I do not have the tools to get into the should we save my maternal home town of Port Talbot’s main industry. In a world of massive subsidy and zombie industries it is hard to argue subsidy as anything but a bottomless pit look at the banks. Equally losing whole industries and relying on a Financial Parasite that could turn round and say it owes Bns tomorrow is hardly reassuring.
Nonetheless it does shine a light on conventional economics and the idea stretching back to Ricardo of Comparative Advantage. Essentially this ends up stating the workers of Port Talbot will now move to an industry that they have a trading advantage in.
Yes it’s utter shite and you need a PhD in ‘conomics to argue differently.
The only reason a sane left leaning person could have for staying in the EU is they fear what a muddled loony bin of 24/7 Surveillance and check points we will become and are becoming anyway. The EU as a construct is now ridiculous torn by nationalism and possibly German Ordo Liberalism that is in danger of giving the UK’s neo Liberalism a good name.
Britain is run for a minority who want to deny the young the advantages they had – free health, universal pension, returns on savings, free education, welfare safety net & peace, Common Market and security. Together with corporate, rural, oil, bankers and other sponger groups. Nonetheless this minority added with UKIP voters is over 50% of those who will vote so I would not rule out BrExit. The BrExit campaign itself is a conceit the UK can pretend Globalisation does not exist and that it is capable for delivering an immigration free Britain.
Essentially the issue is neo Liberalism. Issues with extra protection for rabidly authoritarian main parties in the UK are almost moot since they seem to have no trouble pushing their proto fascist agendas with ‘all’ party support. Of course with 95% supporting parties* committed to the cause of choice less joyless neo Liberalism BrExit is a minor issue albeit I am slightly in favour if only to show the EU free migration are meaningless in what ails the UK.
* SNP Labour Liberal Democrats Conservatives and UKIP
Taxes on wages and consumption are rising and taxes on profits are falling and indeed some land taxes are falling and in relation to the value of land in say London dropping off a cliff.
As economic policy boosts land prices [low rates uncontrolled lending] and the debt associated with it [Mortgages] essentially Govt is moving money to landowners and finance. Thus Ferrari dealers, Estate Agents and large Cigar salesmen may never have had it so good but shops will close and the high street and online traders suffer.
People can point to rising GDP but per Capita that is moot and indeed tax revenue is amazingly static if the economy is really growing. That GDP is 11% the imputed rent [paid to yourself if you own your own house!] so whether it has grown and by how much is surely a debate. Yes GDP is a flawed stat but the only one we have….
The Chancellor is essentially stripping demand from the economy (taxes on wages, VAT reduced tax credits (still happening), reduced Dole, reduced Govt Spending, raised rents) etc. To balance the books he is selling off state assets a thing that has failed miserably – privatised utilities often don’t pay UK tax and many have balance sheets so stripped Govt needs to guarantee their finance removing any point to the sell off.
This may actually end up worse than Brown who wasted 100s Billions on RBS and others in free money, bailouts and PFI. However both seem to believe an economy based on rents and usury can make up for not making or producing anything else and they seem determined to achieve that.
Nassim Taleb pointed out how minority tastes can come to dominate. Noting most soft drinks in America were Kosher. Or why Pizza is so prevalent. This can be seen by political systems development. Thus although a majority of US would choose many other candidates against the openly corrupt and proud of it Clinton or the preening ignorant narcissist Trump short of a 3rd party interloper that could well be the Election choice.
In England the apparent differences don’t matter where a vast majority of MPs reside in constituencies offer you a choice of a Labour party led by an un-updated 80s Socialist or a Landed and Subsidy junkie Landed Conservative party. Whilst Labour has 2 wings who don’t have a basic idea between them and sadly almost nothing between [politically and their ears]. The Conservatives have a spread of rational views but sadly the Finance and Landed gentry neo Libs are in charge. It’s all very well to believe in Freedom and Markets but how you remain a Conservative? The problem is with the cost and media hiding behind faux impartiality or outright voice of the Plutocrat no MP from Conservative or Labour will lead a breakaway. Being an MP is a sinecure and maybe they hope Corbyn lightening will strike for them?
Possibly if Corbyn stays in charge and gains in the polls finance will be available but again who or what does Labour have to split? Recycled garbage which is how Corbyn got there. They can flip from Austerity more severe than they complained about under the coalition to basically welcoming Osborne’s flips but offering nothing else. They are led by media and Govt even 4 years off an election.
Ed Miliband’s gutless or stupid or undemocratic decision not to back AV will be brutally rammed down Labour’s throat at the next election as a despised Conservative party wins with its 25% coalition of the subsidised.
Labour fervently supported last year’s Conservative Budget before a back bench rebellion by Conservatives led to some revisions. Now they attack IDS for not backing current budget. This is understandable till you find out they do not either.
Labour seem to want to complain about what IDS has done in the past even though they supported it last July. Indeed so fervent was the support of the mainstream PLP its 3 candidates were prepared to lose the leadership election over it.
IDS has handed Labour a gift but they are currently showing their preference for unearned conceit, hypocrisy and stupidity. Attack the Govt not the messenger!