having to do a 1980 Howe-like fiscal adjustment in their budget.
Raise taxes to repay the debt and restore financial confidence
Slash public spending.
And then Labour can pounce with the same old "It's the Tories fault."
As one chap here has put, this is Labour Scorched Earth.
They must really 'love' this country.
I really hope Balls does make a move for Chancellor - it will put Labour 30+ points behind in the polls and out for a generation.
Labour jettisoned the "New" and have cobbled together a 1970s-esque government splurge of cash to the "worthy" to artificially shore up a market that is in the process of correcting itself.
Cameron has to go for a no-confidence vote and totally distance himself from this; at least to make a footnote in history that this was a total mistake.
Like many people, I can see the first Tory administration having to do a 1980 Howe-like fiscal adjustment in their budget.
Raise taxes to repay the debt and restore financial confidence
Slash public spending.
And then Labour can pounce with the same old "It's the Tories fault."
As one chap here has put, this is Labour Scorched Earth.
They must really 'love' this country.
I really hope Balls does make a move for Chancellor - it will put Labour 30+ points behind in the polls and out for a generation.
Edited by 215cu on Tuesday 2nd September 08:50
More information here:
http://news.bbc.co.uk/1/hi/uk_politics/7592852.stm
So, basically, a huge bung to the core voters. There's a surprise.
http://news.bbc.co.uk/1/hi/uk_politics/7592852.stm
So, basically, a huge bung to the core voters. There's a surprise.
Agree with all of that but when it all fails to lift slackjaw's popularity is there time, energy and any credible alternative - given that there's no credibility left in Incapability Brown and he's meant to be the 'best man to see us though the crunch'? Balls must be looking at getting a period at the Treasury helm as the endgame here.
guberment said:
For existing homeowners who can no longer afford mortgage payments, the government says councils or social housing landlords can pay off the debt and instead charge tenants rent "at a level they can afford".
Nearly missed this bit. Trying to nationalize the housing stock. Nice!supersingle said:
guberment said:
For existing homeowners who can no longer afford mortgage payments, the government says councils or social housing landlords can pay off the debt and instead charge tenants rent "at a level they can afford".
Nearly missed this bit. Trying to nationalize the housing stock. Nice!The same night I'd be on a plane to another third world country and never come back. It's easy for a person to get lost in a country where passports and credit cards don't matter.
supersingle said:
guberment said:
For existing homeowners who can no longer afford mortgage payments, the government says councils or social housing landlords can pay off the debt and instead charge tenants rent "at a level they can afford".
Nearly missed this bit. Trying to nationalize the housing stock. Nice!Gassing Station | The Pie & Piston Archive | Top of Page | What's New | My Stuff