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Sunday, 05 July 2020

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Oi, Gaffer, c'mon, time to join Rishi and stump up for the Libertarian cause! ...

https://www.telegraph.co.uk/property/uk/bank-mum-dad-lending-surge-700m-post-covid-market-shuns-first/

Bank of Mum and Dad' lending to surge by £700m as post-Covid market shuns first-time buyers

You had £700m stashed away all this time!

Gimme, gimme, gimme!

SoD

Er, will you take a cheque?

One day, hopefully the day after I'm gone, the impossible to repay global debt will experience a coordinated write down and write off. Nobody is going to repay anything. Not even owning gold will mean anything since its "store of value" won't be there. A difficult period will follow. The ghost of Keynes will be fetching tea for the ghost of Hayek.

Looks like Rishi was listening to you Whiters! ...

https://www.telegraph.co.uk/business/2020/07/04/furloughed-workers-gain-protection-redundancies-new-rules-claw/

Employers planning mass redundancies of furloughed workers face restrictions that may force them to pay back months of wages to the taxpayer.

Employers who lay off vast swathes of their workforce after receiving government money may be forced to make reparations to the taxpayer.

The Treasury has panicked some businesses by rewording the purpose of the Coronavirus Job Retention Scheme to say it is “integral” that its money is “used by the employer to continue the employment of employees”.

What a crazy miscalculation by HMG! If the employers had know this retrospective change to the t's & C's of the furlough deal they'd have sacked all the furlough staff back in March!

These fake jobs are command economics gone mad! If nobody wants to stay in hotels or go on a cruise anymore it's digging holes and filling them in again territory to keep the jobs going. Give them unemployment benefit and let the market re-allocate them.

From Libertarian hero to Marxist nutjob in one fell swoop.

The lawyers will have an expensive field day on this one and crucify HMG at the same time.

Does this government stand for anything except incompetence and fakery?

SoD

Why I do believe you're right SoD! Fake jobs, fake money and years of fake economic models deliver these kinds of results. The money wheel goes round and round and at intervals, some people can reach in and grab some, only to have to put it back in on the next turn. Quite a trick!

The whole purpose of the government action was to ensure people laid off did not starve or were left homeless. This was not your usual economic banking collapse. The strange thing is is that it will not be the alleged skiving workers who claimed benefits it is the employers this time ripping the taxpayer and the Tories do not seem to mind a bit.

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