- Ed Balls
I watched most of the speech this morning on tele, was genuinley hoping to hear about some policies for a change.
How disappointing then that it all seemed ( to me ) to be full of promises to set targets but no details of how they would be reached combined a series of statements about how the current lot are doing it wrong but no information on how he would have done it .
All in all another missed opportunity to convince me to give his mob a chance ….. I still can’t forgive Tony and new labour and as yet am not willing to trust this latest version of new new labour , and that for me is the issue… They need to do something to regain that opportunity, they should not rely on folks getting fed up of the other lotPosted 6 years agowordnumbMember
I don’t like him.
I don’t understand why people feel the need to find politicians likeable, it’s a dirty job that is certain to mess with a person’s head to an extraordinary degree. Just wish a few politicians struck me as competent and driven by more than careerism / ego / greed / legacy.Posted 6 years agoteamhurtmoreMember
Ball may make mistakes but it is wrong to questions his intellect. He is undoubtedly very bright, but like most politicians he manages to hide this very well, in the needs of party politics. His speeches to the Fabian Society are often among the best, most considered and relatively speaking most apolitical.
But the guy is in a fix. The economic is surprising on the upside generally – so first need to change tack. Now incomes are starting to catch up with inflation – so the cost of living strategy is potentially vulnerable. And then there is the Achilles heel of labours track record in the economy. Hence this is tack 3 (of?) – we can be as fiscally responsible/ruthless as the Tories. Not sure why he is being so specific at this stage – odd tactics IMO but the poltical balance is shifting subtedly and labour having been in control of the debate in 2H13 are now slipping behind.Posted 6 years agoninfanMember
THM – do you think that, in hindsight, the Osborne game all along was to go in and smash up the shop early, front loading the ‘austerity’ cuts, so that by the time the pre-electioneering came along the Tories were able to say ‘well, its because we took these hard decisions early, that we’re now back on the up and able to give you something back’
or is it just happy coincidence that the market has begun to turn in the right direction at the right time?Posted 6 years agoratherbeintobagoSubscriber
I don’t understand why people feel the need to find politicians likeable, it’s a dirty job that is certain to mess with a person’s head to an extraordinary degree. Just wish a few politicians struck me as competent and driven by more than careerism / ego / greed / legacy.
It’s not that he’s easily dislikeable; it’s why he’s easily dislikeable, bullying, factionalist, condescending so-and-so that he is.Posted 6 years agobone_idleMember
Balls.. he was the brains behind Brown the one eyed comedian, and look were he got us all. Trouble with Balls is he has no principles and is totally insincere. He will come out with anything if he thinks that’s what people want to here that day.
the mans a total wrongunPosted 6 years agoteamhurtmoreMember
teamhurtmore – Member
His speeches to the Fabian Society are often among the best, most considered and relatively speaking most apolitical.
I take it back, just read the text of the e speech and it fails on all three counts this time. Pity, his one two years ago on Keynesian economics was very good.
Ninfan – tough question, since what GO says he did and what he actually did are two very different things IMO. We are experiencing an unorthodox policy mix especially in terms of monetary policy. There was only one certainty from that – financial assets would rally strongly. Why? Simply because the transmission mechanism (banks) were (a) still buggered and (b) still coming to terms with regulation and the need to deleverage. So it was obvious to me that liquidity would target financial rather than real assets. Nice for punts (about a year ago I mentioned buying Unicredit shares in Italy – check it out, pity I didn’t sell out a month ago! ) but not so good for the real economy.
So we have a surprisingly strong upturn as a result of extraordinary policy measures. So far so good – but the fundamental issues that caused the crisis (too much leverage) are at best only partially resolved and not even that in truth. Plus capital investment has suffered – hence the debate between Larry Summers and GO at Davos yesterday. Quite a fun one. So this is a weak rally based on the usual UK factors – consumption, housing market, financial assets rather than the start of a more sustainable upturn (at least not yet).
Having said that, I still believe that between now and the election that the surprises will continue on the upside (the Tory’s joker) but I am less sure that the correct polices are in place for a more sustained upturn beyond that. We shall see. Then there is France. There is still a danger that Fr could slip back into recession and cause €-angst again. And even though there is some stabilisation in the periphery the social suffering eg Spanish UN is still extreme.
Monetary aggregates are still not behaving in the way that they should – which is a warning sign – but there are signs that the normal patterns are re-emerging in some developed economies. The spooky stuff is what is happening in emerging economies right at the moment. Whither Argentina now…..is that where Ernie has disappeared to? He has family there I think and has gone very quiet on here.Posted 6 years agokimbersSubscriber
I cant see that theres that much between him and osborne tbh
before the last election osborne said theyd match labours spending plans
now balls is saying that hes gonna stick with ‘austerity’ after the election
the 50p tax rate thing is just tossing a bone to their partisan followers on either side
osborne seems to have banked the recovery on keeping interest rates low (and keeping the banks happy) exactly as new labour were doing b4 they got booted outPosted 6 years ago
and once again everything is dependent on selling off public services and the great british housing boom
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