Ambition

  Earlier, I was then again being the usual sulky self that I really am, also the selfish and unsupportive person I've been through these years. Since when did he began talking of his dreams and plans in the future like that? I was always not into the future thing, but he has all of it planned in his mind. Sure, I thought we'd stay like the kids we were before. But I have to admit, we're not getting any younger and we're having a child. It's absolutely not bad and shocking to think of the future at this very moment. I have to say I'd remained...

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www.gudanggrosiran.com Categories: Angst

Have Yourself A Merry Little Christmas, It May Be Your Last

Wartime cheerTyler's Mum was a great Judy Garland fan, so he's pretty familiar with the back catalogue. And this particular number from the 1944 film Meet Me in St Louis seems to sum up Xmas 2009 quite well. Especially with its original lyrics, which were so depressing they had to be toned down for Garland to sing in the film - play the vid and read along with the original below to see how comprehensively MGM wimped...

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www.gudanggrosiran.com Categories: slump

Priests Screw Up - We're Doomed

So they get 15,000 priests, 5,000 scribes, and 45,000 worshippers, cart them all off to the Great Pyramid of the Sun, and then screw up. No mass sacrifice. No bloodied beating hearts tossed down the steps. Just a bunch of weird attention-seekers thrusting themselves into the global pulpit whenever possible.I tell you, the Gods ain't gonna like this. ****What a shambles. If they can't even organise a £130m piss-up in...

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www.gudanggrosiran.com Categories: eco taxes, eco wibble

No Serious Economist Thinks

Pol was on BBC R4 Today this am with the indefatigable Ruth Lee. They were discussing the question of government debt and whether we might lose our AAA credit rating.According to Pol, the risks have been hugely exaggerated by the City and their groupthink apologists. She says:"No serious economist thinks Britain will default on its debt."Well now, let's just think about that.First off, we need to be clear about the meaning of default. When a...

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www.gudanggrosiran.com Categories: debt

Bubble Dependency

As we noted last week, the government's projections of tax revenue rest on some wildly optimistic assumptions. And none more optimisitic than what they are apparently assuming on house prices.The chart shows what the Pre-Budget Report projected for total tax receipts from the housing and finance sectors combined (see here). Receipts have slumped since the onset of the financial crisis, but by 2014-15 they are projected...

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www.gudanggrosiran.com Categories: debt, housing

Signposts From Ireland

There must be some way out of hereLast week, the Irish government unveiled the toughest budget in the country's history. It was effectively the third budget in one year.The centrepiece comprised further spending cuts, focused on two areas which had already suffered previous cuts - public sector pay and welfare payments. On pay, there will be reductions of between 5% and 15%, plus additional savings on public sector pensions. On welfare, there...

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www.gudanggrosiran.com Categories: cuts

Government By Deceit

Deception all roundBliar's last Director of Public Prosecutions is now back practising law with Cherie at Matrix Chambers, the operation he set up with her in the late 1990s. A long-time Labour insider, he was appointed DPP in 2003 just after the invasion of Iraq, but it seems he's finally recognised a horribly inconvenient truth:"The degree of deceit involved in our decision to go to war on Iraq becomes steadily clearer....

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www.gudanggrosiran.com Categories: politicos

News From BOM Correspondents - 22

Absolutely fabulous darlingIt's been a while since we did a correspondent round-up, so here's a quick selection:1 Latest from Stoke on TrentThe terminally awful Stoke City Council has featured on BOM several times (eg here). Among its other triumphs was the decision to close its only properly functioning secondary school on ideological grounds (see here). Now Tom W draws our attention to the following:"Concerns have been raised over why a firm was...

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www.gudanggrosiran.com Categories: News

Labour's Debt Explosion

When the unelected idiot Brown took over in 2007, the UK's official government debt stood at 47% of GDP. By the end of 2011 it will be 94%, a literal doubling over just four years. Under his incompetent management, the UK will have clocked up the biggest increase in debt of any major OECD economy.So says the OECD itself in its latest World Economic Outlook (see here Annex Table 32). But remember: the OECD's debt measure excludes most...

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www.gudanggrosiran.com Categories: debt, Gordo

More Of Your Cash Wibbled Away

I'll give you £1.5bn if I can wear the Big HatNever mind that we are stoney broke, the arrogant unelected clown masquarading as our PM has just blown another £1.5bn of our money in an attempt to buy himself some international status:"At an EU summit in Brussels, the Prime Minister offered to pay the money into an EU fund intended to help poorer countries to cut their carbon emissions. The offer will make Britain the largest contributor. France and...

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www.gudanggrosiran.com Categories: eco wibble, Gordo

Fiddling While Blighty Burns

There goes our future prosperityThe Pre-Budget Report (PBR) has to be one of the most disreputable documents ever to emerge from HM Treasury - and that's against some pretty stiff competition over recent years.As we blogged here, it failed on all three critical counts:Borrowing - no progess on reducing it fasterTaxes - higher taxes on jobs and a risky low yielding tax on bank bonusesSpending - unbelievably, spending was actually increased...

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www.gudanggrosiran.com Categories: cuts, fiscal policy

Way Too Optimistic

The fiscal projections in yesterday's PBR - just like last April's budget - rest on economic growth assumptions that are ludicrously optimistic.Here is the relevant table from the PBR (click on image to enlarge):As we can see, GDP growth is assumed to bounce back in very short order to reach 3.25% pa from 2011-12 onwards. Over the five year forecast period from 2010-11 it is supposed to average 3% pa.Yeah, right. In a world of over-indebtedness,...

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www.gudanggrosiran.com Categories: black holes, fiscal policy

What A Shocker

Labour's final Pre-Budget Report (PBR) was a real shocker. Key points:Borrowing - no action to cut borrowing faster than the leisurely pace set out in the April budget, and the Treasury forecasts rest on the ludicrously optimistic assumption that our GDP growth rate will soon return to 3.25% pa; the UK has been left as the developed world's borrowing basket case, and a catastrophic capital flight is that much closer.Tax - no action to cut taxes in...

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www.gudanggrosiran.com Categories: cuts, politicos

World Basket Case? It's Us

When Darling stands up at lunchtime to deliver his Pre-Election Budget Report, he will doubtless repeat the old formula about how they're innocent victims of global circumstance. The reality is that Labour have dropped us into a fiscal hole bigger than that of any other OECD member - including the supposed basket cases of Ireland, Iceland, and Greece.Here are the OECD's lastest borrowing league tables for 2010 and 2011...

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www.gudanggrosiran.com Categories: Budget, fiscal policy

Wonderful Wonderful Copenhagen

The biggest bunfight in world historyNo time for a proper blog today, but as you watch the wall-to-wall BBC/C4 coverage of the Copenhagen grandstandingfest, we wanted to make sure you've got the TPA's analysis of the costs in front of you (see TPA research note here, and Mail article here).Overall, the direct cost to taxpayers is estimated at £130m. This comprises the travel, accommodation, food, and salary costs of the 15000 - yes,...

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Looney Tunes

So after 12 years incinerating mountains of our cash, this high spending low performance "government"  wants to tell us it can be more efficient. To be frank, I can't be bothered to read Brown's speech. In essence he's after the same headlines the Tories got months ago - a crackdown on public sector fatcat pay, cuts in top civil service jobs, and cuts in the use of consultants (yes, all these items were identified long ago by the TPA - which just goes to show what conviction and persistence can achieve). On top of that, Brown...

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www.gudanggrosiran.com Categories: cuts, gershon

Pre-Election Budget Report - Those Treasury Leaks In Full

BOM sources inside HM Treasury have smuggled out key passages from Wednesday's Pre-Budget Report. Quote:Growth - due to unforeeable global circumstances entirely beyond the government's control, GDP this year may have fallen by somewhat more than the 2.75% decline forecast in April's Budget. But next year and forever after, growth will be much much stronger - the central estimate is now 7% pa, reflecting the fruits of the government's...

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www.gudanggrosiran.com Categories: cuts, politicos

The Joke Is On You

A life of privilege In case you've never heard of him, comedian Marcus Brigstocke is yet another privileged public schoolboy* employed by the BBC. His routine comprises slagging off capitalism and the Evil Tories. Among his other BBC jobs, he has a regular slot on R4's Now Show, a weekly 30 mins of "comedy sketches and satirical comments". And this week, after wittily describing John Redwood as a "glassy-eyed replicant MP",  he spent...

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www.gudanggrosiran.com Categories: BBC, humbugs

Flat Earthers And Assholes

OK, it's warmer... but why?Two, ahem, thoughtful contributions to the climate debate yesterday:"With only days to go before Copenhagen, we mustn't be distracted by the behind-the-times, anti-science, flat-earth climate sceptics. We know the science. We know what we must do. We must now act." (Mr G Brown, a public employee with a direct career interest in extending the role of the state)"What an asshole." (Professor Andrew Watson, a public employee...

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www.gudanggrosiran.com Categories: eco taxes, eco wibble

New Friendster

Matagal-tagal na nung huli kong gamitin ang browser para gumawa ng blog post. At dahil kawawa naman ang page na ito e naisip ko namang lagyan ng December entry para makumpleto ko lahat ng buwan sa 2009 (first time yata to sa blog na may isang taon na kumpleto lahat ng buwan). Hindi ako makatulog kaya binuksan ko ang Facebook at doon ko nabalitaan ang bagong look ng Friendster. Kaya naman naintriga ako at ayan, naging berde na nga ang dating gray na smiley logo at nag-iba na ang smiley. Parang cursive na ewan na sa unang tingin ay akala ko neon...

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www.gudanggrosiran.com Categories: Web/Tech

Rich At Our Expense

PurrrrrrrrBy a strange coincidence, this year's Public Sector Rich List from the TaxPayers' Alliance is published just as the row over bankers' bonuses explodes once again.The Rich List first. This year, the TPA has discovered 805 public employees earning more than £150,000 pa (and that excludes local authority employees, who are covered in the TPA's companion study, The Town Hall Rich List). Among the "highlights" (data relates to 2008-09):8 people...

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www.gudanggrosiran.com Categories: bank bailouts, bankers, eco wibble, public sector pay

Ken Puts His Finger On It

The man who sorted us last time*Ken Clarke holds a number of views we don't share, but all things considered, he was a pretty reasonable Chancellor. Indeed, from the vantage point of today's blackened economic crater, his famous Golden Legacy looks a little more golden with every passing day. If only he could have stayed at the controls. If oooonly.So when he speaks about matters fiscal, we always listen. And he's just put...

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www.gudanggrosiran.com Categories: fiscal policy, politicos