Re: The Prime Minister in waiting, Sir Kier Starmer.
Quote:
Originally Posted by
SLUDGE FACTORY
Monmouth ?
Ironic you should say that another Tory hotspot, or should I just say new Welsh Labour hotspot….:thumbup:
The new Tories, I love it, so apt, exactly what they are. And don’t get me wrong the current lot in Westminster have to go, they are as deluded as the w anchors we have here in Cardiff bay.
Re: The Prime Minister in waiting, Sir Kier Starmer.
Quote:
Originally Posted by
goats
Ironic you should say that another Tory hotspot, or should I just say new Welsh Labour hotspot….:thumbup:
The new Tories, I love it, so apt, exactly what they are. And don’t get me wrong the current lot in Westminster have to go, they are as deluded as the w anchors we have here in Cardiff bay.
I wasn't being ironic , I was taking the piss
Monmouth is about as tory as Wales gets
Re: The Prime Minister in waiting, Sir Kier Starmer.
Quote:
Originally Posted by
Keyser Soze
Most modern economics is done based on “fag packet” assumptions. Examples:
1. Gordon Brown: We’ll borrow to “invest” (Brown code language for “current spend”) on the assumption of “Growth”. Growth which never matched his predictions post 2005, hence the debt spiral.
2. Starmer’s assumptions is also supposing “growth” at assumed levels. Those levels are untested and impossible to know. So we should base them on a GDP level less than current, to be cautious. Any upside is a gain. This is just basic, prudent, financial planning assumptions
3. The OBR and Treasury equally make such assumptions on growth. 40-50% of the time they are crap, and based on crude linear analysis, which any baboon armed with a spreadsheet and a GCSE could knock up.
4. Liz Truss was all about changing direction and making mostly Laffer Curve assumptions on corporation tax rates, which again are unknowable. Keynesians say Laffer Curve theory is rubbish, because they have a natural envy of tax cuts on high earners. It is political. Laffer Curve proponents (such as Patrick Minford) argue that it will work, because it worked under Reagan and Thatcher. But that was because corporation tax rates were coming down from an egregiously, evil, glutenous, and envious 1970s high level set by Wilson, Heath and Callaghan - it stimulated inward investment and creates a broader tax base.
Truss’s idea would have likely failed, but not because of Keynesians were right, and not because Minford’ is wrong. Empirical analysis (free of doctrine/ideology) shows that The Laffer Curve does work, but only at a certain point in the cycle (recession or post-recession) and only when pulling it down from much higher corporation tax rate bounds. That has been statistically proven, althought the IFS and BBC still preach the same outdated guff. At the time, as it now, it would not work because the tax rates are already low, and Ireland is already a tax competitor. The marginal gains would be questionable
I think you'll find Minford has the same standing as Rogoff. You're clearly not having a very good day.
Have you ever met Minford? I have.
Re: The Prime Minister in waiting, Sir Kier Starmer.
Quote:
Originally Posted by
SLUDGE FACTORY
I wasn't being ironic , I was taking the piss
Monmouth is about as tory as Wales gets
I know you were, so was I.
Re: The Prime Minister in waiting, Sir Kier Starmer.
He won't last long the unions and Corbinites will be looking to take over once they are in, and it will be worse than the Tories with the right when trying to resolve Brexit.
Re: The Prime Minister in waiting, Sir Kier Starmer.
Quote:
Originally Posted by
North Cardiff Blue
He won't last long the unions and Corbinites will be looking to take over once they are in, and it will be worse than the Tories with the right when trying to resolve Brexit.
You are a desperate man
You are going to get hammered on July 4th
