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Finally! Exposed! The Deficit Myth! So, David Cameron When Are You Going to Apologise?


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From Huffington post. Link here: http://www.huffingtonpost.co.uk/ramesh-patel/growth-cameron-austerity_b_2007552.html

 

 

"A lie gets halfway around the world before the truth has a chance to get its pants on"

- Winston Churchill

 

As a Conservative I have no pleasure in exposing David Cameron's deficit claims. However, as long as the party continues to talk down the economy via the blame game, confidence will not be given an opportunity to return. For it is an undeniable and inescapable economic fact: without confidence and certainty there can be no real growth.

 

Below are the three deficit claims - the mess. The evidence comes from the IMF, OECD, OBR, HM Treasury, ONS and even George Osborne. The claims put into context are:

 

CLAIM 1

The last government left the biggest debt in the developed world.

 

After continuously stating the UK had the biggest debt in the world George Osborne admits to the Treasury Select Committee that he did not know the UK had the lowest debt in the G7? Watch: Also, confirmed by the OECD Those who use cash terms (instead of percentages) do so to scare, mislead and give half the story.

 

Its common sense, in cash terms a millionaire's debt would be greater than most people. Therefore, the UK would have a higher debt and deficit than most countries because, we are the sixth largest economy. Hence, its laughable to compare UK's debt and deficit with Tuvalu's who only have a GDP/Income of £24 million whilst, the UK's income is £1.7 Trillion.

 

Finally, Labour in 1997 inherited a debt of 42% of GDP. By the start of the global banking crises 2008 the debt had fallen to 35% - a near 22% reduction page 6 ONS Surprisingly, a debt of 42% was not seen as a major problem and yet at 35% the sky was falling down?

 

CLAIM 2

Labour created the biggest deficit in the developed world by overspending.

 

Firstly, the much banded about 2010 deficit of over 11% is false. This is the PSNB (total borrowings) and not the actual budget deficit which was -7.7% - OBR Economic and Fiscal Outlook March 2012 page 19 table 1.2

 

Secondly, in 1997 Labour inherited a deficit of 3.9% of GDP (not a balanced budget ) and by 2008 it had fallen to 2.1% - a reduction of a near 50% - Impressive! Hence, it's implausible and ludicrous to claim there was overspending. The deficit was then exacerbated by the global banking crises after 2008. See HM Treasury. Note, the 1994 deficit of near 8% haaaaaah!

 

Thirdly, the IMF have also concluded the same. They reveal the UK experienced an increase in the deficit as result of a large loss in output/GDP caused by the global banking crisis and not even as result of the bank bailouts, fiscal stimulus and bringing forward of capital spending. It's basic economics: when output falls the deficit increases.

 

Finally, the large loss in output occurred because the UK like the US have the biggest financial centres and as this was a global banking crises we suffered the most. Hence, the UK had the 2nd highest deficit in the G7 (Not The World) after the US and not as a result of overspending prior to and after 2008- as the IMF concur.

 

CLAIM 3

Our borrowing costs are low because the markets have confidence in George Osborne's austerity plan and without it the UK will end up like Greece.

 

Yes, the markets have confidence in our austerity plan and that's why PIMCO the worlds largest bond holder have been warning against buying UK debt.

 

The real reason why our borrowing costs have fallen and remained low since 2008 is because, savings have increased. As a result, the demand and price for bonds have increased and as there is inverse relationship between the price of bonds and its yield (interest rate) the rates have fallen. Also, the markets expect the economy to remain stagnate. Which means the price for bonds will remain high and hence, our borrowing costs will also remain low.

 

Secondly, the UK is considered a safe heaven because, investors are reassured the Bank of England will buy up bonds in an event of any sell off - which increases the price of bonds and reduces the effective rate. Note, how rates fell across the EU recently when the ECB announced its bond buying program. Thirdly, because, we are not in the Euro we can devalue our currency to increase exports. Moreover, UK bonds are attractive because, we haven't defaulted on its debt for over 300 years.

 

David Cameron would like people to believe the markets lend in the same way as retail banks lend to you and I.

 

Overall, when the facts and figures are put into context these juvenile deficit narratives and sound bites ("mere words and no evidence") simply fail to stand up to the actual facts. The deficit myth is the grosses lie ever enforced upon the people and it has been sold by exploiting people's economic illiteracy.

 

So, David Cameron when are you going to apologise?

 

Cameron is playing the blame game to depress confidence and growth to justify austerity. Secondly, to use austerity as justification for a smaller state to gain lower taxes. Thirdly, to paint Labour as a party that can not be trusted with the country's finances again. Therefore, we Conservatives will win a second term because, people vote out of fear. The latter strategy worked the last time in office (18 years) and will work again because, in the end, elections are won and lost on economic credibility. Hence, as people believe Labour created the mess they won't be trusted again.

 

Finally, as the truth is the greatest enemy of the a lie I urge you to share this on Facebook, Twitter, blogs, text and email etc etc. So the truth can be discovered by all. Finally, have no doubt, people have been mislead by the use of the following strategy:

 

"If you tell a lie big enough and keep repeating it, people will eventually come to believe it" Joseph Goebbels

 

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Why don't you guys take this seriously. This is the undeniable truth.

It must be surely, I read it on the internet and facebook. Both of which are acknowledged leaders in only publishing facts, apart from the daily mail that is. :D

Nice to see you've rejoined us Brian. (lol)

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Guest 1footinthegrave

I've never understood any member of the public declaring themselves to be Conservative, Labour or anything else for that matter. Why can't people merely take off their blinkers and study what ANY party has to offer, then vote accordingly.

 

Having said that am I surprised than any politician has the capacity to "tell the truth, the whole truth, and nothing but the truth " no. (!)

 

Nice to see that a convicted ex MP who was proven to be a lair is now back swanning around on TV chat shows, and landed a two day week job on £100,000 a year, and Blair gets thousands for after dinner speeches.

 

If that doesn't say anything about the calibre of many politicians I don't know what does.

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1footinthegrave - 2013-11-14 1:46 PM

 

Why can't people merely take off their blinkers and study what ANY party has to offer, then vote accordingly.

 

.

 

 

Maybe because, like me, they live in a " safe seat " constituency.

 

There's been a Tory M.P. here since time began and voting for anyone else is completely pointless.

 

( ..and yes, I do always vote ).

 

:-(

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Guest 1footinthegrave
malc d - 2013-11-14 1:54 PM

 

1footinthegrave - 2013-11-14 1:46 PM

 

Why can't people merely take off their blinkers and study what ANY party has to offer, then vote accordingly.

 

.

 

 

Maybe because, like me, they live in a " safe seat " constituency.

 

There's been a Tory M.P. here since time began and voting for anyone else is completely pointless.

 

( ..and yes, I do always vote ).

 

:-(

 

Isn't that precisely the point I was trying to make, blinkered idiots who just keep voting the same :-S

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1footinthegrave - 2013-11-14 1:58 PM

 

malc d - 2013-11-14 1:54 PM

 

1footinthegrave - 2013-11-14 1:46 PM

 

Why can't people merely take off their blinkers and study what ANY party has to offer, then vote accordingly.

 

.

 

 

Maybe because, like me, they live in a " safe seat " constituency.

 

There's been a Tory M.P. here since time began and voting for anyone else is completely pointless.

 

( ..and yes, I do always vote ).

 

:-(

 

Isn't that precisely the point I was trying to make, blinkered idiots who just keep voting the same :-S

 

 

 

Or they are quite happy with the way the country is run ?

 

 

;-)

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Guest 1footinthegrave
malc d - 2013-11-14 2:12 PM

 

1footinthegrave - 2013-11-14 1:58 PM

 

malc d - 2013-11-14 1:54 PM

 

1footinthegrave - 2013-11-14 1:46 PM

 

Why can't people merely take off their blinkers and study what ANY party has to offer, then vote accordingly.

 

.

 

 

Maybe because, like me, they live in a " safe seat " constituency.

 

There's been a Tory M.P. here since time began and voting for anyone else is completely pointless.

 

( ..and yes, I do always vote ).

 

:-(

 

Isn't that precisely the point I was trying to make, blinkered idiots who just keep voting the same :-S

 

 

 

Or they are quite happy with the way the country is run ?

 

 

;-)

 

What everyone...................... both in "safe" Labour or Tory seats, I don't think that works do you ? they both can't like the way the country is run. :-S

 

It's the "my dad always voted blah blah blah, like I said morons, instead of engaging their brains. ;-)

 

Is there a tip there I wonder.

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1footinthegrave - 2013-11-14 2:37 PM

 

 

 

What everyone...................... both in "safe" Labour or Tory seats, I don't think that works do you ? they both can't like the way the country is run. :-S

 

 

Is there a tip there I wonder.

 

 

 

That is the way our system works.

 

The ' left ' run the country for a few years - until they either get complacent, or screw up.

 

We then kick'em out.

 

The ' right ' then run the country for a few years - until they either get complacent or screw up.

 

We then kick them out.

 

It's the way our version of ' democracy ' has evolved.

 

 

;-)

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Guest 1footinthegrave
The only voters that cause change are the ones with brain, they are the ones that have an open mind and DO vote for another party ;-) still never mind eh
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malc d - 2013-11-14 1:54 PM

 

1footinthegrave - 2013-11-14 1:46 PM

 

Why can't people merely take off their blinkers and study what ANY party has to offer, then vote accordingly.

 

.

 

 

Maybe because, like me, they live in a " safe seat " constituency.

 

There's been a Tory M.P. here since time began and voting for anyone else is completely pointless.

 

( ..and yes, I do always vote ).

 

:-(

Same here in boston. The tories always get in. I don't know why, as it's a low wage agricultural area and needs a good kick up the arse as the tories have had it their way for far too long.

Oh.......hang on I think Nigel Farage is about to do just that, as he wants to stand as a prospective mp for boston. Mind you he's a damn sight worse than the other lot. >:-)

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Guest 1footinthegrave

Yes of course he is, and people wonder why nothing changes, still there's no shortage of brain dead morons that keep voting for more of the same tired parties. :-S

 

I suppose closing Plymouths dock yards, and ordering ships from Korea is supporting the UK, yes still keep voting for the idiots, and slag off Nigel Farage instead.

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Guest pelmetman

The system won't change until the usual suspects start loosing their safe seats *-).........

 

I won't hold my breath though.............as the voting public does appear to have a high lemming content ;-).....

 

 

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Guest 1footinthegrave

Perhaps they have twigged that given we have for decades only really have two parties to choose from they just get more of the same, you can't put a fag paper between them, so why bother. ;-)

 

BUT............we have a situation here where the only reason our MP get's elected is because he's a Welsh man, and a Welsh speaker, and belongs to a Welsh party, in a nationalistic area of Wales, not because Plaid Cymru have a hope in hell in forming a government, but that seems to escape the morons here.

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Guest Had Enough
1footinthegrave - 2013-11-14 10:37 PM

 

Yes of course he is, and people wonder why nothing changes, still there's no shortage of brain dead morons that keep voting for more of the same tired parties. :-S

 

I

 

As usual you display exactly the same attitude that you constantly exhibit both here and in Motorhome Matters, which is that anyone who doesn't do exactly what you think is right is some kind of idiot.

 

I'm a Conservative, I support Conservative principles and if you'd be bothered to do a bit of research you'd learn that there's much more than a fag packet between them. There are deep ideological differences.

 

The real morons are those idiots who actually believe in the values of either the Labour Party or the Tories but will vote for UKIP just because of some knee-jerk reaction to immigration.

 

So perhaps you can tell me whom I should vote for? I support the Conservatives. I don't like Labour or the Lib Dems. I believe that we are better off in the EU than out of it.

 

So whom should I vote for then? Like millions of others I'll vote Tory, because I think they're the best choice for the country.

 

What you should be saying is what you really believe, which is:

 

"I don't like the EU so I'm voting UKIP and anyone who doesn't think exactly as Onefoot does is a moron."

 

I think I know who the real morons are thank you.

 

 

 

 

 

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Guest 1footinthegrave

I personally couldn't give a sh*t who you vote for. ;-)

 

But presumably you'd agree that Labour voters are morons, as they don't vote for "your" party as they obviously lack your insight.

 

Oh and just for your information as I live in a very "safe" Plaid Cymru seat it doesn't matter a sh*t who I vote for anyway. ;-)

 

By the way you must tell which charm school you attended. (!)

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Guest Had Enough
1footinthegrave - 2013-11-15 2:55 PM

 

I personally couldn't give a sh*t who you vote for. ;-)

 

But presumably you'd agree that Labour voters are morons, as they don't vote for "your" party as they obviously lack your insight.

 

Oh and just for your information as I live in a very "safe" Plaid Cymru seat it doesn't matter a sh*t who I vote for anyway. ;-)

 

By the way you must tell which charm school you attended. (!)

 

You obviously haven't realised that this one sentence from you perfectly sums up the point I made about your inability to accept that others are entitled to a different opinion from yours! You said:

 

"But presumably you'd agree that Labour voters are morons, as they don't vote for "your" party as they obviously lack your insight."

 

No I wouldn't agree, because unlike you I don't think that anyone who doesn't do exactly as I do is a idiot or a moron!

 

People far more intelligent than you or me believe in the ideology of the Labour Party. People far more intelligent than you or me believe in the ideology of the Conservative Party. Politics is an inexact science!

 

It doesn't matter what it is, from using your own showers as opposed to site facilities, or voting for an established party as opposed to a protest vote for UKIP, whatever Onefoot does is the only way and anyone daring to disagree is an idiot.

 

And as for my charm school it was clearly a better one than yours as, in this thread alone, you have classified those who don't follow your policy, of being blinkered idiots, brain dead morons and plain ordinary morons.

 

In fact when I look back on the thread about showering in your 'van it's very obvious who the real idiot is! I don't think I've seen anyone so comprehensively shot down in flames as you were in that debate!

 

 

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1footinthegrave - 2013-11-15 10:20 AM...........................BUT............we have a situation here where the only reason our MP get's elected is because he's a Welsh man, and a Welsh speaker, and belongs to a Welsh party, in a nationalistic area of Wales, not because Plaid Cymru have a hope in hell in forming a government, but that seems to escape the morons here.

But, you chose (I assume of your own free will) to move to Wales, from England, so to many Welsh, you are yourself an immigrant. Not only did you choose Wales, but you chose a particularly nationalistic, Welsh speaking, part of Wales. You now encounter the voting prejudices of Welsh nationalism, and you object. You also object to the idea of others, from outside the UK, immigrating to the UK. It is rather difficult to be that sympathetic in either case, under the circumstances. Shades of Mrs Bedonebyasyoudid? :-D

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Guest 1footinthegrave
Oh do get over it, it's an anonymous forum, I'm sure the majority don't give a sh*t what I say, so lighten up. ;-) enjoy your shower.
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Guest 1footinthegrave
Brian Kirby - 2013-11-15 4:23 PM

 

1footinthegrave - 2013-11-15 10:20 AM...........................BUT............we have a situation here where the only reason our MP get's elected is because he's a Welsh man, and a Welsh speaker, and belongs to a Welsh party, in a nationalistic area of Wales, not because Plaid Cymru have a hope in hell in forming a government, but that seems to escape the morons here.

But, you chose (I assume of your own free will) to move to Wales, from England, so to many Welsh, you are yourself an immigrant. Not only did you choose Wales, but you chose a particularly nationalistic, Welsh speaking, part of Wales. You now encounter the voting prejudices of Welsh nationalism, and you object. You also object to the idea of others, from outside the UK, immigrating to the UK. It is rather difficult to be that sympathetic in either case, under the circumstances. Shades of Mrs Bedonebyasyoudid? :-D

 

Where exactly did I say I objected to Welsh voting nationalism, and why do you assume I am not Welsh.

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Guest Had Enough
1footinthegrave - 2013-11-15 4:25 PM

 

Oh do get over it, it's an anonymous forum, I'm sure the majority don't give a sh*t what I say, so lighten up. ;-) enjoy your shower.

 

Get over it? That's rich! You're the one constantly not getting over it and whinging about everything and everyone!

 

But you're right, we don't really care about your views as they're normally very silly, but we do enjoy exposing your one-sided and usually unthinking contributions.

 

 

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