Sunday, October 02, 2011

What "unspent money"?

Apparently, George Osborne has a spiffing idea for kickstarting the economy.
George Osborne to inject unspent money into capital projects

What "unspent money", George? Your Coalition has borrowed more money in the last year than any government in history; the structural deficit is bigger than ever, and you have reduced this country's debt by precisely bugger all.

Approximately £180 billion of the cash that you are burning through this year is money that you didn't have in the first place, you fucking cock.
The chancellor is not spending extra money and so not deviating from his deficit reduction programme but he is to continue an emphasis on capital investment as a major part of attempts to right the economy.

What deficit reduction plan? You haven't reduced the deficit, Georgey-boy—you've increased it. How is increasing the amount of money that the government is borrowing a fucking deficit reduction plan?

Fuck me, I've been saying this for years, and it's still true: there's no fucking money left, you arsehole. And just to ram it home, here's Detlev Schlichter making the point in more measured tones...
And one final word to my English friends. No gloating please about the clever decision to stay out of the euro-mess. You have the same thing coning your way without the euro. The coalition’s consolidation course is apparently so ruthless that every month the state has to borrow MORE, not less. Even official inflation is already 5% but pressure is growing on the Bank of England to print more money. See the comical Vince Cable yesterday, or Martin Wolf, the man with the bazooka, in the FT today. Since 1971 the paper money system has been global. Its endgame will be global, too.

If Osborne seriously thinks that there is any "unspent money", then he's a bigger fucking idiot than I thought.

Unless, of course, George, you have manage to cut spending by roughly £180 billion? No, I didn't think so.



The Stigler said...

which will be redirected to "really useful projects, capital R, capital U," one Conservative cabinet minister told the Guardian.

If it isn't more roads then it will be Overpriced Fucking Crap. Capital O, Capital F, Capital C.

Suboptimal Planet said...

Yep. It's very difficult to contain the rage.

At least on Marr this morning Cameron had the decency to point out that £5 billion here or there won't make the blindest bit of difference, even if you do subscribe to ludicrous Keynesian ideas about stimulus programmes.

Pretty much everything else he said was complete rubbish.

Thanks for the rant, DK.

FlipC said...

'What "unspent money"'

Yet £250 million has been "found" to reinstate weekly rubbish collections.

NHS Fail Wail

I think that we can all agree that the UK's response to coronavirus has been somewhat lacking. In fact, many people asserted that our de...