How to turn a recession into a depression
As the old joke goes, it is a recession when your neighbour loses his job, it is a depression when you lose your own, says he.
Anyway, theT&GM, Unite has a laundry list of demands for the Sterling Killer:
Point one - this will result in folk not paying their debts, and lenders then being forced to make good losses elsewhere. This does not end the problem, it merely reshuffles it.
Two - What this really means is penal tax rates for higher earners. Cue an exodus offshore and bumper paydays for tax lawyers. Laffer curves anyone?
Three - Is there a connection between these two? It would take money out of the productive parts of the economy thus further deepening existing problems.
Four - Oh dear. One word - Concorde.
Five - E.on, EDF and the rest fold their tents and leave. A less competitive energy market results.
Six - Digging holes and filling them in perhaps?
Seven - Thus making the labour market still less competitive and driving investment overseas.
Eight - What is known as cathedrals in the desert syndrome
Nine - If there's anyone left to invest...
Ten - see eight
Anyway, the
- Freezing repossessions on homes and creating 1 million new affordable homes
- The introduction of a fair tax regime to address the poverty gap, including closing tax loopholes and cuts for lower earners.
- Increasing public spending levels to create demand
- Supporting manufacturing through procurement and investment
- A price commission for energy and a windfall tax on profits
- Maintaining a commitment to full employment
- Restoring and defending collective rights for workers
- Advancing investment in public infrastructure
- Reducing interest rates to stimulate investment
- Introducing a new order and regulation into the finance sector
Point one - this will result in folk not paying their debts, and lenders then being forced to make good losses elsewhere. This does not end the problem, it merely reshuffles it.
Two - What this really means is penal tax rates for higher earners. Cue an exodus offshore and bumper paydays for tax lawyers. Laffer curves anyone?
Three - Is there a connection between these two? It would take money out of the productive parts of the economy thus further deepening existing problems.
Four - Oh dear. One word - Concorde.
Five - E.on, EDF and the rest fold their tents and leave. A less competitive energy market results.
Six - Digging holes and filling them in perhaps?
Seven - Thus making the labour market still less competitive and driving investment overseas.
Eight - What is known as cathedrals in the desert syndrome
Nine - If there's anyone left to invest...
Ten - see eight
Labels: Sane economics, Unions
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on Monday, November 17, 2008 at 10:41 am.
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