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Politics and Economics-2017 Election
Micawber
Posted: 13 June 2017 08:27:41(UTC)

Joined: 27/01/2013(UTC)
Posts: 1,974

Thanks: 964 times
Was thanked: 3430 time(s) in 1172 post(s)
QE was in fact inspired by the BOE which led the way.

Meanwhile I see that the unelected faceless bureaucrats in Brussels have abolished mobile roaming surcharges throughout the EU. How dare they impose that on our British companies... Monstrous...
2 users thanked Micawber for this post.
dyfed on 13/06/2017(UTC), Bellabeck on 13/06/2017(UTC)
jvl
Posted: 13 June 2017 09:19:24(UTC)

Joined: 01/04/2016(UTC)
Posts: 1,125

Prof Eman;47878 wrote:

What I teach my students is to...

http://www.telegraph.co.uk/news/2017/06/07/still-time-dear-millennials-see-truth-mr-corbyn-think/

"A recent Times Higher Education survey of university staff found that 92 per cent would vote for a Left-wing party: 54 per cent for Labour, 24 per cent for the Lib Dems, and 5 per cent each for the Greens and the SNP. The Tories were at a pathetic 7 per cent.

Social science and humanities departments have become giant, Left-wing think tanks, spewing out reams of unreadable, ideologically monotonous “research” calling for ever more government spending and intervention. With a few honourable exceptions, free-thinkers are no longer welcome, except in the hard sciences; it probably takes the average youngster a decade or so of real-life experience to begin to grow out of the academic brain-washing."
Jim S
Posted: 13 June 2017 10:02:38(UTC)

Joined: 08/12/2016(UTC)
Posts: 530

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Yeah, if only our over-educated pampered students could be free-thinking Daily Express readers working in McDonalds, grateful for their minimum wage because they live in the 'real' world, without time or energy to grumble about the rat race (except to blame Europe and migrants for low wages and crime of course). All that spare time students have to discuss irrelevant nonsense like what kind of world they want to live in just means they get brainwashed by all-powerful communist academics with hypnotic powers who seduce our youth with their evil ideology. Less education and more low paid work please.
1 user thanked Jim S for this post.
Tony Peterson on 13/06/2017(UTC)
Tony Peterson
Posted: 13 June 2017 10:41:39(UTC)

Joined: 10/08/2009(UTC)
Posts: 2,178

I am obliged to jvl for the reliable information that the most intelligent members of society favour socially progressive, free-thinking, and environmentally concerned political movements.

The obvious corollary is that the less intelligent members of society favour right wing parties like the Tories, UKIP BNP and suchlike.

A lifetime of observing my fellow humans confirms me in both views.

The more stupid people are, the more likely they are to believe the myths and mantras of the far right and the press barons.
Guest
Posted: 13 June 2017 12:26:56(UTC)

Joined: 21/06/2010(UTC)
Posts: 557

Micawber;47884 wrote:
QE was in fact inspired by the BOE which led the way.

Meanwhile I see that the unelected faceless bureaucrats in Brussels have abolished mobile roaming surcharges throughout the EU. How dare they impose that on our British companies... Monstrous...

That's interesting, I thought the QE experiment began in Japan?
jvl
Posted: 13 June 2017 13:12:19(UTC)

Joined: 01/04/2016(UTC)
Posts: 1,125

To me, QE and the decision to bail out the bankers has been more destructive to the young (and most of the rest of us) than any government policy.

Joe Public saw capitalism lose its moral hazard. The young, the poor and the middle saw asset prices soar beyond their means while seeing those already with assets get richer. Bankers who'd been at the top before the crisis stayed in position.

That started in 2008 though, didn't it, under a Labour government, and we didn't hear much protest from any party as it continued under the coalition and conservatives. Even last year, more when it wasn't even needed. Central banks rather than governments...
King Lodos
Posted: 13 June 2017 17:46:41(UTC)

Joined: 05/01/2016(UTC)
Posts: 11,046

Micawber;47884 wrote:
QE was in fact inspired by the BOE which led the way.


I've not heard that before..

Wikipedia's entry:

A policy termed 'quantitative easing' (量的金融緩和, ryōteki kin'yū kanwa) was first used by the Bank of Japan (BOJ) to fight domestic deflation in the early 2000s.[18][34][35][36] The BOJ had maintained short-term interest rates at close to zero since 1999. A policy with the name 'quantitative easing' had first been proposed in 1994 by Richard Werner, then chief economist of Jardine Fleming Securities (Asia) Ltd. in Tokyo, and was defined as an expansion of credit creation for GDP transactions, to be accomplished by central bank purchases of non-performing assets from banks, central bank credit expansion and a switch of government funding from bond issuance to borrowing via loan contracts from banks, arguing that policies such as interest rate reductions or reserve expansion would not work.[37][38][39]The Bank of Japan had for many years, and as late as February 2001, claimed that "quantitative easing ... is not effective" and rejected its use for monetary policy.

https://en.wikipedia.org/wiki/Quantitative_easing#History
King Lodos
Posted: 13 June 2017 18:01:04(UTC)

Joined: 05/01/2016(UTC)
Posts: 11,046

jvl;47901 wrote:
To me, QE and the decision to bail out the bankers has been more destructive to the young (and most of the rest of us) than any government policy.

Joe Public saw capitalism lose its moral hazard. The young, the poor and the middle saw asset prices soar beyond their means while seeing those already with assets get richer. Bankers who'd been at the top before the crisis stayed in position.

That started in 2008 though, didn't it, under a Labour government, and we didn't hear much protest from any party as it continued under the coalition and conservatives. Even last year, more when it wasn't even needed. Central banks rather than governments...


Iceland was a great example of how we probably should've handled this.

It's crazy, typing: Iceland Austerity into Google brings up as many leftist blogs claiming Iceland rejected austerity, as it does financial blogs showing the sheer extent of Iceland's austerity.

Iceland's recovery was largely down to austerity .. They cut spending and ran the economy at a surplus until they'd brought their debt under control .. It's simple – no financial wizardry; no secondary asset bubbles; no having your cake and eating it .. Just simple spending controls, and of course necessary reforms .. Two things we've really not done so effectively in Europe.
1 user thanked King Lodos for this post.
jvl on 14/06/2017(UTC)
Prof Eman
Posted: 13 June 2017 22:40:11(UTC)

Joined: 08/04/2010(UTC)
Posts: 480

jvi and others
Indeed there are some who grow older and wiser. Many wise old men are highly thought of and respected.
However not all, some develop attitudes that cannot be changed, irrespective of facts and situations. In fact some of my students have suggested that in the 21st century parts of
Psychology should be modified or even re-written
They identify the following types that often cannot agree anything-
1. Newsbots-News robots, these persons follow one agenda in one type of newspaper believing that what is in them is 100% correct.
2. Massbots-Mass media robots, these follow one type of agenda in mass media, often on top of one type of newspaper.
Both cease to have a brain as they are programmed according to what the read and watch. Often this disease affects persons of older age.
Finally the third type-
3. Socbots-Social media robots. They identify with one set of culture/view and can get very nasty if their views are not upheld on social media. Can affect people of all ages, but includes some of the older variety.
The programming is, repeat the same thing again and again until it is believed in. Strong and stable was an example, but one that did not work.
All of us should take care not to become a bot.
King Lodos
Posted: 14 June 2017 00:36:25(UTC)

Joined: 05/01/2016(UTC)
Posts: 11,046

Prof Eman;47922 wrote:
In fact some of my students have suggested that in the 21st century parts of
Psychology should be modified or even re-written


That doesn't surprise me one bit .. Rewriting sciences to better accommodate the prejudices of 18-year-olds seems to be what universities are kowtowing to now.

I think this is especially troubling in Economics .. Apparently students feel the Financial Crisis proved Capitalism didn't work (and I know there are professors toeing this line – if not indoctrinating it), so many students at good Universities for Economics are coming out only with knowledge of Marxism .. And quite how these people are going to find jobs in the Financial sector having studied only fan fiction.


Fairly amusing – good luck with those student loans:

5 Most Ridiculous Papers Published by Peer Reviewed Journals
1. Feminist Glaciology
2. Pumpkins are racist, sexist and a symbol of white privilege
3. On all levels except physical, I am a hippopotamus
4. Menstruation is a social construct
5. The scientific method is patriarchal and objectifies nature

http://newmediacentral.net/5-most-ridiculous-gender-studies-papers-published-by-peer-reviewed-journals/
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