“Unfortunately, the current process set out in the Ministerial Code, where officials carry out costings based on assumptions provided by Special Advisers, is now putting HM Treasury officials in an impossible position.” Letter from Ed Balls, January 4 2015
“The Labour Party is today publishing a factual account of the cost of a Conservative government based on the Conservative Party’s own figures and analysis from publicly available figures, such as costings from HM Treasury.” Dossier issued by Alistair Darling, January 4 2010
Actually money is gold - currencies are merely a way of measuring it. My proposal is to pay in reguarly to approved pension pots for all individuals but to allow the individuals absolute freedom on how this should be invested. I'd recommend a good mix of asset types, currencies, etc. Putting all into a Sterling 'money' account is, I agree, not the way to go.
This is pretty much what I was suggesting, and EiT was telling me would not work. It sounds similar in practise to me to the CPF in Singapore.
In the case of the Japanese with the bank notes under the mat, presumably they will be better off in the future than those without bank notes under the mat. Whatever the new labour rates are in their world of scarce labour, those will money should be better off than those without one would expect.
I didn't say it wouldn't work - it works fine, as does the state paying out pensions from the next generation's taxes. But they're both different ways of setting up a debt for the next generation to pay, and they'll both fail if the next generation doesn't have enough guys to turn whatever instrument the promise is in (including cash) into useful work.
In terms of Scotland's economy and the oil price, no one is listening.
Ofcourse not. Nationalism is a "gut" issue, most people that believe in independence would vote for it even if it made them worse off. Its the same as kippers and Europe, accusing them off wanting to be worse off outside the EU doesn't go very far, being outside the EU overrides all other considerations, in the same way as being outside the UK does for the SNP.
I don't think this is true for all eurosceptics. If the EU was economically and politically beneficial for the UK, I'd support staying in. It's just clearly that the reverse is true. That's why pro-EU people have to make the economic case for the EU on the basis that no other economic agreements would be made to replace membership.
Regarding pensions, I'm afraid Neil and EiT are absolutely right.
Ultimately, when you are not working, someone else is paying for your life. The nature by which this burden falls on working age people varies, but all retirement is paid for by people of working age.
Mr. G, surely you agree the collapse in the oil price would've substantially and negatively affected an independent Scotland's economy?
Also, how do you see the General Election going north of the border?
MD , if it stays as it is then it would have had an initial impact. Whole point of independence was to change way country was run and not live by borrowing as UK currently does, so it would not have been the end of the world, and inevitably it will go back up given the finite amount available. It looks very likely SNP will make gains and it is only to be hoped that people do not fall for usual labour guff about how they will look after Scotland, given their 50 year shambles , and vote SNP to give Scotland a real Scottish voice in Westminster rather than a Labour regional lapdog set of donkeys at the trough.
A lot of Japanese people have a bunch of yen banknotes stashed under the tatami. It won't protect them from the demographics when they come to try to cash it in for the labour of a decreasing number of workers.
Actually money is gold - currencies are merely a way of measuring it. My proposal is to pay in reguarly to approved pension pots for all individuals but to allow the individuals absolute freedom on how this should be invested. I'd recommend a good mix of asset types, currencies, etc. Putting all into a Sterling 'money' account is, I agree, not the way to go.
(Japan's utter unwillingness to accept immigrants or to procreate are Japanese problems - not UK ones - and all the money in the world may not be much use to them if there is nobody physically there to care for the elderly. No wonder they are big on healthcare robot research!).
He's a swivel-eyed loon with bonkers views who would've been guaranteed to terrify 9/10ths of the electorate and send parents with young children scurrying for cover. A much less telegenic British politician it would be hard to find since 1945. And I even include Miliband in that.
In many ways this is the problem. 9/10th of the electorate have no idea about the realities of the country, most of them believe in the magic money tree. People like Redwood scare them because they tell them the truth they dont want to hear, all that nasty stuff about not making enough, and spending too much.
Most of the electorate would much rather elect a plausible fool who sounds good and doesn't threaten their beliefs... which is why they are about to elect Miliband, even the ultra-modest pruning of the state tree was far too much for most people. We constantly hear all this crap about "austerity fatigue" when you would need a magnifying glass to notice the level of cuts made so far.
Given that that interpretation doesn't even correct for inflation, let alone economic growth, I don't think it has much credibility on the specific effects of the rate cut.
Yes and labour still harking back to referendum and saying we would be skint as oil price has dropped, they really are as thick as they sound.
In terms of Scotland's economy and the oil price, no one is listening.
Or are they quietly patting themselves on the back for having made the right call.....?
I think the vast majority of Scots are more focused on petrol prices plummeting. It might come as a surprise to many of you on this site that the majority of the population are not amateur economists. Banging on about the oil price isn't going to work for SLAB, that said, if they want to keep on shouting about it, fine by me.
Yes and labour still harking back to referendum and saying we would be skint as oil price has dropped, they really are as thick as they sound.
In terms of Scotland's economy and the oil price, no one is listening.
Or are they quietly patting themselves on the back for having made the right call.....?
I think the vast majority of Scots are more focused on petrol prices plummeting. It might come as a surprise to many of you on this site that the majority of the population are not amateur economists. Banging on about the oil price isn't going to work for SLAB, that said, if they want to keep on shouting about it, fine by me.
I agree with this. It would have been a big problem for Scotland during any hypothetical independence negotiations, but the referendum was lost so it's a theoretical point only.
For 2015, the parties need to be focussing on their forward offer.
He's a swivel-eyed loon with bonkers views who would've been guaranteed to terrify 9/10ths of the electorate and send parents with young children scurrying for cover. A much less telegenic British politician it would be hard to find since 1945. And I even include Miliband in that.
People like Redwood scare them because they tell them the truth they dont want to hear
I think it's more to do with looking and sounding like a Martian.
Banging on about the oil price isn't going to work for SLAB, that said, if they want to keep on shouting about it, fine by me.
The oil price is also largely irrelevant to the elections which are coming up (Westminster and Holyrood). It was of course hugely relevant to IndyRef, but if SLAB are making a big thing of it now, they are not only fighting the last war, they are trying to fight a naval battle with an infantry brigade.
Edit: I see antifrank made the same point before me
@politicshome: Miliband on Britain's EU membership: "Whatever the politics, I will not join those who cynically offer exit as a realistic plan."
He's drawing a clear dividing line then. It's high risk because Cameron's 2016 vote strategy offers something only Europhiles who think they might lose would fear.
One of the advantages of UKIP is that it makes Cameron look centrist.
That polling confirms that Scrapheap's and mine's Dry but not obsessed with the gays and the EU Tory Party would win a landslide.
so since self evidently the voters don't think we have one or Cameron would be romping home, where's it going to come from ?
Personally I'd just settle for a vaguely competent one.
Unfortunately the current Tory party does appear to be obsessed with the gays and Europe.
Dave's greatest strategic blunder was to try and appease the UKIP fifth columnists.
hmmm
not quite sure that's true Mr Eagles.
Mr Cameron's faux pas have more to do with ignoring the bread and butter issues. If you're a gay banker in London this is a great government, unfortunately there are enough of them to win an election.
If Cameron had had his detox by keeping the 50p tax reduction til the next parlt and kicked the crap out of some of the banks he'd be in much better shape. He'd have detoxed on the side of ordinary people rather than his own social circle.
So your criticism of Dave is he didn't go down the easy PR route, but did the right thing, in terms of boosting the economy and raising tax revenues, as cutting the 50p tax rate has increased tax revenues.
actually not at all.
The criticism is if he'd have held the "we're all in this together" line he'd be heading for a majority and the need to raise more taxes would in the medium term decline as a fically sensible government ( assuming he'd sacked Osborne ) would be less of an onus on the rest of us.
Regarding pensions, I'm afraid Neil and EiT are absolutely right.
Ultimately, when you are not working, someone else is paying for your life. The nature by which this burden falls on working age people varies, but all retirement is paid for by people of working age.
I am still confused.
The bit I am struggling to understand is that Mr Rich, inherits millions and spends his whole life in a jacuzzi, when he retires he has less money, but in essence continues to live off his wealth, I can't see how someone else is paying for his life.
Mr Busy, works his whole life diligently, he buys physical gold with his spare money and put it in a box, when he retires he starts taking the gold out the box and selling it to pay for his lifestyle. From the point of retirement on I can't see how his life is any different to Mr Rich
Mr Average does pretty much as Mr Busy, but he invests his spare money in Index Linked savings instruments, which he starts to sell off on retirement. Now it start to get a bit hazy for me, is this in any real way different to the circumstances of Mr Rich or Mr Busy ?
Perhaps you can recommend something relevant to read here for the amateur investor.
Excellent speech from Ed.It is so good to see a leader acting in the national interest and not for base party political advantage over the EU ref.Cameron should have told Farage to eff off.Instead,he wanted to shoot his fox via the referendum and it has not worked leaving Cameron in an impossible position,putting the economy at risk with unnecessary instability.Cameron is a traitor to his country.
@michaelsavage: Labour audience shout "pilluck" and "get back to London" at @BBCNormanS for saying there has been no NHS winter crisis. Ed asks for respect.
He's a swivel-eyed loon with bonkers views who would've been guaranteed to terrify 9/10ths of the electorate and send parents with young children scurrying for cover. A much less telegenic British politician it would be hard to find since 1945. And I even include Miliband in that.
People like Redwood scare them because they tell them the truth they dont want to hear
I think it's more to do with looking and sounding like a Martian.
The only politician's blog worth reading, that he would never be able to forge a career as a used car salesman is something the electorate, not I, hold against him.
I guess it's the difference between Ron Paul and Rand Paul. Same policies but only one is or will be a realistic contender for President.
Ed desperate to have some questions from national journalists but, apart from the BBC, they've all come from activists so far. He just asked whether ITN or Sky would like to ask a question but there was no reply.
@politicshome: Miliband on Britain's EU membership: "Whatever the politics, I will not join those who cynically offer exit as a realistic plan."
He's drawing a clear dividing line then. It's high risk because Cameron's 2016 vote strategy offers something only Europhiles who think they might lose would fear.
One of the advantages of UKIP is that it makes Cameron look centrist.
Given that UKIP are winning votes off Labour, it's hard to claim they're unduly right wing.
Whether or not you agree with exit, it's absurd to say being outside the EU is not "realistic". Switzerland, Canada, Australia, South Korea and plenty of other highly successful nations are not part of an international political union.
Miliband wants to be in the EU not because it's "realistic", but because it removes political power from the English people, who he regards as the wrong type of electorate.
That polling confirms that Scrapheap's and mine's Dry but not obsessed with the gays and the EU Tory Party would win a landslide.
so since self evidently the voters don't think we have one or Cameron would be romping home, where's it going to come from ?
Personally I'd just settle for a vaguely competent one.
Unfortunately the current Tory party does appear to be obsessed with the gays and Europe.
Dave's greatest strategic blunder was to try and appease the UKIP fifth columnists.
hmmm
not quite sure that's true Mr Eagles.
Mr Cameron's faux pas have more to do with ignoring the bread and butter issues. If you're a gay banker in London this is a great government, unfortunately there are enough of them to win an election.
If Cameron had had his detox by keeping the 50p tax reduction til the next parlt and kicked the crap out of some of the banks he'd be in much better shape. He'd have detoxed on the side of ordinary people rather than his own social circle.
So your criticism of Dave is he didn't go down the easy PR route, but did the right thing, in terms of boosting the economy and raising tax revenues, as cutting the 50p tax rate has increased tax revenues.
actually not at all.
The criticism is if he'd have held the "we're all in this together" line he'd be heading for a majority and the need to raise more taxes would in the medium term decline as a fically sensible government ( assuming he'd sacked Osborne ) would be less of an onus on the rest of us.
Cutting the 50% rate and wittering on about gay 'marriage' whilst attempting to initiate more unpopular and disastrous wars in the Middle East, how to lose an election.
Ed desperate to have some questions from national journalists but, apart from the BBC, they've all come from activists so far. He just asked whether ITN or Sky would like to ask a question but there was no reply.
@MrHarryCole: No questions from Sky or ITV, but it's ok becuase Ed has won over the "Joint Chair, Greater Manchester Against the Bedroom Tax"
Excellent speech from Ed.It is so good to see a leader acting in the national interest and not for base party political advantage over the EU ref.Cameron should have told Farage to eff off.Instead,he wanted to shoot his fox via the referendum and it has not worked leaving Cameron in an impossible position,putting the economy at risk with unnecessary instability.Cameron is a traitor to his country.
It's Miliband that comes from treacherous stock. His own father, despite being a Jew fleeing the Nazis, said he "almost wanted the English to lose the war". Unsurprisingly, his own son wants to sell this country down the river to the Van Rompuys and Hollandes of this world.
Excellent speech from Ed.It is so good to see a leader acting in the national interest and not for base party political advantage over the EU ref.Cameron should have told Farage to eff off.Instead,he wanted to shoot his fox via the referendum and it has not worked leaving Cameron in an impossible position,putting the economy at risk with unnecessary instability.Cameron is a traitor to his country.
You're having a giraffe.
If Cameron hadn't offered a referendum on EU membership, UKIP would be at 30% not 15% and bolstered by a large handful of Conservative defections. Labour would be the first to cry when a UKIP party at that level demolished them in their Midlands (and possibly Northern) seats at just the same time as the SNP demolish them in Scotland.
SNP 30.1% Labour 28.8% Conservatives 21% Lib Dems 19% Others 0.9%
In other words, a photo finish between Labour and the SNP that could be changed depending on the amount of tactical voting or Get Out The Vote campaign by the SNP.
In terms of Scotland's economy and the oil price, no one is listening.
Ofcourse not. Nationalism is a "gut" issue, most people that believe in independence would vote for it even if it made them worse off. Its the same as kippers and Europe, accusing them off wanting to be worse off outside the EU doesn't go very far, being outside the EU overrides all other considerations, in the same way as being outside the UK does for the SNP.
I don't think this is true for all eurosceptics. If the EU was economically and politically beneficial for the UK, I'd support staying in. It's just clearly that the reverse is true. That's why pro-EU people have to make the economic case for the EU on the basis that no other economic agreements would be made to replace membership.
In my case, self-government counts for more than economic considerations.
I think that the economic impact of leaving/remaining within the EU would be marginal, rather than substantial.
Miliband wants to be in the EU not because it's "realistic", but because it removes political power from the English people, who he regards as the wrong type of electorate.
Possibly, but even if that were not the case, because he would be able to introduce labour regulations via Brussels that he wouldn't have the faintest chance of getting through parliament here himself.
SNP 30.1% Labour 28.8% Conservatives 21% Lib Dems 19% Others 0.9%
In other words, a photo finish between Labour and the SNP that could be changed depending on the amount of tactical voting or Get Out The Vote campaign by the SNP.
Maybe the ethnic inhabitants of Walford are happily married, at home, watching Bollywood on sattelite, and going to Walford Mosque rather than the Queen Vic?
The same could be said about the ethnic inhabitants of Midsomer, but that didn't stop Brian True-May getting suspended, its still double standards.
Nick Robinson: Pre-election memo to all parties : when your members laugh at or jeer unwelcome questions from journalists it says more about you than us
SNP 30.1% Labour 28.8% Conservatives 21% Lib Dems 19% Others 0.9%
In other words, a photo finish between Labour and the SNP that could be changed depending on the amount of tactical voting or Get Out The Vote campaign by the SNP.
Regarding pensions, I'm afraid Neil and EiT are absolutely right.
Ultimately, when you are not working, someone else is paying for your life. The nature by which this burden falls on working age people varies, but all retirement is paid for by people of working age.
I am still confused.
The bit I am struggling to understand is that Mr Rich, inherits millions and spends his whole life in a jacuzzi, when he retires he has less money, but in essence continues to live off his wealth, I can't see how someone else is paying for his life.
Mr Busy, works his whole life diligently, he buys physical gold with his spare money and put it in a box, when he retires he starts taking the gold out the box and selling it to pay for his lifestyle. From the point of retirement on I can't see how his life is any different to Mr Rich
Mr Average does pretty much as Mr Busy, but he invests his spare money in Index Linked savings instruments, which he starts to sell off on retirement. Now it start to get a bit hazy for me, is this in any real way different to the circumstances of Mr Rich or Mr Busy ?
Perhaps you can recommend something relevant to read here for the amateur investor.
I'd start with the book I mentioned earlier - Money, The Unauthorised Biography
The key thing to remember here is that money is 'just' a ledger for recording work owed. Someone who saves is someone who lends his money to someone else. That person (the borrower) is someone who says "I want the fruits of work (i.e. money) now, and I wish to repay with the fruits of my work in the future".
All money is is a ledger for determining who has work they still need to do, and who has work owing to them.
To take your Mr Rich, his bank balance is money owed to him by the bank. But it's only wealth to the extent there are people able to convert it back again. If he wishes to have a haircut, and there are no hairdressers left, then that money is worthless. To transfer that money back into something useful - i.e. the fruits of someone's labours - requires someone to want to acquire it (i.e. to defer consumption).
SNP 30.1% Labour 28.8% Conservatives 21% Lib Dems 19% Others 0.9%
In other words, a photo finish between Labour and the SNP that could be changed depending on the amount of tactical voting or Get Out The Vote campaign by the SNP.
Murphy is doing the SLab GE launch at the same time as Miliband's, which is slightly odd. The more cynical might think Saint Jim wants as little attention as is humanly possible paid to Ed north of the border.
Excellent speech from Ed.It is so good to see a leader acting in the national interest and not for base party political advantage over the EU ref.Cameron should have told Farage to eff off.Instead,he wanted to shoot his fox via the referendum and it has not worked leaving Cameron in an impossible position,putting the economy at risk with unnecessary instability.Cameron is a traitor to his country.
You're having a giraffe.
If Cameron hadn't offered a referendum on EU membership, UKIP would be at 30% not 15% and bolstered by a large handful of Conservative defections. Labour would be the first to cry when a UKIP party at that level demolished them in their Midlands (and possibly Northern) seats at just the same time as the SNP demolish them in Scotland.
Remind me of just what electoral advantage Cameron has gained and is likely to gain by his reckless offer of a referendum putting stability at risk and causing chaos in the markets because of the uncertainty? The only thing it has proved is that Cameron is spineless in the face of a bully so weak he could not remove the skin from a rice pudding.
Holyrood magazine @HolyroodDaily 3 mins3 minutes ago Murphy asked if there is any mileage in creating a new logo for Scottish Labour with saltire incorporated.
SNP 30.1% Labour 28.8% Conservatives 21% Lib Dems 19% Others 0.9%
In other words, a photo finish between Labour and the SNP that could be changed depending on the amount of tactical voting or Get Out The Vote campaign by the SNP.
@Mr_Eugenides: We're being asked to entrust the future of our nation to people we wouldn't trust to come back from the shops with the right milk. Again.
What does the book say about inflation and the ever reducing amount of work you'll get back if you keep money in a bank? And what about fiat money and its creation by banks? Sounds quite interesting.
I think one reason so many cultures value gold is that it is, historically, somewhat inflation proof. And it can be hidden from greedy elites. And it is movable and exchangeable internationally.
Nick Robinson: Pre-election memo to all parties : when your members laugh at or jeer unwelcome questions from journalists it says more about you than us
Still smarting at the filleting he got over his questions to Salmond then.
Excellent speech from Ed.It is so good to see a leader acting in the national interest and not for base party political advantage over the EU ref.Cameron should have told Farage to eff off.Instead,he wanted to shoot his fox via the referendum and it has not worked leaving Cameron in an impossible position,putting the economy at risk with unnecessary instability.Cameron is a traitor to his country.
You're having a giraffe.
If Cameron hadn't offered a referendum on EU membership, UKIP would be at 30% not 15% and bolstered by a large handful of Conservative defections. Labour would be the first to cry when a UKIP party at that level demolished them in their Midlands (and possibly Northern) seats at just the same time as the SNP demolish them in Scotland.
Remind me of just what electoral advantage Cameron has gained and is likely to gain by his reckless offer of a referendum putting stability at risk and causing chaos in the markets because of the uncertainty? The only thing it has proved is that Cameron is spineless in the face of a bully so weak he could not remove the skin from a rice pudding.
What one earth are you talking about. The markets know when the referendum is going to be now, and have done for months, and yet the FTSE100 has been within about 200pts of where it is now for the last year, hardly chaos.
The electoral advantage is UKIP doesn't now have 25-30% and cause the Conservatives to lose another 50 seats or so on top of the 30+ seats it will probably cause him to lose at 15%. Its also that he hasnt lost another half a dozen or so MPs from defections that he probably would have without the policy.
SNP 30.1% Labour 28.8% Conservatives 21% Lib Dems 19% Others 0.9%
In other words, a photo finish between Labour and the SNP that could be changed depending on the amount of tactical voting or Get Out The Vote campaign by the SNP.
You rather make my point! What's a tactical unionist voter to do? Is it a two horse race and if so which is the unionist horse to back?
SMAPS has an entirely unrealistic 13.4% national Lib Dem vote for Scotland. If you UNS it down to 10% then Labour become the Unionist favorites in Ed West.
What does the book say about inflation and the ever reducing amount of work you'll get back if you keep money in a bank? And what about fiat money and its creation by banks? Sounds quite interesting.
I think one reason so many cultures value gold is that it is, historically, somewhat inflation proof. And it can be hidden from greedy elites. And it is movable and exchangeable internationally.
Quite a lot, actually :-)
Gold has - of course - been a pretty volatile commodity. If you bought it in late 2011, you would have paid almost $1,900/ounce, and you'd have lost more than a third of your purchasing power.
Likewise, in inflationary 1975 and 976, the gold price halved from around $200 to about $100. And it lost two-thirds of its monetary value, again at a time of relatively high inflation, between early 1980 and mid 1982.
Given it's high underlying volatility, you wouldn't enter into a contract where you're paid in gold.
Holyrood magazine @HolyroodDaily 3 mins3 minutes ago Murphy asked if there is any mileage in creating a new logo for Scottish Labour with saltire incorporated.
I can see that one on the doorstep. "SLab: Same shite policies, but atleast we have a nice new flag"
Murphy is doing the SLab GE launch at the same time as Miliband's, which is slightly odd. The more cynical might think Saint Jim wants as little attention as is humanly possible paid to Ed north of the border.
Alex Massie reckons its part of a plan to keep Ed off the front pages.......
Labour’s line appears to be: “We will spend a lot more money than the Tories. But when the Tories say we will spend a lot more money than them, they are lying”. It’s a line that may provide some false reassurance to the Labour Party. But again, it will not reassure the country. The 2015 general election campaign started today. Britain is still waiting to hear from the Labour Party and its leader.
Murphy is doing the SLab GE launch at the same time as Miliband's, which is slightly odd. The more cynical might think Saint Jim wants as little attention as is humanly possible paid to Ed north of the border.
Alex Massie reckons its part of a plan to keep Ed off the front pages.......
I'm sure the Daily Record will have got the memo, the UK nationals perhaps not so much.
He's a swivel-eyed loon with bonkers views who would've been guaranteed to terrify 9/10ths of the electorate and send parents with young children scurrying for cover. A much less telegenic British politician it would be hard to find since 1945. And I even include Miliband in that.
People like Redwood scare them because they tell them the truth they dont want to hear
I think it's more to do with looking and sounding like a Martian.
SNP 30.1% Labour 28.8% Conservatives 21% Lib Dems 19% Others 0.9%
In other words, a photo finish between Labour and the SNP that could be changed depending on the amount of tactical voting or Get Out The Vote campaign by the SNP.
You rather make my point! What's a tactical unionist voter to do? Is it a two horse race and if so which is the unionist horse to back?
Where the SNP is a viable prospect and If Unionism surmounts all other factors then "Tactical Unionists" should vote for the incumbent Unionist.
Even where all polls show that the incumbent unionist comes from a party which is now less popular than a BBC Three comedy?
Not that I'm complaining if you're correct - I've got a small bet on the Lib Dems at 6/1 in this constituency.
Clearly the Scottish LibDems appears to have been eaten down to the core .... however we're all aware of the yellow peril stickability and the Ashcroft Scottish Polls (ASP) will also give us all a nibble in the correct direction.
Regarding pensions, I'm afraid Neil and EiT are absolutely right.
Ultimately, when you are not working, someone else is paying for your life. The nature by which this burden falls on working age people varies, but all retirement is paid for by people of working age.
I am still confused.
The bit I am struggling to understand is that Mr Rich, inherits millions and spends his whole life in a jacuzzi, when he retires he has less money, but in essence continues to live off his wealth, I can't see how someone else is paying for his life.
Mr Busy, works his whole life diligently, he buys physical gold with his spare money and put it in a box, when he retires he starts taking the gold out the box and selling it to pay for his lifestyle. From the point of retirement on I can't see how his life is any different to Mr Rich
Mr Average does pretty much as Mr Busy, but he invests his spare money in Index Linked savings instruments, which he starts to sell off on retirement. Now it start to get a bit hazy for me, is this in any real way different to the circumstances of Mr Rich or Mr Busy ?
Perhaps you can recommend something relevant to read here for the amateur investor.
People don't have their money in gold or cash. They have it by and large in shares, gilts and real property, and earn dividends from profits made by workers or get paid interest out of tax paid by workers or rent out of wages paid to workers.
That polling confirms that Scrapheap's and mine's Dry but not obsessed with the gays and the EU Tory Party would win a landslide.
so since self evidently the voters don't think we have one or Cameron would be romping home, where's it going to come from ?
Personally I'd just settle for a vaguely competent one.
Unfortunately the current Tory party does appear to be obsessed with the gays and Europe.
Dave's greatest strategic blunder was to try and appease the UKIP fifth columnists.
hmmm
not quite sure that's true Mr Eagles.
Mr Cameron's faux pas have more to do with ignoring the bread and butter issues. If you're a gay banker in London this is a great government, unfortunately there are enough of them to win an election.
If Cameron had had his detox by keeping the 50p tax reduction til the next parlt and kicked the crap out of some of the banks he'd be in much better shape. He'd have detoxed on the side of ordinary people rather than his own social circle.
So your criticism of Dave is he didn't go down the easy PR route, but did the right thing, in terms of boosting the economy and raising tax revenues, as cutting the 50p tax rate has increased tax revenues.
actually not at all.
The criticism is if he'd have held the "we're all in this together" line he'd be heading for a majority and the need to raise more taxes would in the medium term decline as a fically sensible government ( assuming he'd sacked Osborne ) would be less of an onus on the rest of us.
There was an interesting comment on the Sky paper review to the effect that lots of people make up their minds pretty early and don't sway from that.
I think those saying they'll vote Conservative or Lib Dem are unlikely to change, but those saying Labour or UKIP might be more likely to do so. I suspect the SNP will do as well as predicted by the polls. I don't think that tide will recede this side of the election.
Regarding pensions, I'm afraid Neil and EiT are absolutely right.
Ultimately, when you are not working, someone else is paying for your life. The nature by which this burden falls on working age people varies, but all retirement is paid for by people of working age.
I am still confused.
The bit I am struggling to understand is that Mr Rich, inherits millions and spends his whole life in a jacuzzi, when he retires he has less money, but in essence continues to live off his wealth, I can't see how someone else is paying for his life.
Mr Busy, works his whole life diligently, he buys physical gold with his spare money and put it in a box, when he retires he starts taking the gold out the box and selling it to pay for his lifestyle. From the point of retirement on I can't see how his life is any different to Mr Rich
Mr Average does pretty much as Mr Busy, but he invests his spare money in Index Linked savings instruments, which he starts to sell off on retirement. Now it start to get a bit hazy for me, is this in any real way different to the circumstances of Mr Rich or Mr Busy ?
Perhaps you can recommend something relevant to read here for the amateur investor.
People don't have their money in gold or cash. They have it by and large in shares, gilts and real property, and earn dividends from profits made by workers or get paid interest out of tax paid by workers or rent out of wages paid to workers.
I understand that, but in one case the recipient has been contributing their own money through their working life, and in the other, they haven't, the suggestion that this doesn't actually make any difference is slightly blowing my mind, and would I am sure come as a bit of a surprise to people who have been on contributory pension schemes at great expense all their life.
@faisalislam: Clegg says Balls claiming centre ground fiscal credibility a bit like getting "a late night voicemail from an ex saying they have changed"
@faisalislam: Clegg says Balls claiming centre ground fiscal credibility a bit like getting "a late night voicemail from an ex saying they have changed"
@DPJHodges: @MrHarryCole That's circle Labour can't squre. Convincing people Tories are lying about them spending more, whilst pledging to spend more.
@tombradby: On one level this is a load of nonsense, but it is clever politics because we will now have to go to Labour and clarify what is a commitment
There was an interesting comment on the Sky paper review to the effect that lots of people make up their minds pretty early and don't sway from that.
I think those saying they'll vote Conservative or Lib Dem are unlikely to change, but those saying Labour or UKIP might be more likely to do so. I suspect the SNP will do as well as predicted by the polls. I don't think that tide will recede this side of the election.
In 2010 only 47% of voters had decided the way they were going to vote before the election campaign began
@faisalislam: Clegg says Balls claiming centre ground fiscal credibility a bit like getting "a late night voicemail from an ex saying they have changed"
You're gonna vote for this guy??
I'll vote Tory in Sheffield Hallam if you vote Tory in Ilford North.
@faisalislam: Clegg says Balls claiming centre ground fiscal credibility a bit like getting "a late night voicemail from an ex saying they have changed"
On this, I agree with Nick!
Mind you such voicemails sometimes get a sympathy shag...
@faisalislam: Clegg says Balls claiming centre ground fiscal credibility a bit like getting "a late night voicemail from an ex saying they have changed"
You're gonna vote for this guy??
I'll vote Tory in Sheffield Hallam if you vote Tory in Ilford South.
Deal?
No! I'm based in Ilford North!! Ilford South has been a Labour stronghold for decades!
You did notice that I changed the colour of my avatar to "normal" a number of weeks ago?
@faisalislam: Clegg says Balls claiming centre ground fiscal credibility a bit like getting "a late night voicemail from an ex saying they have changed"
You're gonna vote for this guy??
I'll vote Tory in Sheffield Hallam if you vote Tory in Ilford South.
Deal?
No! I'm based in Ilford North!! Ilford South has been a Labour stronghold for decades!
You did notice that I changed the colour of my avatar to "normal" a number of weeks ago?
@faisalislam: Clegg says Balls claiming centre ground fiscal credibility a bit like getting "a late night voicemail from an ex saying they have changed"
You're gonna vote for this guy??
I'll vote Tory in Sheffield Hallam if you vote Tory in Ilford South.
Deal?
No! I'm based in Ilford North!! Ilford South has been a Labour stronghold for decades!
You did notice that I changed the colour of my avatar to "normal" a number of weeks ago?
I changed it to Ilford North.
I did. So you're voting Tory?
Huzzah.
In the end, I think Clegg will defeat Labour pretty clearly (10%+) in Sheffield Hallam. Labour are wasting resources by campaigning hard in that seat.
@faisalislam: Clegg says Balls claiming centre ground fiscal credibility a bit like getting "a late night voicemail from an ex saying they have changed"
You're gonna vote for this guy??
I'll vote Tory in Sheffield Hallam if you vote Tory in Ilford South.
Deal?
No! I'm based in Ilford North!! Ilford South has been a Labour stronghold for decades!
You did notice that I changed the colour of my avatar to "normal" a number of weeks ago?
I changed it to Ilford North.
I did. So you're voting Tory?
Huzzah.
In the end, I think Clegg will defeat Labour pretty clearly (10%+) in Sheffield Hallam. Labour are wasting resources by campaigning hard in that seat.
Indeed, as I wrote last year
There are other seats in Yorkshire that Labour should be focussing their energies upon, such as Dewsbury, Elmet & Rothwell, Calder Valley, Keighley, Pudsey & Bradford East, seats which are more likely to fall to Labour than Sheffield Hallam ,a seat Labour have been in third place since the 80s, and a seat they have never held in its 129 year history, despite being in the People’s Republic of South Yorkshire.
@faisalislam: Clegg says Balls claiming centre ground fiscal credibility a bit like getting "a late night voicemail from an ex saying they have changed"
You're gonna vote for this guy??
I'll vote Tory in Sheffield Hallam if you vote Tory in Ilford South.
Deal?
No! I'm based in Ilford North!! Ilford South has been a Labour stronghold for decades!
You did notice that I changed the colour of my avatar to "normal" a number of weeks ago?
I changed it to Ilford North.
I did. So you're voting Tory?
Huzzah.
Ah, I did see your edit
I'm really not sure at this stage, but I haven't ruled it out!
@faisalislam: Clegg says Balls claiming centre ground fiscal credibility a bit like getting "a late night voicemail from an ex saying they have changed"
You're gonna vote for this guy??
I'll vote Tory in Sheffield Hallam if you vote Tory in Ilford South.
Deal?
No! I'm based in Ilford North!! Ilford South has been a Labour stronghold for decades!
You did notice that I changed the colour of my avatar to "normal" a number of weeks ago?
I changed it to Ilford North.
I did. So you're voting Tory?
Huzzah.
Ah, I did see your edit
I'm really not sure at this stage, but I haven't ruled it out!
Well I have you email address and your mobile phone number.
I'll love bomb you every day until you decide to vote Tory.
Comments
“Unfortunately, the current process set out in the Ministerial Code, where officials carry out costings based on assumptions provided by Special Advisers, is now putting HM Treasury officials in an impossible position.” Letter from Ed Balls, January 4 2015
“The Labour Party is today publishing a factual account of the cost of a Conservative government based on the Conservative Party’s own figures and analysis from publicly available figures, such as costings from HM Treasury.” Dossier issued by Alistair Darling, January 4 2010
http://www.conservativehome.com/leftwatch/2015/01/leftwatch-labours-dossier-hypocrisy-what-they-say-today-and-what-they-published-exactly-five-years-ago.html
Regarding pensions, I'm afraid Neil and EiT are absolutely right.
Ultimately, when you are not working, someone else is paying for your life. The nature by which this burden falls on working age people varies, but all retirement is paid for by people of working age.
It looks very likely SNP will make gains and it is only to be hoped that people do not fall for usual labour guff about how they will look after Scotland, given their 50 year shambles , and vote SNP to give Scotland a real Scottish voice in Westminster rather than a Labour regional lapdog set of donkeys at the trough.
(Japan's utter unwillingness to accept immigrants or to procreate are Japanese problems - not UK ones - and all the money in the world may not be much use to them if there is nobody physically there to care for the elderly. No wonder they are big on healthcare robot research!).
Can I suggest you read Money: The Unauthorised Biography. I don't agree with all of it, but it has certainly moved my thinking on,
The way I look at it, money (and debt/savings) are mechanisms for the time-transfer of work.
http://www.bbc.co.uk/news/uk-politics-30679938
Most of the electorate would much rather elect a plausible fool who sounds good and doesn't threaten their beliefs... which is why they are about to elect Miliband, even the ultra-modest pruning of the state tree was far too much for most people. We constantly hear all this crap about "austerity fatigue" when you would need a magnifying glass to notice the level of cuts made so far.
According to the people who did the research, talk of mass redundancies if Mr Cameron goes for a European exit strategy is just scaremongering.
http://blogs.channel4.com/factcheck/factcheck-what-happens-to-the-economy-if-we-pull-out-of-the-eu/8376
@MrHarryCole: Really taking the fight to Ukip now. Ed: I will never ever leave Europe
Saw the start of the Miliband speech. Voting for Ed Miliband is about as tempting a prospect as a handjob from Edward Scissorhands.
For 2015, the parties need to be focussing on their forward offer.
Edit: I see antifrank made the same point before me
One of the advantages of UKIP is that it makes Cameron look centrist.
Miliband claims British businesses 'recruiting at slave wages'.
But his plan is to only raise the minimum wage by just over inflation ?
The criticism is if he'd have held the "we're all in this together" line he'd be heading for a majority and the need to raise more taxes would in the medium term decline as a fically sensible government ( assuming he'd sacked Osborne ) would be less of an onus on the rest of us.
The bit I am struggling to understand is that Mr Rich, inherits millions and spends his whole life in a jacuzzi, when he retires he has less money, but in essence continues to live off his wealth, I can't see how someone else is paying for his life.
Mr Busy, works his whole life diligently, he buys physical gold with his spare money and put it in a box, when he retires he starts taking the gold out the box and selling it to pay for his lifestyle. From the point of retirement on I can't see how his life is any different to Mr Rich
Mr Average does pretty much as Mr Busy, but he invests his spare money in Index Linked savings instruments, which he starts to sell off on retirement. Now it start to get a bit hazy for me, is this in any real way different to the circumstances of Mr Rich or Mr Busy ?
Perhaps you can recommend something relevant to read here for the amateur investor.
http://www.telegraph.co.uk/news/politics/labour/11324943/Ed-Miliband-risks-sounding-like-a-man-preparing-for-defeat.html
How well did that work for the SNP?
I guess it's the difference between Ron Paul and Rand Paul. Same policies but only one is or will be a realistic contender for President.
@MrHarryCole: "Do I have ITV or Sky?" asks Ed whistefully. *silence* "Maybe not...."
Whether or not you agree with exit, it's absurd to say being outside the EU is not "realistic". Switzerland, Canada, Australia, South Korea and plenty of other highly successful nations are not part of an international political union.
Miliband wants to be in the EU not because it's "realistic", but because it removes political power from the English people, who he regards as the wrong type of electorate.
If Cameron hadn't offered a referendum on EU membership, UKIP would be at 30% not 15% and bolstered by a large handful of Conservative defections. Labour would be the first to cry when a UKIP party at that level demolished them in their Midlands (and possibly Northern) seats at just the same time as the SNP demolish them in Scotland.
SNP: 34%
Lib Dems: 27%
Lab: 21%
Conservatives: 18%
I think that the economic impact of leaving/remaining within the EU would be marginal, rather than substantial.
Put a 1 next to the Tories, 2 next to the Lib Dems and 3 next to Labour.
OH WAIT.
The key thing to remember here is that money is 'just' a ledger for recording work owed. Someone who saves is someone who lends his money to someone else. That person (the borrower) is someone who says "I want the fruits of work (i.e. money) now, and I wish to repay with the fruits of my work in the future".
All money is is a ledger for determining who has work they still need to do, and who has work owing to them.
To take your Mr Rich, his bank balance is money owed to him by the bank. But it's only wealth to the extent there are people able to convert it back again. If he wishes to have a haircut, and there are no hairdressers left, then that money is worthless. To transfer that money back into something useful - i.e. the fruits of someone's labours - requires someone to want to acquire it (i.e. to defer consumption).
This is a bit unkind I'm afraid.
Woman on Sky News in Rotherham says she's 61, Kay Burley says "you don't look it". Unfortunately she looks about 15 years older.
The only thing it has proved is that Cameron is spineless in the face of a bully so weak he could not remove the skin from a rice pudding.
Holyrood magazine @HolyroodDaily 3 mins3 minutes ago
Murphy asked if there is any mileage in creating a new logo for Scottish Labour with saltire incorporated.
Not that I'm complaining if you're correct - I've got a small bet on the Lib Dems at 6/1 in this constituency.
What does the book say about inflation and the ever reducing amount of work you'll get back if you keep money in a bank? And what about fiat money and its creation by banks? Sounds quite interesting.
I think one reason so many cultures value gold is that it is, historically, somewhat inflation proof. And it can be hidden from greedy elites. And it is movable and exchangeable internationally.
The electoral advantage is UKIP doesn't now have 25-30% and cause the Conservatives to lose another 50 seats or so on top of the 30+ seats it will probably cause him to lose at 15%. Its also that he hasnt lost another half a dozen or so MPs from defections that he probably would have without the policy.
Gold has - of course - been a pretty volatile commodity. If you bought it in late 2011, you would have paid almost $1,900/ounce, and you'd have lost more than a third of your purchasing power.
Likewise, in inflationary 1975 and 976, the gold price halved from around $200 to about $100. And it lost two-thirds of its monetary value, again at a time of relatively high inflation, between early 1980 and mid 1982.
Given it's high underlying volatility, you wouldn't enter into a contract where you're paid in gold.
"Thank you Amina and thank you Narveshwar, Claire, Amman, Adrian and Sarah for those amazing stories."
http://labourlist.org/2015/01/labours-plan-puts-working-people-first-read-the-full-text-of-milibands-speech/
I was taught the difference in primary school.....
https://www.youtube.com/watch?v=JA1gBGtOlZU
although he wasn't producing any sound here.
I reckon we're going to have around 200 GB wide polls between now and election day.
Then add in Scotland only and marginal polls
So maybe something of that magnitude, maybe slightly more.
Tory Majority nailed on.
I think those saying they'll vote Conservative or Lib Dem are unlikely to change, but those saying Labour or UKIP might be more likely to do so. I suspect the SNP will do as well as predicted by the polls. I don't think that tide will recede this side of the election.
@faisalislam: Clegg says Balls claiming centre ground fiscal credibility a bit like getting "a late night voicemail from an ex saying they have changed"
http://www.bloomberg.com/energy/
Incidentally I didn't know America had banned exports of oil for many years until last week.
@DPJHodges: @MrHarryCole That's circle Labour can't squre. Convincing people Tories are lying about them spending more, whilst pledging to spend more.
@tombradby: On one level this is a load of nonsense, but it is clever politics because we will now have to go to Labour and clarify what is a commitment
http://www2.politicalbetting.com/index.php/archives/2014/10/07/in-2010-only-47-of-voters-had-decided-the-way-they-were-going-to-vote-before-the-election-campaign-began/
Deal?
http://www.huffingtonpost.co.uk/2015/01/05/east-hampstead-council-philip-drury_n_6415656.html?utm_hp_ref=tw
Mind you such voicemails sometimes get a sympathy shag...
You did notice that I changed the colour of my avatar to "normal" a number of weeks ago?
I did. So you're voting Tory?
Huzzah.
Yep.
I was looking at all the cabs and business vans on my way into work in central London today.
They are getting a 15% reduction in their main overhead, and rising.
There are other seats in Yorkshire that Labour should be focussing their energies upon, such as Dewsbury, Elmet & Rothwell, Calder Valley, Keighley, Pudsey & Bradford East, seats which are more likely to fall to Labour than Sheffield Hallam ,a seat Labour have been in third place since the 80s, and a seat they have never held in its 129 year history, despite being in the People’s Republic of South Yorkshire.
I'm really not sure at this stage, but I haven't ruled it out!
Can the DUP take back East Belfast and can Sinn Fein hold on to Fermanagh and South Tyrone, which they hold by just four votes.
I'll love bomb you every day until you decide to vote Tory.
If this had happened before September 18th the referendum might not have been so close.