Ed Miliband relaunch interview with Andrew Marr, part1/2 (15Jan12)

Part 1 of 2: On the week that Ed Miliband attempted another relaunch of his party leadership, he is interviewed by Andrew Marr.

Recorded from BBC Andrew Marr Show, 15 January 2012.

Category:

News & Politics

Tags:

• ed
• miliband
• labour
• party
• leader
• relaunch
• re-launch
• interview
• bbc
• andrew
• marr
• show
• 15
• january
• 2012
• uk
• economy
• economics
• recesion
• government
• spending
• borrowing
• jobs
• employment
• public
• private
• sector

[balearicsoundwave89]

god bless the black economy,i make thousands.

[badvariance]

.. And dont get me started on the manipulation of interest rates, which is essentially the governments fault, and caused the housing bubble. And dont get me wrong, this isnt right or left. I am libertarian, and i basically think people have no choice in this country. Whoever you vote for, you get the same. So at the end of the day, its mostly bollocks really. Its just semantics really, we will get the same results under labour/conservative.

[badvariance]

@arthmus01 .. lend it out again and as such will give you interest on it, which accounts for the proportion of profits. The whole system is messed up when everything becomes intertwined. And then the banks realise they are too big to fail, so can basically be as reckless as they want. If they fail, they get bailed out. If they dont, they make massive profits. The way the current system is, there is no downside to them being wreckless.

[badvariance]

@arthmus01 Well the way banking started out, it was a valuable service. It was originally started as a way to protect your money IE better than hiding under your bed. You would pay the bank to actually keep your money safe.The whole thing got messed up when all the money was allowed to be pooled together and used for investment purposes and fractional reserve lending. IMO you should have two types of banking. One where they store your money. Another where you invest it in the bank and they...

[arthmus01]

@SuperCUNextTuesday Manufacturing is essentially turning low value resources into higher value products, again creating wealth resulting in growth. A products value is not finite, due to the laws of supply and demand a commodity can have greater value in another country. So growth can be enhanced by selling abroad, but it is not essential to create growth. Banking is a prime example of re-cycling money, it produces nothing and profits solely at a cost to someone else.

[arthmus01]

@SuperCUNextTuesday You create growth by production, it has nothing to do with selling, domestically or otherwise. For example a plot of land is a worthless commodity, assigned value based purely on it's potential. You remove resources from that land that have a greater value than the land itself (ironically by employing people to dig ditches), you create wealth and therefore have growth.

[badvariance]

@arthmus01 Maybe we should just employ people to dig ditches, and other people to fill them in. Thats the crux of your economic argument lol. Everyone would be employed, wouldn't it be great!

[badvariance]

@arthmus01 watch?v=vXkHdB_61bQ

[badvariance]

Labour growth is not real growth. Its spending borrowed money and then going "look GDP has gone up, isnt that great". Thats not real growth. Its like looking at a business statement, seeing than income has gone up, but so has liabilities. Its only looking at half the coin.

[badvariance]

@SuperCUNextTuesday Yep in short, its malinvestment and socialism getting involved in capitalism.