Man in a Shed: Fracking and Heathrow

Thursday, July 02, 2015

Fracking and Heathrow

We have the situation of a council going against its own legal advice to refuse planning permission for the UK's first Fracking site.

What the BBC and its Luddite allies fail to report is the impact this will have on the UK. Our balance of payments will get worse ( its terrible right now ), gas costs will stay high, industry will continue to leave the UK and fuel poverty will rise as gas prices increase and green rent charging makes a few very rich and freezes pensioner to death.

Also we have the beating about the bush on Heathrow.

Yes there needs to be a 3rd and a 4th runnway at Heathrow.

The idea of moving Heathrow further West might have worked, but failing that its timne to get on with it. The alternative is to continue to fall behind the rest of the world. The UK now depends on services to pay the bills and those services depend on links to the world. Gatwick just won't cut it as a hub airport.

What these two issues have in common is a need for political leadership.

I'm not going to hold my breath on that one.

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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