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GOD NO

By Pete Moore On June 3rd, 2020

Boris Johnson says that “tragically there will be many, many job losses – that is just inevitable”. “All I can say in dealing with that fallout, we will be as activist and interventionist as we have been so far,” he adds. The PM says that young people could be hardest hit.
It’s thanks to the government’s intervention that millions of people were needlessly locked down resulting in a trashed economy, millions of jobs soon to be gone, a record depression and mega-billions more debt lumped onto tax victims. History has shown, beyond any argument, that government cannot pick winners, that government cannot intervene to “stimulate” the economy (a primitive belief that we grow out of), and that all government intervention comes at the cost of penalising the productive. The only constructive action that government can possibly take to foster economic growth is to get out of the way, cut taxes and cut regulation. Civil society will do the rest. All economic growth comes from society, the myriad actions of entrepreneurs, producers and consumers. Government has no way of contributing but endless ways of stuffing it up.

30 Responses to “GOD NO”

  1. Anyone recall what Reagan said.-

    The nine most terrifying words in the English language are, ‘I’m from the government and I’m here to help.’

    If only the government would just butt out of restoring business and industry in this country, we would very quickly thrive and return to prosperity.

  2. Did you want the government to butt out of the massive financial assistance they have given both to businesses and the Furlough scheme that has applied to millions of currently at home workers?

  3. Colm

    The clue in Petes post is .. “needlessly locked down”

  4. Harri

    The clue in who my comment was aimed at is the one above mine !

  5. You still missed it.

    You’re welcome.

  6. I missed nothing Harri. What makes you think I did ? I haven’t commented on Pete’s opinion. In fact I agree with him that the extent of the lockdown has been too widespread and too long. I would have dealt with matters differently too. I perfectly understood what Pete was saying but I don’t have to agree with every word of it.

  7. Fair do’s Colm

  8. There are plenty of things the government can do to stimulate economic growth that don’t involve picking winners. You’ve identified some of them, including tax policy. Business rates need to change. Covid-19 will almost certainly accelerate the movement away from brick and mortar businesses towards remote working and online retail. As such the reform of the tax originally invented in 1572 is long overdue. Other things such as cuts to employer national insurance should be considered (taxing jobs at high unemployment is crazy).

    The question about direct intervention in businesses (similar to what the policy has been in recent months) will be whether or not the businesses will be viable long term. If they will be viable, and just need support to get them through the coming months, then it should be forthcoming. However if it won’t be, if there is a new normal, and a new normal where spending habits etc… will be different, and that business or sector doesn’t have a market anymore, then the government shouldn’t be delaying the inevitable.

    Ultimately the new economic model, based on more remote working, will require better digital infrastructure. There needs to be substantial government work on that, especially if post Covid the government decide they don’t want Huawei involved in 5G. Addressing other issues, such as housing shortages (especially in social housing), could provide a boom for the construction sector (who could be in for a tough year or so as the general housing market may dry up due to lack of demand, while many companies are shelving investment decisions to see how the economy reacts post Covid).

    Continuing more social support (such as increasing benefits for recently unemployed workers) would also be beneficial by keeping aggregate demand higher. Addressing other long term problems with fresh cash, such as more R&D spending or skills training, could help offset long term productivity problems.

  9. You can join the EU again.

    Think of the expanded trade opportunity.

  10. We haven’t actually left yet, not in real terms 🙂

  11. no one knows what’s going to hapen.

    The reason is now a moot point. The world economy was shut completely off, without a war. This is uncharted territory. The first worry is war, as long as we don’t start shooting at each other we have no clue what is about to happen.

    Nothing collapsed, all the pieces are all still there. It really is just a matter of turning everything on.

    Sure depending on how it’s done it could be disasterous, but this is also an opportunity that has never occured before….. adapt, improvise, overcome. Watch as we soar…..

  12. Good point Patrick.

    Once again Pete moore seems to be using his magical crystal ball, like he does to predict everything’s going to be fine after we leave the EU.
    The truth is no one really knows what’s going to happen. There could be a massive recession or there could be be a minor blip. Who can say.

  13. Colm,

    We haven’t actually left yet, not in real terms

    To be honest, with everything else that’s going on it seems like of bother to leave. We should probably just stay in for now. 😀

  14. For whatever reason, despite virus, lockdown, riots, and US/China troubles, the financial markets are betting that we will recover

  15. For whatever reason, despite virus, lockdown, riots, and US/China troubles, the financial markets are betting that we will recover

  16. Seamus –

    The question about direct intervention in businesses (similar to what the policy has been in recent months) will be whether or not the businesses will be viable long term. If they will be viable, and just need support to get them through the coming months, then it should be forthcoming.

    So let them borrow from banks, issue bonds, whatever. A viable business will have no trouble finding help. The taxpayer should absolutely not be on the hook for a business whether or not it’s viable.

  17. Once again Pete moore seems to be using his magical crystal ball, like he does to predict everything’s going to be fine after we leave the EU.

    It is magic. It’s absolutely infallible. The record shows it’s better than all the “experts” out there.

  18. You may get a few million from Hong Kong to help you out.

  19. those would be great immigrants for any country.

  20. Boris has what pledged to take 3 million today?

  21. https://www.bbc.co.uk/news/uk-52900700

    Britain will change its immigration rules and offer millions of people in Hong Kong “a route to citizenship” if China imposes new security laws, Boris Johnson has said.

    Writing in the Times, Mr Johnson said the UK would “have no choice” but to uphold its ties with the territory.

    We should still swap them for some of our commies.

  22. Hong Kong is rich because the people there are great.

    Lose the people, all China gets is a bunch of rocks.

    Boris will have rattled the CCP with this.

  23. Pete Moore,

    It is magic. It’s absolutely infallible. The record shows it’s better than all the “experts” out there.

    Perhaps you should play the lottery then Pete.
    Only time will tell how accurate you actually are.

  24. It is a smart move by Boris. I don’t see any downside except perhaps anti-immigrant bigots.

  25. The one downside is that London housing is super expensive and many will want to live in London, pushing the prices of middle class homes way higher.

    Again, I have a bunch of Hong Kong people who moved one neighborhood from me 30 years or so ago ( Sunset Park ) and in my opinion they’ve been terrific for the area.

  26. We should still swap them for some of our commies.

    I suggest a direct trade for pakis. We get intelligent, peaceful (except when the State Departmet funds violence) productive people to boost our economy, and China gets in-bred rapists to bring them down a bit

  27. except when the State Departmet funds violence

    Ah, so the Hong Kong Chinese don’t have minds of their own, Allan?

    Boy you never stop.

  28. Phantom – it is established as fact that the State Department was meeting with, directing and funding the key agitators in Hong Kong. Now, I reckon that Beijing should be paying back the compliment and provide funding and direction to patriotic Americans who shall soon be obliged to oppose the State Department’s nihilism in the US.

  29. “So let them borrow from banks, issue bonds, whatever. A viable business will have no trouble finding help. The taxpayer should absolutely not be on the hook for a business whether or not it’s viable.”

    And before the CBILS and Bounce Back programmes were introduced, where the government underwrote the loans, banks were barely lending. And when they were it was at extortionate rates of interest.

  30. The Covid-hoax can no longer be hidden. Numbers are coming in from everywhere, and it was one huge lie – but lies don’t work unless the masses can a) believe them and b) believe them again. Just waiting on that ‘second wave’ 🙂

    https://www.dailymail.co.uk/debate/article-8381847/Now-know-coronavirus-not-random-killer-one-size-fits-lockdown-come-end.html

    Finally, we can say with confidence what many of us have suspected for weeks: not only is the end of the pandemic now in sight but also the people best-placed to recharge our economy have little to fear from it.

    Thanks to definitive figures released yesterday by Public Health England, we know that Covid-19 is not a random killer, but one that targets specific groups – namely the old and those with pre-existing conditions such as diabetes or dementia.

    The statistics are astounding: those aged over 80 are fully 70 times more likely to die of the disease than those under 40, while being morbidly obese increases your risk of dying by two and a half times. And fortunately the death rate among children is very low.

    Professor Sikora is an honest professional and he isn’t in the big-pharma scam, but he’s wrong to state “finally”: this was a hoax from the outset, and those who were terrified by their own shadows are still terrified by the ‘second wave’

    And when it is all over, we must do our best not to emerge into a ‘New Normal’ – in that dismal cliched phrase that suggests a dull, constrained future – but an ‘Old Normal’, as we seize back our former lives.

    The “New Normal” talk is New World Order brainwashing. We must demand the real normal back, which is the “Old Normal.”

    We do not need the government or anyone to “take care of us.” We can take care of ourselves, and we have a right to take the risks that we want to take.

    Coronavirus is only as dangerous as the flu, and it mostly kills those who would’ve died of the flu anyway, but if a more dangerous virus ever appears, we’d still have a right to decide if we want to take a risk and go out, just like people used to decide everyday to risk going out to work and do stuff in order to live their lives. Those too afraid to live normally can choose to stay locked inside. Your bodies – your choices