It takes a German to call it like it is. I refer to the comments made by Germany’s finance minister’s on the government’s plans to combat the economic downturn. Peer Steinbruck had criticised the UK’s decision to cut VAT and raise the national debt to record levels. He said Britain’s switch from financial prudence to heavy borrowing was both “crass” and “breathtaking”. The BBC was quick off the proverbial (Deutsch) mark to question the basis for any German politician daring to question Brown’s judgement (Hello Number 10 rebuttal squad!) with Pesto wheeled on to Today to offer sympathy and excuses to the Great Leader. Draconian Keynsianism is about the best description I have heard of what Brown and the comrades are up to – either that or cloaked communism or stealth socialism.
boy, the beeboids are earning their corn on this one ! All the usual stunts, pull out a spurious ‘police reduce crime’ statistic story to lead Toady with, then slip in a reference to the nasty German sdp type dissing the Dear Leader, half way through the news section. Then some cutting analysis ‘by a source close to the treasury’, saying no really, he saved the world !!!!
Pretty pitiful.
Peston’s face was very similar to Caroline Lucas’ during the now-famous interview by Peter Sissons. How very DARE someone express an alternative view! There is no alternative view. There can be no argument.
Irwin Stelzer (not sure of spelling) in today’s Telegraph gives Brown a great mauling, cuts him down for the liar he is.
Peston really is in his element in the pantomime season–Incidentally if the pound has collapsed under a Tory goverment could you imagine the BBC not mentioning international loss of confidence in a Tory administration. I sense our Glorious Leader is not as popular in foreign parts as Aunty Beeb imagines. WHERE IS THE FEELGOOD FACTOR PROMISED BY DARLING?
Mr Buxton
That article by Irwin Stelzer is here: http://www.telegraph.co.uk/comment/personal-view/3703785/Gordon-Brown-must-blame-himself-not-the-USA.html
…IMO, it’s unlikely that any American who knows Britain well will find any surprises in the article, but many Brits will.
Britain’s biggest invisible elephant is the public sector. The coming bust-up with the private sector will likely be triggered when disparities in pension entitlements come to a head; private-sector workers have been royally and comprehensively screwed for decades, and public-sector workers won’t give up without a struggle.
You can be confident the usual BBC suspects, who benefit directly from the status quo, will continue to avoid the issue.
Which is one reason there’s a good chance of another civil war in your future.
Backwoodsman
That knife crime story isn’t spurious, it’s very interesting – chiefly because it undermines another great BBC myth/lie, that stop-and-search doesn’t work or even causes knife crime (Er, how? I mean, how, outside a lecture hall full of criminologists?)
The Coppersblog post today on it is very funny – and it’s not like the cop blogs haven’t been saying for a very long time that stop-search is extremely useful.
On the Germans, I loved Peston on the Toady prog this morning – ‘lots of very sensible economists’ think Gordon’s doing the right thing, whereas lots of ‘ordinary people’ are ‘confused’. I guess the head of Hun finance is ‘ordinary’.
That’s the BBC line: if you’re with Gordon you are ‘a very sensible economist’. If you’re agin him, you’re ‘confused.’
Strangely, it’s also the Labour Party line.
Keynes’s ‘Keynesianism’ is a significant economic analysis; by modern standards he was quite cautious in the scale of fiscal stimulus which would be advisable in reducing the effects of recession; there is no ideological reason why the Tories should oppose Keynesianism outright.
The scale, composition and unilateral aspects of fiscal expansion can certainly be criticised; it’s surprising that no U.K. political party is advocating a fiscal boost for manufacturing sector, which has been overshadowed by the economically vulnerable financial sector in the U.K.
Anonymous was me {3:07 pm above}.
Derek Buxton 10:40
Don’t take Stelzer too seriously. He was a supporter of Brown and advisor for many years. A case of “hell hath no fury …..” !
Chuffer | 11.12.08 – 9:10 am |
Saw Peston on BBC World last night (about 6:00 am UK time).
He did his contorting face trick again, raising his voice in incredulity that some jumped up little Kraut, who clearly knew next to nothing about economics and internation finance, should utter such blasphemies against liar Brown.
Clearly Balls had rung the BBC and they were pulling out all the stops.
BBC not biased? Oh please.
http://news.bbc.co.uk/1/hi/uk_politics/7777713.stm
Seems like the Irish Government doesn’t know the meaning of “NO”
How inconsiderate of the electorate not to vote the way their betters tell them! Us next by the way –but I doubt we will get a vote, I predict Mandy will join for us -using this terrible finacial crisis as an excuse.
Oy TPO –leave my lad alone or I’ll nationalise this blog!!
The last section of this article actively defends the government by pointing out how Germany is doing this and other countries are doing that. This is explicitly carrying government water here, something the BBC is not supposed to do. Of course, this is also evidence of the influence from the BBC business editor. This last section matches exactly what said business editor babbled about on Today.
It would be one thing if they got a quote from Darling to that effect, or even attributed it to a “source close to”, etc. But it’s blatant bias when the Beeboids take it upon themselves to defend Mr. Brown’s position in a straight article.
I also like how Today – in the opening news segment – rephrases Steinbruck’s words into “a breathtaking change in policy.” Yeah. Then Justin Webb tells a lie about what would happen if the three auto behemoths don’t get their bailout billions (Chapter 11 bankruptcy and restructuring allows companies to operate after a fashion and can either emerge stronger or get spun off into different chunks – the whole thing doesn’t collapse like a company with no assets), and Humphry eats it up.
Johnny Diamond says that the Irish “cruelly rejected” the Lisbon Treaty.
Then we have Robert Peston defending Mr. Brown, and goes through his usual rambling, not completing a sentence until he’s satisfied that there’s enough distance between what Steinbruck actually said and what he wants everyone to believe is true. Yes, Robert, I bet some people are confused by what you just said. I know I was, but not for the reasons you think.
I know live broadcasting isn’t as easy as it sounds, and spontaneous intelligent commentary is hard to do. But Peston has had coaching for months now, and he still can’t speak in complete sentences.
Sorry, the Anonymous above is me. Norton just screwed up my cookies.
And we all know how painful that can be.
either that or cloaked communism or stealth socialism.
I would like to define these terms in a form that I hope makes sense to people. As clearly many are understandably very confused these days.
In the context in which we live. Which is a world controlled by real or imaginary/created MONEY. Where all the real power is most surly and forever in the hands of a very small elite of extremely rich and powerful individuals. Most of which the public have never heard of. Who effectively own all of the multi-national companies including the worlds banking and political systems.
The terms SOCIALISM and Communism in reality means one thing, and that thing can only be FASCISM, ideologically and spiritually connected to NAZISM.
The details of which and what exactly it all means in practice for you and me in the future, is debatable. Although the signs are not good and the history of these types of things is extremely bad, as we all know.
Big planned or otherwise social, political or economic changes need big finance. Which is one reason why the middle classes are currently being robbed blind yet again.
This is, to quote the words of Gordon Brown.
“the biggest change in the worlds economy since the industrial revolution.” When describing to the CBI what he called, not me, THE NEW WORLD ORDER.
Please note; he did not say ” either of the last two world wars.” which should worry everyone.
All real Money comes from the same BANKING SYSTEM. Without which the first and second world wars could only have lasted a few weeks at most. If the above was not the case both wars would not have happened, because they could not have happened.
Not even the worlds British banking system can afford to back only one side. The temptation therefore of the establishment and their banking system to promote armed conflict is overwhelming. Especially as they NOW own the entire worlds arms industries. Also when they deliberately get themselves into a ‘sticky’ situation, in order to inflict a New World Order on to the people, against their common will or interests.
Really big, top level conspiracies like this one, have an important trick up their sleeve. Which prevents the vast majority of the co-conspirators, never mind the great unwashed, from really knowing where their dishonesty is all leading to. Apart from a healthy bank balance for themselves.
THE LIE IS DIFFERENT AT EVERY LEVEL. Clever or what?
Which means not even Gordon Brown, David Cameron or the BBC and least of all their respective MP’s and employees have any real idea which type or form of ultimate EVIL may be hiding its real agenda.
They also don’t know, which one of them the establishment will select to get elected prime minister next time. Or exactly what they will be forced to do, if they are.
All Brown, Cameron and Clegg obviously know, is how to manipulate their MP’s, and lie a lot. While systematically if not religiously ignoring their electorates common wishes or short or long term interests.
It is very possible that no more then 10 people living on this entire planet actually have a clear idea what exactly is going on. So please don’t feel lonely on this one, you are therefore in a very large amount of highly intelligent, and well read company.
Such is the nature of long term ideologically based, BBC and educational establishment indoctrinated, FASCIST style brainwashing. Where the truth, if it is ever told at all, is cleverly hidden or buried in ideologically based dialectic clap trap, or cruel lies and dis information.
It is my hope that eventually some of you lot will start understanding something for a change, in stead of being unwitting victims to BBC, and other forms of establishment mind control. If not, at least I tried.
Sorry Lord Peston (Lab), here’s more on your lad:
‘….In November, BBC business editor Robert Peston was accused of being an ‘instrument of the Treasury’ over the proposed takeover of HBOS by Lloyds TSB.
Sir George Mathewson, the former chief executive of the Royal Bank of Scotland, said that Peston, was ‘not working as an independent reporter’ and branded Peston’s relationship with the Treasury as ‘disgraceful’.
The BBC man was the first to report the Lloyds TSB bid for HBOS on his blog.
Peston was also the first journalist to report that Northern Rock was in financial trouble and that the Treasury had an emergency plan to pump £50 billion into Britain’s ailing banks – information known to few outside of the Treasury and which led share prices to plunge.
Before becoming BBC business editor, Peston published a biography of Gordon Brown, entitled Brown’s Britain. The fly cover of the book describes how ‘Peston was given unprecedented access to Gordon Brown and his friends and colleagues’
http://www.dailymail.co.uk/news/article-1093854/Now-police-called-probe-Treasury-leaks-says-civil-servant.html
Peston has that Richard Nixon ‘5 o’clock’ shadow about him.
BBC not biased. Ha ha.
Only the rent boys at the BBC could spin the fact the pound is going down the toilet pan against the dollar and euro as ‘good news’
As a matter of interest. My wife used to pass the time of day with a friend from the FSA whilst they waited for the commuter train.
We knew in November 2006 that HBOS was going to go belly up. The treasury had known since mid 2005 that there were serious problems there.
Pity Peston couldn’t have done a real journalists job and revealed that instead of relying on labour spin and leaks to polish the collective turds in what laughably passes for government these days.
Each time i’ve heard this story reported on the Auntie, (several times bewteen last night and this morning) the sign off to the story has been loud and clear: “the line being taken by the German Finance minster is not one with which the rest of Europe is in agreement”. Really? How do they know? Has the beeb called every treasury department to for an official statement?
Rob: The BBC just look up Gordon’s bottom for their ‘facts’
Here’s the BBC’s currency tables:
http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/currency/11/11633/intraday.stm
It’s there for all to see. The Pound is going down the toilet but Peston et al are still spinning for Gordon
The German Minister of Finance represents a country which had the Weimar ‘experience’ so he clearly knows something about sound currency. He also represents a country which sees value in maintaining industry and which, as a result, has a strong trade surplus. The UK has Gordon Brown, and he understands how to wreck an economy.
The BBC queries Herr Steinbruck in the same manner as any scientist who favours the MMGW theory is “reputable” i.e. those who disagree are disreputable. Now the same ploy is being used for those who question Gordon’s criminal mistreatment of the UK’s ecomomy.
So the £’s decline is good news for exporters. Who are they? we wonder. BBC1 News finds the man who exports used taxis in penny numbers. Not quite germen scale then.
We have a huge trade deficit and the world crisis won’t help –the weak pound is no real consolation as huge amounts of our taxable income is from foreign investment. They ain’t interested in UK PLC anymore
BBC News at 6 now spinning that a weak currency is a good thing. The BBC are all over the place on this one. Even saying on some exchanges the pound is almost on parity with the Euro. No prizes for guessing the obvious conclusion. I don’t know whether to laugh or cry.
Allan Oslo 5:47
Excellent point ! The Germans know a bit about economic depressions and inflation. They are not stupid. But, in the Beeboids eyes they committed the ultimate crime of invading “Mother Russia” !
I’m trying to sell my old combine harvester at the moment, and the dealer, who exports to mainland Europe keeps ringing up with higher offers every other day!
And my wheat has shot up by six squid a ton this week.
And then there’s my subsidy cheque, paid in Euros – let’s hope the rate stays as it is till next September, when the Ministry converts it to Sterling.
First cheerful farming news for months. Can’t wait for Peston to ring me up.
Chuffer | 11.12.08 – 6:54 pm |
Better hurry up and get that thing sold, before France and Belgium start shifting their subsidy cash to their own “fiscal stimulation” schemes.
Don’t expect the BBC to tell you about it, though. If Peston calls you, don’t talk to him. He’ll just use you as proof of how Mr. Brown planned deliberately to help domestic production by devaluing the pound.
ITN news at 6.30 reported that the German Chancellor Angela Merkel had given her full backing to the German politician and his criticism of Brown’s economic plans. In fact she went much further, a more damning criticism of Brown I have seldom heard of. This is utterly ignored by the BBC of course — who are still spinning the government’s knife crime statistics, even though they have been shown to be highly selective worthless spin.
and lets face it – the germans know a thing or too about depressions and hyperinflation…
if ANY german tut tuts an economic policy , my ears prick up big time…
If Peston turns up, I’ll affix the 60lb Belgian Shepherd Dog to his todger and say:
“There you are, Mr Peston. You can scream without affected pauses; now TALK that way!”
AS we expected the BBC is completely unable to present the real truth about the economy and has tried to spin the German criticism of “I saved the galaxy” away.
Could be a very dangerous mistake on it’s part. The economy is not like some abstract lib,left debating motion but affects all our lives and is ultimately about our daily bread and our shelter at night.
Even the dullest of viewers and listeners might take real offence when they realise they have been lied to and deliberately deceived.
The Tories have the same economic views as Brown. They too believe you don’t need a manufacturing industry, indeed it was Thatcher who phased out British manufacturing.
Harsh truth is that the Tories, like Brown, would have been seduced by the vast sums of money from the City.
Just heard that the Americans have kicked our the carmakers’ “fiscal stimulus” (aka as a bailout). Turning up with the begging bowl in a private jet was not the way to get good PR!
Wonder how the BBC will spin this belated example of commonsense.
The Tories have the same economic views as Brown. They too believe you don’t need a manufacturing industry, indeed it was Thatcher who phased out British manufacturing.
Harsh truth is that the Tories, like Brown, would have been seduced by the vast sums of money from the City.
Truth is much of manufacturing was nationalised which killed it dead. Spanish practices and bad management left our manufacturing firms in the stone age (British Steel, British Leyland etc)
Thatcher believed in Adam Smith principles of free market competition which means that we as taxpayers weren’t paying for failing industries.
If you want we could go back to the 70s with massive nationalised ineffeciencies, but instead we do have an enormous number of small engineering, furniture, car firms etc which employ millions of people- I should know as I am in one.
The Tories wouldn’t have removed the overseeing duties of the BOE over the financial services in 1997, and there has never been a near run on the banks until this government.
Brown had no choice in his bailout, the banks had him by the nuts. Can you imagine if the banks had gone into freefall?
Don’t take Stelzer too seriously.
He tends to be arrogant, fussy and prissy — he’s an economist — but that doesn’t mean he’s wrong here.
voice any opinion you want and then find an economist who agrees with it –they know bugger all
I wish that I had received a quid for every time I read of an economist saying that we don’t need industry and that trade deficits are irrelevant. Unlike Brown, whose stewardship of the economy has been criminal, these economists actually believed what they said and wrote. They should be dismissed from any positions of power and influence, and their breeding grounds such as the LSE and all other faculties in our university system should be closed. There is one party which would probably make this dream come true.