NO INTEREST IN HIGH INTEREST

It’s odd the things that Stephanie Flanders overlooks; A B-BBC reader observes;
“Distinct lack of interest from the BBC economic reporters on the record borrowing for February. This gives the lie to Labour’s, and Balls’ claim of ‘cutting too far too fast’.

Shame the BBC cannot bring itself to delve into the figures and shed some light on Balls’ claims…though John Humphrys let slip a non-Party line this morning in a reaction to the debt figures…’Presumably we’ve got to do something about that pretty sharply!’ …presumably not too sharply nor too soon.

If we had record borrowing in February at a time when, as John Humphrys categorises them, we are having ‘enormous cuts’ I imagine if we weren’t cutting we would be borrowing even more.

Remarkably uncommented on by the BBC.

Remarkable as the interest payments on the present debt is nearly £50bn…more than spent on defense or education….borrow more and that interest payment would go up even more…too fast and too far?

Every household pays £1900 per year just to pay off that interest, the full debt burden on every single person in the UK is £14,814 each.

Thanks Gordon, thanks Ed Balls, thanks Ed Miliband….all with their fingerprints on Labours ‘Golden Years’.

Apparently Balls is riding high in the opinion polls….he must have a very good PR team.”

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17 Responses to NO INTEREST IN HIGH INTEREST

  1. Hugh Chadderton says:

    PR is also the acronym for per rectum.

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  2. London Calling says:

    Ed is irrelevant.

    My daily encounter with “Socialists” is they don’t believe there is a deficit, and if there is, its easily solved by additionally taxing the the rich. In Perpetual Adolescence, but mostly at five times the national average wage.

    Apparently its reeealy unfair that law students might have to pay the actual cost of their training, though a QC earns £250,000 a year (are you listening, Cherie)

    Where are our fearless investigative journalists? Why are bus drivers paying tax so these poncy kids can earn a fortune  in the Human Rights industry?

    Silence.

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    • jarwill101 says:

      Zanu Labour doesn’t need a press office when it has the BBC propaganda machine working flat out to smoke over its disgusting 13 year regime. Blair/Brown took us to the brink of irrevocable bankruptcy – another term would have buried us. And yet so many ‘socialists’ still live in an infantilised world in which the money jar is always, magically, full. And the BBC, being a public-funded monstrosity, daily reinforces this destructive myth. Anybody who dares to inject some harsh fiscal reality into the debate is treated like a nasty adult breaking up an indulgent teenage party. The BBC & its adherents really are at that level of adolescent denial. It’s pitiful.
      The very thought of a proven disaster like Ed Balls ever being allowed anywhere near a microphone sends shivers through my wallet. He, like the rest of the Zanu Labour cabal, should be locked in a compound in South Georgia, where they can contemplate their crimes against the British people. And yet the Beeboids can’t wait to get Balls rolling; he’s a permanent fixture, with his strange breathy delivery & his, quite frankly, insane eyes. And the Leftist middle classes, apparently educated, but in reality suffering from arrested intellectual development, buy into all this BBC drivel. I wish we had more steelworks around this country, then instead of gap years & ‘charity’ work overseas, the children of these cloud cuckoo fools could do a year’s work in a steel mill & learn some hard economic facts instead of squealing about being ‘kettled’.

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      • Bupendra Bhakta says:

        Gameshow Nikk on Radio 5 Listeners this a.m. chatted to Balls like they were best mates.  He left the ‘heavy lifting’ to Mi’ey Clarke who ‘ad a pop.’ Unfortunately Mi’ey, nice enough bloke as he is, fights at light-flyweight in the finance stakes – he didn’t know what the FTSE 350 was when asked – and couldn’t lay a glove on Balls.

        For example they let the vile Balls repeat this lie that the North Sea oil ‘windfall’ tax will be clawed back through the forecourts.  Remember that the next time you pull up at a Dana Petroleum garage, or a Premier oil, or Xcite Energy, or Nautical Petroleum pump.

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  3. ltwf1964 says:

    Clueless Stephanie talking Balls

    indeed,she’s on breakfast tv talking utter shite this time  :-D

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  4. NotaSheep says:

    2Apparently Balls is riding high in the opinion polls….he must have a very good PR team.”  he has – the BBC

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  5. Curbishlyauto says:

    Apologies if you have already seen it.

    Louise Bagshawe MP in the Telegraph today.
    http://preview.tinyurl.com/6dlysz5 
    Complaining about the lack of coverage on the Fogel massacre and invites readers to complain to the BBC about their bias.

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  6. Jane Tracy says:

    Stephanie Flanders aka the Flounderer has overlooked many things.

    For example inflation. Many posters on her blog pointed out her complacency about inflation after her saying she saw no signs of it. Of course now it is unarguable she simply implies she knew about it all along….

    She also told us Ireland and Greece would get nowhere near defaulting which has metamorphosed in her mind and her writings to be  correct. Quite how escapes nearly everyone..

    Now she is using her obvious political bias to try to compare George Osbourne with Gordon Brown but she seems to have forgotten any actual facts to back this up.

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    • David Preiser (USA) says:

      Flanders thinks inflation is a good thing because it allows a government to borrow more money cheaply.  Her favorite thing.

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  7. Roland Deschain says:

    Stephanie Flanders has, I believe, a history of letting Mr Balls roll all over her.

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  8. David Preiser (USA) says:

    Flanders mentioned the high borrowing rate in February on her blog the other day.  However, she doesn’t think it’s that big a deal.  The reason for that is – and one can get an idea just from reading her last three or four posts – is that she has always been in favor of even more borrowing and spending.  Once a Keynesian always a Keynesian, just like her old mentor, Larry Summers.

    I saw her state on air the other day that she believes that, due to low interest rates, borrowing even more now will cost the government essentially nothing, so it’s wrong for Boy George not to do it.  There is no independent analysis coming from the BBC economics editor: there is only partisan advocacy.

    Sure, she explains certain details of the situation pretty reasonably on her blog, but then gives her own opinion, which is unfailingly in favor of borrowing and spending more and more and more.

    Both Flanders and Peston need to be removed from their positions at the BBC and should go work as advisors and policy wonks for their favorite Labour politician or far-Left think tank.

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    • Jane Tracy says:

      Speaking of Larry Summers how is the Harvard Pension Fund these days? If I recall correctly his “expertise” involved it losing just under one billion dollars!

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      • David Preiser (USA) says:

        Not so hot, as it happens.  But a bit better than the disasterous year after Summers left.

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        • Jane Tracy says:

          I also remember Stephanie Flanders praising Ireland’s Minister of Finance as ” a good man” just before the Irish banks collapsed…

          Rather than Floundering Flanders perhaps it should be Jonah!

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          • David Preiser (USA) says:

            I didn’t catch that, but I do remember her saying at about the same time that Ireland’s situation wasn’t really as bad as all that and his Government wouldn’t have been feeling the heat if the media hadn’t focused on it so much.

            I might have put a comment here about it at the time.

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  9. Sacha says:

    Just watching Young Person’s Question Time now on iplayer. And I thought the regular show was bad. Socialist tag team George Galloway and Ken Livingstone, Brian Sewell who is off his rocker, a tory and Jo Swinson. And the usual socialist/labour students clapping all the anti war pro tax points on queue.

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