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(New Statesman)   The rats are jumping over the side of the ship. Specifically the supply side of the ship   (newstatesman.com ) divider line
    More: Amusing, University of York, credit ratings, Ed Balls, capital expenditures, New Statesman, public investment, London Stock Exchange, LSE  
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3414 clicks; posted to Politics » on 16 Aug 2012 at 12:31 PM (4 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



27 Comments     (+0 »)
 
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2012-08-16 12:32:20 PM  
Why those dirty rats...
 
2012-08-16 12:36:20 PM  
wow who would have guessed that supply side economics are bunk?

oh wait, everyone with half a brain and the most rudimentary knowledge of history
 
2012-08-16 12:36:48 PM  
And it might actually happen. For all their ideology, British conservatives are still occasionally able to take reality into account, whereas the only reality American Republicans acknowledge these days is donor dollars and the ballot box (and in many places, they're working to banish even the latter specter from their nightmares...)
 
2012-08-16 12:36:59 PM  
Osborne's weren't the best at multitasking. The electorate should have known that it would need to finish its currently running program before starting another.
 
2012-08-16 12:38:57 PM  
i187.photobucket.com

"Eat it, biatches."
 
2012-08-16 12:42:23 PM  
Supply side tactics is basically a way of getting more resources into the hands of the producers, right? Because, vis-a-vis first semester Economics 101, that would drive prices down for those down the chain? But basically it just means that the producers will invest their resources elsewhere because no one is able to afford their stuff in the first place? And that this was basically the plan from the very start?

How was this considered a good idea, ever?
 
2012-08-16 12:43:51 PM  

Scorpitron is reduced to a thin red paste: How was this considered a good idea, ever?


Depends on who thought up the idea. If you're a member of the oligarchy, it's a farking fantastic idea for your bank account.
 
2012-08-16 12:46:43 PM  
All supply-side proponents did in Europe was prolong the unstable welfare state they seek to end.
 
2012-08-16 12:46:57 PM  
I'm confused. What does the Queen have to say about this? I thought she was in charge.
 
2012-08-16 12:47:45 PM  

Mercutio74: Scorpitron is reduced to a thin red paste: How was this considered a good idea, ever?

Depends on who thought up the idea. If you're a member of the oligarchy, it's a farking fantastic idea for your bank account.


i187.photobucket.com

Greenspan + Rand = unmitigated disaster
 
2012-08-16 12:48:59 PM  

Duke Phillips' Singing Bears: I'm confused. What does the Queen have to say about this? I thought she was in charge.


Leave Elton John out of this, he only has a cursory knowledge of macroeconomics.
 
2012-08-16 12:50:08 PM  
too british; didn't read
 
2012-08-16 12:57:00 PM  
Hm, how to stimulate growth? I know, budget cuts!
//facepalm
 
2012-08-16 01:04:27 PM  
God damn that conservative Obsorne!

upload.wikimedia.org

/he's racist against the spiderpowered-enabled!
 
2012-08-16 01:06:45 PM  
The big problem for these economists is that, basically, nothing has changed since they originally supported Osborne's calls for austerity.

Their changes of heart, like their original opinions, are all based on politics, not economics. They were wrong from the start.
 
2012-08-16 01:11:06 PM  

tlchwi02: wow who would have guessed that supply side economics are bunk?

oh wait, everyone with half a brain and the most rudimentary knowledge of history


No kidding.
 
2012-08-16 01:15:10 PM  

Scorpitron is reduced to a thin red paste: Supply side tactics is basically a way of getting more resources into the hands of the producers, right? Because, vis-a-vis first semester Economics 101, that would drive prices down for those down the chain? But basically it just means that the producers will invest their resources elsewhere because no one is able to afford their stuff in the first place? And that this was basically the plan from the very start?

How was this considered a good idea, ever?


Because of real Americans, that's why?
www.websters-online-dictionary.org
 
2012-08-16 01:17:25 PM  

Duke Phillips' Singing Bears: I'm confused. What does the Queen have to say about this? I thought she was in charge.


Is England still a monarchy like the nation of Africa?
 
2012-08-16 01:18:31 PM  

tlchwi02: wow who would have guessed that supply side economics are bunk?

oh wait, everyone with half a brain and the most rudimentary knowledge of history


Supply side economics is debunked in every Macro Econ 101 class when you read the chapters on velocity and marginal propensity consume.
 
2012-08-16 01:22:22 PM  
Would someone please smack this smug jackass upside the head:
www.history.fas.harvard.edu

And then explain to him why he's wrong?
 
2012-08-16 01:25:54 PM  

mrshowrules: Duke Phillips' Singing Bears: I'm confused. What does the Queen have to say about this? I thought she was in charge.

Is England still a monarchy like the nation of Africa?


There are few differences between England of today and the way they were 700 years ago. If tomorrow the Queen says, "off with your head", then your head is coming off.

Supply side economics just says the problem with England's economy is that the Queen isn't getting enough of the taxpayer's money.
 
2012-08-16 01:30:04 PM  
"Stimulating growth"? Holy crap, the UK really has turned a page here. I thought they were content watching as their economy crumbled in the name of upholding their economic religion.
 
2012-08-16 01:55:26 PM  
FTA: It is now only Osborne's political pride that is preventing a change of direction. Borrowing for growth would be a tacit admission that his nemesis, Ed Balls, was right and he was wrong.

I know they're from the UK, but I still laughed at this guy's name.
 
2012-08-16 03:19:33 PM  

Scorpitron is reduced to a thin red paste: Supply side tactics is basically a way of getting more resources into the hands of the producers, right? Because, vis-a-vis first semester Economics 101, that would drive prices down for those down the chain? But basically it just means that the producers will invest their resources elsewhere because no one is able to afford their stuff in the first place? And that this was basically the plan from the very start?

How was this considered a good idea, ever?


farking awesome login, you has it
 
2012-08-16 09:14:57 PM  

tlchwi02: wow who would have guessed that supply side economics are bunk?

oh wait, everyone with half a brain and the most rudimentary knowledge of history


George Bush senior for one. He called Reagan's supply side policy voodoo economics.
 
2012-08-16 09:18:25 PM  

Mithiwithi: And it might actually happen. For all their ideology, British conservatives are still occasionally able to take reality into account, whereas the only reality American Republicans acknowledge these days is donor dollars and the ballot box (and in many places, they're working to banish even the latter specter from their nightmares...)


I think you're only partially right about that. Many of them really are ideologically driven - they actually believe in the nonsense they ooze from their pie holes. They know their policies will screw the poor but they don't care because they also think it will add some extra percentage points to economic growth.
 
2012-08-16 09:20:04 PM  

Scorpitron is reduced to a thin red paste: Supply side tactics is basically a way of getting more resources into the hands of the producers, right? Because, vis-a-vis first semester Economics 101, that would drive prices down for those down the chain? But basically it just means that the producers will invest their resources elsewhere because no one is able to afford their stuff in the first place? And that this was basically the plan from the very start?

How was this considered a good idea, ever?


I don't think it was the plan from the start - I think the geniuses behind supply side economics didn't think it out very well.
 
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