BBC coverage of the G8 Camp David Summit is as predictable as ever and riven by anti-British bias. The BBC have adopted the line that Hollande and his exciting “growth” plans have synched with Obama and isolated Cameron. And maybe Merkel. Funny how you never hear the BBC report on this little detail.
US National Debt 2008 $10,699, 804,612, 604
US National Debt 2012 $15,125, 898,976, 397
Obama speaking in 2008 ”We will cut the debt in half by the end of my first term.”
Still, just a detail. Now back to pushing the helpful to Labour “Obama/Hollande” axis of growth…
Yes, I noticed their elevating the Holy, the Redeemer and Man Upstairs Mr Hollande to almost divine status last night. The BBC just don’t bloody-well get it. Their (and thus all socialists) economic theorem is thus: scrounge money off wealth-makers as if you were doing them a favour then moan a lot about the greed of enterprising wealth-makers; next, cross your fingers and hope for something to fall from the sky; and, finally, sit there looking dumbfounded and incredulous when it inevitably goes pear shaped and blame the right wing capitalists.
This made me laugh
For Hollande: it’s 5 to midnight in E.U.
(P.S. the face of your watch is on the other side of your wrist.)
Labour / B-bBC keep telling us that getting into debt is the only way to go.
But who benefits when the country goes into debt?
Who benefits when a household goes into debt?
Yep – the very same bankers and capitalists they are so keen to demonise and blame everything on.
Joined up thinking – not.
That 2012 US National Debt figure is identical to the number of times CRAPITA have written to me inviting my television to buy a TV licence.
Spooky !
If I was the leader of the US I would forget trying to reduce the deficit and national debt, it’s all but a hopeless cause. I would just focus on building up a military and waiting for China to come get it’s money back. Might is right.
Listening to Monatgue on PM yesterday (and to be honest, any BBC coverage of this topic since Hollande was anointed by Broadcasting House) it was pitched as ‘growth’ vs austerity, as though they are mutually exclusive. They also avoid mentioning that what they mean by ‘growth’ is more public spending – in which case, pitch the argument as more public spending vs less. But that would require honesty and an admission that Labour are effectively advocating more of the same policies that got us into this fine mess. Not only is this dishonest broadcasting, it’s bloody irresponsible.
However, having said all that, getting the West deeper and deeper into the mire and the resultant collapse of our economies, de-industrialisation etc. fits the anti-capitalist leftist agenda, leaving us on a par with all the other basket case countries of the world (social justice – tick) – such as those who are already being compensated for our catastrophic warming of the planet.
Yes, they assume that more public spending=growth. Unfortunately, as demonstrated by the Tullett Prebon report I have posted in the link below, the growth returns on public spending (borrowing) is minimal. (see figure 7)
Click to access Tim_Morgan_Report_007.pdf
Therefore the whole BBC paradigm is based on tenuous premises. They also fail to acknowledge or give David Cameron credit for vetoing the EU’s “Austerity Treaty” towards the end of last year. This would have enshrined in law much more severe austerity. The BBC also ignore the fact that Britain’s deficit reduction plan is still, under Hollande, very similar to that of France. Furthermore, there is never any real criticism of Labours “Growth plan”, just an unspoken assumption at it will bring growth.
& spending is apparently higher now than under Labour:
http://www.dailymail.co.uk/news/article-2146571/Cuts-What-cuts-Ignore-BBC-Left-public-spending-HIGHER-Labour.html
Another Good report:
Click to access TPSN%20039_blowing%20the%20whistle%20on%20UK%20austerity_FINAL.pdf
Not surprising really when you inherit a large structural deficit, debt interest payments of £50bn p.a., most new jobs being mopped up by immigrants, a welfare system out of control, an inefficient health system leaking billions a year, public sector salaries, pensions and working practices out of touch with reality and PFIs costing further hundreds of billions. It’s not the sort of thing you get under control overnight.
Good report. These are the figures which should be drummed into everybody’s head, including kids old enough to understand basic maths. I remember Geoff Randall when he wrote for the Telegraph kept banging on about the massive scale of combined government and private debt and it would all end in tears, and that was before the crash.
Meanwhile back in the UK…
When the Coalition took over, it stood at a stonking £1,002 billion. By the time of the next election, it will have risen to an unbelievable £1,613 billion.
Original Article at Witterings from Witney http://witteringsfromwitney.com/
When were the French taken off the US list of “cheese eating surrender monkey” nations of 2003?
Both these great nations of France and the USA surely deserve better than the callow pigmies, that have their hands on the floppy levers of control.
Rumsfeld was right about New Europe as opposed to Old.
Old Europe still has its head up its own arse, and hoping that it will never have to pay for years of endemic incompetence and corruption.
Which is why Blair is always in a plane and Brown can`t be found by his CPN.
When the public sector BBC advocate shoveling more money into the public sector that IS a solution for them – they could not give a **** about anybody else – which is public sector unions and Labour MP’s in a nutshell.
This is why they are desperate to assemble a coalition of opposites (Muslims and gays, the unemployed and supporters of a high minimum wage, the unskilled and disenfranchised, and the multiculturalist teachers who facilitated this by urging them to reject Western culture [indeed any assertion of standards] because it is elitist and discriminatory) because there is no principle underlying their philosophy except the naked greed of narcissistic nihilists who would never dream of looking after their aged parents when they are alive, but are there first thing when it is time to read the Will – or even better why not better redistribute what they can steal from the dead (and unborn) back to themselves via the theft of the State.
Well said Wild.
All that unites them is guilt-ridden self loathing of their privileged caste-but not enough to actually deny them a top seat at the trough, as they swap notes on the poor. Endlessly fascinated by them, but-again-as long as they`re research projects, victims of Big Oil..and ultimately no threat to their OWN lifestyles as spent at the public trough as wristband sponges, spouting cheridee and virtue.
These scum however play footsie with Islam, and think the flirting will save them-after all those dark romantics with their letter openers do great poetry.
Well fine-send them with their art projects to Jeddah and Rawalpindi by all means…but I hope Islam doesnthink for a minute that we`re as craven, spiritually sick and stupid as these Libleftliberals who think they`re Lawrence of Arabias, but are Larry the Lambs…halal and fit for the kebabbing.
‘we can’t keep kicking the can down the road’ Mr Cameron said yesterday.
See this little package: http://www.youtube.com/watch?v=LKsZ1hqHBHU&feature=related
I know it’s dated December 2011 so it might not seem totally up to date but it does show
that the finance world were well aware of the dangers. Much has changed since.
Things are worse in spite of ‘kicking the can down the road’.
Back door bazooka, quatitative easing, toxic bonds, increase in interest rates, austerity, unsustainable
government debt, many more but don’t forget unemployment, the dreaded run on the banks that have no liquid assets left, and the final insult: printing money.
Still, the gang at the G8 don’t seem to know what to do, otherwise the problem would be solved.
Is it that the solution is so dire and unacceptable to the countries of Europe that a different way must be found.
It seems that the one thing the EU wants above all else is ‘fiscal intergration’.
No, not just the Euro-zone, all members in the EU. Polital union, end of sovereign states.
It is the ‘project’ of the EU, the love-child of all the extreme left-wing nutters and Marxists that infest the
inner sanctums of power.
European Union, you know like the one the world got rid of not so long ago: Union of Soviet Socialist Republics.
Europe is just a few speeches away from the dictatorship of the unelected EU Central Committee.
Lisbon Treaty remember that?
About the euro, and global warming, it turns out the ‘thought criminals’ were right – http://www.telegraph.co.uk/comment/9277302/About-the-euro-and-global-warming-it-turns-out-the-thought-criminals-were-right.html
‘The BBC’s North America editor, Mark Mardell, says there are caveats but the first line of the communique – about promoting growth and jobs – means Presidents Obama and Hollande have won the day.
However, it is not clear that Mrs Merkel has got their message.’ – http://www.bbc.co.uk/news/world-us-canada-18133878
The implication seems to be that Frau Merkel would agree about the need for greater public sector spending if only she could understand the compelling arguments in favour of it…
How patronisng and presumptuous can you get?
Jeff
Mardell is a Socialist. He was fairly obvious about it when he was Europe editor, especially during his coverage of the last MEP elections. More recently he was visibly and audibly angry on air after the President failed to get His massive spending plan passed last year and instead we got that abomination of a budget-cutting agreement was unmistakable.
I wish there was a way to request footage from the BBC.
More recently he was visibly and audibly angry on air after the President failed to get His massive spending plan passed last year and instead we got that abomination of a budget-cutting agreement was unmistakable.
The attachment says it all, really…
Jeff
The attachment didn’t work – you can view it in the first post at this link: http://www.sharescene.com/index.php?showtopic=15000&st=0&p=787950&#entry787950
Jeff
To be fair to the idiot he said he would reduce the deficit and not the total debt in half. Now of course he failed at that. See below.
Everything has gotten worse under Him because of His and the Democrat Congress’s policies during His first two years in office. Since then the Republicans haven’t been strong enough to get much useful past the Democrat-controlled Senate, either.
Candidate Obamessiah also promised to create 7,000,000 jobs in “green energy” and construction. You can’t blame the economy for His failure to do that since He was always going to do it by printing money and spending it. Unfortunately He’s so far thrown at least $6 billion down the Green toilet. I say at least because now LightSquared is bankrupt, and I didn’t count the $267 government loan they got is included last time I ran the numbers.
As for construction, He was going to take a page out of Gordon Brown’s playbook and do an equivalent of PFIs, also payed for by government debt.
Kick back, grab a drink and some popcorn and watch the slow-motion car crash that is Europe, and all in HD.
just remember all the people that steered us into it after the dust settles.
Peter Hitchens:
“Why defeat an evil empire – and then embrace a stupid one?”
Read more: http://www.dailymail.co.uk/debate/article-2146903/Why-defeat-evil-empire–embrace-stupid-one.html#ixzz1vOOa7OW2
BBC-NUJ seems to be unable to connect actual economic developments, such as the following, to economic growth in Britain:
1.) Vauxhall:
“General Motors to keep Vauxhall Ellesmere Port factory open.
“General Motors has delivered a significant economic boost to the UK by announcing that it is keeping its Vauxhall plant at Ellesmere Port and saving 2,100 jobs.”
http://www.telegraph.co.uk/finance/newsbysector/industry/9270822/General-Motors-to-keep-Vauxhall-Ellesmere-Port-factory-open.html
2.) Jaguar Land Rover:
“Jaguar Land Rover to invest £200m in F-Type factory at Castle Bromwich.
“Up to 1,000 jobs are set to be created in the Midlands by a drive to revitalise one of Britain’s most historic brands, Jaguar. ”
http://www.telegraph.co.uk/finance/newsbysector/transport/9241937/Jaguar-Land-Rover-to-invest-200m-in-F-Type-factory-at-Castle-Bromwich.html
But it seems it’s only increases in PUBLIC spending on the PUBLIC sector via more PUBLIC sector borrowing which counts as ‘growth’ to BBC-NUJ-Labour.
Two accounts of the G8 summit below. You would hardly believe it was the same meeting.
and
<a href="http://www.huffingtonpost.co.uk/2012/05/19/g8-summit-world-leaders-eurozone_n_1529904.html?ref=uk".
Two accounts of the G8 summit below. You would hardly believe it was the same meeting.
and
Made right mess of this posting!
Two accounts of the G8 summit below. You would hardly believe it was the same meeting.
http://www.bbc.co.uk/news/world-us-canada-18135042
and
http://www.huffingtonpost.co.uk/2012/05/19/g8-summit-world-leaders-eurozone_n_1529904.html?ref=uk
Would BBC-NUJ-Labour support growth in private and public spending in UK on fracking for shale gas?
Fracking is going to out to be a massive missed opportunity for Europe. The alarmist ‘campaigning’ headlines forced on us by the BBC against it will have long term impact on its adoption.
Meanwhile the US is going for it and significantly reducing the cost of it’s energy. Low cost energy is just what Europe could do with, but will we get it?
The sloppiness in their thinking is reflected in the sloppiness of in their dress.
When Merckel met Hollande, I now recall Martha Kearney worrying about the lack of a Merkozy consensus as a problem for the Euro to her Berlin correspondent.
The well known new name for Merkel/Hollande..”Merde”-was notably not emntioned, although it was already common knowledge.
Sense the BBC would rather we have a mature and grown up debate for now…until Hollande pointedly refuses to shake Camerons hand, and then we`ll be returned to the Beebs Bunfight as usual.
For now though-solemnity in socialism please!