Member Info for machiismo

The number of people betting on something has no bearing on the likelihood of it happening. The odds are what matter. More people are betting on Tories because they have favourable odds, nothing more.

I can't believe I have to explain the absolute basics of gambling to someone, but that's the sort of intelligence I'm dealing with here.

"A 2012 study by the Tax Justice Network indicates that wealth of the super-rich does not trickle down to improve the economy, but it instead tends to be amassed and sheltered in tax havens with a negative effect on the tax bases of the home economy."

"A 2015 paper by researchers for the International Monetary Fund argues that there is no trickle-down effect as the rich get richer: If the income share of the top 20 percent (the rich) increases, then GDP growth actually declines over the medium term, suggesting that the benefits do not trickle down. In contrast, an increase in the income share of the bottom 20 percent (the poor) is associated with higher GDP growth."

"In 2016, Nobel laureate Joseph Stiglitz wrote that the post-World War II evidence does not support trickle-down economics, but rather "trickle-up economics" whereby more money in the pockets of the poor or the middle benefits everyone."

"A 2019 study in the Journal of Political Economy found contrary to the claims of trickle-down theory that "the positive relationship between tax cuts and employment growth is largely driven by tax cuts for lower-income groups and that the effect of tax cuts for the top 10 percent on employment growth is small."

"A 2020 working paper by London School of Economics and Political Science researchers compared the results of countries that passed tax cuts in a specific year with those that did not, over a five decade period from 1965 to 2015 in the 18 member countries of the Organisation for Economic Co-operation and Development. It found that contrary to the claims of trickle-down theory, tax cuts for the rich had no "significant effect on employment or economic growth". They found no evidence that the cuts induced "labour supply responses" from high-income individuals (i.e. "lead to more hours of work, more effort, etc.") that boosted economic activity."

Need I go on? Decades of studies showing current Tory policy does NOTHING to grow the economy.

I refer to my previous comment. I can't keep repeating myself.

"It may even reduce debt, if it spurs billionaires and millionaires to spend more."

This is just wrong. Every economic study on trickle down economic policy (which is what you are describing) show it does not work. Tax cuts for low and middle earners is what spurs economic growth. This is a fact.

"Interestingly, more bets with bookies are still being placed on the Tories (than Labour) to win the next UK election in 2024-25."

Again, this is misleading. Labour are favourites to win the next GE.

Gate, I've written all I wanted to say. If you can't read it and understand it, that is entirely your problem. I can't keep repeating myself simply because you can't follow what I'm saying.

*local not logical

Market probably coming to the realization that Truss is doubling down on this madness.

Her logical BBC radio interviews this morning have been absolutely shredded by everyone across the political spectrum. She's an amateur completely out of her depth and all you need to do is listen to her talk for a minute to realize that.

Votes of no confidence already pouring in and probably a GE called soon.

Just gonna copy paste what I wrote in June, which in itself was referencing a post I wrote months before. I'm copy/pasting it because I can't be arsed repeating myself every few months to someone that the reading comprehension of a toddler:

"What I actually wrote was a lengthy post about immigration needing a holistic approach, including foreign policies directly targeting countries where migrants largely come from, rather than foreign policies that tend to directly contribute to the problem. I wrote a sensible, realistic post about the inability for an island nation to effectively police our borders, including information that despite insane, brutal government policies, we have more migrants reaching our shore than ever before.

I also argued - correctly - that migrants contribute more to the economy than they take out, and that legal framework to make it easier, not harder, for people to move here was the best approach and that we should encourage people to do so.

I do personally believe people should have freedom of movement, I don't believe there is such a thing as an "illegal immigrant", but I do understand that the world is not ready for that sort of thing yet. Hence why I wrote a lengthy post with the above points about how immigration control should be approached by a responsible, pragmatic government."

Lol at Gate. I make a simple statement that is then immediately backed up by a post from someone else, then he runs away to bed. Or is it the beach where his head perennially lives?

It's like 1984 with this guy. Don't believe what you see. Don't believe what you hear. The (current) Tory leader is God.

It would be sad if it wasn't for the fact a large portion of the population votes like him. Completely unable to separate his mind from what his party tells him to think. A cultist.

That should scare everyone.

"What is relevant is what happens with these policies"

Err the British economy has lost 500 billion quid in the last week, you lunatic. Things are happening now! Like they have been since Brexit. You just seem to be ignoring them entirely.

Or perhaps not reading about them from your super un-biased sources of information.

You live in a totally deluded, imaginary world. I've been saying now for a year that we are in a cost-of-living crisis (as have basically everyone else) yet you seem to still pretend like it isn't happening.

Inflation is rampant, yet you still pretend.

The economy is tanking, yet you still pretend.

Good lord man, when will you stop looking outside your own window and actually look at the country you claim to love?!

Funny you ignore me when I ask pertinent questions Gate, but find plenty time to insult me when I don't.

Ah yes, news outlets like the IMF, EU, American government, Tory backbench, Labour government, Welsh government, Scottish government, NI government, British financial market, global market and literally anyone with eyes and something in their head between them.

I'm amazed you manage to type messages with your head under the sand.

Damn "hysterical media channels" like every single media outlet that isn't the f*cking Daily Heil and every single economist in...err...the world.

How in god's name can you defend TWO PEOPLE against literally everyone else in society? The only logical position is that you blindly follow the Tory leader, no matter how destructive their policy.

Funny that the investigation into Russian money in the Tory party just got magically brushed under the carpet eh? Almost like corruption or something. Weird BoJo gave a peerage to Medvedev too. Must be a coincidence.

Even doubly strange that KK's old pals at his last job as a hedge fund manager just happened to makes hundreds of millions in the last week shorting the pound.

TOTALLY A COINCIDENCE GUYS.

We all know the reason most Tory voters didn't want Sunak, and it wasn't his economic policy. Anyway...

I'd love to hear someone explain to me how lower taxes for highest earners benefit an economy (disproven by decades of "trickle down" economics data), other than siphoning off more money to the already rich, who already have loopholes and tax havens to shield their money from the government.

I'd love to hear how Tory doners, including KK's former colleagues, have managed to make 100s of millions over the last week by shorting the pound without any investigation?

I'd love to know why it makes sense to borrow huge amounts of money to cover these tax-cuts at a time when interest rates are higher than they have been in decades?

I'd love to know how any of the above things benefit the working class, who are already struggling with increased energy costs and food costs going into winter?

I'd love to hear answers to any of the above questions from any Tory voter. If they can resist calling me a communist or some other pathetic epithet for daring to ask a question.

Please explain to me why this country is heading in the right direction. I'm listening and waiting...

Stick to the topic at hand please. If you can't debate current topics, run away, as you usually do.

If you've got a point to make, make it. If you've got a position to argue, argue it.

If all you can do is cry, then you're nothing but a little snowflake baby.

"you will know I have made the case for why I think Truss is following the right course of action and why I think Sunak's policies would result in a deep recession"

LOL - this guy is apparently smarter than the entire global market, every party in this country, and anyone else that disagrees with him. Talk about swimming against the tide, this fool is flailing against a tsunami.

There's absolutely ZERO, I repeat, ZERO logic to supporting this current gov other than sheer ideological dogma. It's the position of a cult member, entirely unable to question his leader as that would be to question reality itself.

Gate13, my sweet sweet old man, you are living in a fantasy world. Open your eyes for goodness sake. Everyone around you isn't lying. The moon landings happened...

In what way is the IMF politically motivated?! They are an international, independent organization that quite frankly probably has more sway on the global stage than the UK does now.

Believe it or not, Tory nutters, some organizations are not self-interested. I know it's very hard for the self-absorbed, "I got mine", NIMBY, Tory voters to comprehend such things as "concern" and "empathy", but the world isn't as dark and depressing as your own life.

mark99999999999999

It's "lose" mate. Like we "lost" the referendum, and like we are all "losing" because of it.

"Loose" is like the grey matter connecting your brain cells.

Gate13

Ah so the markets, Tory backbench, Labour, SNP, financial sector and everyone that disagrees with you is the "loony left" now? Nice way to dodge defending your position. Coward.

Gate13

Talking about the current government tanking the economy, which we are all part of and which affects us all. Please enlighten us more with your economic kool-aid.