Public ownership will cost nothing - John McDonnell

Public ownership will cost nothing - John McDonnell

Postby MungoBrush » Sat Feb 10, 2018 8:50 pm

Can you believe the naivety if this man?
Does he know nothing about financial economics?
This is financial economics 101
Carrillion collapsed under a "mountain of debt"
Hasn't he learned anything?
McDonnell wants the same demise for the UK

http://www.bbc.co.uk/news/uk-politics-43014861
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Re: Public ownership will cost nothing - John McDonnell

Postby Rocthedog » Sun Feb 11, 2018 8:58 am

MungoBrush wrote:Can you believe the naivety if this man?
Does he know nothing about financial economics?
This is financial economics 101
Carrillion collapsed under a "mountain of debt"
Hasn't he learned anything?
McDonnell wants the same demise for the UK

http://www.bbc.co.uk/news/uk-politics-43014861



This man is a very dangerous Marxist, and is insane to boot. He supports Momentum the labour parties ss storm trooper battalions. He calls for civil unrest to bee supported by his SS Battalions. as I said he is very dangerous.
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Re: Public ownership will cost nothing - John McDonnell

Postby Guest » Sun Feb 11, 2018 9:14 am

Im undecided as to whether he is lying knowingly, lying somewhat unknowingly or actually as stupid as his claims show him to be? :dunno:

The gullible idealogues love him though. Them i am not confused about. Gullible thick idiots.
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Re: Public ownership will cost nothing - John McDonnell

Postby Cannydc » Tue Feb 13, 2018 7:55 pm

“The next Labour government will put democratically owned and managed public services irreversibly in the hands of workers, and of those who rely on their work.

“We will do this not only because it’s right, not only because it’s the most efficient way of running them, but also because the most important protection of our public services for the long term is for everyone to have and feel ownership of them.

“We aren’t going to take back control of these industries in order to put them into the hands of a remote bureaucracy, but to put them into the hands of all of you – so that they can never again be taken away.

“Public ownership is not just a political decision, it’s an economic necessity. We’ll move away from the failed privatisation model of the past, developing new democratic forms of ownership, joining other countries, regions and cities across the world in taking control of our essential services.”


Here here.

Privatisation has been a complete ripoff, with our utilities owned by the Dutch, Germans, French, Chinese.... anyone but UK. Profits milked from customers go abroad, and so-called regulators are toothless and hopeless to intervene.

Enough is enough.

Here's something we can REALLY take back control of. And keep for ourselves. Look at Germany. Germany. Railways are almost all run by the state and regional authorities. Public utilities provide electricity, water and gas, as well as running the sewage disposal system. Roads are fixed by public entities. Even VW is 12% owned by the Lower Saxony state government. And workers have representation on the boards of all large companies.

Pretty Commie, hey? How is it then that Germany's not exactly renowned for being a basket case?
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Re: Public ownership will cost nothing - John McDonnell

Postby Cannydc » Tue Feb 13, 2018 8:13 pm

The point he is making is that shareholders will (obviously) have to be compensated. Although the government would arguably have to borrow the money, they would have gained an asset worth exactly the same amount as the debt.

This is the same as when companies borrow to acquire another company. The accountants don't just take into account the debt - they account for the asset gained too.

The income derived from the asset purchased will in time pay off the debt, but bear in mind that no company works on the basis of having to pay off debt asap: businesses just don't obey the 'living within your means' householder maxim touted by Thatcher.

Of course, governments have an additional option - that of creating the money for the purchase. This is the same as when a company borrows money to buy an asset - only in that case the bank creates the money. In both cases, there is no inflationary pressure.

The government created £375 billion through the QE programme, by the way, which could have bought quite a few infrastructure companies. But only the City got the benefit of all that new money. Quite a lost opportunity.

What McDonnell is suggesting is not North Korea - it is business as usual for almost every country in the EU and across the world. Only in the UK (and the US, obviously) is this type of policy seen as 'communism' and an existential threat.

When we in the UK collectively learn about economics we will be much more fitted to taking our place as a grown-up member of the global community.
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Re: Public ownership will cost nothing - John McDonnell

Postby Rolluplostinspace » Tue Feb 13, 2018 9:19 pm

Cannydc wrote:
When we in the UK collectively learn about economics we will be much more fitted to taking our place as a grown-up member of the global community.

The people prefer the propaganda about economics.
The fact that Labour governments borrow less and pay back more than all Tory governments all the time is written out of reality by the Tory owned media.
The Tories loot the economy.
Homelessness rises under Tory governments and services always suffer.
Services for the people are painted as something for nothing.
Under Labour it's the opposite.
People need to understand that a nation is the people in any given area and system.
Libraries health services public transport and utilities should belong to those people.
Plenty of room left for profiteering to your heart's content.
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Re: Public ownership will cost nothing - John McDonnell

Postby Guest » Wed Feb 14, 2018 5:50 pm

Grayling was cunted out for giving Virgin East Coast a £2.3 billion golden goodbye, so much so that the hopeless moron gave them another 2 years to run West Coast.
A week later after waking up in a massive shitstorm the stupid c**t decided not to bail out his muggy mates at Stagecoach/Virgin after all.

Which morons votes for these Tory cunts playing fast and loose with taxpayers money?
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Re: Public ownership will cost nothing - John McDonnell

Postby Stooo » Wed Feb 14, 2018 7:30 pm

I'm not keen on the renationalisation of RM, I've got shares in it. RM has a solid union with the CWU and recently, a good dose of collective bargaining with wages and pensions. It's going to cost a lot to buy back those shares.
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Re: Public ownership will cost nothing - John McDonnell

Postby Cannydc » Wed Feb 14, 2018 8:17 pm

Stooo wrote:I'm not keen on the renationalisation of RM, I've got shares in it. RM has a solid union with the CWU and recently, a good dose of collective bargaining with wages and pensions. It's going to cost a lot to buy back those shares.


Shouldn't do, Stooo.

They were sold off dirt cheap to their Tory cronies in the city....
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Re: Public ownership will cost nothing - John McDonnell

Postby Guest » Thu Feb 15, 2018 12:01 pm

Cannydc wrote:
Stooo wrote:I'm not keen on the renationalisation of RM, I've got shares in it. RM has a solid union with the CWU and recently, a good dose of collective bargaining with wages and pensions. It's going to cost a lot to buy back those shares.


Shouldn't do, Stooo.

They were sold off dirt cheap to their Tory cronies in the city....


Carillion's share price was 233.90p 11 months ago.

The Tories are going to renationalise the East Coast Line for £0....
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Re: Public ownership will cost nothing - John McDonnell

Postby Rocthedog » Thu Feb 15, 2018 1:30 pm

Cannydc wrote:
Stooo wrote:I'm not keen on the renationalisation of RM, I've got shares in it. RM has a solid union with the CWU and recently, a good dose of collective bargaining with wages and pensions. It's going to cost a lot to buy back those shares.


Shouldn't do, Stooo.

They were sold off dirt cheap to their Tory cronies in the city....


What is that maniac going to do man the trains with Momentum people. Personally I was never in agreement to nationalise the Railways. But it is so today. All the promises Labour are making through this idiot will bankrupt the country pretty damn quick. You can talk about Germany as much as you like, this is the UK. With the Unions in control it will be fucked right up damn quick. I remember the unions as the gimme, gimme, brigade, not the we will help you brigade. Nationalisation fucking Barmy in the world of today. Yep back to rubbish piled high in the streets, bodies unburied, trains running so late they nearly went backwards. power stations on strike. Oh ye I remember the Unions. Winter of discontent, come on you Labourites justify those years. Ye I remember the Unions.

Oh I know we have a piss poor performance by the railways of today, but think on what sent this country on the privatisation trail. The fucking Unions opened that door with their gimme, gimme demands, and causing major strikes. Labour will never be allowed to govern this country while there are many people with long memories.
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Re: Public ownership will cost nothing - John McDonnell

Postby Cannydc » Thu Feb 15, 2018 1:39 pm

Rocthedog wrote:
Cannydc wrote:
Stooo wrote:I'm not keen on the renationalisation of RM, I've got shares in it. RM has a solid union with the CWU and recently, a good dose of collective bargaining with wages and pensions. It's going to cost a lot to buy back those shares.


Shouldn't do, Stooo.

They were sold off dirt cheap to their Tory cronies in the city....


What is that maniac going to do man the trains with Momentum people. Personally I was never in agreement to nationalise the Railways. But it is so today. All the promises Labour are making through this idiot will bankrupt the country pretty damn quick. You can talk about Germany as much as you like, this is the UK. With the Unions in control it will be fucked right up damn quick. I remember the unions as the gimme, gimme, brigade, not the we will help you brigade. Nationalisation fucking Barmy in the world of today. Yep back to rubbish piled high in the streets, bodies unburied, trains running so late they nearly went backwards. power stations on strike. Oh ye I remember the Unions. Winter of discontent, come on you Labourites justify those years. Ye I remember the Unions.

Oh I know we have a piss poor performance by the railways of today, but think on what sent this country on the privatisation trail. The fucking Unions opened that door with their gimme, gimme demands, and causing major strikes. Labour will never be allowed to govern this country while there are many people with long memories.


Not much justification needed then really, is there ?

And you, along with every Tory, knows full well that the unions were eviscerated and remain so. The rest is simply scaremongering. Thankfully, people under 45 tend not to believe the scare stories, and vote accordingly.

JC4PM :canny:
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Re: Public ownership will cost nothing - John McDonnell

Postby Rocthedog » Thu Feb 15, 2018 1:49 pm

Cannydc wrote:
Rocthedog wrote:
Cannydc wrote:
Stooo wrote:I'm not keen on the renationalisation of RM, I've got shares in it. RM has a solid union with the CWU and recently, a good dose of collective bargaining with wages and pensions. It's going to cost a lot to buy back those shares.


Shouldn't do, Stooo.

They were sold off dirt cheap to their Tory cronies in the city....


What is that maniac going to do man the trains with Momentum people. Personally I was never in agreement to nationalise the Railways. But it is so today. All the promises Labour are making through this idiot will bankrupt the country pretty damn quick. You can talk about Germany as much as you like, this is the UK. With the Unions in control it will be fucked right up damn quick. I remember the unions as the gimme, gimme, brigade, not the we will help you brigade. Nationalisation fucking Barmy in the world of today. Yep back to rubbish piled high in the streets, bodies unburied, trains running so late they nearly went backwards. power stations on strike. Oh ye I remember the Unions. Winter of discontent, come on you Labourites justify those years. Ye I remember the Unions.

Oh I know we have a piss poor performance by the railways of today, but think on what sent this country on the privatisation trail. The fucking Unions opened that door with their gimme, gimme demands, and causing major strikes. Labour will never be allowed to govern this country while there are many people with long memories.


Not much justification needed then really, is there ?

And you, along with every Tory, knows full well that the unions were eviscerated and remain so. The rest is simply scaremongering. Thankfully, people under 45 tend not to believe the scare stories, and vote accordingly.

JC4PM :canny:


Says Canny Hopefully, knowing he's wrong. If Labour get back into power they will give Unions their head ask Corbyn. He has already said he will strengthen the unions. So your point will become invalid. Nice try though. :dafinger:
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Re: Public ownership will cost nothing - John McDonnell

Postby Cannydc » Thu Feb 15, 2018 1:57 pm

And so he should.

For far too long the boot has been on the other foot.

I am proud of the link between trade unions and the Labour Party — it is not just a historic link, it’s what makes Labour succeed.

We win when we’re in touch with the needs and the concerns of millions of working people and their families — the people trade unions represent.

Too often in the past Labour has been cowed into acting like it is ashamed of our relationship with trade unions.

Well, I’m proud of it. Proud to be a party funded in large part by the cleanest money in politics — democratically voted on by thousands of ordinary workers.

Take a sideways look at who funds the Nasty Party - nasty people with nasty agendas.
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