Man in a Shed: Party funding and debt

Tuesday, November 28, 2006

Party funding and debt

Looking at all the main parties debt positions I'm shocked and disheartened.

Political parties should - in time - be banned from borrowing money. No case = no spending.

They need to learn about sound money - including the Conservative party.

When I get round robin letters from the party for more donations and realise they are so far in debt I ask myself what's the point ? I can spend the money better than they can.

Get this sorted out - now. (No sniggering at the back SNP/Plaid - wait till you see the debt situation your going to wind up with if independence goes through.)

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The pound in your pocket

"We used to think that you could spend your way out of a recession and increase employment by cutting taxes and boosting government spending. I tell you in all candour that that option no longer exists." James Callaghan

“The trouble with theoretical economists is that they don't understand that when you have a deficit, you can only finance it by borrowing, and you've got to persuade people that it's worth lending money to you and that they'll get their money back... there's no way of escaping it.” Dennis Healey during the 1976 Stirling Crisis.

"Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens ... Lenin was certainly right. There is no subtler, no surer means of over-turning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose." John Maynard Keynes, 1920.

"To preserve [the people's] independence, we must not let our rulers load us with perpetual debt. We must make our selection between economy and liberty, or profusion and servitude." Thomas Jefferson, President of the United States of America,1801-1809.

Inflation is taxation without legislation .. Milton Friedman