By increasing its borrowing and spending, the state absorbs excess private saving and recycles them back into the economy through wages, public services, income support, and investment. This prevents a collapse in demand and provides confidence that incomes and institutions will be maintained.
The Covid crisis illustrates this clearly. As private spending fell and precautionary savings surged, the UK government significantly expanded its deficit. In doing so, it did not “run out of money” or displace private activity. It provided the safe asset the private sector demanded and used the funds to sustain the economy, with the institutional support of the Bank of England.
He’s claiming that the Bank of England having to buy newly issued gilts – because no other fucker would buy them – is proof that lots of people wanted to buy newly issued gilts.
Tim
We’re all mentioned in one of his other posts!!
I’m astonished by how engaged people are here. And also, and I’ll be honest about this, how kind the comments are on YouTube. I didn’t expect that when we relaunched this channel. But, by and large, all this story about vile trolling does not seem to apply that much to what I’m doing here, and I’m very grateful for that.
Of course only trolls would dare commit the sin of questioning his wisdom….
I doubt it’s many of us. I’ve never commented on his blog. What’s the point? He’s immune to facts and reason and just blocks people.
That is certainly an incentive to spend all your dosh in a crisis yourself instead of letting the government pinch it!!
But what might have happened if the government had held its nerve and done some governing, if HM’s loyal opposition had opposed anything, if anyone had noticed that Tesco checkout girls had contact with hundreds of people every day and were not dying like flies and let the people deal with their own spending choices?
When the pandemic hit, I did not put my money into government debt. I put it into 888, which did well as people where doing more online gambling, Games workshop as a lot of men needed something to do, kingfisher as a lot of women thought their men needed something to do other than playing playstation, etc.
There was demand for stuff and if you purchased the right companies, you did well out of the pandemic. Certainly better than putting it into government debt.
The one idea that I had that did not do well was funeral directors. The mountains of dead people did not materialise.
Reform have a far worse record on economics than socialist labour.
George Cottrell is an advisor and fund raiser for Reform.
Hope Not Hate have criticised his actions.
https://hopenothate.org.uk/2025/04/02/posh-george-cottrell/
Reform are dangerous and extreme.
We hope.
But given Hope not Hate are effectively a front for ISIS and are arguably the most misnamed organization in the world given the level of hatred they foment of Whites, native Britons, Heterosexuals and other majority groups why does anyone give two shits what they think?
Do you call Farage Daddy as well?
Just because your real Dad did not buy you a pony you become right wing.
Some projection going on here I think. Speaking for myself, if I wanted a pony I would work at my job, save up a bit and buy one with my own money. Expecting the state to give you stuff is what lefties do.