Tuesday, 20 February 2018

The Tories are so short of ideas they're recycling Liam Byrne's 8 year old joke note again!


The Tory party are so short of reasons for anyone to actually support the Tory party that they're sharing ancient anti-Labour propaganda from eight years ago.

The first thing to note is that the notorious "no money" note from Liam Byrne was intended as a friendly joke with the incoming Tory administration along the lines of the "Good luck, old cock.... Sorry to leave it in such a mess." note from the former Tory Chancellor Reginald Maudling to his Labour Successor Jim Callaghan.

Then there's the fact that you'd have to be an absolute simpleton to actually believe that an assertion that there's no money left is a serious one, because the Bank of England can create money out of nothing whenever it likes (quantitative easing), and private banks create money out of nothing whenever they issue a loan, in fact the government only produces 3% of the money in circulation (coins and notes). So how can there be no money if the vast majority of money in the modern economy is simply magicked up out of nothing?

It's clear that "no money left" propaganda trope is the same kind of demeaning economic baby talk that the Tories' endlessly repeated "magic money tree" gibberish.

The fact that the Tories keep persisting with these demeaning economic fairy stories leaves us wondering whether they're so economically illiterate that they actually believe this rubbish, or whether they're so damned arrogant and elitist that they know it's absolute gibberish, but they view the general public as a hopelessly gullible bunch of halfwits who will believe literally anything they're told.

Then there's the fact that Labour are a very different party from what they were in 2010. Back then they were utterly dominated by the right-wing Progress faction who pushed ruinous hard-right policies like privatisation mania, corporate outsourcing, and bank deregulation. Now they've moved away from the hard-right neoliberal consensus that both Labour and Tory governments inflicted on the UK since 1979.

Then there's the Tory track record in government over the last eight years. We should all remember how they promised to eliminate the budget deficit by 2015, then failed so spectacularly that they're now projecting it won't be resolved until 2031. That's 21 years to achieve what they bragged that they would do in less than five! 

Any Tory with a grain of sense would be hoping people forget about what was going on when they came to power in 2010, rather than actively reminding people about it.

Aside from their pathetic failure to achieve their number one headline economic target, the rest of the Tory track record is lamentable too: The longest sustained decline in the value of workers wages since records began, massive trade deficits, an unprecedented collapse in UK productivity, the lowest levels of infrastructure investment in the developed world, ruinous austerity dogma, millions of children growing up in poverty while the Tories lavish handouts on their mega-rich chums, and the impending economic chaos of Brexit too.

It's quite extraordinary that the British public have eight years of woeful Tory economic incompetence to consider, yet the Tory propaganda unit imagine that all of this demonstrable failure can be trumped by nothing more that a ridiculous joke note from eight years ago. That's how much contempt they have for the general public!

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