Which is more important now: political reform or the economy?

[FrakkinTheReturningOfficer]

Political reform is going to be bad for the economy, in the short term at least.

Sorting out the economy probably means putting political reform on hold.

Which would you choose?

My reference was in the context of market turmoil.

As a centre leftie, I am entitled to use the normal market and tax instruments like anyone else but I am not complaining about tax rates. There is a difference between being a nonDom and using straightforward tax allowances that we are all entitled to.

I think my original point was that those who are saying that we should cobble together a coalition for fear of market turbulence,; many of them are making money from this volatility so I don't by that argument.

I don't by buy that argument

Absolutely they are diddy. and frankly, the forces scaremongering the most simply want a conservative govt...using the markets as a stick to beat all concerned with.

It's my fault for asking.

But it's an interesting point.

Gambling is gambling. Why should ordinary people roll over and not make money when they can? I'm kind of assuming TDiddles isn't in fact Goldman Sachs. Scale is important.

Lifestyle politics are a massive error of the modern (not-so) left. Oh i recycle therefore i'm better than X oh i recycle AND i give to amnesty, therefore i'm better than you...it can go on for ever...until you reach eco-primitivists who say we are all scum for using electricity.

"Great property is theft but property is our salvation."

Given the fact that we are now having to bail out Greece as per the stitch up cobbled together here in Brussels by Sarkozy and Merkel yesterday, we need to sort out the economy bloody quickly.

The most worrying event of the election campaign for me, was seeing a Labour dignitary (can't remember which) explaining why the UK couldn't go the way of Greece by reference to the fact that the UK's debts weren't due for repayment for 14 years ...

So that's okay then, right?

Bonkers to spend so uncontrollably. Essential to sort the economy out.

But the OP has set up a false dichotomy. It's not an either/or situation Get a good chancellor to work on balancing the books. Get a (different) good minister to sort out electoral reform. The two go hand in hand. Don't think the markets would quiver at electoral reform. In fact they might be settled at the prospect of seesaw politics coming to an end in favour of consensus politics.

sophable, yes I think that most people would take the chance if they could. But a lot of people don't not only because they can't afford to but often because they are afraid to - it takes time to gain an understanding of what does and doesn't make the markets move and affect certain prices, and even then it's easy to get it wrong - I'm no way near there yet!

Ultimately it's gambling - it's no different to buying a lottery ticket or putting a bet on a horse, except that with betting on the financial markets there are pointers which make the outcomes slightly more predictable. But even then not always.

[quattro, WHAT HAPPENED LAST NIGHT? will go and bump your thread]

After all, which countries in Europe share our political system? Malta. Er...there is another one...

www.telegraph.co.uk/news/worldnews/europe/greece/7696870/British-taxpayers-ordered-to-bail-out-euro. html is why we need to get the economy sorted - we just can't afford this.

Yes that's the thing Quatt

It's not like they're going to ask the Chancellor to draw up terms for a PR referendum in his lunch hour

If the coming government can't handle two pieces of simultaneous business then we're more screwed than I thought

wannaBe- buying instead of renting a house is perhaps gambling/speculating? There isn't much difference between investing with inline broker and buying shares the old fashion way.

ACCESS to capital is a big part of political argument: The poor pay more for their goods, well established fact but they also get charged more for/have less access to capital and capital instruments....but all that is for another thread.

Back to the point...the economy has to adjust (devalue) anyway so we should get scared by those saying support Tories or else....

[soph - thanks for brilliant suggestion re braising peas - did them with pancetta. Had a disaster with the gratin though ]

[how do you braise peas. I just started boiling mine. Is there any hope for my peas?]

[Lenin- I will not talk up the size of my portfolio ]

[Sophable's suggestion here - oh oh oh quattro, do braised petit pois with smoked bacon....SO good and SO easy (use frozen petit pois, fry finely chopped shallots or onion, fry some pancetta or smoked bacon lardons until crisp and have released their fat and then chuck in the peas and some stock, simmer on low heat for a while...half an hour, an hour? very low heat).

really delicious and very low maintenance and extremely good with chicken!]

That's interesting about inflation TD - I've read in several places that one strategy to deal with the deficit is to inflation our way out of it - is this the same thing? (Hey, I just used 'inflation' as a verb! Go me!)

Quattro/Soph- I shall knock them out next week, thanks. This week it was plain vanilla bolied peas. many thanks

Policy- yes, the lenders will charge more for our Govt bonds (raising mkt int rates) if we go that route but I believe that will be part of the solution.

Lenin- who needs footie when we have politics as a prime sport. What a nice way for Gordon to exit. Normally you get kicked out the day after the election but Gordon gets to squat and cause problems

'if the coming government can't handle two pieces of simultaneous business then we're more screwed than I thought'

Entirely agree, policywonk.

Though I'm starting to wonder today if actually having no government is actually a bad thing. No bossy ministers telling us what to feed our children. No MPs' expenses. No spin doctors...

Lenin - not a Man U supporter then? I'm pretty sure it'll be tears before bedtime here (and that's just dh). Ds can't remember them not being league champions. So possible traumatic afternoon ahead!