Man in a Shed: One or two questions

Tuesday, October 07, 2008

One or two questions

Why does no one pay attention to how well HSBC have done by taking good decisions and forgoing the stella schemes of Brown's last few years over seeing the city ?
Is anyone from HSBC on the re badged Cabinet meeting - the whatever spin title will sound good one packed with Labour cronies.
How long before governments become unable to pay civil servants ?
When will government start confiscating our savings / pensions ?

2 comments:

The Daily Pundit said...: There's no chance of that. I transferred all my savings a few weeks ago to an online bank based in Iceland. Anyway, what's been happening in the news today?; 8:51 pm
Curly said...: A recession will do us all good, we ought to embrace it, it is the markets way of taking heat out of an unevenly growing economy.

A bit of austerity will put western economies back on their feet and start to rid the world, it's people, and it's governments of horrendous amounts of debt.; 9:25 pm

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