Rob

“we’re living in a den of thieves, and it’s contagious”.

[Rob @RobPalmski]

@NotoriousPyro @garyseconomics Wow. You believe Tory politicians at their word? Strange times…

[Rob @RobPalmski]

@NotoriousPyro @garyseconomics I assume you are wrongly calling the period during David Cameron’s government as “austerity”…

[Rob @RobPalmski]

@llewellynsteven @garyseconomics Ok, final answer because this is genuinely quite boring now - government deficit spending damages the economy in the long term. Look at every historical example of monetary debasement and the outcome. I’m actually going now, so you can reply into the void.

[Rob @RobPalmski]

@llewellynsteven @garyseconomics Ha! You want more debt in a failing debt based system… and I’m the one that doesn’t understand economics? You crack on chap, but I’ll not be advocating for more decline… you are a typical “govern me harder daddy” type who wants what sounds good over what works.

[Rob @RobPalmski]

@llewellynsteven @garyseconomics What external inflation shock? Iran? If that were the case then CPI would have increased since the war started and it’s reduced. Further, the BOE have acknowledged Iran as a risk, not the core cause of inflation. Your Iran argument is nonsensical

[Rob @RobPalmski]

@llewellynsteven @garyseconomics Yes, more cuts. Less state. More free markets. The economy needs to struggle more in the short term for long term prosperity…or as Anders Borg the Swedish finance minister stated: “We have learned that if you want to save the welfare state, you have to save capitalism first.”

[Rob @RobPalmski]

@llewellynsteven @garyseconomics I care about the long term implications of inflation and its corrupting influence on economics… so, in that way I care more about the country and its people than you.

[Rob @RobPalmski]

@llewellynsteven @garyseconomics Anything that isn’t directly responsible for life, liberty and property rights. Bye!

[Rob @RobPalmski]

@llewellynsteven @garyseconomics In summary, the government spends debt ideologically, the private sector spends it productively (the profit incentive). I don’t want to be “governed harder”. I want limited government intervention. I’m off, it’s Sunday and sunny. Have great day

[Rob @RobPalmski]

@llewellynsteven @garyseconomics And how is that working out for Argentina? Their growth weakening? Inflation rising? Unemployment rates increasing

[Rob @RobPalmski]

@llewellynsteven @garyseconomics There is this thing called the private sector… your alternative is continued debt and managed decline. You’re wrong, in slow time. This is a played out economic model.

[Rob @RobPalmski]

@llewellynsteven @garyseconomics I’m not saying there wasn’t a degree of cost reductions. But to say it’s an effective austerity when you are still borrowing £100bn is nonsense

[Rob @RobPalmski]

@llewellynsteven @garyseconomics What was the borrowing rate during Cameron’s government. Look it up. We never achieved anything close to a budget surplus.

[Rob @RobPalmski]

@llewellynsteven @garyseconomics We print money as debt… so what happens when you can no longer to pay the yields on that debt? The example you’re looking to is Argentina, the result is hyperinflation

[Rob @RobPalmski]

@llewellynsteven @garyseconomics It didn’t pursue austerity, we still borrowed at about 10% of GDP. So that’s nonsense

[Rob @RobPalmski]

@llewellynsteven @garyseconomics What’s your solution, keep borrowing until we go slowly insolvent?

[Rob @RobPalmski]

@AndrewHWestern We are economically bankrupt with you…

[Rob @RobPalmski]

@llewellynsteven @garyseconomics Reduction in borrowing costs, removal of tax for businesses, increased enployment, reduced inflation, reduction of interest rates… and on and on.