FuckyWucky [none/use name]

I hate ycombinator but here:

https://news.ycombinator.com/item?id=36873927

The UK’s aim to develop cleaner energy has taken a step forward after 131 clean energy projects won state subsidy contracts in this year’s auction round — which the government said was enough to potentially power about 11mn homes.

For a Government which harps on about fiscal prudence they sure have the most inefficient ways of funding clean energy, subsidies.

They are already constrained by their self inflicted rules. Capitalists don’t invest unless there is money to be made, it is a simple fact. The subsidies are just incressing capitalist profits.

Alternate way, setup a state owned energy company, hire workers directly. No capitalists parasite middlemen.

IFS or IMF? Because the rhetoric is the same. They claimed a few years ago that UK will be “paying for” COVID for decades, no not because of long COVID but because increased spending during the period prevented complete collapse.

UK chancellor plans to raise social rents to boost affordable housebuilding

I don’t think I’ve seen any other country whine this much about “public finances”.

Usually Governments of the global south countries say they have to reduce deficits to please foreign investors and the IMF, not because the country is “broke”.

Just pathetic.

The real budget will end up being a fraction of what’s needed and most of that’ll end up in capitalist pockets.

I see every bourgeois media outlet whine about how “expensive” nuclear is. I see others worrying about electricity prices dropping so low it won’t be profitable for the capitalists.

They are sound finance deficit hawks, it’s not happening.

deleted by creator

I mean, it is a finance in so much as how you choose to fund things matters. Spending money not replaced with income has a cost, long or short term. And choosing to eat that cost is a fiscal decision

it really doesn’t, the Government is the only sector which can continuously run deficits. U.K. has run continuous deficits (though clearly not enough and not to the right people). Almost Every country runs deficits long term (except developed countries with external surpluses like Norway), nothing wrong with that. China has a massive trade (current account) surplus yet they also run massive fiscal deficits. They know the only way for the country to grow and develop is with Government spending. Financial cost isn’t real cost.

I would argue they should just create the money without issuing debt because the interest on debt mostly goes to financial asset holders who are rich, you can see this in the U.S. with the higher interest rates is stimulating demand instead of reducing it. The capitalists don’t want the Government to spend without issuing debt, Government debt is a way for them to park their wealth in a risk-free asset and earn an interest at the same time.

Be that cost weaker currency o trade with 3rd party nations

This is only partly true. Yes, if the British Government decides to rid themselves of the shackles put on them by the capitalists and spend without issuing debt, there will likely be capital flight (since UK relies on other bringing foreign currency and working like a tax-haven) and exchange rate depreciation which could result inflation. But the Government can use capital controls, many developing countries do, China does it very effectively for instance.

Also keep in mind a weaker currency isn’t inherently bad. It discourages imports of foreign luxury goods. U.K. has kinda fallen off on manufacturing so I don’t know how much export-promotion would occur because of this.

Regardless of how the Government spends the ‘markets’ won’t like it. They could try taxing the rich and only afterwards increase spending to keep fiscal deficit (as %) low but then too there may be capital flight. They could issue debt and provide corporate welfare then also the markets won’t like it. The best solution imo is to spend without issuing debt (this doesn’t cause inflation, that’s neoliberal propaganda), impose strict capital controls and then go ‘deal with’ the rich.

But it is also a problem of convincing voters. Something modern right wing labour has chosen not to do. And in fairness, fptp makes hard as only 30% of voters believing right wing ideals can turn the election.

I completely agree with u on this.

“Firefox is just another US-corporate product with an ‘open source’ sticker on it.”

unlike EU-corporate products

He doesn’t need to ‘find’ money, its a bullshit excuse made to make people think the Government can’t do anything. He doesn’t want do it, that’s the reason, its not a financing problem.

Perhaps I’m being paranoid but if the country is disappointed with Labour I don’t want them to resort to electing an even more right wing version of the Tories further down the line.

That’ll be the likely outcome

Yea and why cryptocurrency isn’t money with its exchange rate being determined by how much fiat currencies are entering and exiting.

OK, two cryptocurrencies as legal tender. My point still stands. If you give people a choice between crypto and fiat they will use fiat, even if it’s a foreign currency like the Dollar in El Salvador.

The solution for El Salvador or any other country using a foreign currency isn’t to go with another foreign “currency” like Bitcoin but building their own currency.

El Salvador had their own currency until they gave it up because their leader back then was a US Puppet.

Sole legal tender.

Edit: I dare them to pay all Government employees in Bitcoin, demand taxes be paid in Bitcoin. It would be a funny experiment if it weren’t for mass unemployment and deaths that arise out of a recession.

It would be funny trade wise too. No other country is going to accept Bitcoin as payment for real goods and services. So, the country will have to convert Bitcoin to USD at market price (which can swing wildly) and also hope the market has enough liquidity to handle it.

money has to be backed by the state so if bitcoiners really want bitcoin to be used in everyday transactions, i would suggest running for President and replacing U.S. Dollar with Bitcoin for tax payments/legal tender.

how will the state obtain Bitcoins? by building massive resource wasting mining farms which itll have to issue bitcoin bonds to build, making the state subservient to the private bond markets and interest rate it demands, Greek style.

there is massive plague and the economy has collapsed? what will the state do? cant give people money or increase healthcare spending because the capacity of the state to mobilize resources is now limited by what the private sector is willing to give it or how much it can mine. oops mass death.

bitcoiners have to be dumbest creatures alive. these people can’t imagine a pro-Worker Government so they have to come up with convoluted ways to tie the hands of the state so it cant give capitalists free money.

After a brief pause and a laugh from the audience, Sir Keir stressed a history of public service, particularly as director of public prosecutions, and said he was not “tribally political”.

My beloved apolitical Prime Minister. The poll should’ve had a “neither” option.

Brits fucking suck

I mean…

At a dinner meeting of the Big Three on Nov. 29, Stalin proposed executing 50,000 to 100,000 German officers so that Germany could not plan another war. Roosevelt, believing Stalin was not serious, quipped that “maybe 49,000 would be enough.”

Churchill, however, was outraged and denounced “the cold-blooded execution of soldiers who fought for their country.” Before storming out of the room, he said that only war criminals should be put on trial. Stalin brought him back after saying that he was only joking.

https://www.politico.com/story/2016/11/fdr-attends-tehran-conference-nov-28-1943-231852

trash replacing trash