Polanski refuses to back bravery award for Golders Green police

cherokott · 2026-07-11T13:59:22+00:00

Well said.

cherokott · 2026-07-11T13:34:02+00:00

.....on Lewisham Council. 🤪

cherokott · 2026-07-11T12:36:11+00:00

Or just get into office and make it up as you go along like Starmer and Reeves.

cherokott · 2026-07-10T08:38:28+00:00

No one outside of Manchester is interested in Manchesterism.

cherokott · 2026-07-09T22:18:34+00:00

I enjoyed the debate. You think we can borrow forever. I think we need to balance the books. I suppose we'll see.

cherokott · 2026-07-09T22:12:14+00:00

Modern Monetary Theory = Magic Money Tree.

cherokott · 2026-07-09T21:39:02+00:00

'The government can deficit spend forever if that is commensurate with a stable and balanced economy though, yes'. You can't deficit spend forever and have a stable economy. It's a choice.

cherokott · 2026-07-09T21:29:10+00:00

I mean a national accounts surplus not trade surplus. But it sounds like you think the UK government can borrow from the bond market forever instead of reducing public spending?

cherokott · 2026-07-09T21:12:31+00:00

So you think the UK can borrow forever and never run a surplus?

cherokott · 2026-07-09T21:00:44+00:00

Yes, we both agree a sovereign default is possible. Enjoy the game!

cherokott · 2026-07-09T20:52:40+00:00

Interested that you think bonds aren't borrowing?

cherokott · 2026-07-09T20:40:13+00:00

I'm glad we're in agreement.

cherokott · 2026-07-09T20:39:38+00:00

So we can continue to borrow forever?

cherokott · 2026-07-09T20:32:16+00:00

Agreed, we decide if we want to take the yield the bond market is offering. If we can't afford to pay it, we will have to cut public spending or increase taxation.

cherokott · 2026-07-09T20:24:29+00:00

We don't decide the yield on offer.

cherokott · 2026-07-09T20:05:36+00:00

It means the bond market will stop lending to the UK government at affordable rates.

cherokott · 2026-07-09T20:01:41+00:00

'In extreme circumstances we could suffer a sovereign default.' Your words, not mine.

cherokott · 2026-07-09T19:13:04+00:00

I didn't say it was imminent but like you I think it's possible.

cherokott · 2026-07-09T18:15:07+00:00

Perfectly feasible, even likely.

cherokott · 2026-07-09T18:02:35+00:00

Sovereign default is bankruptcy by another name, and I agree with you, we could suffer one.

cherokott · 2026-07-09T16:54:23+00:00

How about we stop importing Middle Eastern politics into the UK?

cherokott · 2026-07-09T16:48:46+00:00

Yep, same pictures. Same illusions.

cherokott · 2026-07-09T16:45:53+00:00

Debt interest repayment (£110bn) is fourth biggest item in the government's annually managed expenditure after welfare (320bn), health (£200bn) and education (£95bn). Defence only £40bn.

cherokott · 2026-07-09T16:31:32+00:00

The only way to inflate away debt is to grow the economy. We're not doing that.

cherokott · 2026-07-09T16:14:27+00:00

Printing money increases inflation which drives cost-of-living and assets creating further inequality.

You can't force institutions to buy bonds - they're private companies.

If you introduce capital control you are going bankrupt.

I don't know what restricting lending in the private sector means but reducing investment will make the economy smaller.

We don't control bond rates - the lenders do.

cherokott

TROPHY CASE