Osbourne’s ‘worker rights for share’ Beecroft scheme dead? Max Keiser on politicians taking advantage of financial illiteracy – BBC’s Daily Politics


Not yet chancellor George Osborne on how to avoid
inheritance tax and get the state to pay
for elderly care.

11 comments on “Osbourne’s ‘worker rights for share’ Beecroft scheme dead? Max Keiser on politicians taking advantage of financial illiteracy – BBC’s Daily Politics
  1. ronron says:

    time should be taken to make the public more aware. sorry were out of time. maybe next time.

  2. Ignorant prole says:

    It’s true – you ask the majority of working class people, thse at the sticky end of financial affairs, and you’ll find a lack of education about economics.
    Economics didn’t get a single mention in my school.

    What’s all this bonds, guilts and currency stuff ?
    Dunno.
    Could I draw a flow chart of how money circulates in the UK economy ?
    Nope.
    What are the talking heads on economics programs on about ?
    Beats me, sounds like gibberish people with white collars who have been to university understand – not for the likes of us, guv.

    Doesn’t help that economics really isn’t based on common sense anyway.

  3. Imsilverboy says:

    @maxkeiser
    Hey Max!
    Have you noticed that these tv channels only get people in the studio with you, who are somewhat on a similar opinion as you. They know you too well man!

  4. Internet serfer says:

    Shameless deceit.

  5. Blah Blah says:

    UK citizens are financially uneducated you say?
    4,000% interest on a payday loan you say?
    Wonga.com are Tory donors you say?
    I see no problem here.

  6. Dilberta says:

    I couldn’t help noticing how she interrupted you and changed the subject when you mentioned Libor and money laundering. Complete corporate tools – some corporate censor probably yelled in her earpiece,”shut him UP!”

  7. jischinger says:

    I think a good number of people have reached the end of their rope – more and more don’t care one way or the other about the debt because they have no say in how to control it.

    They know instinctively that the elite will always make out well.

    They seem willing to accept their fate as debt slaves, while hoping the system will crash on its own, but with the big wish that they will be lucky enough to win lottery before the hammer falls.

    one thing is certain we haven’t reached the breaking point yet, which is a pretty good indicator that people have a lot more suffering to go through before any real change, for the better of all, occurs.

  8. O says:

    I print money all the time.
    It’s called a credit card.
    It’s called a loan.

  9. Alf says:

    @Max…perfect, you stand head and shoulders above any other economic
    commentator, people are now desperate enough to listen to the truth,
    but maybe it’s too late…I hope not.

  10. The Great British Jumble Sale says:

    Thatch leaves it to the people :-

    http://online.wsj.com/article/SB10001424052970203518404577096341880141300.html

    ” In essence, Margaret Thatcher’s views about the relationship between money and politics are simple—her critics would say reductive. In 1949, when, as a 23-year-old, unmarried woman, Margaret Roberts was adopted as a Conservative parliamentary candidate for the first time, she said: “In wartime there was a slogan ‘It all depends on me.’ People seem to have forgotten that, and they think it all depends on the other person.”

    “Don’t be scared by the high language of economists and Cabinet ministers,” she went on, “but think of politics at our own household level.”

    She wasn’t scared, and she never really deviated from such doctrines. They acquired great resonance in the 1970s, when inflation and excessive government borrowing and spending had become the norm. Indeed, they won her the general election of 1979. She preached that a household—and, most particularly, the woman who runs its weekly budget—knows that you cannot ultimately spend more than you earn and that you must “provide for a rainy day.”

    The same mythical housewife, Mrs. Thatcher asserted, also knows that if you do not provide you cannot be certain that anyone else will. Living beyond your means leads to dependency instead of independence, and dependency leads to degradation.

    This was as true for nations, Mrs. Thatcher maintained, as for individuals. She was quite sophisticated enough to understand that nations can and sometimes must borrow and spend on a huge scale. She respected the teachings of John Maynard Keynes, while being highly suspicious of the subsequent generations of left-wing “Keynesians.”

    But she stuck to her household verities. If Britain could better align what it spent and borrowed with what it earned, then the country could trust the native skills of its people to do the rest. It would once again stand tall in the world and make its own decisions. ”

    ….native skills of the people…. hmm…

  11. Danny Cunnington says:

    What an idiot that woman is. She complains about “financial illiteracy” whilst pushing a shopping trolley around to try to get people to “understand” inflation and the difference between RPI and CPI. Unmentioned is that nearly everything in her trolley is a food item which is not included in the inflation figures.

    She states: “If these things cost £10.00 today and in a year the same items cost £10.25 than inflation is 2.5%.” This is of course false and does not represent either CPI or RPI. Financial illiteracy by the population is by design. It’s part of the greater fool theory that kleptocrats rely on to bleed their populations.

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