Growth

[tHEgLASSdOORS]

“Wealth creators” and “risk takers”

Remind us of all of how they all helped us in 2008….

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Even the very term “wealth creator” is hilarious

In a crowded field, just about the most facile comment you've posted this week.

Credit Creators, government, central banks and regulators asleep on the job (see yesterday's post) were completely to blame for the GFC, not entrepreneurs nor business owners. I folded my development business a fortnight after Lehmans when liquidity ran out, not because we hadn't made stonking profit and paid £millions in wages and tax for a decade or more (when Labour used to promote growth). 

As it is there is zero incentive to start a business in the UK these days.

We can't all work for the state you know.  

Luckily I'm on my glidepath out, as you know.

I genuinely wish you nothing but luck.

That you don’t see the intrinsic interconnected nature of what you’ve posted above is where we view the world through a different lense - or optic - if you will. 

And you do seem to forget, remarkably, you were so sure in your wisdom of Brexit releasing us from these shackles, that you shared them with the same vigour.

And, here we are.

[Protheroe]

And Labour needs to deal with the world as it is, not how they would like it to be.

Government never created any wealth, it relies on individuals to do so - yet gives them no incentive to do so.

Labour simply doesn't understand incentives.

They have removed the incentive to save in a DC pension. They have created an incentive to empty your pension pot as quickly as possible at 20%. They have disincentivised asset sales and reinvestment into new ventures. They have disincentivised downsizing to free up family homes for younger people. They have disincentivised investment in agricultural holdings. They have disincentivised the extraction of oil & gas, so we buy it from Norway instead.

Because of this Labour will eventually have to turn to tax middle class PAYE employed families again. Those least able to escape their tax grabs.

It was ever thus. As sure as the sun rises in the East Labour will tax the middle classes, increase inflation and unemployment. At least they're consistent.

[tHEgLASSdOORS]

People recycle “wealth”, they don’t create it. Pension pot already emptied ahead of time. I admire the optimism your suggestion to invest in ten year bonds. In the world we live in now, I’d be on a rocket path to enjoying what you have when you can. Put the glider in storage.

[Protheroe]

People recycle “wealth”, they don’t create it. 

Oh please. There's not a fixed pot of wealth you know.

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I admire the optimism your suggestion to invest in ten year bonds. 

Interestingly, the market is falling over itself to buy 10-year UK government bonds at the return on offer. The problem for us is very much the longer dated stuff.

I won't be buying either FWIW.

[man in the corner shop]

Lord Rose has spoken!
He says crossing fingers doesn't work.

Lord Rose said: ‘When the circumstances change, then you have to change your actions. And this government came in and said that it would actually bring growth as its number one priority.

‘We have got no growth in the economy. If you have no growth in the economy, you're not creating any wealth. If you haven't got any wealth, you can't put into the nation the services that voters want and voted for. So, we've got to change tack.

‘There isn't a direction of travel. There is no travel. We're not travelling anywhere. We're actually standing still in a lay-by while we decide what to do. That's the real problem"

The grown ups, eh?

[man in the corner shop]

At what point do Labour MPs decide to rescue their party - and their seats - by evicting Starmer and Reeves? When voting intention figures fall to 19%? 15%? 10%?
(Last week they stood at 21%, and have prob fallen since)
The longer they leave it, the harder and less plausible the recovery will be.

McFadden and McSweeney also need to go. So much for the grown ups being in charge. Spotty teenagers would do better.

[tHEgLASSdOORS]

At what point do Labour MPs decide to rescue their party - and their seats - by evicting Starmer and Reeves? When voting intention figures fall to 19%? 15%?  10%?
(Last week they stood at 21%, and have prob fallen since)
The longer they leave it, the harder and less plausible the recovery will be.

McFadden and McSweeney also need to go. So much for the grown ups being in charge. Spotty teenagers would do better.

Not sure what Eastenders and Brookside has to do with this pal

[man in the corner shop]

Arf
Them Emmerdale fuckers need to get out of the woolpack and all. Shirkers.

[Protheroe]

OBR about to blow a £60bn Black Hole in Reeves plans. Apparently productivity isn’t increasing particularly in the public sector, who knew?

And straight from the Trump playbook Labour MPs are calling for the OBR to be abolished.

You literally can’t make this shit up.

[Protheroe]

The unexpected the contraction in the economy of 0.1% may be so small as to be a rounding error.

However it's clear that growth on any worthwhile scale is dead for now. Buried by Rachel Reeves.