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Government can’t protect everyone from inflation


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1 hour ago, SleepyJoe said:

What government can do is get on with delivering sustainable food, sustainable energy & the secure, vibrant, sustainable island they have given us to understand is their political mission

Are you okay?
 

This sounds like Alice in Wonderland stuff. What is their political mission? It’s bullshit like this that has got the island in the mess it’s in. 
 

Keep things simple, stop the dick waving, and  quietly plod along without trying to pretend we are something when we are not. 

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7 minutes ago, 2112 said:

Are you okay?
 

This sounds like Alice in Wonderland stuff. What is their political mission? It’s bullshit like this that has got the island in the mess it’s in. 
 

Keep things simple, stop the dick waving, and  quietly plod along without trying to pretend we are something when we are not. 

Yep, aim for the attainable, not the unrealistically sustainable. 

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1 hour ago, SleepyJoe said:

What government can do is get on with delivering sustainable food, sustainable energy & the secure, vibrant, sustainable island they have given us to understand is their political mission

The only sustainable island government wants is one that’s sustainable for them and their income expectations with the most minimum of effort involved. 

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21 hours ago, GD4ELI said:

He's right - you can't protect everyone, if you attempt to you'll just increase inflation. What you do is protect those at the bottom of the pile.

It is barely a month since they introduced their high inflation budget which is pumping millions of extra pounds into the economy and making inflation worse. But these clowns have the foresight of a carrot, with dopey comments last month about watching Inflation rather than taking action.

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1 hour ago, Josem said:

It is barely a month since they introduced their high inflation budget which is pumping millions of extra pounds into the economy and making inflation worse. But these clowns have the foresight of a carrot, with dopey comments last month about watching Inflation rather than taking action.

What would you have done?

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Where is this government pumping inflationary millions into the economy?

I only see it pumping money into itself & it's agencies, including an extra £6m+ for DfE - a department which I think told the Economic Policy Review Committee the other week that it was entirely self-funding

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12 hours ago, jackwhite said:

What would you have done?

I wanted to take immediate action to ease the squeeze on the cost of living last year: Here's a good and reasonable summary of the early proposals that I put forward last year: https://michaeljosem.com/building-a-strong-manx-foundation-easing-the-squeeze-on-the-cost-of-living-for-all-of-us/

Further, I published my manifesto with a whole series of proactive policies to ease the squeeze on the cost of living last year: https://www.gov.im/media/1374291/michael-josem-manifesto-for-all-of-us-govt.pdf

More recently, before the budget was released, the Manx TaxPayers' Alliance published a further dozen positive proposals to combat the harm of surging inflation: https://taxpayersalliance.im/a-dozen-positive-proposals-to-ease-the-squeeze-on-the-cost-of-living-in-the-isle-of-man/

 

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8 hours ago, SleepyJoe said:

Where is this government pumping inflationary millions into the economy?

I only see it pumping money into itself & it's agencies, including an extra £6m+ for DfE - a department which I think told the Economic Policy Review Committee the other week that it was entirely self-funding

The 2022/23 budget is spending £35.6 million of inflationary deficit spending. The expenditure that you describe is money which is pumped into the economy because the recipients of that money spend that money - it does not disappear.

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On 3/29/2022 at 10:19 PM, Josem said:

The 2022/23 budget is spending £35.6 million of inflationary deficit spending. The expenditure that you describe is money which is pumped into the economy because the recipients of that money spend that money - it does not disappear.


The ECB for one considers the accumulation of reserves inflationary - others worry that it might be

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17 hours ago, SleepyJoe said:


The ECB for one considers the accumulation of reserves inflationary - others worry that it might be

I think you're confusing two different things here: It is plausible for Government reserves to be inflationary for asset prices (not the current issue at hand), but this seems very unlikely to be true for consumable/retail/labour prices (which is the current issue at hand).

 

For example, Governments buying up gold (or other assets) to build a reserve of such things is likely inflationary for the prices of those things, because there is more money (the Government money) added to chasing a limited supply of those things. But since we're talking here about inflation of consumer prices, that's obviously irrelevant, because no Government is accumulating a reserve of consumer items or consumer services (is that even possible?). The closest relevant thing here is that the IOM Government artificially reduces the supply of housing by maintaining a reserve of undeveloped land - this is probably a big contribution to the very high cost of housing.

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