Darren GregoryAug 20, 2024
Richard Murphy
Rachel Reeves would make a mess of any household’s finances https://www.taxresearch.org.uk/Blog/2024/08/19/rachel-reeves-would-make-a-mess-of-any-households-finances/
Rachel Reeves keeps saying that we should manage the economy as if it were a household. That is completely wrong. But if it were true, the decisions she is making would end up destroying the finances of any household, she’s making such a mess of things.
The stock market is failing according to the CBI. So why don’t we just let it go?

I posted this on Twitter this morning: https://twitter.com/RichardJMurphy/status/1942861045426516103 My point is serious. The CBI is saying that the situation with regard to the UK stock exchange is getting desperate, because it is losing out to overseas markets and not attracting sufficient business. The question that needs to be asked is, why is that?...

Funding the Future
Aug 19, 2024 at 6:24amWeb
Show threadAxel FoleyAug 19, 2024
@RichardJMurphy She famously said, before the election, it wasn't easy getting by on her MPs salary, guess that kind of fiscal expertise makes her the perfect Chancellor ....
Show threadRab Bruce’s SpiderAug 19, 2024
@RichardJMurphy I’m not sure which is worse: that a UK Chancellor thinks a state’s finances are like a household’s budget, or that she knows the truth but is telling the public that because she thinks we are too stupid to understand the facts. Either way, we’re in trouble. Excellent video btw. 👏👏
Show thread⊥ᵒᵚ Cᵸᵎᶺᵋᶫ∸ᵒᵘ ☑️Aug 19, 2024
@RichardJMurphy wish I could print my own money!
Show threadJoshAug 19, 2024
@RichardJMurphy excellent video, thank you. Have you got a link to Chris’ blog that you mention?
Show threadGeofCoxAug 19, 2024

@joshjacobsen

It's here: https://stumblingandmumbling.typepad.com/stumbling_and_mumbling/2024/08/government-as-household-if-only.html

@RichardJMurphy

Show threadmarcus   😷Aug 19, 2024
@RichardJMurphy Germany is so far ahead on this (in a bad way). The swabian housewife (because swabians are supposed to be very strict with money) is a common rhetorical figure when talking about government spending.
That's how you get dumb shit like the "debt brake" which currently prevents germany from investing in its infrastructure and which can then be used as a club to call for austerity policies...
Show threadsunflowerinrainAug 19, 2024

@RichardJMurphy Several MPs with power over the UK's finances have compared a national budget to a household budget. They can't believe this, can they? Is it to lull untutored voters into acceptance of things against their interests?

Finance should be in the school curriculum. It used to sneak into lessons when teachers had more control: mortgages in Maths; trade and national debt in Geography (the teacher couldn't explain why there was no cancelling-out); various laws in History. Needs more.