Man in a Shed: If its really all about confidence...

Thursday, October 06, 2011

If its really all about confidence...

....then why all the scary mood music just now ?

After all isn't that guaranteed to knock confidence ?

Makes me wonder if the real agenda isn't something else - like softening us up for a massive contribution to the IMF to save French and German banks.

1 comment:

Elby the Beserk said...: Um, we doubled our IMF contribution from 10 to 20 billion per annum only last month. My MP was boasting about how he was against any more EU funding, then the next day voted for the above - which will of course all go to the EU. I told him exactly what I thought of what he did, and that he can forget my vote next time round.; 2:27 pm

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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