Some of our number remember the early days of Atlee's Labour 'National Recontruction' government.
What this Labour government achieved after the most destructive world war in history was phenomenal.
However, possibly the majority of voters were reluctant to lose the Empire, were avidly racist and supported 'capital' punishment.
Nationalisation and the re-structuring of schools had majority support but the Royal Wedding at taxpayers' expense ushered in an unlucky thirteen years of Tory rule.
Even then, following Suez, the discrediting of UK education and science, and the Profumo Affair, Lord Home and his Old Etonians almost made it.
Immigration and war worked for the Tories because a considerable number of voters are swayed by such matters.
However, if this Tory government starts being too strict as Nanny - penalising 'fatties 'and school truants, enforcing more frequent signing-on visits for the unemployed, praising the enthusiasm for work exhibited by Eastern Europeans, Labour may benefit from the fear factor.
Alastair should have kept his trap shut But then, so should quite a few ministers who have signed the 'Official Secrets Act".
Surely, Baroness Eliza Doolittle signed such a document when she claimed her pension from the taxpayer.

Scotched

I think someone will be pulling the head off it tonight!!, and not just to your pictures of Gideon and Flashman!!!, to be called an arsehole from someone like you, i would take that as a compliment!!.

Newstatesman

Can you post my last comment please or expalin why sensored it.

Thank you.

Luddite

Not sure if you will get this comment. My last response to you was sensored. It was not an offensive response but I added an additional comment directed at the Traitors within the Labour party. Well here is to hoping you will get this one.

I take your point but some of us choose not to let our dis-illusion manifest in destruction of the party. The only people who will gain from the way you want to destroy the party are them CON-DEMS. They certainly will not deliver what you want.

Do you agree or are you a Tory in disguise?

@Lady J
Yes I get mine sensored too.

I have experimented and found 'L abour', 'P ublic' and 'U nions' are automatic blockers if they occur too often in a post but they probably have a list of others too - so would find other words. Watch it if you post with 'U ni on 's mentioned as it can initially show in the blog but gets filtered for review - I've had some subsequently deleted for it. NSW must find it a difficult area for some reason - if they dont want two sides of the debate then they should give up and tranfer to Labourhome.com. More posts means more marketing revenue and a better NSM.

john P
'Ideological nonsense. Government 'debt' is completely different to household debt. As a monopoly producer of currency governments don't borrow to finance spending since their spending isn't revenue constrained. '
what are you talking about? this sums up a swathe of idiots who think they know anything- I D I O T S

Until Labour give specific proposals and costings to their deficit proposals, (in addition to the mantra of the taxing the bankers more, who they watched create havoc anyway and rewarded with knighthoods), it will have no credibility whatsoever. Platitudes, opposition to all cuts may go down ok in core area between elections, but nationally it will lead to a very long period of Opposition.
Brown was a useless Prime Minister and Miliband is a very moderate leader. The Labour Party is going nowhere under him and Balls is a severe handicap.

'Intrinsically, a sovereign government issues the currency so it is never revenue constrained'
that maybe how the system evolved in banking, but it's wrong fundamentally JohnP- it's one of the reasons we have a crisis, as evidenced by what we then get;
'In other words, “changes in deposits are seen to drive bank loans”.

MMT has provided a comprehensive challenge to that view of banking based upon a thorough analysis of how banks actually operate and practical experience of banking which reinforces the conceptual development.'
again, just cos the system devloped such that this is the case dosen't make the system righy- and indeed relying on this aggravates things.
We then get this , which proves how dumb the system has become
'The important point is that when a bank originates a loan to a firm or a household it is not lending reserves. Bank lending is not easier if there are more reserves just as it is not harder if there are less. Bank reserves do not fund money creation in the way that the money multiplier and fractional-reserve deposit story has it.'
er, guess what the western banks are doing right now? why do u think they ain't lending? they are re-capitalising, because a load of bank treasurers, at the behest of a clown political class, completely forgot what business they were in. It's incredible that such nonsense cab actually be put forward- it's counterintuitive(as the man who writes it acknowledges), illogical, aided us into the mess and is now being put forward as a solution. Look at what asian central banks have been up to in the last 3 years, they are building up their capital adequacy ratios- look at why the canadian banls are dusting themselves down after the global explosion- u think any of them followed any of this nonsense?
the author acknowledges this at leats;
'At the individual bank level, certainly the “price of reserves” will play some role in the credit department’s decision to loan funds. But the reserve position per se will not matter. So as long as the margin between the return on the loan and the rate they would have to borrow from the central bank through the discount window (the worst case scenario) is sufficient, the bank will lend.'
He touches on why banking broke down- he has to acknowledge there is a price for money, but he confuses a system that makes money easy and cheap that leads to a bubble as proper banking.
the proof being in the conclusion;
'quantitative constraints on bank lending should be de-emphasized. Even if one accepts the notion that deposits fall in response to tight policy, banks nowadays are able to easily access wholesale money markets to meet their funding liquidity needs … Importantly, since banks are able to create deposits that are the means by which the non-bank private sector achieves final settlement of transactions, the system as a whole can never be short of funds to finance additional loans'
There you have it folks- the solution is indeed to keep lending/borrowing , it simply can't go wrong having too much debt.
JohnP- Japan's SAVERS finance the governments debt- their multinationals provide plenty of work, the people then SAVE their money, they make do with a satndard of living many here would not accept. I lived there.

Lady J the party is over but know one wants to admit it!!

1% were you born retarded or was it a gradual process!!

Most the majority of County and Local Councils are Tory controlled and so the lack of road maintaince is down to them because the Counties control the money.
It s not up to the Opposition to present specific proposals as to deficit reduction. Ed has outlined how it can be done and te economy given a stimulus a kick start. A further QE3 may well help support the economy by giving it a breathing space in which to start growth.

Yup pretty damning... two people that were supposed to save the country ended up cocking up because they couldn't work togther and yet never quit to let someone else do it but instead decided to stay on and steal as much money as they could so the recession wouldn't affect them as much then come out and write a few books... what are the chances of the coalition being able to stick together?

JohnP

There I was thinking it was exactly what Darling was saying He should know what was going on. Here we are now with the bullying Gordon Brown's chief best bully mate as Shadow Chancellor, says it all.

I wish Indu Pendent would produce the trade figure for May 2010-Present, they make for extremely bad reading.

Isn't that correct Indu Pendent.

ALISTER DARLING AND THE REST OF THE TRAITOR BLAIRITES, LEAVE THE LABOUR PARTY NOW AND JOIN THE PARTY THAT YOU REALLY SUPPORT, THE CONSERVATIVES.

I think that darling is just trying to build his retirement fund. He's selling out his party fairly cheaply. Must be desperate!

His claim that Labour had no "credible economic policy" is a gift to George Osborne. AND?
p j wall: UP-SET mate!! Labour proved a great disappointment..

Lady J: Now who is Labour's.. true constituents?

Used to be the ultimate put-down, "Wasn't this chap a communist or some such in his youth?
May not have the same impact as in the good old days since Mrs T, in her early days, was surrounded by a fair number of ex-Commie Party trustees.
It's probably not fair to refer to Blairites as Limousine Liberals or Champagne Socialists but some of these individuals actually attend 'cocktail' parties and guest on luxury yachts - without canvas. At least Ted's yacht was powered by sails.
Have you tried booking for tea at the Ritz lately? A six week wait and there are four sittings a day. Yes, we know we're all in this together - but some more than others.
And wine auctions - just don't get us started. And what about all these wealthy senior folk travelling by coach in order that they can get away with paying half-fare.
Still, George, another youth who has come good, is fastening on to the the Non-Dom caravanserai who are obviously afeared of all the Law and Order on display in the Big Apple.

Darling, Je vous aime beaucoup!

swatantra nandanwar. No!! we have only ourselves to blame.
Lady J.. This is the only time my mask with slip.. Labour forget who they represented. Labour stopped been that fantastic party i was once proud to be apart of. Labour stopped listening to the genuine concerns of working people. Labour stopped being the people's party. So like millions of other working class Englishman. I simply walked away....

This lot drive me to despair. Only interested in settling their old scores not the party or the country.