Much as I despise UKIP, I believe in giving credit where it is due. Its leader Nigel Farage has had the decency to point out that a Conservative government led by Margaret Thatcher closed many grammar schools.
He also notes that his party has correctly predicted the threat of opening our borders to yet more countries in eastern Europe:
I remember during the Eastleigh by-election when our
candidate Diane James mentioned the risk of criminal gangs from these
two countries.
She was attacked and had all
kinds of names thrown at her including by the editor of the main local
newspaper who wrote he would not going to devote any more time to her
campaign.
UKIP is not however opposed to immigration, and also it has never said a kind word about any political party that is. Pot, kettle, black.
Visit this link for more comments about UKIP.
Friday, 15 November 2013
Tuesday, 12 November 2013
The exaggerated threat of deflation
Some commentators are warning of a possible deflation in the American economy in the coming year.
Before I continue, please take slightly less than nine minutes to watch this video:
It is hard to be precise about the effects of deflation because it very rarely occurs. In fact, I am not sure that Britain has ever experienced deflation - or at least not across the whole economy.
Let me repeat what I said in an earlier post:
Inflation is a trend rise in prices over a period of time, and also the decline in the value of money over the same period of time ... It is impossible to calculate the rate of inflation exactly, as we have to make assumptions which are not necessarily correct.
Likewise, deflation is a trend fall in prices over a period of time, and also the increase in the value of money over the same period of time. It is impossible to calculate the rate of deflation exactly, as we have to make assumptions which are not necessarily correct.
Deflation in the USA has been linked to high levels of unemployment, but periods of inflation in many countries have been linked to economic misery.
The belief that deflation discourages people from buying is at best an exaggeration. As it happens we can see deflation at work in some sectors of the economy, and it certainly does not discourage people from spending their money. The latest computer game might cost thirty pounds on the day of its release, fifteen pounds six months later, and six pounds two years down the line - and yet sales are almost certainly going to be highest when it costs the most.
Many economists seem to think that inflation does not matter much if it is at a very low level, and yet we are expected to believe that deflation would be a disaster even at a very modest level.
The argument that deflation harms people with mortgages seems also to be at best an exaggeration. The amount you repay on a mortgage fluctuates with the level of interest rates, and salaries do not always rise over time. In addition, it is easy to envisage a scenario in which inflation can harm people with mortgages.
I currently believe that the doomsayers who warn about the dangers of deflation are for the most part people who know that it is no more of a danger than inflation, but who are obsessed with inflation. When inflation is low - and it ought to be zero - they invent a danger of deflation so as to make us believe that we should overlook the dangers of inflation.
Money should neither rise nor fall in value. It should remain stable at all times. The doomsayers are therefore half right. We do not want deflation, but neither do we want inflation.
This link lists some of my previous posts about the economy.
Before I continue, please take slightly less than nine minutes to watch this video:
It is hard to be precise about the effects of deflation because it very rarely occurs. In fact, I am not sure that Britain has ever experienced deflation - or at least not across the whole economy.
Let me repeat what I said in an earlier post:
Inflation is a trend rise in prices over a period of time, and also the decline in the value of money over the same period of time ... It is impossible to calculate the rate of inflation exactly, as we have to make assumptions which are not necessarily correct.
Likewise, deflation is a trend fall in prices over a period of time, and also the increase in the value of money over the same period of time. It is impossible to calculate the rate of deflation exactly, as we have to make assumptions which are not necessarily correct.
Deflation in the USA has been linked to high levels of unemployment, but periods of inflation in many countries have been linked to economic misery.
The belief that deflation discourages people from buying is at best an exaggeration. As it happens we can see deflation at work in some sectors of the economy, and it certainly does not discourage people from spending their money. The latest computer game might cost thirty pounds on the day of its release, fifteen pounds six months later, and six pounds two years down the line - and yet sales are almost certainly going to be highest when it costs the most.
Many economists seem to think that inflation does not matter much if it is at a very low level, and yet we are expected to believe that deflation would be a disaster even at a very modest level.
The argument that deflation harms people with mortgages seems also to be at best an exaggeration. The amount you repay on a mortgage fluctuates with the level of interest rates, and salaries do not always rise over time. In addition, it is easy to envisage a scenario in which inflation can harm people with mortgages.
I currently believe that the doomsayers who warn about the dangers of deflation are for the most part people who know that it is no more of a danger than inflation, but who are obsessed with inflation. When inflation is low - and it ought to be zero - they invent a danger of deflation so as to make us believe that we should overlook the dangers of inflation.
Money should neither rise nor fall in value. It should remain stable at all times. The doomsayers are therefore half right. We do not want deflation, but neither do we want inflation.
This link lists some of my previous posts about the economy.
Friday, 8 November 2013
Gambling ruins lives
Liverpool City Council has demanded a ban on fixed odds betting terminals (FOBTs). Players can gamble up to £300 per minute on these machines. FOBTs have been likened to crack cocaine.
A local councillor has commented that:
I’ve heard stories of ordinary people, doing ordinary jobs, who are going into the bookies on pay day and losing a whole month’s salary or wages in one session.
A local councillor has commented that:
I’ve heard stories of ordinary people, doing ordinary jobs, who are going into the bookies on pay day and losing a whole month’s salary or wages in one session.
These
machines are causing real problems in Liverpool. People are losing
their jobs, their relationships are breaking down, they are losing their
homes, turning to loan sharks or payday loan firms and even committing
crimes because of gambling.
Tuesday, 5 November 2013
Single mothers lose legal challenge
Three women who live in Greater London have failed in a legal challenge to the government's new benefits rules for lone parents. The Daily Express reports that:
Ms Carrier [a solicitor acting for the claimants] said it was expected that the impact of the cap would be most acute in London because of the lack of affordable housing in the capital and high housing benefit costs.
I am not sufficiently well versed in the benefit reforms to be able to offer a detailed response, but I will accept the allegation that the difficulties it causes will indeed be most acute in Greater London.
It is fair to point out however that it is possible that all three claimants are immigrants. One of them is known to be a Roma woman from Poland, and another is an Orthodox Jew.
Greater London is expensive, and it is expensive because it is crowded. Part of the reason for its being crowded is the fact that it is home to millions of immigrants. If Britain were to close its doors to more immigrants, then the cost of housing in London might not fall, but at the very least it might not rise much further.
As for the Polish claimant, if she does not like claiming benefits in this country, then she is welcome to return to Poland.
Ms Carrier [a solicitor acting for the claimants] said it was expected that the impact of the cap would be most acute in London because of the lack of affordable housing in the capital and high housing benefit costs.
I am not sufficiently well versed in the benefit reforms to be able to offer a detailed response, but I will accept the allegation that the difficulties it causes will indeed be most acute in Greater London.
It is fair to point out however that it is possible that all three claimants are immigrants. One of them is known to be a Roma woman from Poland, and another is an Orthodox Jew.
Greater London is expensive, and it is expensive because it is crowded. Part of the reason for its being crowded is the fact that it is home to millions of immigrants. If Britain were to close its doors to more immigrants, then the cost of housing in London might not fall, but at the very least it might not rise much further.
As for the Polish claimant, if she does not like claiming benefits in this country, then she is welcome to return to Poland.
Sunday, 3 November 2013
Sarah-Jane and the war on drugs
Britain remains as violent as ever. Two teenage girls - Jasmine Allsop and Olivia Lewry - have been murdered on a night out in Gosport. By contrast, Jessica Brown of Northampton has merely been punched in the face. She was wearing a chicken costume while handing out flyers on her first day in a new job, and apparently the previous wearer of the said costumer was also assaulted.
If you vote Labour or Conservative, then do not pretend you care. Successive Labour and Tory governments have allowed thugs to rule far too many of our streets. They have also been soft on drugs.
Sarah-Jane Honeywell, formerly a CBeebies presenter, has admitted to a cocaine obsession which at its height saw her snorting twenty lines a night. She has also claimed that cocaine use was commonplace when she entered the entertainment industry.
If you do not want any member of your family to develop a drug habit, then maybe you should join a political party whose policies include punishing all drug dealers with the death penalty. Then again, maybe you are happy for your loved ones to snort cocaine, get punched in the face, or be murdered - in which case keep on voting for the evil Labour and Conservative parties.
If you vote Labour or Conservative, then do not pretend you care. Successive Labour and Tory governments have allowed thugs to rule far too many of our streets. They have also been soft on drugs.
Sarah-Jane Honeywell, formerly a CBeebies presenter, has admitted to a cocaine obsession which at its height saw her snorting twenty lines a night. She has also claimed that cocaine use was commonplace when she entered the entertainment industry.
If you do not want any member of your family to develop a drug habit, then maybe you should join a political party whose policies include punishing all drug dealers with the death penalty. Then again, maybe you are happy for your loved ones to snort cocaine, get punched in the face, or be murdered - in which case keep on voting for the evil Labour and Conservative parties.
Saturday, 2 November 2013
Austerity versus democracy
A national newspaper today features a lengthy comment about François Hollande, the President of France. It asserts that:
He would defy economic reality and, above all, he would attempt to stand up to Germany, and the austerity policies dictated by the Bundesbank on the whole of the crisis-hit eurozone. Once he took office, Hollande began to govern as though France had full economic sovereignty, and didn’t have to obey German-imposed rules about levels of debt and spending.
He would defy economic reality and, above all, he would attempt to stand up to Germany, and the austerity policies dictated by the Bundesbank on the whole of the crisis-hit eurozone. Once he took office, Hollande began to govern as though France had full economic sovereignty, and didn’t have to obey German-imposed rules about levels of debt and spending.
Thursday, 31 October 2013
Tabloid-speak on immigration
A national newspaper is calling for Britain to "keep the floodgates closed", which apparently is tabloid-speak for not letting any more people come here from eastern Europe.
It states: All mainstream political parties now admit that immigration throughout the early years of this century has been too high. Much too high.
Really? I have just checked the websites of the Labour Party, the Conservative Party, and the Liberal Democrats, and I have not come across a corresponding statement on any one of them. Can anyone provide links?
All I can find are platitudes.
As for keeping the floodgates closed, the floodgates have been open for decades. Anyone who votes Labour or Conservative or Liberal Democrat is voting to keep those floodgates open. If you want to close them, then join a party which offers more than just platitudes.
It states: All mainstream political parties now admit that immigration throughout the early years of this century has been too high. Much too high.
Really? I have just checked the websites of the Labour Party, the Conservative Party, and the Liberal Democrats, and I have not come across a corresponding statement on any one of them. Can anyone provide links?
All I can find are platitudes.
As for keeping the floodgates closed, the floodgates have been open for decades. Anyone who votes Labour or Conservative or Liberal Democrat is voting to keep those floodgates open. If you want to close them, then join a party which offers more than just platitudes.
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