Polly\’s economic solution

This is going to be good, isn\’t it?

Europe\’s impasse needs new purpose, after the old economic certainties helped cause this cataclysm. Even if the EU scrapes through, that\’s not enough. What then? François Hollande and Ed Miliband are calling a summit of social democrats this autumn to challenge dogma and forge a growth and jobs programme for construction and investment. Keynesian parties need to draw Europe-wide strength and credibility by working together. Hollande proposes a £120bn redirection of EU funds to an emergency growth programme:

This isn\’t going to help Spain you know, an investment and infrastructure boom. What they\’re suffering is the fall out from the bursting of the previous such boom. There\’s a million empty houses, 50 odd airports built and unused, museums and civic centres all over the country built and bust.

Infrastucture spending just isn\’t going to help in this case.

Germany imposed a solidarity tax to pay for reunification, taxing incomes, wealth and property. Britain has barely touched the abundance of its vast undertaxed wealth. This government can never rally the nation to unite in a crisis after hitting the weak hardest, with wealthy lifestyles remaining unchanged. The coalition may well fall apart sooner than expected: Labour needs to stand more ready than has yet been the case, with a radical alternative – easier to do as part of a Europe-wide appeal. In wartime bonds are issued to finance a national emergency by encouraging (or, from the rich, coercing) investment in a time of crisis. What Europe needs to escape slump is a war footing – but this time without the war.

The problem with war footing type of talk is that the populace needs to be convinced that we are a) fighting a war and b) that it\’s one worth fighting, c) that it\’s possible to win.

And to be honest I\’m really not sure that people are going to think that the saving of the pan-European jams, jellies, marmalades and sweet chestnut purees regulations is a war, worth fighting or worth winning. Quite the contrary in fact: there\’s at least one person out there who believes that it\’s worth figthing an economic war against the very thing that the pe-E j,j,m,scp regulations represents.

19 comments on “Polly\’s economic solution

  1. Best comment I heard about Hollande was on 5Live yesterday. A German commentator was asked about Hollande’s tax and spend proposals to which the commentator replied:

    “It is all very well for Hollande to read page one of Keynes. But he also needs to read page two”

  2. When the reason for taxing me is to prevent some foreign nation from invading and enslaving us all, I’ll pay up happily. Invading hordes tend to be a bit difficult to oppose single handed.

    But if the reason for taxing me even more than I’m currently taxed is to pay some 55 year old Greek’s pension, or fund his 13th salary payment of the year, you can f*ck right off.

  3. Jim, +100. Quite so. Also why pay to fund public sector pensions which are much better than mine.

    European countries despise us anyway. What do we have to lose? We could give them billions and they’d still despise us. Fuck ’em.

  4. Nrt, yes Progressiveism depends on a perpetual crisis, or series of crises.

    “Something must be done!”

    They often engineer the crisis in the first place, or invent it.

  5. The French have decided to give Hollande a majority in the Parliament too. They clearly can’t wait to become Argentina.

    All is looking well for my cunning plan to return Aquitaine to the British Crown……

    And I think I can say with some certainty that my plan for economic recovery – war with France – has not only a track record of success, it is nowhere near as stupid as Polly’s.

  6. I don’t se how cuts of £120bn followed by an increase in spending of £120bn will represent a growth package at all….

  7. From that link UK Lib provided:

    “Spains citizens are naturally nervous, anxious and increasingly afraid. ”

    Well, that didn’t stop Snr Dago failing to keep an appointment yesterday without phoning or subsequently apologising. So, after some frantic log distance arranging an illegal, but in the past remarkably reliable, Romanian gets the job & the Spanish won’t get a sniff of tax. And if it’s anything like previous business dealings, Snr Dago will be invoicing for stuff to date as if it’s our fault. In my response, the expression “en culo” will appear prominently.
    Sorry, but as in so many dealings with the Spanish one’s left with an impression of overwhelming entitlement. They want the money but heaven forbid their busy & enjoyable social life is compromised. Can’t work out if it’s a legacy of the boom years or something deeper. Spain’s not that far away from its feudal past & a lot of the Spanish not much more than jumped up peasants. All the wealth goes the Dons anyway so do as little as you can get away with & steal what you can. Every time I open the paper there’s another mayor in jail. The local Guardia chief’s inside on drug running charges.
    The idea this country belongs in the EU alongside Germany & Benelux is a sick joke. Maybe Cataluna or Pais Vasco. They don’t seem to fear working so much. But Andalucia FFS? If it wasn’t for the Costa Fortuna place’d be third world.
    Chuck ’em out. Let ’em get themselves sorted. Maybe have another go with another generation.

  8. All is looking well for my cunning plan to return Aquitaine to the British Crown……

    Sounds good. We can claim back Elf from Total too, and relocate their La Defense headquarters away from Hollande’s grasping paws.

  9. ….When the reason for taxing me is to prevent some foreign nation from invading and enslaving us all, I’ll pay up happily. Invading hordes tend to be a bit difficult to oppose single handed……

    But when we are asked to pay to keep a foreign invasion from imploding, then the logic just does not stack up.

    The only real solutions to this crisis start with dismantling the straitjacket marked Brussels.

  10. Polly says “…the old economic certainties helped cause this cataclysm”.

    Like all devotees of the euro-religion, she won’t admit that the fundamental instability of the Euro project was always going to lead to a crisis and make any other crisis worse – not just for the eurozone, but also for the world.

    Barroso was saying much the same as Polly at the G20 today.

  11. “All is looking well for my cunning plan to return Aquitaine to the British Crown……”
    Judging by the last time I was down that way, I thought it already had.

    Saint-Antonin-Noble-Val in the Tarn et Garronne nestles against the sheer looming limestone cliff of the Aveyron Gorge. Local legend has it, when the English besieged & occupied the town in the C14th they were in the habit of slinging recalcitrant froggies off the top. If you stand on the bluffs, it’s easy to see how a well aimed Frenchman could be interred in the church graveyard without the inconvenience of needing a shovel. One does feel it’s high time some of these old sports were revived.

  12. @ #6, #10 and #13
    I’m not a historian but I did get a strong impression that Gascony, rather than the whole of Acquitaine, was continually pro-English, largely because we weren’t French and were not dragooning the northern Basques to pretend they were French. [I am not denying that Richard and the Black Prince had massive local support, nor that claret was a primarily English drink, just saying that the Gascons were our natural allies]

  13. Frances (#15), what would we want Calais for? It’s a dump, and it’s far more useful havin it part of France for wine duty purposes.

  14. One can usually assume that on being handed a stick Mrs Pollyby will reliably grasp the wrong end of it.i

  15. If you stand on the bluffs, it’s easy to see how a well aimed Frenchman could be interred in the church graveyard without the inconvenience of needing a shovel. One does feel it’s high time some of these old sports were revived.

    The Olympics in a few weeks – ideal opportunity?

  16. Tim Newman – “Sounds good. We can claim back Elf from Total too, and relocate their La Defense headquarters away from Hollande’s grasping paws.”

    That would be an excellent idea. Mostly because then for centuries generations of Englishmen can say “Your Elf is ours” in an obnoxious accent to any passing Frenchman.

    12flat tax – “Like all devotees of the euro-religion, she won’t admit that the fundamental instability of the Euro project was always going to lead to a crisis and make any other crisis worse – not just for the eurozone, but also for the world.”

    That is not fair. I definitely remember some Europhiles pointing out that the Euro would lead to a crisis. In fact I think I can remember fere Jacques Delors saying so. That was the point. They said it would lead to a crisis and that this was necessary to force Europe into the next stage of Union – a fiscal union.

    13bloke in spain – “Local legend has it, when the English besieged & occupied the town in the C14th they were in the habit of slinging recalcitrant froggies off the top.”

    What, all of them? Innocent times, innocent times. How good it would be for us to return to the simpler norms, the less complicated days of yore. When noble pursuits took young men out into the open air, to enjoy the environment and the great outdoors, while engaging in some healthy multicultural sporting events such as these. Makes you proud to be British.

    15Frances Coppola – “What about Calais?”

    I do think that if we are going to engage in a little light imperialism, we should aim for somewhere with good weather. And beaches. And decent wine. Calais strikes me as a vast car park in the drizzle attached to some awful megastore. But I may be doing it an injustice.

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