Wednesday, 6 May 2015

The "there's no money left" argument


One of the most oft repeated "economic" arguments posited by Tory party supporters is the "didn't Labour leave a note admitting there was no money left?" question, which is often used in conjunction with the absurdly counter-factual "Labour bankrupted Britain" narrative.

The first thing to note about this question is that the note that was left by Liam Byrne saying that "there's no money" was intended as a joke, not as a serious statement of fact. The joke being a reiteration of the 1965 note left by the Tory Chancellor Reginald Maudling for his successor Jim Callaghan that said "
good luck old cock, sorry to leave it in a mess".
  
If the crux of your economic argument is a joke note written over seven years ago by a fool like Liam Byrne, then it's absolutely clear that you don't have the faintest regard for genuine economic analysis, and prefer to rote learn absurd economic fairy stories from the employees of right wing press barons like Rupert Murdoch (S*n, Times, Sky TV), Jonathan Harmsworth (Daily Mail, Metro), the Barclay brothers (Telegraph, Spectator) and Richard Desmond (Express, Star).

It's hard to believe that anyone could be credulous enough to believe that the proposition that "there's no money" was a serious and accurate one rather than a joke, but apparently lots of Tory supporters do, and even use it as the keystone of their argument in favour of reelecting the Conservatives!

It's hard to not feel like I'm being patronising in explaining what is to come in the next paragraph, but there are apparently a heck of a lot of Tories out there who honestly don't seem to understand this stuff.

The idea that there ever was "no money left" is a childlike fantasy. The United Kingdom has a central bank called the Bank of England that can just create new money out of nothing via a process known as Quantitative Easing. Since the global financial sector meltdown of 2007-08 the Bank of England has created £375 billion in this way. When a country has a sovereign central bank that can create new money, the idea that there is "no money left" is demeaning economic baby talk.

One of the things that this Tory reliance upon the 
"no money left" arguments illustrates is the incredible selectivity of the Tory mind. It seems that the Tory has perfect recall of events in 2010 when it comes to stupid joke notes left in the treasury by an embodiment of uselessness like Liam Byrne, but when it comes to all of the promises and predictions made by Tory politicians back in 2010, they've managed to completely forget them all.

They can remember Liam Byrne's stupid note perfectly, but they can't seem to remember stuff like George Osborne promising not to raise VAT (then raising it just 2 months later), David Cameron promising "no more top-down reorganisations of the NHS" (then launching the biggest top-down reorganisation in the entire history of the NHS), and they can't remember George Osborne predicting his ideological austerity experiment would have completely eliminated the deficit by 2015 (they now admit that it won't be eliminated until long after 2020).

Whenever you hear anyone use Liam Byrne's
 "there's no money" note as the crux of their economic argument, you can be absolutely sure that you're either communicating with an outright bullshitter, or someone who is an economic illiterate who prefers to rote learn their opinions about the economy from the pages of the right-wing press in lieu of making the remotest effort to actually understand economic issues for themselves.

   
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35 comments:

realitycheck297 said...

A Sovereign Central Bank eh, i.e The Bank of England. And who do you think owns that bank? And when it prints, (in reality creates digital money, how does that that affect the National Debt and the National Deficit? Who pays the massive amounts of interest that the Privately Owned Bank of England charges on the money it created out of thin air aka "Quantative Easing"?

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robetharmonton said...

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Kwin said...

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Rhiannon Van Ross said...

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Early this year when I first contacted you I was 1 year into a bitter divorce battle with my husband. I thought that my marriage and family was ruined. I found your site and breathed a sigh of relief although I didn't know how it worked. Not only did your Stop Divorce love spell work super fast for me, but you and your circle was there to help me and counsel me through every step of the process. You have helped me so much and I am happy to update you on our progress. My husband and I have reconciled and have since renewed our vows. We are stronger than ever. I am so happy that you were able to help me keep my family intact. Without you, I am not sure what I would have done. Are you out there experiencing the same problems in your marriage, then you can reach him on His website: https://perfectsolutiontemple.weebly.com Email: perfectsolutiontemples@gmail.com Telephone: +1 786 802-9512

Joyce said...

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Brittany Seiber said...

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 A friend that suffered from Herpes and was cure with the help of this great herbal doctor (Chief Lucky) so i decided to contact him for help in getting rid of my families genital herpes virus 1/2 which i did and all i was told to provide was just some useful information and some materials used in preparation of the natural cure and that i did and now i am the happiest person on earth because i am writing this testimony of mine with joy and happiness in my heart to the whole world to know that natural remedy is real because i am a living testimony of Chief Lucky traditional herbal cure and i want you all to contact Chief Lucky via his email: chiefdrlucky@gmail.com or WhatsApp him +2348132777335 am sure he will help you too.

John Keck said...

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james westley said...

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Dave Chan said...

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Frank Roland said...

I have be living with Oral herpes for over 4 years now and it has be a big problem for me.I have been looking for solution because i can't leave with it, One day i came across a woman testimony on a forum saying she got cured of her Herpes with the help of Dr Ojamo an herbal doctor from African with herbal medicine. At first i did not believe because i was not sure herbs can really take this virus away,but i have no choice than to give it a try and contacted him with his emails, i explain my problems,.. then he told me not to worry that he will prepare the a cure with herbal mixture and send it to me, i got the medicine after 4 days delivery and i use as instructed. After 21 days when the herb got almost finish i went to a medical doctor, i did a test and discover that the virus was gone, and my test result were HSV 1%2 negative,i was so surprise and happy! then i wrote Dr Ojamo and thank him for getting me cured from herpes. I advice you to contact this great herbal doctor Ojamo as he have cure for different kinds of diseases. i decided to share this testimony to let others who also suffer from herpes know about this and give hope to others, you can reach him via Email dr.ojamoherbalhome@gmail.com WhatsApp number +2349077406037

You can check on his website for more info https://drojamoherbalhome.wixsite.com/welcometodrojamoherb

Tanisha Sharell said...

Once again I want to thank Dr Odiagbe   for helping me with his herbal medicine to cure my herpes completely, i really suffered from this disease for the past 1 year, Right now I'm herpes negative after using the herbal medicine Dr Odiagbe   sent to me. I gave all thanks to God for leading me to Dr Odiagbe   who was able to cure me completely from herpes virus, Dr Odiagbe   you are the best traditional herbal doctor in the world God bless you sir. Dr Odiagbe on YouTube channel or whatsapp (+2349011108005) OR EMAIL DRODIAGBEHERBALHOME82@GMAIL. COM

Floritino Jani Renaur said...

People actually believe there is no cure for herpes due to what our medical Doctor do always say to us..but now i know that there is a cure for it Through herbal remedy' i was once haven herpes type 2  i contacted DR.ODUDU for herbal treatment and he prepared me some herbs which i takes for some couples of days, and i take it as he says before i am to no me and my boyfriend was perfectly cure for it and never experience it again. please friends if you have herpes virus and you really wants to get rid of it permanently, please contact this great DR.ODUDU for herbal treatment and you will get rid of it.. truly truly home remedies works perfectly. EMAIL dr.oduduherbalhome@gmail.com cell phone contact +2348101571054 his whatsapp contact is +2348101571054  https://www.facebook.com/DR.ODUDU

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Unknown said...

I saw a health promotion on a herbalist from Africa Dr. Ajayi who prepared herbal medicine to cure all sorts of diseases including HERPES VIRUS and many other illnesses, diseases and viruses in the body. I first doubted It was not true but decided to meet him on Email then he gave me the procedures and instructions on how to take the herbal medicine, and then i followed all what he said. I took herbal medicine for just 14 days. After that, I went to the hospital and retake a test three times in three different hospitals. My results were all negative, now I am living a happy life and will be getting married soon. my advice to you all is to kindly contact his email at. ajayiherbalhome@gmail.com or visit his website https://ajayiherbalhome.weebly.com also on WhatsApp +2348154724883 to order .My doctor is well trusted ,I'm completely cured from hsv2 trust me.

alexandra alana said...

Powerful Herbal treatment is 100% guarantee for HSV cure, the reason why most people are finding it difficult to cure HSV 1 or 2 is because they believe on medical report, drugs and medical treatments which is not helpful to cure HSV and hasn't proved any sign of helping. Natural roots/herbs are the best remedy which can easily eradicate herpes forever. I never believed it until I was helped and cured of my 16 months genital herpes with natural herbal medicines from Dr OBUDU. Where other medical prescribed drugs and treatments failed, Dr OBUDU natural herbs helped saved me from Genital herpes permanently and I’m so grateful for this. You can also get help from this great and powerful Herbalist Dr OBUDU by reaching him on whatsApp +2349023428871 also EMAIL: drobuduherbalhome@gmail.com or visit his website https://drobuduherbalhome.wixsite.com/welcometoobuduherbal

Unknown said...

I have be suffered from (HSV 2) for 2 years, I was given some tablets at the hospital but I refused to take it, They said I have to be on it for life so I don't want to take a drugs everyday for life. No point in taking medicine everyday when u won't get cure from it and I was advice to seek for natural herbal cure, after some time I found dr Sikies, he"s the most trustful herbalist that have herbs to cure wicked symptom's, I emailed Dr Sikies, for 2 weeks been his patient he cured my (HSV 2) with his herbal medicine. I only used his natural herbs for two weeks it was 100% cure. I'm not (HSV 2) patient anymore. I'm happy i finally got cured out of this mess been in my body for 2 years. I also recommend you if you're living with herpes virus i also want you to be free from it,contact Dr Sikies with his email attach to my write up.kindlyemail: drsikies@gmail.com/WhatsApp his cell phone number on +2348163430143
here is his website: https://drsikiesherbalcure.weebly.com/

MrsB217 said...

Hello viewers, I have been a victim of the Herpes virus for 6 months. One day i was in a mall when I meant a friend of mine that once knew that i was suffering from same problem with hers and she introduce me to a man called Dr Ehi that have cure her Herpes virus with the help of his traditional medicine I contacted him and he gave me the traditional herbal medicine to drink and after drinking it with his prescription he told me that after 2 weeks I will see the result of his traditional herbal medicine and today I am happy to say that Dr Ehi have used his traditional herbal medicine to cure my Herpes virus, and now I am happy to be alive life again today with my family, I am married with 2 kids, to all that feels my pain and will need to know more about this great traditional doctor here is his contact: shomorikaspelltemple@yahoo.com or WhatsApp him via +234 705 703 4263 i am sure he is the solution you have been waiting for so don't let this opportunity pass you by okay.

Michelle Huff said...

Greetings to the general public, I want to tell about how I was cured of
HIV disease by a Doctor called Dr. voodoo . I was browsing the Internet
searching for remedy on HIV and I saw a comment of people talking about how
Doctor voodoo cured them. I was scared because I never believed in the
Internet but i was convince to give him a try because i having no hope of
been cured of HIV so I decided to contact him with his email that was
listed on the comment voodoospelltemple66@gmail.com when I contacted
him he gave me hope and send a Herbal medicine to me that I took and
it seriously worked for me, am a free person now without problem,
my HIV result came out negative. I pray for you Dr. voodoo God will give
you everlasting life, you shall not die before your time for being sincere
and great men. Am so happy, you can also contact him if you have any
problem Email: voodoospelltemple66@gmail.com
or Add him up on WhatsAp +2348140120719