Man in a Shed: Prescott

Saturday, May 26, 2007

6 months ago this would have been the blogger headline of choice :-

Prescott stretches 'junket' into family holiday By Tom Leonard (In today's Telegraph ).

Instead we are treated to Postman Pats attempt to stir up the class war by getting parents who send their children to independent schools to pay 3 times for their education, instead of just twice as they do now.

By the way if I was a teacher in the state sector I'd be furious at the implication that independent teachers are better.

As someone who spent time in both systems - let me tell you that is far from being the clear case. In fact a number of the people teaching in the independent sector were not qualified as teachers.

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