Vince Cable on UK economy - more money printing (24July11)

[FraserJWhieldon]

Fuck off Nick, I want a proper leader to vote for!

[izMattz]

this man changed my life i would rape him but not anymore now that the bus fairs have gone up

[jackscht]

Sack at will.... Cable about to abolish workers rights.

Vince Cable = 'right wing nutter'

[nansir]

When are we going to learn that it is MONEY itself that is causing our problems. In order for things to have monetary value they must be scarce. That fact stops us from producing things like food and good housing in abundance, which we have the technology to do. It is time we changed and started working together. It is one world and we are all one. Google Zeitgeist Moving Forward 20011 and the Venus Project.

[chinonn1]

england shit, bitch Princess Diana's good that he died, he dies Queen Elizabeth Alexandra Mary nasty old bitch, get rich making war on other countries, I'm Mexican, up mexico

[simpleearthling]

@chinonn1 diana was female you dumb fucking spik

[darrenrooke]

if ever the time comes that people stop buying things they don't need with money they don't have the ponzi scheme will collapse

[Wulfyn99]

When one of the heads of business of the UK Government doesn't understand economics you have to be pretty pessimistic about the future.

[densaner77]

You should know all about "right wing nutters" Vince. You are in government with some of them!

[WezKitikonti]

P = 'Principle' sum of debt which is brought into circulation is subject to I = Interest % so when we pay I = Interest % out of a circulation at anytime only comprised of P = 'Principle' you are forced to re-borrow P+I again and again at an ever escalating rate creating irreversible and inevitably terminal multiplication of artificial indebtedness in proportion to capacity to pay.

[darrenrooke]

@WezKitikonti bingo

[WezKitikonti]

in 1983-4 mike montagne [google him] projected that the present pretended economies would engender their own failure at approximately 2010 AD.

[WezKitikonti]

The perpetual, concerted evasion of accountability before us therefore is no accident, it is instead a calculated, vital accessory to the most serious, arrogant, and repulsive crimes in history.

[tigranvartanovitch]

Fucking ugly, bald-headed lying scumbag. He wants to get people spending in the shops again, and he is going to do it by getting the "independent" Bank of England to cut people's spending power with inflation. Fuck him.

[ukpropaganda]

Every major politician in the western world is a crook working for the ruling elite.

[daviddalbylive]

Cable Vince and tell him that all the worthless paper/digital money is just a promise to pay backed by the commercial energy of the people. Banksters have no money that is why they want students to sign a promissary note so they can monetize it and lend the students their own credit at interest.

[coltrane1966]

Cable doesn't exactly get much of a grilling from the interviewer but maybe he's as stupid Cable.

[Mancunian786]

vince cable is a dumb shit

[NottinghamForest22]

hate vince cable.

[temporaldisplacement]

Call US senators nutters and suggest quantitative easing ....well done Vince ....your fired!

[AnnoyedDragon]

You know the public are ignorant as to what quantitative easing means, when someone can appear on national television; and say they plan to steal more of everyone's money. Inflating their savings away, increasing commodity inflation and lowering everyone's quality of life. 

[Talentz92]

@AnnoyedDragon yup u said it, a majority of the uk are very ignorant in terms of the economy

[StunnedByStupidity]

@AnnoyedDragon And I'm sure you are for government to re regulate the free market? So libertarians ('cos I bet that's what you are) had their way by allowing the lifting of restrictions like Glass-steagall it fucked up EVERYTHING and the solution? Let the global economy go down meaning the middle and working classes get completely fucked over by the devastation - you guys are PSYCHOPATHS. I take it taxing the fuck out the rich is fine? I bet a BILLION you are against this as well

[AnnoyedDragon]

@StunnedByStupidity What on Earth are you on about? How did you get all that from a comment about public ignorance regarding inflation?

I can only assume you are reading far too much into something that isn't there, or are a troll trying to provoke a defensive reaction from me.

[StunnedByStupidity]

@AnnoyedDragon Look the economy was screwed and you were saying that when business weren't lending then government should just stand back and let the global economy collapse - or am I missing something . One of us is confused - and I am sure it aint me... So your solution to the free market disaster?

[AnnoyedDragon]

@StunnedByStupidity I didn't say any of that, the comment was regarding public ignorance on inflation...

[StunnedByStupidity]

@AnnoyedDragon Ok, will believe you are kinda new to this and don't understand the politics. The chances are you got this stuff from the far right American libertarians (that doesn't mean that inflation isn't bad BTW) - who have a totally insane take on economics - even when all their theories get proved wrong. THEY blew up the global economy then have conniption fits that the government has to step in to clear up the JAW DROPPING mess they have created - they are complete loons...

[AnnoyedDragon]

@StunnedByStupidity You read something from my original comment that wasn't there, and now you are ignoring my repeated reference to what my original comment actually said. Continuing down your imposed meaning, rather than what it actually says...

I'm going to ignore you now.

[StunnedByStupidity]

@AnnoyedDragon Yeah you do that and ignore MY MUCH BIGGER AND IMPORTANT POINT...

[mphello]

@StunnedByStupidity BRAVO! AMEN! Rightwing extremist anti-communist anti-socialist libertarians are the world's greatest hypocrites. They preach sound bites against "communism', without having a clue what it is or what Karl Marx wrote about it. But, then they LOVE doing biz with and getting cheap goods from supposedly "communist" China. (I vote Socialist and Green whenever I can, and even *I* support nuking North Korea, Iran, Saudi Arabia, Peru and anywhere else freedom of speech is censored.)

[chillercm]

@AnnoyedDragon quantative easing could work and wouldnt neccessarily lead to commidity inflation. the pound is still considered a stable currency and living costs would still remain high in britain. it would just be a way of getting rid of debt by printing more money... there could be problems if its not done responsibly, but I think it could work in Britain, if it targets the right kind of debt. Remember Britains not america, the fed did this a lot at irresponsibly!

[AnnoyedDragon]

@chillercm Quantitative easing is stealing other people's money by diluting the money supply, and handing that newly created currency (and its buying power) to the money creator. There is no good, respectable, justifiable argument for the theft that QE causes. It rewards people who put themselves in debt and punishes people who try to do the right thing by saving.

The only people benefiting from QE are the debtors, the biggest of which; is our government.

[Wulfyn99]

@chillercm no it cannot. It's a myth that it will kick start the economy - the only thing it can do is fuel another artificial and unsustainable boom. The market has to correct itself by allowing malinvestment to fail, not to have it continually propped up. In the meantime the greater money supply will weaken the currency and also lead to inflation eroding savings. It also leads to greater government debt that further erodes taxpayers money through higher interest payments.

[Danster82]

Why are people stuck on the idea that a european union has to be the result of a monatary policy. You can still have an EU without it, as it is the scheming of the finacial elite and really has nothing to do with the union of the peoples of europe.

Questioning this guy for answers is madness he hasnt got a clue, that or he is deliberaltey portraying a fairytale.

[breadboi2067]

Print more money, that will fix everything.

[0muffins0]

3:19 The idiot thinks that consumer demand = economy. Silly, silly Keynesian.

[sopranosfan87]

@MrJrock331 You don know what your talking about. Vince was talking specifically about the 'Tea Partiers' Not pragmatic Conservatives. If the debt ceiling is not raised then America will face an economic armageddon and it will be humiliating for them. And Obama is not calling for tax hikes, he is calling for the Bush era tax cuts to the wealthy and huge businesses not to be extended so that they can pay down the deficit and not target low income families and pensioners. He is being reasonable.

[0muffins0]

@sopranosfan87 You don't cure a debt problem with more debt.

[sopranosfan87]

@0muffins0 Oh yeah because it's that simple. You think this debt problem started with Obama. It didnt, it started with Bush who drove up a huge deficit for huge tax cuts for the wealthy, thinking it would really get Americas economy going, it didnt though. If America defaults on its debts for the first time in its history then it will be much much worse than borrowing more in the short term. They have to do it for the good of the 'World' economy.

[0muffins0]

@sopranosfan87 The debts started to pile up before Bush and Obama. As I said, taking on ever larger quantities of debt will not solve the debt problem. It is just swapping a default now with an even greater default later.

You can't print wealth.

[sopranosfan87]

@0muffins0 So you know more than the leading Economists and the American government. The fact is even the Republicans agree that the debt ceiling should be raised. It's just that they would rather shred public spending to pieces to the tunes of Trillions which will hurt the 98% of the US public. Rather than end the unfair tax genorosity to the top 2% by ending the Bush era tax cuts. The public mood in the US is also squarely against the Republican party who are being reckless.

[0muffins0]

@sopranosfan87 The deficit for FY2010 alone was $1.7 trillion. If you want to balance the budget, you've got the choice between $1.7 TRILLION in cuts or tax rises. Continuing to borrow freshly printed money to cover the gap will just increase interest payments, and the amount of debt that has to be rolled over on an ongoing basis (paying one credit card with another), which doesn't solve the problem. In fact it makes a default more likely and bigger.

[MetaReaLizard]

Stop buying shit from the make shite - throw away shite economy.

[Graham6762]

The only actual solution is for Europe to stop de-industrializing and start building factories again so it doesn't have these trade deficits that it cannot pay. Because the Republicans in the US don't want to pay the whole budget to interest to international bankers he calls them nutters.

[erelpc]

And this guy is supposed to have a Phd in Economics...