View RSS Feed


Eve Standard is still doing Fatty and Stupid Balls' job for him, and OOZEbournes as well.

Rate this Entry
[QUOTE=coalition;1148390]At his twice-yearly set pieces, the Chancellor rules the roost — for an hour at least. His privilege of office is that he can put (lie like a the trouper he is) the finest possible polish on the UK economy, selecting facts with an assassin’s care and flinging them at the Opposition like throwing knives.
But reality bites as soon as he sits down, when the Office for Budget Responsibility (OBR) publishes its more sober take on the nation’s finances; (for your Eyes only). We (some of us, Fatty Balls is far to stupid) quickly see behind the spin.

Yesterday’s speech was a classic of the genre, [B]aided by the statistical chicanery of the recent overhaul of the UK’s national accounts[/B]. Take, for example, [B]the reducing debt interest payments trumpeted by the Chancellor as the borrowing figures fell well short of the worst fears. This lower interest bill — down £10.3 billion in 2017-18 according [/B]to the [B]OBR’s book — apparently [/B]“demonstrates the value of our fiscal credibility
around the world”.

So returns on debt bought by one arm of the state are reducing the borrowing bill of another. [B]One economist said the move smacked of debt monetarisation. Another even suggested the complex intergovernmental accounting going on was akin to the “layering” of payments seen in money-laundering operations. [/B]Yes, that about hits the nail on the head, and we still have not mentioned the EU payment of £2 Billion because he cooked the books and pretended we were 'doing fantastic...when we were/are doing no such thing.

Osborne trumpeted the UK as the “fastest-growing of any major advanced economy in the world” this year, although the US is growing at a faster quarterly rate. But he somehow forgot to mention the OBR’s gloom on the UK’s sluggish productivity recovery.

Liar, liar on the wall, whose the biggest one after all?
Now Balls-up, do you understand how real financial wranglers unwrangle Osbornes bullsh*t, you have no class , go drown yourself.