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spygirl

Foreign Aid - again

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https://www.bbc.co.uk/news/uk-politics-45796004

Comments are  good.

'Shovelling our hard earned cash into corrupt and broken countries, many of them who hate us and harbour terrorists.

Most of the time our "Aid" money leaves the country and just ends up buying mansion houses for the dictators in Chelsea and Kensington

Complete waste of money. '

 

UK should only spend aid money on two things  - birth control pills and vasectomy clinics

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How come the So-Called BBC comments section is not available on my phone but OK on my desktop?

What was she referring to when she said there should be an app so people could vote on what development projects their pension funds invest in?  She been in some meetings where they've been talking about raiding pension funds for UK infrastructure, etc and thought "oh we could do that for aid too"?  Monetary policy has been spent, so has fiscal policy, just leaves raiding personal wealth (but not that belonging to the offshored, trust funded, etc elites). 

Liked the comment about charity seeming to be poor people in rich countries giving money to rich people in poor countries!

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Foreign aid appears to be (at least half of the time) a deeply racist policy, saying (essentially) -- those feckless foreigners need our wise money (and intervention) to have a decent life.  We'd be better off encouraging trade with them (although that's got more than a little of 'don't worry little one, I'll buy your lemonade/cookies').  Anyway, it's all just an Empire-guilt thing -- it'll go as soon as the Empire-guilt goes away (IMO young people today don't have this guilt -- but that's an arguable point).

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22 minutes ago, Harley said:

She been in some meetings where they've been talking about raiding pension funds for UK infrastructure, etc and thought "oh we could do that for aid too"?  

Thats screwed my blood pressure and mental health up for the day, amazing what cunts want to do with other peoples money/future/retirement.

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20 minutes ago, dgul said:

Foreign aid appears to be (at least half of the time) a deeply racist policy, saying (essentially) -- those feckless foreigners need our wise money (and intervention) to have a decent life.  We'd be better off encouraging trade with them (although that's got more than a little of 'don't worry little one, I'll buy your lemonade/cookies').  Anyway, it's all just an Empire-guilt thing -- it'll go as soon as the Empire-guilt goes away (IMO young people today don't have this guilt -- but that's an arguable point).

Why stop at Aid.

We need to go to Afica and start running the place, tell them which crops to grow. Run the farm for them. They can owkr on the farm and we can provide food and lodging for their work.

 

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1 minute ago, spygirl said:

Why stop at Aid.

We need to go to Afica and start running the place, tell them which crops to grow. Run the farm for them. They can owkr on the farm and we can provide food and lodging for their work.

 

Seriously (I have friends there), the Chinese have beaten us to it!  Massive integration going on.  For example, one of his kids is at a Chinese Uni and being sponsored by a Chinese firm.

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48 minutes ago, Harley said:

How come the So-Called BBC comments section is not available on my phone but OK on my desktop?

What was she referring to when she said there should be an app so people could vote on what development projects their pension funds invest in?  She been in some meetings where they've been talking about raiding pension funds for UK infrastructure, etc and thought "oh we could do that for aid too"?  Monetary policy has been spent, so has fiscal policy, just leaves raiding personal wealth (but not that belonging to the offshored, trust funded, etc elites). 

Liked the comment about charity seeming to be poor people in rich countries giving money to rich people in poor countries!

Bloody hell; I can see that happening too.

In the last twenty years successive governments have crippled pension funds by first taking away their ability to recover the tax credit on dividends (cheers Brown) and then forcing them to hold substantial investments in government bonds "for safety" in an ultra low interest rate environment where all that these "investments" are doing is steadily losing money to inflation.

It is only a small step to require them first to "invest" in government infrastructure projects and then in government sponsored overseas infrastructure projects.  Or even a levy on pension funds to pay foreign aid.

The government clearly sees them now as a very attractive source of cheap finance that they can tap.

People in defined contribution schemes aren't seeing these effects clearly but they can be seen by proxy in the deficits arising in defined benefit schemes.

 

From September 2016:

Quote

 

The combined deficit of the UK’s 6,000 defined benefit pension funds has grown by £100bn in the last month, bringing the total deficit to £710bn, according to a new report.

The research, by the accountants PricewaterhouseCooper, found that the pension schemes have total assets of £1,450bn but are liable to pay out about £2,160bn in contractual promises to existing and former workers.

 

Quote

 

On the most rigorous actuarial measure, which assumes that a company has to buy its way out of its pension scheme and offload the liabilities to an insurance company, the combined deficit of UK companies is now £1.54tn, said PwC.

To put the deficit into context, £1.54tn is not far short of the total £1.87tn output of the entire UK economy in 2015.

 

 

(I'm not providing the link as it's the Guardian)

 

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8 minutes ago, Frank Hovis said:

Bloody hell; I can see that happening too.

In the last twenty years successive governments have crippled pension funds...……

Then enjoy my 9th  "Financial Risk Management" post about regulatory risks over in the "Investing and Money" section!  Enjoy the quiz and links.

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I think the thing to remember is its fully termed 'development aid' 

When people think of 'foreign aid' they probably think of quake/tsunami/hurricane/disaster relief, famine aid, emergency situations/disease outbreaks, that kind of thing. 99% of the current 'aid' budget is NOT used for such endeavours. 

They don't think of subsidies being used so millionaires can build 'luxury green resorts' for other millionaires. But the reality is, nowadays, most of it is indeed 'development aid', which has nothing to do with basic living standards, and more with boosting rival economies and handouts to often already profitable businesses. 

 

People seem to think 0.7% of GDP is a tiny amount...i guess they rationalize it by saying my income tax is over 20%, 0.7% being a mere fraction of that....and yet, long run productivity growth iss, in reality barely 0.7% of GDP annually. Indeed, I think such a number was selected by the UN precisely to sentence to any country foolish enough to actually participate in such a target to zero growth. They want a common standard of living globally, after all. 

Other than a few minnow states like Norway, with vast resources, no western government is actually idiotic enough to try and get anywhere close to 0.7%. No other government except the UK conservative party from 2010 on, at least. I doubt even labour would have realistically tried, even if they remained in power post 2010. They'd of thrown it to the NHS instead. 

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13 minutes ago, Frank Hovis said:

From September 2016:

Quote

 

The combined deficit of the UK’s 6,000 defined benefit pension funds has grown by £100bn in the last month, bringing the total deficit to £710bn, according to a new report.

The research, by the accountants PricewaterhouseCooper, found that the pension schemes have total assets of £1,450bn but are liable to pay out about £2,160bn in contractual promises to existing and former workers.

 

Quote

 

On the most rigorous actuarial measure, which assumes that a company has to buy its way out of its pension scheme and offload the liabilities to an insurance company, the combined deficit of UK companies is now £1.54tn, said PwC.

To put the deficit into context, £1.54tn is not far short of the total £1.87tn output of the entire UK economy in 2015.

An excellent couple of catches.  A deficit even when asset prices are at an all time high!  And several companies are indeed actively selling their pension books to insurance companies.  Wonder about the small print on that and how it works out.  I'll add this one to my "Employer" risk if I may.    

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2 minutes ago, Harley said:

 

An excellent couple of catches.  A deficit even when asset prices are at an all time high!  And several companies are indeed actively selling their pension books to insurance companies.  Wonder about the small print on that and how it works out.  I'll add this one to my "Employer" risk if I may.    

Please do!

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56 minutes ago, dgul said:

Foreign aid appears to be (at least half of the time) a deeply racist policy, saying (essentially) -- those feckless foreigners need our wise money (and intervention) to have a decent life.  We'd be better off encouraging trade with them (although that's got more than a little of 'don't worry little one, I'll buy your lemonade/cookies').  Anyway, it's all just an Empire-guilt thing -- it'll go as soon as the Empire-guilt goes away (IMO young people today don't have this guilt -- but that's an arguable point).

So is Tesco a force for good by growing huge amounts of flowers in Africa?

(All water is valuable, but wasting water to grow flowers to sit on the decadent tables of westerners seems about as insane as it can get)
 

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2 minutes ago, PatronizingGit said:

I think the thing to remember is its fully termed 'development aid' 

Indeed, I chuckled at the article's photo of a pallet of aid when that's maybe more PR than reality.  I would not be surprised if a fair chunk of the aid budget is used to help close business deals, etc.  That's using our money to enrich corporations, oh but we get the trickle down of jobs, etc, just like low wages, low corporate tax rates, etc.

 

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30 minutes ago, Frank Hovis said:

(I'm not providing the link as it's the Guardian)

I like you!  Who says being PC has to be a one way street!

Edited by Harley

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38 minutes ago, The Masked Tulip said:

If you believe the Qanon stuff then the US foreign aid cash is allegedly used as a giant slush fund for the elite.

Why would ours be any different?

Well yes.

A lot of US aid, the food drop stuff tends to be good - youll note that US food rleief is always rpesent in crisis around the world.

Admitingly its a lsuh fund for faremrs etc. But at least they drop stuff, unlike our the muzzers.

Then there's the development aid cash stuff. Which are money flows to allies.

Im all for 'Britians Got Aid' contest. Get the aid and whos doing it out in the open.

Stop all those dubious charidee types buying 13yo's with bags of rice.

 

48 minutes ago, sarahbell said:

So is Tesco a force for good by growing huge amounts of flowers in Africa?

(All water is valuable, but wasting water to grow flowers to sit on the decadent tables of westerners seems about as insane as it can get)
 

Broadly speaking - Yes.

It offers cash for a high value cash crop that uses a lot of African resources - labour and water (Africa has plenty of water).

Tesco offer some oversight of money flows, unlike Oxfam.

 

Edited by spygirl

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27 minutes ago, Harley said:

 

An excellent couple of catches.  A deficit even when asset prices are at an all time high!  And several companies are indeed actively selling their pension books to insurance companies.  Wonder about the small print on that and how it works out.  I'll add this one to my "Employer" risk if I may.    

Didnt we have the healthiest private pensions in Europe in 1997?

 

My dad, whose interest in politics basically begins and ends with 'which party is my pension safest with' voted for Labour in 1997, and instantly regretted it after their first budget when they scrapped the dividend tax credit, which, he said, by 2007, left pension funds in deficit to pretty much the same amount, to within a few million (pennies when compared to overall pension funds) to the amount of tax govt extracted via the removal of the tax credit. Not sure if he was right, or this was just coincidence. 

Needless to say, 1997 was the first and last time he voted labour since his student days. 

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52 minutes ago, Frank Hovis said:

Please do!

Thinking about your MSM article quotes, maybe a bit of social engineering along the lines of planting some seeds for the eventual consensus that this is all too dangerous and best these pension schemes are forced to buy a certain percentage of government bonds!  As they say, boil a frog, slowly.

Edited by Harley

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20 minutes ago, The Masked Tulip said:

@spygirl - you cannot say that. Delete the last line of your first section where you name someone. It is libel. Could cost you serious money.

Tahnkyou legally jimminy cricket.

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Foreign aid is basically a loan, at preferential rates. You won't build a new well or church with it, but these tanks, and missiles are good value.:Old:

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3 minutes ago, MrPin said:

Foreign aid is basically a loan, at preferential rates. You won't build a new well or church with it, but these tanks, and missiles are good value.:Old:

What? They pay it back?

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16 minutes ago, MrPin said:

Foreign aid is basically a loan, at preferential rates. You won't build a new well or church with it, but these tanks, and missiles are good value.:Old:

As Marie Antionette didnt say - Let them eat bullets.

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2 hours ago, sarahbell said:

So is Tesco a force for good by growing huge amounts of flowers in Africa?

(All water is valuable, but wasting water to grow flowers to sit on the decadent tables of westerners seems about as insane as it can get)
 

That's a consumer choice problem, not a 'doing trade with Africa / 3rd world' problem.  

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