Hilary Benn Sacked From The Shadow Cabinet - wider political debate

[The binman chronicles]

-or was it caused by the greed of the industry that knew it was flawed but wouldn't pull out because the profits were massive, and additionally failed to hedge against the known risk?

I guess they thought house prices would keep going up so even if they defaulted they would make money. Absolutely it was due to greed, but not just the banks, the mortgage arrangers used to fix the applicants income etc. so they could get their cut of the money also.

 

[Bruce Wayne]

Margaret Thatcher destroyed the industrial base of this country, and caused more devision, pain and suffering than any other peace time leader.

In my late teens I saw the impact she had on my family, my neighbourhood, the city of Liverpool and other working class areas in the North and Midlands.

She destroyed communities and created the 'want' culture which has caused so many social problems since.

Throughout her time in power those living in poverty (defined as income below 60% median income) rose from 13% to 22 % of the population.

Terrible times caused by political dogma.

I've never been comfortable with that definition, as the median income could rise by 10%, whilst the income of those below the median rise by 5% and that would equate to a rise in poverty, when that clearly isn't the case. It would seem an absolute measure would be much better than a relative one.

That isn't to say the 80s didn't have an impact, just that this definition of poverty is riddled with holes.

 

[Tubey]

I've never been comfortable with that definition, as the median income could rise by 10%, whilst the income of those below the median rise by 5% and that would equate to a rise in poverty, when that clearly isn't the case. It would seem an absolute measure would be much better than a relative one.

That isn't to say the 80s didn't have an impact, just that this definition of poverty is riddled with holes.

Not really, because the median income usually rises in line with the price of goods, so a rise below that median still equates to relative poverty.

The same reason why a universal tax rate wouldn't work - 50% tax for the rich would have a far lesser impact on living choices than 50% on the poor, for example.

 

[orchard]

There was plenty of evidenc that they were on the brink of a cliff in 2007, Soros said some corp's pulled out and then because of the known risks, but then increased exposure because of the vast sums being made.

I guess they thought house prices would keep going up so even if they defaulted they would make money. Absolutely it was due to greed, but not just the banks, the mortgage arrangers used to fix the applicants income etc. so they could get their cut of the money also.

 

[Bruce Wayne]

Not really, because the median income usually rises in line with the price of goods, so a rise below that median still equates to relative poverty.

The same reason why a universal tax rate wouldn't work - 50% tax for the rich would have a far lesser impact on living choices than 50% on the poor, for example.

Is there evidence for that?

 

[Tubey]

Is there evidence for that?

There will be loads, can't be bothered doing a Damon and Googling things on a Monday morning, but generally the Food Price Index rises roughly in line with income, and frequently beyond it.

So such as this - Daily Mail but, as said, can't be arsed right now getting something 'good': http://www.dailymail.co.uk/news/art...aster-wages-cost-living-crisis-continues.html

So when food prices rise, it takes more of the 'core' costs of living as a percentage of overall income from the less well off, and therefore the impact is far greater on the poor. So if the rich get a 10% rise in income and the poor get a 5%, then FPI doesn't take that into account and just rises by the average between all groups - so the poor are hit substantially harder by it.

 

[The binman chronicles]

There was plenty of evidenc that they were on the brink of a cliff in 2007, Soros said some corp's pulled out and then because of the known risks, but then increased exposure because of the vast sums being made.

Indeed, the banks knew they were in hot water so they tried to mix in these toxic debts into good credit rated collateralized debt obligation bonds that they would sell on to other investors to get it off their books. The Big Short tells the story of this, though I'm not a fan as it basically rich people screwed the banks for more money after they were cleaned out and as always your average Joe loses.

 

[peteblue]

These cretins don't even recognise hypocrisy anymore.....

"Shami Chakrabarti denied she was a hypocrite today for opposing the expansion of state grammars while paying for her son to attend a selective school.

The new shadow attorney general claimed she was simply ‘trying to do her best’ for her child by enrolling him at one of Britain’s top private schools."

 

[neil999]

These cretins don't even recognise hypocrisy anymore.....

"Shami Chakrabarti denied she was a hypocrite today for opposing the expansion of state grammars while paying for her son to attend a selective school.

The new shadow attorney general claimed she was simply ‘trying to do her best’ for her child by enrolling him at one of Britain’s top private schools."

think thats one thing corbyn has going for him, dont think he has been hypocritical on anything has he?....didnt one of his marriages breakdown as he insisted his kids went to state school?! lol

 

[Tubey]

These cretins don't even recognise hypocrisy anymore.....

"Shami Chakrabarti denied she was a hypocrite today for opposing the expansion of state grammars while paying for her son to attend a selective school.

The new shadow attorney general claimed she was simply ‘trying to do her best’ for her child by enrolling him at one of Britain’s top private schools."

She's awful, and I've been saying so on here since 2011. People held her in reverence like Mother Teresa for some reason, but she's always been a disgusting hypocrite and a self-publicist.

 

[neil999]

She's awful, and I've been saying so on here since 2011. People held her in reverence like Mother Teresa for some reason, but she's always been a disgusting hypocrite and a self-publicist.

prob cos who she worked for rather than what she has done

 

[Tubey]

prob cos who she worked for rather than what she has done

Nah, even when Director of Liberty she was disgusting. Basically took a stance contrary to reason to stick to a predetermined narrative no matter what. A complete self-publicist, wannabe career politician who cares for nothing beyond herself.

 

[neil999]

Nah, even when Director of Liberty she was disgusting. Basically took a stance contrary to reason to stick to a predetermined narrative no matter what. A complete self-publicist, wannabe career politician who cares for nothing beyond herself.

ooh blimey, honestly dont know anything about her bar her appearances on question time

 

[Mrk]

Tories crash to a 17pt lead.

 

[Tubey]

Tories crash to a 17pt lead.

Weird thing about that is the Corbyn supporters will acclaim any improvement as "being on the right track", despite it being possibly the single worst poll result ever in this stage of such a parliament.

And by the way, that poll doesn't even account for the "Shy Tory" factor in an actual election.

For what it's worth, I think that poll result would be pretty much exactly the electoral outcome if a GE was tomorrow.