Jeremy Corbyn

Hmm the Bank of England is also politically motivated in its writing – so of course it will respond to the allegation that the money is just going to the banks
I think I prefer the Wikipedia definition “A central bank implements quantitative easing by buying financial assets from commercial banks and other financial institutions, thus raising the prices of those financial assets and lowering their yield, while simultaneously increasing the money supply.”
It has formed a cornerstone of the the gov’t economic (aka austerity) policy against the recession. So it’s disingenous to try and separate fiscal from monetary policy and perhaps better to join them under the term economic policy.

The key question is has it really worked? From a financial stability POV perhaps, from a growth POV not much and from a majority POV not much but for the top 1% it has worked very well.

My 2 pence. QE was a measure to try and stabilise financial markets to stop even more companies going bust. It was resisted but the EU (especially Germany) initially but after they’d seen it work well in the US and the EU economies where still stagnating it was introduced here too. I think most of the money lent to banks was to prevent them withdrawing overdrafts and loans to business, they where being asked to reduce their balance sheets (i.e. lending) in fact the regulatory changes demand it. Also banks stopped lending to each other, they put their cash deposits with the BoE and the BoE then lent them out thus transferring the risk of default to the government.

News night last night focusing on the Conservative decision about whether to occupy the middle ground vacated by Labour or move further right, general consensus was they would do so as well as introducing more right leaning policy. The “do both” option.

Boris is tremendous

“Vested interests and interesting vests” 😀 “Edstone the worlds heaviest suicide note” 🙂 as well as his remarks about young people who weren’t around in the 1970’s when the UK and other countries tried more leftwing politics and discovered it was a disaster. I think spitting protesters outside the hall is a PR disaster particularly as Corbyn is in town and becomes associated with it even if he denounces them, they are his fellow protestors from Stop the War, Anti Austerity etc.

The key question is has it really worked? From a financial stability POV perhaps, from a growth POV not much and from a majority POV not much but for the top 1% it has worked very well.

Yes this is the right question, the answer is not clear. As I said Europe was sceptical so waited and watched what was happening in the US. QE does not help the rich at all. It depresses asset returns close to zero so they find it hard to make money on their investments. IMO its one reason property is so strong as returns on other assets like government bonds are so low also why European stock markets went up so much (now reversed) as money poured into them

IMO no QE/bank support would have lead to unprecedented levels of small business failure and a much bigger negative impact on the broader population.

Its not about whether we had growth but whether we avoided a much deeper recession.

The BoE paper is a technical paper – but if you prefer Zoe’s (inaccurate) analysis, fair enough. You decide which is more likely to be objective!

(FWIW, the BoE paper is v good as it turns the accepted notion of how money is created on its head)

Ditto, if you want to confuse monetary and fiscal policy, your choice.

I think spitting protesters outside the hall is a PR disaster

Indeed, this rent-a-mob only turned up to hear Corbyn speak because they were given a free pie and pea supper by the socialist workers party.

if you want to confuse monetary and fiscal policy

they are just descriptions of levers applied to an economy so they are already confused; economic policy involves tweaking the levers to (hopefully) achieve long term viable growth, shirley ❓

No they are separate and easy to understand, furthermore responsibilities relating to each type are (partly) in different hands. No reason to confuse them at all – although it is important to understand how they might conflict with each other (most years that is the last question in AS macro paper 😉 )

Growth is one objective, but not the only one.

Interestingly back in 2012, the then Gov of BoE commented in response to arguments about QPE or “helicopter money”:

I suspect that the advocates of “helicopter money” and related ideas are really talking about a relaxation of fiscal policy. It would be better to be open about that.

Exactly. Rather than straight talking we have gimmicks designed to obscure. It all sounds so simple too, which is why politicians get away with it.

Of course, put simply it’s obvious why Keynesian economists like Stiglitz and Krugman are in favour – its simply the same effect as relaxing fiscal policy in a recession which is standard response for them. No need to make it complicated.

jambalaya – Member

I think spitting protesters outside the hall is a PR disaster particularly as Corbyn is in town and becomes associated with it even if he denounces them, they are his fellow protestors from Stop the War, Anti Austerity etc.

Or more precisely because 60000 peaceful protestors don’t merit a mention but a small number of miscreants do. Same old.

60000 peaceful protestors don’t merit a mention but a small number of miscreants do.

Trouble makers infiltrating peaceful protests is a long standing problem. 😀

lovely hand writing

The Daily Telegraph seem to have gone into complete panic mode over Jeremy Corbyn, the sheer quantity of articles they have published about Corbyn and the prominence they given to them is quite frankly staggering, they really have become obsessed with Corbyn.

And in a remarkably unusual development for the press they’ve gone so much over the top in slagging off Corbyn that they’ve ended getting a bollocking from the press regulator.

Daily Telegraph censured over Jeremy Corbyn ‘antisemite’ story

Press regulator Ipso orders paper to run prominent correction after it ‘distorted’ comments made by a prominent Labour MP in a front-page story

Ipso ruled that the article stated “prominently and without qualification” that Corbyn was “antisemitic”.

“The coverage was therefore significantly misleading,” said Ipso. “This misleading impression was not remedied by the quotation of the [full] remarks elsewhere in the article. The newspaper had distorted [Lewis’s] comment on this issue.”

The Daily Telegraph really has joined tabloids such as the Mail and Sun in the gutter.

The Daily Telegraph really has joined tabloids such as the Mail and Sun in the gutter.

I don’t think there’s a single decent paper any more – they’re all about opinion and factually incorrect headlines to entice buyers rather than presenting news in a factual way.

We had the telegraph on campus today, if you bought a copy for 70p you got a free dairy milk bar worth a quid. Even then, they were getting shunned. If you can’t buy a student for 30p, you’ve lost the argument.

I went and bought a galaxy caramel, because I’m that edgy. Damn the man!

Trouble makers infiltrating peaceful protests is a long standing problem.

Demanding the right to demonstrate against apartheid was the work of trouble makers ? I can’t remember any anti-apartheid protest not being peaceful. Most ended up in Trafalgar Square right opposite South Africa House – home of the High Commission/South African gov. rep)

Were you gutted when the biggest trouble maker of all Nelson Mandela was released from prison outofbreath ?

they’re all about opinion

Because it is alot cheaper than running bureaux overseas and other reporter networks.

I think spitting protesters outside the hall is a PR disaster particularly as Corbyn is in town and becomes associated with it even if he denounces them, they are his fellow protestors from Stop the War, Anti Austerity etc.

Something negative happened somewhere near corbyn and you think it taints him

I wonder if this is just your bias at work here?

Something negative happened somewhere near corbyn and you think it taints him

Well it certainly tainted Corbyn when his driver assaulted a BBC cameraman :

Jeremy Corbyn’s driver ‘assaults’ BBC cameraman in scuffle outside his Islington home

He pulls open the door of the car to chastise Mr Corbyn for the behaviour of his driver, saying “That’s bang out of order!”

A photographer tells Mr Corbyn: “That is disgusting behaviour of someone who is working for you”.

Mr Corbyn does not respond as he sits in the silver Ford Galaxy.

I think Corbyn sitting there saying nothing says it all – guilty and unable to explain what is clearly indefensible.

As it happens the driver wasn’t working for Corbyn but for the present Tory government, but that’s not the point – Corbyn was sitting right next to him, if that doesn’t prove his guilt then I don’t know what does.

Has the Telegraph ever been popular on a Uni campus? Doubt it. All the papers have terrible mistakes, look at how bad the Guardian is at times and their Apple lovefest, sheesh.

Just save yourself the hassle of looking at the papers and go direct to their source e.g. Reuters.

The Telegraph has become esp rabid lately.

Partly Hodges!

I like the way only at the bottom do you see the truth of who the driver worked for- piss poor journalism

Given the BBC reporter was able to remonstrate with Jeremy only to end up later in hospital in a neck brace i assume he is a retired footballer and not someone just looking for an insurance scam

look at how bad the Guardian is at times

I wish that the Guardian would tell lies about David Cameron on their front pages, sadly Tory Party leaders are always spared that sort of treatment.

Tory Party leaders are always spared that sort of treatment.

I don’t know if it was lies or not, but pig gate…

Well if you don’t know if it was lies or not why are you offering it as an example of lies? 😆

I can’t remember any anti-apartheid protest not being peaceful.

Really?

“With our boxes of matches and our necklaces we shall liberate this country”

@Northwind, then why don’t the 60,000 (really ?!?) do something to tell the miscreants to cut it out ?

JY, Corbyn decided the “radical new politics” included appearing in the same city at the same time as the annual conference of another party. This is a break from tradition and accepted smart practice (as it makes you look like a sideshow) as such he’s going to run into a certain amount of flak. It’s just too easy to associate the two and he himself felt the need to denounce the spitters and egg throwers.

I think you need to break with tradition to be radical so thanks for the tautology

Its only easy to associate him with everyone present[ despite him criticising them an appealing for calm* if you are as myopic as you are]]Can i associate every Jew with what Israel does?
Can I associate every Israeli with what Israel does?
Can I say denouncing them proves my point?

Wonders aloud if changing every Jam post into something about Israel makes him see how daft his points are

* you are watching spurs some fans make hissing noises [ or shout yid army] you distance yourself for them but I say you are just like them as you were there – its a really crap point for me to make and the fact you despise their actions and denounce them is not proof that its reasonable to associate with you Its ludicrous 🙄

LOL @ ninfan making I out that I was talking about protests in South Africa ! 😆

Yes my Tory troll, the Sharpeville or Soweto massacres were definitely not peaceful events – well done. People risked their lives protesting in South Africa.

jambalaya – Member

@Northwind, then why don’t the 60,000 (really ?!?)

Ah yeah, the other thing you do with a protest, pretend it’s smaller than it was. But according to Chief Superintendent John O’Hare, “Today around 60,000 people took part in a demonstration and I would like to thank them for their cooperation. The overwhelming majority of people have exercised their democratic right to protest with dignity and good grace. The fact that only four arrests have been made throughout the day so far was particularly pleasing”

Why didn’t the 60000 do anything about it? Restrict their free speech? Silence them? It’s not for individuals to tell others what they can and can’t do, especially when the police are right there and not acting.

Why are people going “crazy” about this JC(not Jesus Christ) bloke to make him up as if he is the new savior?

FFS! JC(not Jesus Christ) has been in politics for a while now so where has he been all these years? Finding himself like Jesus Christ (not JC)?

Nothing revolutionary about his views etc at all. The wheel has been invented so it is impossible for him to reinvent the wheel again you get my drift? 🙄

The bloke is a no hopper but merely there to warm the seat until the next comedian take the post.

🙄

Off topic but the quote above took me to this:

Her reputation was damaged by such rhetoric as that displayed in a speech she gave in Munsieville on 13 April 1986, where she endorsed the practice of necklacing (burning people alive using tyres and petrol) by saying: “[W]ith our boxes of matches and our necklaces we shall liberate this country.”[13] Further tarnishing her reputation were accusations by her bodyguard, Jerry Musivuzi Richardson, that she had ordered kidnapping and murder.[14] On 29 December 1988, Richardson, who was coach of the Mandela United Football Club (MUFC), which acted as Mrs. Mandela’s personal security detail, abducted 14-year-old James Seipei (also known as Stompie Moeketsi) and three other youths from the home of a Methodist minister, Rev. Paul Verryn, claiming she had the youths taken to her home because she suspected the reverend was sexually abusing them. The four were beaten to get them to admit to having had sex with the minister. Seipei was accused of being an informer, and his body later found in a field with stab wounds to the throat on 6 January 1989.

Off topic but…….

It’s completely off topic. Would you like a link regarding how disgraced Tory MP Harvey Proctor paid underage rent boys to allow him to spank their arses? That too is completely off topic and has absolutely nothing to do with Jeremy Corby.

Would you like a link regarding how disgraced Tory MP Harvey Proctor paid underage rent boys to allow him to spank their arses?

Things you don’t expect to be offered on STW. 🙂 Or hear. Ever. 🙂

Call me unadventurous but I’ll stick to youporn, thanks.

teamhurtmore – Member
lovely hand writing

Actually,it is isn’t it? A black mark for capitalisation though and any anagram of the word capitalist is a bad thing for Jezza I would think.

Anyone see Panorama last night ? Will post up elsewhere but it revealed another side of Tom Watson than the one I’ve encountered at Hacked Off events. Very self serving and cynical manipulation of the press at the expense of an innocent man dying of cancer. Now we have the new politics perhaps he and Corbyn can energise the investigation into what happened in Rotherham and to what extent the Labour run council is complicit.

Now we have the new politics perhaps he and Corbyn can energise the investigation into what happened in Rotherham and to what extent the Labour run council is complicit.

Beyond pathetic, jamba, beyond pathetic. According to what logic does the political orientation of the council have any bearing whatsoever on the alleged activities of some of its members?

Very self serving and cynical manipulation of the press at the expense of an innocent man dying of cancer. Now we have the new politics perhaps he and Corbyn can energise the investigation into what happened in Rotherham and to what extent the Labour run council is complicit.

How on earth do you expect Tom Watson and Jeremy Corbyn to “energise” an independent inquiry ? What a remarkably dumb suggestion.

And as for you describing Leon Brittan as “an innocent man” some people might beg to differ. His death might have cheated those who wanted him to face trial but the same is true with regards to Jimmy Savile. It’s been a while since I’ve heard anyone describe Jimmy Savile as “an innocent man”.

And since you seem keen on inquiries jambalaya how about one into why Margret Thatcher when she was PM ignored a warning from the security services that an MP had a “penchant for small boys” ?

Spy chiefs warned Thatcher government about claims MP had ‘penchant for small boys’

Spy chiefs warned the Thatcher government that allegations an MP had a “penchant for small boys” risked causing it political embarrassment, documents have revealed.

Child abuse investigators found no consideration had been given to the threat to children the politician posed but MI5 had warned senior officials that the accusations could be damaging for the administration.

It doesn’t look very good specially when considering Thatcher’s very close friendship with another prolific paedophile who had a penchant for young girls.

chewkw – Member
FFS! JC(not Jesus Christ) has been in politics for a while now so where has he been all these years?

If you’ve ever watch any debates in parliament, Corbyn is a face you’ll know. I never actually knew his name till recently, but he’s always been pretty involved in parliamentary debates.

@ernie – did you watch the programme ? Watson and Corbyn could do much to investigate the local Labour Party’s role in Rotherham

I don’t know what you’re waffling on about jambalaya, what do you think a man who has been the job for less than a month should be doing with regards to the Rotherham abuse scandal? What would you like to see from Alexis Jay inquiry implemented?

Apart from attempting to score cheap party political points why have you raised the Rotherham abuse scandal and what has it got to do with the Corbyn?