Europe’s Inflation Problem – Paul Krugman – NYTimes.com

Paul Krugman, Laureate of the Sveriges Riksban...

Paul Krugman, Laureate of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2008 at a press conference at the Royal Swedish Academy of Sciences in Stockholm (Photo credit: Wikipedia)

 

This is an excellent short blog from Paul Krugman, writing in his NYT op-ed blog. Check it out!

 

via Europe’s Inflation Problem – NYTimes.com.

 

In my view, the article correctly savages the European Commission for excessive austerity which have left large parts of Southern Europe an economic and social disaster zone.

 

Any thoughts?

 

 

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John Gelmini’s Opinion: Bill for sacking troops to hit £500m ex Mail Online

Dr Alf poses interesting questions and like me some years ago wonders what on earth is happening with the MOD and more broadly, Government spending.

For me, the MOD is no longer a mystery.

This realization came some years ago when I looked at the record of MOD spending and its performance on projects, procurement and supply chain.

Since I was born, the MOD has not completed a single project or piece of procurement on time and to budget with the average over budget amount being quadruple the original estimate.

The worst example was the project for the Bowman Radio which was 12 times over budget and more than 12 years late.

Over the years, I have asked people with military backgrounds how this can possibly be, given that the standard used for all Government projects is Prince 2 which is the Government’s own standard and only allows for project tolerances of 6% to 8%.

The answers I have been given range from “mission creep” to low initial bids to Generals and Civil Servants and Ministers “gold plating requirements”, to Ministerial meddling to changes of Government resulting in expensive bids being junked.

To my mind, this might explain prices perhaps doubling over the course of a long build cycle of something like an aircraft carrier but not quadrupling or even more than that.

If one looks at the amount of money spent as a proportion of the total spend by Government, on defence, even I, as a non accountant, can see that the numbers do not add up.

Our Tri-Forces is now down to less than 100,000, too small to be able to defend the country or our sea lanes and this at a time when more than 50% of our food is being imported, our population is rising, we lack a coastal protection vessel to watch our coastline and 5000 farmers a year are going bankrupt whilst another 100 a year or more commit suicide.

The plan has always been to turn the UK military into a “plug and play ” component of US Forces and a new European Army which between them will form the basis of a World Army once Russia and China have been brought to heel.

Unfortunately for the proponents of this, Europe lacks the money to perform this role and the UK is so heavily indebted thanks to those behind the banking crisis who enriched themselves at taxpayers expense that it cannot even maintain a full-time professional Tri-Forces and now has to resort to sacking the Forces we have and trying to make up the difference with reserves who are too few in number.

The media, including the Daily Mail, concentrate on the redundancy and extraordinary costs associated with the sackings but does not deal with these bigger questions because they are not permitted to report on them.

This is because these matters are part of the bigger Bilderberger Agenda of creating a World Army in stages, destabilizing the Middle East, destabilizing Russia, encircling China and formulating a Global currency starting with the Amero as and when the Euro and the dollar fail or are made to fail.

Government spending

Government spending (Photo credit: 401(K) 2013)

With an understanding of this bigger picture, one can see why the present Government and others in Europe and America since 1954, when the Bilderbergers were established in the Osterbeek hotel in the Netherlands with Prince Bernhardt at its head, are acting as they are.

Dr Alf asks about “An effective Media”, it is clearly becoming less effective as the Royal Charter under Leveson is set up and the politicians smarting at the Telegraph’s expose of MPs untrammeled greed and malfeasance during the expenses scandal now see their opportunity for revenge.

Labour, as an Opposition, is weak and ineffectual hence the rise of direct action by militant Trades Unionists like Unite, the RMT and the Teaching Unions and the BBC is little more than an Establishment mouthpiece packed with overpaid executives doing non jobs.

The UK is being managed into decline and lower expectations for the many and I cannot see on present trends that this will change for anything other than perhaps 4% of the population.

John Gelmini

 

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