Daniel Hannan: Enough bailouts already

Daniel Hannan gives a speech in the European Parliament in May 2009. Daniel Hannan is Conservative MEP for South East England, blogs every day at www.hannan.co.uk and is author of The Plan: Twelve Months to Renew Britain; http://www.amazon.co.uk/Plan-Twelve-Months-Renew-Britain/dp/0955979900

Category:

News & Politics

Tags:

• bailouts
• Daniel
• Hannan
• Gordon
• Brown
• European
• Elections
• 2009
• Parliament
• banks
• EU
• devaluated
• primeminister
• government

[carolyncriss]

I'm going to go with Saturn's Rings. LOL. This man is sharp, funny, and a gifted speaker. He's definitely got a political future.

[averylbrooks]

Common sense... he better stop it now.. shssh

[skydome29]

@BomberAl123 Isn't that essentially what modern politics has become? I wouldn't view wandering eyes as grotesque self promotion, and really when your the opposition view in a large house chances are your not heard much.

[BomberAl123]

@skydome29 A) It's on the 'were' in "If that really were the better way of proceeding Mr. Chairman...". B) I think it's telling when somebody is using their function as a representative of the people primarily as a vehicle for self-promotion. It certainly affects my view of them.

[skydome29]

@BomberAl123 A) didn't see any change in glance from :40 to :50, nice try though and B) So what? It's called a democratic forum where opinions are heard from all spectrums and their wages are paid by the people, (a majority of who elected them), unless of course your not elected then the peoples wages pay for something they didn't get a say towards. Nice try, but that was a pretty shitty slander job, american senate-esque.

[jrobertsoneff]

Lost the cold war , Russian pensioners get 9% of gdp we get 6% ,

[BomberAl123]

Love the glance to the camera at 0:45. He knows perfectly well that the sole purpose of this bite-sized speech is to go on his YouTube channel. He's got a nice little thing going as flag-bearer for the Eurosceptic right - a tidy little profit from his Telegraph articles and a more than tidy little profit from his books, and all the while taking the shilling from the institution he rails against.

[BomberAl123]

@antred11 Yes, I do disagree with that. If by money you mean the monetary base, then it can only be suctioned out of the economy by the central bank selling bonds - or of course by burning cash on a bonfire. If you mean the broad money supply then it can also be reduced by the financial sector reducing the supply of credit.

Actually, upon reflection, I don't think he's talking about Q.E. at all, but just government spending.

[antred11]

@BomberAl123 Let me reply to you with this quote of yours:

"Actually, the money is just created out of thin air. You may disagree with that but that's how it's done [...]"

Yes, that is indeed how it's done, but could it be any more obvious that in the long run, this CANNOT work? Creating money out of thin air devalues existing money, which is pretty much the same as "suctioning" it out of the economy. Do you disagree with that?

[BomberAl123]

@antred11 An excellent example of the kind of non-specific insult that abounds on Internet message boards, but it doesn't actually make any sense. How can my questioning Hannan's knowledge mean that mine is lacking?

There is absolutely no way that he could have made the comments that he did, and understand Q.E. He clearly sees it as a zero sum game - and it's not.

[antred11]

@Death2Fanboys What I don't get is how virtually everyone I've talked to is firmly OPPOSED to all these stupid bailouts. There certainly seems to be a vast majority of people who do not want any more bailouts, yet our leaders start bailout after bailout after bailout. God, I'm so sick of this crap.

[antred11]

@tinosnit It certainly devalues existing money, which is essentially the same as taking money out.