logo
The Daily Stirrer

Obama Deficit Reduction by John De Roe.
We hear that America's AAA credit rating is likely to be downgraded because the Obama administration has embarked on a courseof increasing its public sector deficit and national debt rather than taking steps to reduce its debt burden. Bit at least some member of the Obama administration seem to have got the message that debt reduction is more important than Obie's beloved vanity projects.

The Wisdom Of Urgent Deficit Reduction Reaches Obama - ville
by Ian R Thorpe.
2010-07-10
CREATIVE COMMONS: Attribute, non commercial, no derivs.
KEYWORDS: economics, economy, economists, politics, politicians, right, left, federal, reserve, conservative, republican, election, political correctness, politically correct, authority, authoritarian, courts, law

Not long ago I became involved in a thread with people who thought they were discussing economic philosophy. If fact they were simply doorstep evangelists for The Obamessiah and his lonytoons economics. As usual with people who cling to the notion that Obama is a competent President as tightly as working class Americans "cling to their guns and Bibles" (hey, I never said I don't hit below the belt) they make a wild statement and then defend it simply by saying no intelligent person could possibly disagree, in this case it was that everybody with any sense can see more "stimulus spending" (aka running up unsupportable debts to fund vanity projects) is essential to return the economy to growth.

A more realistic view and one that anyone with two brain cells that communicate with each other can see the validity of is that when you haven't enough money coming in to cover necessities (interest on existing debt, welfare, public sector salaries, the military, pensions etc.) it's a really really bad idea to put yourself in hock to loan sharks so you can buy a new car, a wardrobe full of designer clothes and maintain the luxury lifestyle.

At the G20 summit Obama demanded other nations buy American bonds to fund his insane spending committments. As has happened before the nations with surpluses are very well aware that economists are lying, there is no recovery in sight. public spending stimulates nothing. There is nothing to be gained by creating public sector jobs and spending money you don't have on state funded projects only deepens the problems.

I was asked to explain the basic philosophy of Keynesian economics having tried to make it clear there is a big difference between what Keynes wrote and was semi literates like Paul Krugman who have spent all their lives cocooned in academic institutions think Keynes wrote: i.e. governments can just print money to fund unlimited public spending.

Now I will explain something that is way beyond dimwits like Obama and fuckwits like Krugman. The central banks reduced the base rate, the rate at whuch they lend, to just above zero. The thinking was that by being able to borrow at such cheap rates the banks would be encouraged to lend to business and consumers at more commercial rates. The deficit economics of the Obama administration, Britains Labour government until a couple of months ago and other debtor nations mean that those governments have to sell bonds to fund their deficit requirements. So what do you think the banks are doing (bear in mind bankers might be shits but they're not stupid) Think it through, go on ...... I can hear the cogs grinding, you're getting there.....

"duh"

I THINK THEY'VE GOT IT! BY GEORGE THEY'VE GOT IT!!!

The Banks are borrowing from government at 0.5% or less and lending it straight back (buying tresury bonds) at 3%+

Would anybody like to explain to us how that stimulates anything except the profits of the banks at the taxpayers' expense.

Below we link to a good article from The Daily SItrrer. Put together by John De Roe, a former commercial banking specialist and now financial controller of a medium sized municipal authority, a mash up in which the arguments against increasing indebtedness are explained by two British Liberal economists and an American whose political provenance I am unsure of.

The public sector produces nothing of value. Tax eaters do not earn revenue they only consume it. In a world of finite resources belief in infinite growth is stupidity. We have to limit the size of the public sector to what the private sector can support. It should be a no brainer.

The Chinese and Indians are no longer buying US Treasury Bonds. Get real. John De Roe (topmost link) did not know what the outcome of the G20 summit would be when he compiled his piece and when I decided to delay replying to questioners it was simply because I had too many other things on. I guess, because in the interval the world leaders have told President Big Ears "Your credit is no good any more" and patiently explained to him yet again he is President of The United States not The World I won the argument hands down.

RELATED POSTS:
The Second Wave Of The Debt Tsunami or The Coming Of The New World OrderAs the debt crisis stumbles on in Europe, the U S A and around the third world all politicians and governments can do is keep kicking the can further down the road. Nobody is prepared to admit that the economic model based on perpetual growth funded by personal debt and public spending has failed. So where do we go from here?
Obama - When They said it didn't matterThe Daily Stirrer was asked to post this although we are not a U.S. blog. We are happy to oblige because we have always felt there are too many unanswered questions about Barack Hussein Obama, too many answers that have been given but shouted down by those who insist to question him is racist and too many instances in which he has shown where his true sympathies lie (and it is not with America or it's natural allies)
California: The Global Capital Of CrazyCalifornia has long been known as the global capital of crazy. Every stupid, solipsistic, acid dropping, dope smoking dickhead in the world is welcome there and every bad idea will find an enthusiastic following. California's economy depends on high tech industries. And yet people are prepared to put money into promoting a return to pre - steam, eco friendly technologies. ...

The Greek Bail Out Deal Humiliates Greece Without Solving Anything A "strictly confidential" 10-page debt sustainability report commissioned for yesterday's meeting of eurozone ministers has been leaked to the media. The document concludes that the austerity measures being foisted on Greece in order that the indebted country can receive a €130bn bailout, are quite likely to prove self-defeating, in that the austerity, by further weakening the economy are likely to cause the sovereign debt to ...

Obama's Supercommittee Fails To Agree A Deal On Debt
There are strong opinions here, you've been warned. The bipartisan committe of hand picked senators and congressment set up by Barack Obama to agree a deal for reducing America'ds debt divided along partisan lines and reached its deadlind in total deadlock ...

IMF Warns Obama - Cut Deficit Or Else As Bond Traders Short American BondsThe International Monetary Fund has warned barack Hussein Obama's administration of incompetents the US should quickly start to make a 'down payment' on tackling its budget deficit, as it emerged that the world's biggest bond investor is shorting the country's bonds.

Financial MadnessWas the credit crunch as the media called it really caused by the geed and incometence of the banks and the inabiliy of us ordinary punters to manage our affairs. Or was it all due to the financial madness of politicians who engineered a a system that depended on infinite growh in a world of finite resources.
The Debt Threat To Our Way Of LifeJapan's Triple A credit rating has just been downgraded, that of the USA is looking a long way short of secure.What is going on in the world of finance when economic powerhouses like these are in trouble? Is the continuing financial criis and the threatened meltdown in the bond market just a knock on effect from 2008's problems or is something bigger going on?
Coalition Government Urged To Make PFI Profiteers To Repay FundsFrancis Maude, the Cabinet Office minister, claimed that many PFI deals were "ghastly" and imposed an unfair "penalty" on schools, hospitals and other public services. It is understood that Cabinet Office and Treasury officials are examining PFI contracts worth billions of pounds, looking for ways to claw back money for taxpayers. Signalling an end to the era of PFI, Mr Maude said the Coalition's plans for a ...
Financial AlchemyFor three decades it was alchemy. Banks and corporations pullede off the equivalent of turning lead to gold by turning liabilities to assets and then using those very dodgy assets to secure loans. It could not last of course, sooner or later someone was bound to work out how the illusion of turning debt to wealth was performed. Find out how here...

Death Of The Eurozone.When the first treaty aimed at establishing the European Union was drafted by the bureaucrat Jean Monnet it stated clearly the aim should be to create a single European state with a single currency (the Euro) and eventually a single government. That part of the reaty was rejected by all European states and an economic community based on free trade and fee movenent of goods and labour formed. But the Eurocrats of Brussels did not give up their dream ...
Defending Keynes Why the financial crisis will hurt you Now even US catches the defict reduction habit Bond Villain Targets Britain
Future Is Cancelled
Interesting Times
Magic Money
When Less Was More

If you liked this, please give it a boost

Bookmark and Share

Close Window and return to menu
News Feeds (Go back to top) <
BBC News
CNN
[an error occurred while processing this directive]
SITE SEARCH
find keywords on this site

Enter keywords& choose search engine:

Google: Yahoo: MSN:

This free script provided by
JavaScript Kit

INFORMATION & NAVIGATION

navigate

navigate

CATEGORIES

Fiction
Animal related
Art Menu
America:
Belief, Faith and Religion
Big Data And The Surveillance State
Catalogue of the Bizarre
Our posts on the Brexit saga
Celebrity mocking and knocking
Climate and Environment
Comedy, Satire, Humour
Debt Crisis and Money Matters
Driven To Drink
Europe index of posts
Posts on far east
The trade and commerce catalogue page
Germany - index of posts
EU Immigration crisis
Cultiral Clash - Islam Versus Multiculturalism
Education Menu
Fear and Panic
Globalisation - the enemy of freedom
Geoengineering: Science versus Humanity
Health Menu
History - new perspectives
Immigration crisis
Humanitas
ISIS and the Middle East War
Jobs Crisis
Living Within The conspiracy
Middle East
Nanny State and The Thought Police
Past Perspectives
Philo & Sophia
Politically Correct Stupidity
Fools & Dreamers
Politics and Economy
Recommended Reading
Science and Technology
Sex and sexuality
Sport
Syria -learn what really happened (catalogue) UK politics
Weird and Supernatural
World Politics
SNACKS (sub topics)
The Ageing population
age
Religion and spirituality
Climate Change
Comedy and Humour
Education is overrated
The environment
Europe
Health
Internet Technology
Jobs and employment
Money and finance
Myths and traditions
Nanny Orwell
People and Places
Science, technology
Society
UK politics
War
World Politics

Our Internet Places
Scribd
Blogster
Ed Butt at Bubblews
Wikinuts
Boggart Blog
Little Nicky Machiavelli
Boggart Network News
Greenteeth Bites
Greenboggart
Boggart Blog Central
Daily Stirrer briefing
Boggart Network News
BOGGART BLOG ARCHIVES
BBselect001
BBselect002
BBselect003
BBselect004
BBselect005
BBselect006
MULTI MEDIA
Spoken Word
Video
Music
Graphic Art

Home
Top Of Page
Back Catalogue
Our Comments
FEATURESThe Daily Stirrer
Boggart Blog Central

Comedy Main
Comic Verse
Cartoons
A Tale Told By An Idiot
General
Fiction
History
Thought
Poetry
Science & Technology
Elsewhere

Boggart Blog Daily
Little Nicky Machiavelli
This writer at Authorsden Gathering
Delicious Greenteeth
Boggart Network News
Boggart Network News

More From Around The Labyrinth

LATEST POSTS & COMMENTS

February 2020


VW Audi Suspends Electric Vehicle Production Due To Battery Shortage
Today in “news that affects all electric vehicle manufacturers”, Audi has announced that it has suspended production of its e-Tron electric SUV effective February 20 and won’t resume untilfurther notice. The suspension has been a resolve of “resolving production issues”, which are mainly attributed to bottlenecks in battery supply, according to Business Insider.

Worst polluting coal and wood fires banned in fight to cut emissions
Domestic coal and certain types of wood are to be banned from sale from next year in a bid to cut air pollution, ministers will announce on Friday.

Macron Vows to Fight ‘Islamist Separatism’ with New Reforms

French President Emmanuel Macron has declared his government will fight against “Islamist separatism” with reforms including ending residency for foreign imams.


Switzerland’s environmental agency announces national moratorium on 5G
This blog has warned about the health risks of 5G wireless technology before, almost from the moment it was announced people who understand this technology (and two out of the three of us do,) have been saying that while there is always a risk from electro – magnetic radiation, with earlier technologis it was easily manageable if a loittle common sense was deployed. The exponentially higher intensity of 5G frequencies however, takes the health risks to humans to a whole different level.

Criminal damage in Cambridge reveals the police soft peddaling on Extinction Rebellion crimes Nobody is allowed to walk on the grass outside Trinity College Cambridge. I suppose an exception might be made if you were a 365-year-old don who once lolled under the famous apple tree with Sir Isaac Newton (probably a couple of those old fellows still holed up in the port cellar).

Otherwise, set one foot on that sacred turf and you will soon find yourself experiencing the full force of Newtonian gravity; rugby-tackled to the ground by a puce-faced porter in a bowler hat.

Germany's ruling party split over how to respond to AfD
Germany's Christian Democrat party (CDU) is as deeply divided as Britain's Labour Party over how to respond to the upsurge of nationalism. Facing a serious challenge from the nationalist (but not far right please, they are not that,) Alternative for Germany party (AFD) the CDU seems pitifully unprepared for departure of the Chancellor Merkel at a point when Germany its facing most serious political and economic crisis for decades.

Afer EU Engineered Hiatus Italy Heading For New Elections?
Matteo Salvini's Lega are by far the most popular political party in Italy and have been for some time, only a stitch up engineered by the Brussels bureaucracy has kept them out of power. But Brussels determination to prevent any Eurosceptic party becoming part of a governing coalition in any member state reveals the true, authoritarian nature of the European Union.

Sweden dystopia omnibusSwedish Communist Party: The Left Has Abandoned the Working Class For Migrants & LGBT issues
Are the left getting it at last? Is the message sinking in that the grass roots movements have been infiltrated and hijacked by middle class intellectuals. Are they starting to realise that the obsession with identity politics has supplanted income inequality, housing availability, jobs and the cost of living ... ?

Is the World Health Organization involved in biological warfare research?
Dr. Francis Boyle, a professor of international law, talked in a recent interview with about the Wuhan coronavirus now sweeping through the far east, laboratory in Wuhan, China, where the genetically modified virus appears to have originated, and the World Health Organization’s (WHO) clandestine involvement in biological warfare research ...Continue reading

13-year-old fights school policy allowing ‘trans girls’ into girls’ changing room February 7, 2020 (Paul Smeaton, LifeSiteNews) – A 13-year-old UK girl is taking her local council to court after it issued guidance that would allow boys who identify as “transgender girls” to access girls’ bathrooms, changing rooms, and dormitory rooms on student trips.
The guidance was issued last year as part of the Oxfordshire County Council’s “Trans Inclusion Toolkit for School 2019” project.

RACIST BRITAIN: ‘Black Studies’ Professor Says British Empire Was Worse Than Nazi GermanyBritain’s first professor of “Black Studies”, (yes you can get a Mickey Mouse degree from Toytown University in Black Studies,) who is aquiring quite a reputation for uttering ‘hate speech’ against Britain and white people in general, has now opined the British Empire did “far more harm” than Hitler’s Germany, and branded “whiteness” a “... Continue reading”.

Big Pharma billionaire charged with conspiracy and bribery of doctors
Not long ago it would have been inconceivable that one day a Big Pharma company founder and owner would be arrested for running a criminal drug cartel, but that is exactly what happened a few days ago. “Federal authorities arrested the billionaire founder and owner of Insys Therapeutics Thursday on charges of bribing doctors and pain clinics into prescribing the company’s fentanyl product to their patients ...

Coronavirus Contains “HIV Insertions”: Claim Stokes Fears Over Genetically Modified BioweaponFor the past two weeks mainstream media reporting of the epidemic of a new strain of coronavirus in China has been getting more and more hysterical. However, reports have pushed back against one "conspiracy theory" about the origins of the virus that has now infected as many as 70,000+ people in the central China city of Wuhan alone (depending on whom you believe).

Corona Virus: Should We Worry
The official data coming out of China and from other sources including the World Health Organisation (WHO) on the spread of the Wuhan coronavirus continues to suggest an exponential growth rate. With more and more infectious disease experts are now openly calling the virus a full-blown global pandemic, many people are asking should we in the west be worried and how bad might things get?

The Islamic Republic Of France
France’s left-wing elite are accused of cowardice for failing to support 16-year-old girl facing death threats after she insulted Islam online, the ruling class have been also accused of cowardice for failing to support a 16-year-old girl who has faced death threats after she allegedly insulted Islam online.

Clinton Kill List To Determine Who Will Be US 2020 Presidential Candidate?
And then, in accordance with Murphy’s law, which states just when you think things can’t get any worse, they do, Hillary Clinton has emerged, having found what she obviously thinks is a sure – fire route to the presidency, to offer her services as vice presidential candidate to whoever wins the nomination. And just to show how far The Democrats are removed from reality, many leading figures in the party and the left leaning media think it’s a good idea.

January 2020

Coronavirus Contains “HIV Insertions”: Claim Stokes Fears Over Genetically Modified Bioweapon
The theory that China obtained the coronavirus via a Canadian research program, and started molding it into a bioweapon at the Institute of Virology in Wuhan before it somehow escaped could be an attempt by the establishment (the Davosocracy,) to spread fear and panic as they see resurgent nationalism across the developed world and growing scepticism about

Italy most likely member to quit the EU and demand independence after Brexit -shock poll 23:01 (11 pm) 31 January, the United Kingdom is no longer part of the European Union.

Throughout the day, the last on which the UK will be a member of the European Union, more than 7,000 people took part in an online, and completely meaningless except as a gesture, poll which asked which nation they thought would be next to leave the 27 member bloc ...

US Democratic Party Orders Google To Spread Globalist Propaganda
The U.S. House of Representatives Select Committee on the Climate Crisis has demanded, in a letter to Google CEO Sudar Pichai that the Internet Search giant demonetize climate skeptics, and provide 'education' to millions of people who have been exposed to “dangerous misinformation”. Key actions demanded of Google by The Democrats are:

Time is NOT real: Physicists show EVERYTHING happens at the same time

The concept of time is simply an illusion made up of human memories, everything that has ever been and ever will be is happening RIGHT NOW. That is the theory according to a group of esteemed physicists who aim to solve one of the universe’s mysteries.
Most people do not even consider the concept of time but there is nothing in the laws of physics to state that it should move in the forward direction that we know. The laws of physics are symmetric ultimately meaning that time could have easily moved in a backward direction as it does forward. Indeed some adherents to the ‘big crunch’ theory say time WILL run backwards when the universe stops expanding and starts contracting back in on itself.

The BBC is panicking at the public’s rejection of its arrogant Left-liberal worldview
This is nearly over – this weird disconnect between what most of us understand as reality and the world as seen through the eyes of an all pervasive Authority that was apparently appointed (although we never knew by whom) to establish the limits of public discourse. The crisis of confidence at the BBC – and make no mistake, it is a full blown, all alarm bells ringing, catastrophic crisis ...

The grooming gang cover-up is Britain’s real racism scandal

Forget pathetic 'Princess Pushy' Megan Markle petulantly playing the race card when she found life in the goldfish bowl occupied by Britain's Royal Family was not to her liking, the grooming gang cover up is Britain's racist scandal - and it is far worse than the trivialities that get American libtards screaming about "White Privilege ..."

John McCain’s Widow Comments on Jeffrey Epstein’s Sex Trafficking ChargesJohn McCain’s Widow Comments on Jeffrey Epstein’s Sex Trafficking Charges


Speaking at a human trafficking event in Florida, McCain revealed that her family was quite familiar with Epstein’s wrongdoings as one girl from her daughter’s high school was actually among the financier’s underage victims, then suddenly acknowledging that she “knew” about his crimes.
More posts:

French Intellectual Jailed for Calling Mass Immigration an “Invasion”
French intellectual Renaud Camus (above) has been conditionally sentenced to 2 months imprisonment for arguing that mass immigration in Europe represents an “invasion.” Summit.news reports: The writer, who is the author of Le Grand Remplacement (The Great Replacement), was charged with “public incitement to hate or violence on the basis of origin, ethnicity, nationality, race or religion.”

“Hard” Of Hearing? PornHub Being Sued By Deaf Man For Lack Of Subtitles
We read today that sex supermaket site PornHub is being sued by Yaroslav Suris, who has filed a lawsuit claiming that its lack of PornHub’s lack of subtitles for the hard of hearing is discriminatory. Suris’ bone of contention is that the website violates his rights under the Americans With Disabilities Act, according to showbiz gossip site TMZ, which broke the story ...

Quitaly Back On As Salvini Prepares To Take On The EU
While the bureaucraps of Brussels were still congratuating themselves on forcing Matteo Salvini’s Lega party out of Italy’s governernment, mainstream media barely bothered to cover the news that Lega won the state elections in Umbria towards the end of October 2019. Thus the story that should have had Europhiles like Emmanuel Macron and Guy Verhofshit crapping themselves was barely noticed.

Police Failed To Act Against Muslim Grooming Gang Due To Fears Over "Community Tensions" A new report based on the evidence of former Grester Manchester Police Detective Constable Maggie Oliver acknowledges that the force failed to stop dozens of girls being groomed and sexually exploited by a network of Pakistani men despite being fully aware of what was happening due to fears over creating “community tensions.” The report notes that the instruction to avoid prosecuting came "right from the top ..."

Asian grooming gang given free pass to rape; police officers told ‘find other ethnicities’ to investigate – detective.
A report published today, authored by child protection specialist Malcolm Newsam CBE and former senior police officer Gary Ridgway, comes following the reopening of an investigation into the death of 15-year-old Victoria Agoglia, who – after years of abuse and days after she was injected with heroin by a 50-year-old man – died in hospital of an overdose in 2003.

Greta Thunberg Slams Australia for Coal Industry, Expands List of Climate Demands
Little Greta Thunberg, who was elected by nobody apparently now speaks for us all on matters relating to climate change. The Swedish climate change hustler who is making a fortune for her handlers from donations to her campaign, again castigated Australia for continuing to mine and export coal despite her previous complaints, adding a call for an end worldwide to the actibity to her list of climate demands to be delivered at the upcoming World Economic Forum in Davos ...

Macron Digs In Against The General Strike, But Could It Finish Him?
As the French braces itself for the latest wave of protests and strikes across the country, as attitudes harden against President Emmanuel Macron's pension and retirement system reforms. Karel Vereycken, vice-president of France's Solidarity and Progress Party, has given his version what's behind the recent wave of strikes and why Macron's efforts to calm the situation down are backfiring.