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Telegraph Calls UK's New Shadow Chancellor "Nutjob", Promptly Retracts

Tyler Durden's picture




 

The UK Labor Party's new leader Jeremy Corbyn has, rather unsurprisingly, is making controversial headlines already. His appointment of John McDonnell - an outspoken opponent to the independence of central banks - as shadow chancellor has been met with derision in the British press. Initially described as a "nutjob" by The Telegraph, McDonnell's 'plan' to close the deficit is simple - instead of cutting spending, he will dramatically raise taxes on businesses and the rich. The Telegraph then watered-down their perspective, we think, slamming McDonnell's policy as "cloud cuckoo land economics."

Jeremy Corbyn, the new leader of the U.K. Labour Party, named an opponent of Bank of England independence as the party’s Treasury spokesman, in the latest signal of the main opposition’s new political direction.

While it wasn’t part of Corbyn’s election program, McDonnell is also a critic of the Bank of England. In 2012, he set out his own vision for Labour’s first 110 days in power.

 

“In the first week of a Labour government, democratic control of the major economic decisions would be restored by ending the Bank of England’s control over interest rates,” McDonnell wrote. He went on to propose “bringing the nationalized and subsidized banks under direct control to force them to lend and invest their resources to modernize our economy and put people back to work.”

 

McDonnell told Sky News television Monday that “my new policies and Jeremy’s have been roundly endorsed by the leadership election, so what I’m going to try and do now is try and convince our colleagues in Parliament of the need for change.”

 

Britain’s “economy would be safe in our hands but also be more prosperous,” he said.

But. as The Telegraph's Jeremy Warner exclaims (admittedly not the most 'fair and balanced' newspaper on the matter) not everyone agrees on this "prosperous"...

I know that Corbynomics should be treated with the due consideration afforded to it by the BBC, and as a voice of reason I should confine my comments to dutifully pointing out some of its flaws, but I can’t. Indeed, the whole thing is such a joke that I don’t know why I’m writing about it at all. What’s proposed is beyond parody.

 

You’ll be relieved to know, however, that Mr McDonnell is not a deficit denier. In fact, he believes “deficit denial is a non-starter for anyone to have any economic credibility with the electorate”.

 

But instead of closing the deficit by cutting spending, he proposes to do it by raising taxes, targeted at the rich and business. In pursuit of this goal he’s discovered an astonishing £93bn of tax “subsidies” to business which he proposes to abolish. Simples.

 

At a stroke, the deficit is made to vanish. I’m kicking myself for not thinking of this. All along it was staring us in the face, but somehow or other, we all came to miss it.

 

As I say, it’s scarcely worth attempting to counter this kind of cloud cuckoo land economics, for it is an agenda that will never be implemented. What Mr McDonnell proposes goes way beyond what Francois Hollande tried to do in France. There is no chance of any of this ever reaching the statute books.

 

Politically, however, there are profound implications. Even acknowledging tribal loyalties, which continue to run deep in British politics, it’s hard to believe the natural constituency for nonsense like this - and obviously there is one - is more than 20pc of the vote.

We leave it to Martin Armstrong to conclude:

People like Corbyn will inspire the violent overthrow of capitalism for what they think will be the betterment of man. They are idiots and dangerous ones at that for you cannot eradicate human nature. Yet they will try.

Idiots...

Or "nutjobs"

Which was promptly retracted

or in "cloud Cuckoo land"

 

For those not of a British persuasion it appears being "from cloud cuckoo land" is less egregious than "being a nutjob" - though either way, we suspect a man running the nation's money that is described thus may not end well.

 

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Mon, 09/14/2015 - 10:43 | 6546037 NoIdea
NoIdea's picture

He could hardly do a worse job than the crooks currently in control of the world's central banks

Mon, 09/14/2015 - 10:46 | 6546052 XAU XAG
XAU XAG's picture

Yes NoIdea....................my thoughts too.

Mon, 09/14/2015 - 10:52 | 6546068 Haus-Targaryen
Haus-Targaryen's picture

I am a big Bernie & Corbyn supporter.  Nothing on the planet would more help the German economy more than one of these two (best case scenario: both) imbeciles getting elected.

Go Corbyn & Bernie Go!   

Mon, 09/14/2015 - 11:03 | 6546129 NoDebt
NoDebt's picture

Notice has been posted:  Get the fuck outta merry old England.

Seems the fascists/statists are winning everywhere.

Mon, 09/14/2015 - 11:13 | 6546171 Dr. Engali
Dr. Engali's picture

Problem is there is no place left to go to get away from them. Not even a ranch in Chile will save us. We're pretty much fucked.

Mon, 09/14/2015 - 11:16 | 6546195 NoDebt
NoDebt's picture

Antarctica.  All the waterfront property you could ask for.  

Mon, 09/14/2015 - 11:31 | 6546247 Occident Mortal
Occident Mortal's picture

As a Brit I can confirm that Corbyn is a communist.

 

There is absolutely zero chance whatsoever that the man is elected. This is the left side of British politics basically taking a 5 year holiday and leaving the keys with the guy who lives under the bridge. If Jeremy Corbyn ever gets anywhere near government then about 10 million Brits would pack their bags and flee the country. He wants to nationalise basically everything from railways, to airports, to oil reserves, to banks, everything will be owned by the state.

 

NB: For any Americans new to this, the left wing party decided to allow any member of the public to vote in their leadership election... all you had to do was pay £3 to sign up. THEREFORE... Everyone on the right of the political spectrum joined this leadership election and voted for the joke candidate. The man is not electable in any kind of national poll and the left party has been effectively sabotaged. He looks like a tramp and he sounds like Karl Marx!!

Mon, 09/14/2015 - 11:38 | 6546291 Haus-Targaryen
Haus-Targaryen's picture

I wondered how many of the Corbyn votes were actually Tories in for a lol. 

Mon, 09/14/2015 - 11:53 | 6546357 MalteseFalcon
MalteseFalcon's picture

Corbyn's politics to one side, enough people think he is a viable candidate. He destroyed the Blair-ite establishment candidates.  Therefore he has a measure of credibility, even if you disagree. 

Please do not start in with 'the tories crossed over and voted for Corbyn nonsense', or I may think you are a nutjob.

The infantile nature of the Telegraph's 'comments' cause me to wonder if the Telegraph deserves any credibility and if the Telegraph is just a coterie of nutjobs.

Mon, 09/14/2015 - 11:56 | 6546376 Haus-Targaryen
Haus-Targaryen's picture

Quit copy/pasting from the Telegraph's comment section.  

Either way, I hope Corbyn wins.  Would be great for Germany.  

Mon, 09/14/2015 - 12:03 | 6546424 MalteseFalcon
MalteseFalcon's picture

I didn't copy and paste from anywhere.

Germany is up to it's ass in invaders.  They will need the election of Bernie and Corbyn just to stay even.

Why don't you guys reopen the concentration camps?

Mon, 09/14/2015 - 12:05 | 6546438 Haus-Targaryen
Haus-Targaryen's picture

1) We closed our border today.  2) I'd love that. 

Sort the immigrants, those with skills the German government needs, keep, the others send back.  

But given the socialist paradise you have have cooking up in the UK, perhaps you'd like 300,000 hole diggers?  

Mon, 09/14/2015 - 12:33 | 6546564 MalteseFalcon
MalteseFalcon's picture

1. In order to effectively close your borders you'll need to build another wall, reinstitute the grenze-politzei, fire Merkel and dissuade your corporatists.

2.  The ovens have also been preserved, I assume?

3.  Let me know how many doctors and scientists you find in that mob.

4.  The UK is not taking any invaders.

Mon, 09/14/2015 - 13:54 | 6546958 Haus-Targaryen
Haus-Targaryen's picture

1. Would be great, although I don't have a problem with German corporatists, save the banks.  

2. Nahh, we'll find some bleeding heart country to take them.  Corbyn would do well.  

3. The Syrian middle class is leaving, so the likelihood of getting highly qualified individuals out of the mob is pretty high.  Are all of the such?  No.  Most are worthless, but hey -- that's what we have the island for.  

4. Cameron just signed you up for 20k, with an ever long line waiting in Calais.   

Mon, 09/14/2015 - 18:17 | 6548397 Greed is King
Greed is King's picture

Quantitative easing when the proceeds are put into the banksters trough are hailed as a wonderful boon,

but when Corbyn talks of doing quantitative easing to finance rebuilding British infrastructure, building hospitals,

schools and homes for the people it is hailed as disgraceful money printing and illegal forgery; oh how the piggies

scream when they see their trough being threatened.

Hopefully Corbyn will be able to purge the Labour party of its greedy money grubbing Blairite/Mandelsonites and

turn Labour back into a socialist party instead of its present status of imitation Conservative.

Mon, 09/14/2015 - 14:36 | 6547262 BullyDog
BullyDog's picture

Also as a brit I'll give fair comment on the other side of this coin.

 

He has chosen people that don't accept the current death and debt paradigm.  They don't believe in the false wars.   

 

Also Tom Watson is the only MP to stand up in the house of commons and declare that the house of westminster is rife with paedophiles (which it is) and needs investigating.  Our nation is sick and needs our den of vipers routing out, to coin a phrase our cousins over the water will understand and know.

 

You may not like him as a person, however his morals and by the looks of it, those who he has brought close to him are impeciable.  To that extent the propaganda is rife, both the BBC is spurting mistruths about him, and the media both left and right is trying divide and conquer tactics.   Shameful.   

 

Good luck JC, I just hope that you don't fall down the stairs or, slit your writs whilst over dosing like Dr David Kelly.

Mon, 09/14/2015 - 18:21 | 6548404 Greed is King
Greed is King's picture

Well said Bully

Mon, 09/14/2015 - 11:36 | 6546284 Divine Wind
Divine Wind's picture

 

 

 

ROFL

And the genteel people here in America think that TRUMP is rude?

The British have true rudeness, slander, mud slinging and back stabbing in politics down to a science and art form.

Do not buy the media and leftist lies that a politician is to conduct his/her self as a cultured, deep thinking statesman.
Horsehocky. The political landscape is the quintessential fight club. All of these wussies complaining about TRUMP's brash style are
are just weak individuals.

This nation is in desperate need of someone experienced in running large organizations, someone who has an understanding of
capital expenditures far beyond that of a household budget, someone who understands that international relations is very much
like negotiating a business deal.

 

 

Mon, 09/14/2015 - 11:23 | 6546226 BandGap
BandGap's picture

Find your place and hold your ground.

Watch the show, things are entertaining if you have little skin in the game.

Mon, 09/14/2015 - 11:04 | 6546134 Fish Gone Bad
Fish Gone Bad's picture

I always enjoy watching a freakshow, but this looks (for real), for real.  Wow, this guy got elected on less than 500,000 votes???  Looks like our friends across the pond are going to get a lesson in Marxism they are not going to like.  Ever wonder if your vote could really matter?

Mon, 09/14/2015 - 11:11 | 6546161 Nostradumbass
Nostradumbass's picture

"Wow, this guy got elected on less than 500,000 votes???"

This is the only reason I sometimes, only rarely, question the wisdom of not voting at all. I will never again vote in national, state or provincial elections, but it does seem a shame to hand it all over to the remaining dumbfucks who do vote...

Mon, 09/14/2015 - 11:23 | 6546225 Fish Gone Bad
Fish Gone Bad's picture

There was also some bit of naughtiness, 400,000 people paid money to join his "club".

Mon, 09/14/2015 - 15:09 | 6547431 HowdyDoody
HowdyDoody's picture

He has been elected the leader of a political party, not a country.

Mon, 09/14/2015 - 10:49 | 6546062 EscapeKey
EscapeKey's picture

ah no he could.

he'll eliminate the nuclear deterrent and cosy up to the russians, for starters. he longs for a world without an army, which makes him a blithering theorist, with no grasp on reality, which also stacks up as he calls terrorist organizations (hamas, hezbollah) "his friends".

he furthermore wined and dined the IRA MERE WEEKS after the Brighton bombing (failed assasination attempt on Thatcher)

no smoke without fire, and in this case, there's a fuckton of smoke.

Mon, 09/14/2015 - 10:57 | 6546094 where_is the_nuke
where_is the_nuke's picture

Since when Hezbollah is a terrorist organization? It is not a terrorist organization Just because Kikeroachs in US governments and their stooges call it a terrorist organization,
 And what grasp of reality are you talking about fuckface? So suck a cock Hasbara fag.

Mon, 09/14/2015 - 10:58 | 6546101 Haus-Targaryen
Haus-Targaryen's picture

No words. 

Mon, 09/14/2015 - 11:01 | 6546111 EscapeKey
EscapeKey's picture

yeah, that's about the intellectual level of a corbyn supporter if i ever saw one.

i know this isn't wikimarx.org, but those of us not with our heads stuck up the arse of a peddler of a repeatedly failed socio-economic model, will accept that hezbollah are considered a terrorist organization by several governments, including those of the US, and UK (partial).

 

https://en.wikipedia.org/wiki/Hezbollah#Designation_as_a_terrorist_organ...

 

Mon, 09/14/2015 - 11:10 | 6546155 Fish Gone Bad
Fish Gone Bad's picture

At the end of the day, the enemy of my enemy probably my enemy as well.  Name calling and trash talkin' is so Lucha Libre!

Mon, 09/14/2015 - 11:11 | 6546164 where_is the_nuke
where_is the_nuke's picture

Do you even know what Marxism is? Marxism is not a political ideology unlike communism. It's a methodology for historical analysis. Even Marx was not a communist. Marx was like a prophet and a great philosopher, thinker of his time.
As if  thepredatory capitalism(too big to fail banks) are any better than communist economic policy. And the wiki list starts with US, EU, Israel and I stopped reading.
BTW nice try mofo.

Mon, 09/14/2015 - 11:17 | 6546197 Haus-Targaryen
Haus-Targaryen's picture

Oh fuck you.  Marx's Theory of Labor was so fundamentally flawed -- the guy was a high functioning alcoholic.  

If he was such a great philosopher, why couldn't he see the body count his ideas would result in?  

Yes, and as fucked up as our current economic policy is -- its still *worlds* better than Communism.  I can go to the store and buy bread, because the bread is waiting for me to buy it there.  In Communism, I go to the store & have to wait on the bread.

Mon, 09/14/2015 - 11:39 | 6546296 where_is the_nuke
where_is the_nuke's picture

Obviously there are some flaws in Marx's theory due to misunderstanding of nature of human psyches. Freud should have beeen born a hundren years ago. If that Marx guy were familiar with Freudian psychoanalysis he would come up with  better theory.

Mon, 09/14/2015 - 11:43 | 6546308 Haus-Targaryen
Haus-Targaryen's picture

No, Freud would not have helped Marx, as any economic system that requires the individual to value to needs of society more than his or her personal needs is completely doomed to failure.  

Period.  Punkt.  Full stop.  

Marx was someone who should have stuck to fiction.  

Mon, 09/14/2015 - 15:07 | 6547419 Georgiabelle
Georgiabelle's picture

Marxism/socialism fails wherever it is tried because it ignores the most basic principles of human beahvior. Had Marx known of the work of behavioral psychologists Skinner and Thorndike and the "law of effect" he would have realized that socialism is doomed to fail. The law of effect holds that rewarded behavior tends to recur, punished behavior tends to diminish, the corollary of which is be careful what behaviors you choose to incentivize ( with welfare benefits for example) because you will most certainly get more of them, and what behaviors you choose to disincentivize (with taxes for example) because you will most certainly get less of them.  

Mon, 09/14/2015 - 11:43 | 6546314 nevertheless
nevertheless's picture

Its best not to argue with idiots. Americans in general would sell their souls to Israel and corporations other than to accept that there are places where socialism is a good thing. 

Mon, 09/14/2015 - 11:52 | 6546346 Haus-Targaryen
Haus-Targaryen's picture

For example ... 

Name me one nation that has adopted Socialism and flourished.  

Mon, 09/14/2015 - 11:54 | 6546359 where_is the_nuke
where_is the_nuke's picture

China.

Mon, 09/14/2015 - 11:58 | 6546395 Haus-Targaryen
Haus-Targaryen's picture

You can have private property in China.  You can own land, your own home, own your own business -- definititely not Socialism which requires economic equality.  

Moreover, there are over 1 billion people in China live in abject poverty, and the only reason the Chinese government is still around in its current form is via internet censorship, and brutal authoritarianism.  Mao killed 50 million of his own people.  

Is this the success story you were looking for?  

Mon, 09/14/2015 - 12:12 | 6546467 where_is the_nuke
where_is the_nuke's picture

No, socialism is a political ideology where the government's objective is to maximize the satisfaction of the society as a whole. Nazi Germany was socialist. Socialism doesn't mean abolition of private ownership. Modern China resembles to Nazi Germany(minus the craziness of racial superiority and the efficiency of German government machinery)  more than it resembles to capitalist America or communist Russia.
Yeah, there are many people in China who live in abject poverty, though not more 1 billion, but you should look at into comparetively and in proper context. What was the situation before and now what? China pulled up more 300 million of her people from poverty line while in US 48 million are on food stamps.

Mon, 09/14/2015 - 13:52 | 6546952 Haus-Targaryen
Haus-Targaryen's picture

Socialism is a socio-economic model.  

Socialism in every form it has existed in previously (take the former East Germany for example) eliminated private property.  Everything belonged to the state, and you were simply allowed to use it.  

Socialism never results in satisfaction of the whole, but does result in mass poverty and the satisfation of a few inside the government.  Everyone else's life sucks.  

Your ignorance on something you pretend to be knowledgeable about it offensive.   

Mon, 09/14/2015 - 14:17 | 6547150 InjuredThales
InjuredThales's picture

@Haus Targaryen

Recommend you ignore that idiot troll. Just another ignorant, disenfranchised fool who's come to zerohedge because the site is chock full of ignorance and disenfranchisement.

 

 

Mon, 09/14/2015 - 16:07 | 6547540 Haus-Targaryen
Haus-Targaryen's picture

This is the first thread I've seen on ZH this year where I am convienced that somewhere there is a room full of 38 year old virgins and their boss sends them an email and tells them to troll.  

 

Mon, 09/14/2015 - 14:26 | 6547210 where_is the_nuke
where_is the_nuke's picture

I gave you the example of Nazi Germany but instead of saying anything logical you are just blabbering.

Mon, 09/14/2015 - 15:27 | 6547525 Haus-Targaryen
Haus-Targaryen's picture

Nazi Germany was as socialist as Norway is today you fucking shitstain.  

You have literally not a clue what you are talking about, and if you knew what planet you are on, I would be surprised.  

Gas yourself, please, for the good of humanity.  

Mon, 09/14/2015 - 15:38 | 6547604 where_is the_nuke
where_is the_nuke's picture

So you think you can change the definition whenever it suits you cocksucker?

Socialism is a social and economic system characterised by social ownership and/or social control of the means of production and co-operative management of the economy, as well as a political theory and movement that aims at the establishment of such a system."Social ownership" may refer to cooperative enterprises, common ownership, state ownership (achieved by nationalization), citizen ownership of equity, or any combination of these.There are many varieties of socialism and there is no single definition encapsulating all of them.

Come out of the indroctination you received and grow a brain mofo.

Mon, 09/14/2015 - 16:29 | 6547765 Haus-Targaryen
Haus-Targaryen's picture

I never changed the definition.  You just have reading comprehension issues.  

But you proved my point for me, re; common/"social" ownership, and thus without that single principle Socialism as your feeble brain defines it cannot exist.  

So you'll have to explain to me how Nazi Germany, which had private property, private corporate ownership was a Socialist state in the way you are trying to defend it.   

EDIT - Huge el oh el you are talking about me growing a brain.  You are the idiot attempting to defend Socialism.  

Mon, 09/14/2015 - 17:52 | 6548303 BigJim
BigJim's picture

Sure, you had "private" ownership of stuff under fascism... as long as you did EXACTLY what you were told to do with it, like who you could employ, how much you could pay them, how much you charged for your products, etc, etc. Basically, a private "owner" of a business was reduced to being middle management for State bureaucrats.

You also had widespread nationalisation of "vital" industries, and widespread redistribution of wealth, as well as "make work" schemes to boost employment.

Socialism and Fascism are kissing cousins. There's a reason they called it "National Socialism".

Mon, 09/14/2015 - 17:47 | 6548273 BigJim
BigJim's picture

 So you think you can change the definition whenever it suits you cocksucker?

Now you're saying

Socialism is a social and economic system characterised by social ownership and/or social control of the means of production and co-operative management of the economy, as well as a political theory and movement that aims at the establishment of such a system."Social ownership" may refer to cooperative enterprises, common ownership, state ownership (achieved by nationalization), citizen ownership of equity, or any combination of these.There are many varieties of socialism and there is no single definition encapsulating all of them.

A moment ago you posited that Socialism is

a political ideology where the government's objective is to maximize the satisfaction of the society as a whole.

No, fool, that's the stated objective of every government. The actual objective of the individuals controlling the system - socialist, fascist, communist, you name it - is the same as in every government: to maximise their own advantage and act according to what they see as being in their own interests.

Only in a minarchist free-market system do you have sufficient rule of law, competition between people and groups, and the price discovery necessary to "maximise the satisfaction of society as a whole". And it rapidly devolves into crony oligarchy if the citizens don't keep the tree of liberty watered, as is seen in every polity throughout history, including ours.

Mon, 09/14/2015 - 11:30 | 6546259 Fish Gone Bad
Fish Gone Bad's picture

Marx was like a prophet and a great philosopher, thinker of his time.

See, this is wrong.  Marx lived off the good graces of others.  He was the Charles Manson of his time.  Ask any of Manson's followers and they too will say, "Charlie was like a prophet and a great philosopher, thinker of his time." 

 

Mon, 09/14/2015 - 11:43 | 6546312 where_is the_nuke
where_is the_nuke's picture

Nice try. But who the fuck is Charles Manson?

Mon, 09/14/2015 - 11:53 | 6546354 Haus-Targaryen
Haus-Targaryen's picture

Seriously?  How can anyone not know who/what Manson was? 

Mon, 09/14/2015 - 11:19 | 6546210 11b40
11b40's picture

Please tell me the difference between a terrorist and a freedom fighter, if you can.  I would love to hear your explanation.

Mon, 09/14/2015 - 11:24 | 6546232 Haus-Targaryen
Haus-Targaryen's picture

I think it depends on perspective.  

Shooting Katoosh rockets & little kids normally would qualify you for said title.   

Mon, 09/14/2015 - 15:36 | 6547585 11b40
11b40's picture

These Soviet rockets have been around for over 50 years, and are popular with both terrorists and freedom fighters ;-).

Your answer didn't help much.  Why am I not surprised?

http://www.liveleak.com/view?i=ba6_1410608171

 

Mon, 09/14/2015 - 17:56 | 6548322 BigJim
BigJim's picture

How about dropping white phosphorus on schools. Is that terrorism? Or is it only terrorism if it wasn't us doing it?

Mon, 09/14/2015 - 11:41 | 6546302 nevertheless
nevertheless's picture

It all depends on what Israel and the US zionist media tell us it is, they control reality, because they control the media. 

Mon, 09/14/2015 - 11:39 | 6546292 nevertheless
nevertheless's picture

The real "terrorist state" is Israel, and America it's puppet. 

Mon, 09/14/2015 - 13:58 | 6546989 undertow1141
undertow1141's picture

When I read this I even heard the ME accent and spittle.

Mon, 09/14/2015 - 11:30 | 6546257 Plunge Protection
Plunge Protection's picture

Hes not against central banks, he's just pissed the governement isn't the one in charge of them.

Mon, 09/14/2015 - 11:44 | 6546316 xtop23
xtop23's picture

".......overthrow of Capitalism...."

lol.

Does anyone really believe Capitalism is still in existence currently?

Apparently, the Brits are just as immersed in self delusion as America.

Mon, 09/14/2015 - 11:45 | 6546318 DavidC
DavidC's picture

Or a worse job than Osborne, whose 'Help to buy' scheme was described by the IMF as 'moronic'.

DavidC

Mon, 09/14/2015 - 10:44 | 6546040 sam i am
sam i am's picture

  Let them boys fight it over.. Meanwhile... DPR Army Recruiting Video

http://thesaker.is/dpr-army-recruiting-video/

Mon, 09/14/2015 - 10:46 | 6546042 honestann
honestann's picture

Geez!  You mean the only way to get rid of central banks is to hire certifiably insane politicians bent on total destruction of opportunity for the people?

Hmmmm... on balance, probably worth it !!!!!

That's how bad central banks are!

... insert twilight zone music ...

Mon, 09/14/2015 - 10:45 | 6546043 Bill of Rights
Bill of Rights's picture

Most Politicians are nut jobs just look around...

Mon, 09/14/2015 - 10:45 | 6546046 EscapeKey
EscapeKey's picture

there's not a fucking chance of any serious percentage of the population with more than £100 in the bank would vote for Corbyn.

Mon, 09/14/2015 - 10:49 | 6546063 XAU XAG
XAU XAG's picture

Corbyn will top everyones bank account up to £100

Mon, 09/14/2015 - 10:51 | 6546073 PleasedToMeatYou
PleasedToMeatYou's picture

It looks like a plurality of the party leadership already did. 

I'm pretty sure 100 GBP is walking around money for most of them. 

Mon, 09/14/2015 - 10:54 | 6546078 EscapeKey
EscapeKey's picture

a large amount of the party leadership just stepped aside and returned to the back benches.

they clearly thought longer term than the tenure of this nutjob

 

Mon, 09/14/2015 - 10:47 | 6546050 Panic Mode
Panic Mode's picture

All parties are run by nut jobs.

Mon, 09/14/2015 - 10:48 | 6546057 Calculus99
Calculus99's picture

British Estalishment are getting worried, and they're right to be. 

Firstly, if the economy tanks then the illiterate voters (not all, but most) will lap it up when somebody says 'we've got a plan - tax the nasty rich so you the majority will get more and society will be more 'fair'.

Second, give it a few more years of Middle Eastern chaos and even a retard will put 2 and 2 together and finally realise the reason for Middle East turmoil is because of the West's constant meddling, bombing, droning etc. People like Corbyn preach this message and will try to offer an alternative to perpetual war.   

Mon, 09/14/2015 - 10:50 | 6546067 EscapeKey
EscapeKey's picture

nonsense.

the electorate sees an endless stream of migrants, and as the majority is against more "refugees", they will not vote for a man who proclaims his love for them.

Mon, 09/14/2015 - 12:29 | 6546543 Joel Cuerrier
Joel Cuerrier's picture

Perpetually importing new voters from the Middle-East for Labour?

Mon, 09/14/2015 - 10:48 | 6546058 PleasedToMeatYou
PleasedToMeatYou's picture

I love how these seem to be our choices -

Mainstream warhawk banker-owned statists

or

avowed outright socialist peaceniks who will more softly land us into the same global despotism into which we already hurtle. 

Mon, 09/14/2015 - 10:49 | 6546060 JustObserving
JustObserving's picture

If the mainstream media hates you, you must telling the truth and are a threat to the psychopaths now in charge

Mon, 09/14/2015 - 10:53 | 6546074 EscapeKey
EscapeKey's picture

the man is a total socialist, who admires Marx, and thinks we still live in the 70'es.

he's against fracking, but FOR coal, which completely clashes with his alleged "environmental credentials".

Mon, 09/14/2015 - 20:53 | 6548333 BigJim
BigJim's picture

Fracking is performed by cackling capitalists, hellbent on ruining nature. Coal mining is performed by honest, pint-drinking, horny-handed sons of toil who wear tweed flat caps...

... and who vote Labour, obviously.

Mon, 09/14/2015 - 10:51 | 6546070 Dr. Engali
Dr. Engali's picture

How bad can he be? We had string of a nut jobs managing our currency for years and look how well it turned out for us.

Mon, 09/14/2015 - 11:04 | 6546135 NoDebt
NoDebt's picture

Never ask "how bad could it be?"  You know what happens next.  You find out.

Mon, 09/14/2015 - 11:15 | 6546190 Fish Gone Bad
Fish Gone Bad's picture

Better the devil you know.

Mon, 09/14/2015 - 10:55 | 6546083 Bill of Rights
Bill of Rights's picture

Hey! did you hear! Richard Nixon is Running For President in 2016 Election? These People Think So!

 

https://youtu.be/mwsdj5p8KEY Again California burning is no love loss to anyone or thing.
Mon, 09/14/2015 - 10:55 | 6546085 AlfredNeumann
AlfredNeumann's picture

People who need to meet the business end of a sniper rifle

Blair, Cameron, Bush Jr. Clinton (both of them), Willam Hague,  General John Allen,  Dempsey, McCain. Nuland, Netanyahu.

Mon, 09/14/2015 - 11:48 | 6546337 nevertheless
nevertheless's picture

Isn't it interesting that ONLY the good people get assasinated, while the filthy war mongers walk the earth free? Its because the filthy war mongers (see: zionists) do the assinating and then blame it on someone else. 

 

Totally agree with your list btw. 

Mon, 09/14/2015 - 10:56 | 6546086 _ConanTheLibert...
_ConanTheLibertarian_'s picture

We already had blowjob, handjob, titjob and footjob. I guess nutjob also fits in there. Especially done in combination with the other ones.

Mon, 09/14/2015 - 10:57 | 6546089 buzzsaw99
buzzsaw99's picture

those fuckers aren't independent. they are the moist interdependent incestuous lying thieving raping looting circle jecking ass munching parasites on planet earth! shut your fucking face uncle fucker... [/T&P]

Mon, 09/14/2015 - 10:57 | 6546095 Ataxic Press
Ataxic Press's picture

Jeremy Corbyn is off script.

Bad show.

Mon, 09/14/2015 - 11:00 | 6546098 Grandad Grumps
Grandad Grumps's picture

I believe that capitalism does not need to be overthrown. What is needed is a rule of law that applies to everyone equally, including the queen and her spawn, the crony rich, crony bankers, crony military, crony politician and crony media.

The nutty thing about this is that those in power PRETEND that there is a rule of law that applies to all, while at the same time laughing about it and flaunting it, creating their own laws to benefit them. This is why they try to ridicule everyone who points out the obvious.

It is a disposal of the criminal class "benefits" system that is required ... but how, violence is wrong and those who have power, have power and have enslaved the rest of us through money and force.

Oh, and BTW, communism or liberalism does not help either. These twin philosophies are portrayed to their followers as systems leading to utopia, but the leaders remain the same and criminally benefit at the expense of the people. Were Stalin or Mao good communists or just murderous despots?

Mon, 09/14/2015 - 11:02 | 6546120 swmnguy
swmnguy's picture

The trouble is, capitalism always seems to result in the bulk of wealth being concentrated into very few hands, who then remake the rules of law so they don't apply to them.  It isn't even them flouting the law; the laws really don't apply to them by the time they're done.

Of course, that seems to be what happens with Socialism, Communism and Fascism, as well.  There's no perfect system.  What we do need is a system that implodes roughly once a generation.  The problem is subservience to systems themselves.

Mon, 09/14/2015 - 14:24 | 6547199 undertow1141
undertow1141's picture

That imho has more to do with debt ladened fiat currency then it does with capitalism. To run the fiat game they need to bend the rules and now they have done it so long and so hard they have destroyed the rule of law. 

"If a law is unjust, a man is not only right to disobey it, he is obligated to do so."  Thomas Jefferson

"The Constitution only gives people the right to pursue happiness. You have to catch it yourself." Benjamin Franklin

"Remember, democracy never lasts long. It soon wastes, exhausts, and murders itself. There never was a democracy yet that did not commit suicide."    John Adams

Mon, 09/14/2015 - 18:39 | 6548470 Mediocritas
Mediocritas's picture

Yep and Nature, which has been shaping complex systems through evolution for billions of years, provides endless examples of just that.

Nothing lives forever.

Mon, 09/14/2015 - 10:58 | 6546103 swmnguy
swmnguy's picture

Yes, no doubt the sensible fellows at the Telegraph have much better ideas than Corbyn and his ilk.

Like, one supposes, more subsidies to the banks, more control over the Bank of England  by the banks, more military spending, more participation in the games of US Empire, etc.  More antagonization of Russia, more slaughter in MENA, more trouble with China, etc.

Because that has so far worked out so well.

Mon, 09/14/2015 - 11:01 | 6546116 PleasedToMeatYou
PleasedToMeatYou's picture

Just because he is "from cloud cuckoo land" doesn't mean he is a cloud cuckoo or a nutjob. 

It's a meaningful difference, and I'm quite satisfied with the Terrorgraph's correction. 

Mon, 09/14/2015 - 11:01 | 6546117 Reaper
Reaper's picture

It's dumber to trust bankers who you cannot vote out.

Mon, 09/14/2015 - 14:17 | 6547144 Rastech
Rastech's picture

Let me guess. You support the EU's 'Technocrats' yet you can't vote them out either.

Mon, 09/14/2015 - 17:57 | 6548325 Reaper
Reaper's picture

NO. The EU technocrats are another protected nobility, which will arrange for their spawn to replace them.

Mon, 09/14/2015 - 11:01 | 6546121 EurGold
Mon, 09/14/2015 - 11:03 | 6546127 Omega_Man
Omega_Man's picture

USSUK here we come

Mon, 09/14/2015 - 11:07 | 6546133 Lea
Lea's picture

bringing the nationalized and subsidized banks under direct control to force them to lend and invest their resources to modernize our economy and put people back to work.”

Can somebody please tell me what's wrong with that?
Speculation, bubbles and not having a production economy are killing our countries.
The bankers are mad dogs that have to be on leashes.

Quote, "People like Corbyn will inspire the violent overthrow of capitalism for what they think will be the betterment of man. They are idiots and dangerous ones at that for you cannot eradicate human nature. Yet they will try."
Waw. Martin Armstrong, whoever that genius is, thinks capitalism is human nature? I wonder how humanity could manage to survive before capitalism was invented in the nineteenth century.
That would be a full 200 000 thousand years of humanity blissfully unaware of its "human nature".

Mon, 09/14/2015 - 11:14 | 6546184 Haus-Targaryen
Haus-Targaryen's picture

Humanity has always looked out for ourselves and our familes moreso than the "great unwashed masses."  

Capitalism harnesses our internal greed whereas socialism requires us to suppress it.  

We are born pre-wired for capitalism (e.g., the harder you work the better you are likely to do) -- socialism requires us to not only ignore the way humanity evolved, but requires us to do the exact opposit of it.  Its why it has never worked.  

Mon, 09/14/2015 - 14:23 | 6547181 Rastech
Rastech's picture

Via the use of 'Capital', Capitalism enables small and medium sized businesses to be created and to grow. This creates wealth, and jobs (typically, when allowed to function, around 70% of all jobs are with these businesses). These are the Geese that lay the Golden Eggs that everybody benefits from.

Any 'real' Socialist, who is for 'the workers', should be an enthusiastic and active supporter of wealth creating Capitalism, because most 'workers' get 'jobs' as a result.

But sadly, most of them are too stupid to see the wood for the trees.

PS. Debt based enslavement is the hallmark and tool of Corporate Socialism. If there is no 'Capital', there is no "Capitalism".

Mon, 09/14/2015 - 15:30 | 6547546 Haus-Targaryen
Haus-Targaryen's picture

You are a gentleman and a scholar. 

Mon, 09/14/2015 - 14:14 | 6547132 Rastech
Rastech's picture

Capitalism is just business. People to people, the normal flow and interaction of human beings. Capitalism  does not pretend to be a system of 'Government'.

Socialism isn't a system of Government either. But it does pretend to be one (and fails, constantly fails, as a result).

Mon, 09/14/2015 - 15:20 | 6547482 HowdyDoody
HowdyDoody's picture

Capitalism is the use of capital (money + assets). Those with suffiicient capital find it easy to acquire more capital. This is made is easier if said capitalists have no qualms of placing their own personal accumulation of capital over everything else. Concepts such as the free market just get in the way and are easily subverted by purchase of government or use of mafiosi.

Mon, 09/14/2015 - 18:20 | 6548405 BigJim
BigJim's picture

 Those with suffiicient capital find it easy to acquire more capital.

Do they now?

The sad fact is we've moved away from Free-market Capitalism, which is people (rather than bureaucrats) deciding how to invest deferred consumption (capital), and are now in the grip of something that I call "creditism": capital created out of thin air by a privileged cartel of counterfieters-cum-bankers, who destroy the loan as it's repaid but get to keep the interest they charge... the interest is not created along with the debt, so the interest cannot be paid unless monetary velocity is sufficiently high for the interest portion of the repayments to recirculate back to the bank from the borrower, before it gets consumed as repayment of principle.

In a free market system, you could have traditional capitalist and (limited) socialist organisations existing alongside of each other; by which I mean there could be people forming companies along traditional capitalist lines, where they raise capital on the stock market or through banks, and paying employees a wage; existing alongside, and competing with, co-operative companies formed by workers all pitching in capital and sharing the profits.

This is the big difference between Fascism, Socialism, Communism... and Free market Capitalism. Free market Capitalism isn't a system; all you need is a government providing a backbone of law and order, and the economy will principally comprise people transacting voluntarily with each other. It's self organising. It's not run by any one person or group. No government "policies" are needed. The others - Fascism, Socialism, Communism - are systems whereby bureaucrats are constantly pulling levers and trying to effect outcomes. They really are systems. That's why I always laugh when I hear people criticising the "capitalist system" - there isn't one.

Yes, various institutions arise to meet capitalist needs (and, later, parasitise on them) - stock markets, banks, etc - but they aren't capitalism.

Mon, 09/14/2015 - 11:14 | 6546150 loadsofmoney
loadsofmoney's picture

This guy will still get close to 30% of the popular vote but thanks to the elctoral system in the UK these voters and the 20% who vote for anti-EU parties have no influcence on policy.

 

The majory of English votes have felt wealthy enough to reject sociasim for the last 40 years. Still the establishment is concerned that they now dont have 'their man' in the other party of the 2 party system.

Mon, 09/14/2015 - 14:10 | 6547078 Rastech
Rastech's picture

It is not sane to keep voting for guaranteed failure.

Unfortunatley though, even the 'Conservative' Party is now deeply Socialist.

Likely they too will soon lose their voter base (Labour have written themselves yet another suicide note with this fool as a Leader, and an even bigger fool as Deputy Leader).

Barking mad idiot that he was, Ed Miliband really was the best talent that Labour had left in the Party. 'Scraping the barrel' doesn't even begin to describe the predicament they have now put themselves in.

Make no mistake, this is an absolute tragedy for the Country, which desperately needs a sane and rational opposition. This is too sad for words. :-(

Mon, 09/14/2015 - 15:27 | 6547523 HowdyDoody
HowdyDoody's picture

The UK has been a single party state since the rise of Blair. The only diffreneces have been superficial and sufficient to fool the gullible into buying into one face of the party rather than another. Ignore what they say, look at what they do and have done. Blair, Cameron, Brown, Milibland and Clegg are cookie cutter cutouts from some US politician factory.

Mon, 09/14/2015 - 11:23 | 6546227 GFORCE
GFORCE's picture

The Telegraph has descended into the gutter in the last few years. 

Mon, 09/14/2015 - 11:51 | 6546349 nevertheless
nevertheless's picture

Love to know who owns it...

Mon, 09/14/2015 - 11:57 | 6546392 smacker
smacker's picture

The Barclay Brothers who live on the island of Sark.

Mon, 09/14/2015 - 14:05 | 6547039 Rastech
Rastech's picture

Most of their employees are why I have called it the Daily Trotskygraph for a few years now,

They are as deranged as the Guardian.

Mon, 09/14/2015 - 11:45 | 6546230 Bunga Bunga
Bunga Bunga's picture

If the central bank acts in the favour of the 0.1% = independence. If it acts in the favour of all = no way, that's political abuse of central bank power.

Martin Armstrong does not get it right. There is no capitalism left to overthrow, because it was already overthrown by the 0.1% in 2008. 

And the "Js" hate Corbyn, go figure: http://www.thejc.com/news/uk-news/142144/the-key-questions-jeremy-corbyn...

Mon, 09/14/2015 - 14:04 | 6547033 Rastech
Rastech's picture

What is presently called "Capitalism" was destroyed a long, long time ago.

What we have instead, labeled as "Capitalism", is Cartel, Monopolistic, Anti-Competitive, Anti-Jobs, Racketeering Corporate Socialism.

It is really amusing that the Left despise their own product so much.

Mon, 09/14/2015 - 11:40 | 6546297 cheech_wizard
cheech_wizard's picture

When the solution is more taxes with never once considering cutting spending, time to hang the mother-fucking arseholes in gibbet cages until they starve to death and the flesh falls from their bones.

 

Mon, 09/14/2015 - 11:49 | 6546341 nevertheless
nevertheless's picture

It depends on who those taxes are on idiot!

 

And it depends on where you cut the spending, starting with the military...

Mon, 09/14/2015 - 12:06 | 6546436 cheech_wizard
cheech_wizard's picture

Try spelling out your plan... Your knee jerk response is just what I'd expect from someone who looks forward to his EBT card being promptly recharged every month.

 

 

Mon, 09/14/2015 - 11:56 | 6546377 smacker
smacker's picture

" "In the first week of a Labour government, democratic control of the major economic decisions would be restored by ending the Bank of England’s control over interest rates," McDonnell wrote. "

This is nonsense. McDonnell already knows that it was his beloved Marxist hero Gordoom Brown who gave the BoE independence of setting interest rates back in 1997. But it was never real independence, just make-believe to fool the markets who were jittery about Blair & Brown coming into office The BoE probably never changed interest rates without getting the nod-wink from the Treasury and this was especially true when the 2007-8 financial collapse occurred and rates were reduced to near-zero.

Mcdonnell talk now of ending BoE independence is just more socialist blather.

Mon, 09/14/2015 - 12:05 | 6546439 rita
rita's picture

The media feels it is allowed, intittled to say whatever sounds best towards the hand that feeds them, we all know who feeds them!

 

Mon, 09/14/2015 - 12:14 | 6546469 bentaxle
bentaxle's picture

Their former Chief Political editor, Peter Oborne, resigned a few months back. Far as he was concerned The Telegraph was in the pocket of the bankers, in this case HSBC. https://www.opendemocracy.net/ourkingdom/peter-oborne/why-i-have-resigne...

Ownership of the DT is in the hands of two billionaire brothers: http://www.bbc.co.uk/news/magazine-31517392

I think we can reasonably assume why they are labelling a party leader, a little more left of centre than the last guy, a nutjob or living in cloud cuckoo land.

So far as I'm concerned if he follows through on his word to cut the power of the UK's Central Bank down to size he'd get my vote. Sure the rest may not stack up and he may even fail economically. But carrying on as we are isn't tenable.

Mon, 09/14/2015 - 14:01 | 6547017 Rastech
Rastech's picture

99.999% of everything else they will do, nobody will like.

Mon, 09/14/2015 - 12:12 | 6546473 Kreditanstalt
Kreditanstalt's picture

In a G-7 filled with religious neocon militarist neoliberal believe-in-"terrorism" big government "conservatives" even the communists look better...!

Mon, 09/14/2015 - 14:00 | 6547000 Rastech
Rastech's picture

These are Trotskyites. To a Trotskyite, even Lenin, Stalin, Communism, Mussolini, Fascism, Adolf Hitler, National Socialism, EVERYTHING to them, other than Trotskyism, is "extreme Right Wing".

They are so far Left, so far removed from the edge of reality, there is nowhere further Left to go.

Trotsky was so deranged and extreme, even the Russian Communist Party booted him out.

Mon, 09/14/2015 - 15:52 | 6547682 where_is the_nuke
where_is the_nuke's picture

It's not about better or worse. These are two dialectically opposing forces. All we need is to find out the proper synthesis.

Mon, 09/14/2015 - 12:20 | 6546508 U4 eee aaa
U4 eee aaa's picture

You notice debt is never the problem with these people. It is always the way debt is used, the flow of debt the amount of debt, the gender of debt.

Never the debt, odious debts, repudiating debt and jailing bankers

Mon, 09/14/2015 - 13:27 | 6546807 hannah
hannah's picture

zero hedge is full of hypocritical idiots. they go on and on about how the central banks and the 1% are crooks but when a politician wants to fleece the rich they scream bloody murder.

 

i would love to soo 93 bil in tax credits go poof. that would be wonderful...

Mon, 09/14/2015 - 14:00 | 6547004 activisor
activisor's picture

Another example of the lies and propaganda of the useful idiots running our media. They are going to pay a heavy

price when the truth comes out. Won't be long now.

Mon, 09/14/2015 - 16:34 | 6547947 HowdyDoody
HowdyDoody's picture

A nice piece of trolling by the Russians following the election of Corbyn as leader of the Labour Party.

David Cameron: The Labour Party is now a threat to our national security, our economic security and your children's security.

Russian Embassy UK: Just imagine UK media headlines if the RUssian President called a leading opposition party threat to national security.

http://rusvesna.su/news/1442250832

Do NOT follow this link or you will be banned from the site!