World Cup Debacle - Win Win Win

Is this what we pay our taxes for?Let's agree one point straight away - bringing the 2018 World Cup to England would cost taxpayers a packet. How much? Frankly we have no idea. Just like with 2012 Olympics, nobody seems to have worked out anything as mundane as precise costings. All we can glean is:"The cost of staging the tournament between now and 2018 is being put at just under £1 billion. The Government has already signed guarantees worth £300 million while the 12 host cities have guaranteed funding of £400 million. The bid itself...

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Facing Up To The Doomsday Machine

So what have we learned from today's autumn fiscal report from the Office for Budget Responsibility?First, the OBR under Chote still thinks George is on track to deliver what he promised in June:"Our best judgement is that the Government has a better than 50 per cent chance of meeting its mandate for a cyclically-adjusted current budget balance in 2015–16 and of achieving its supplementary target of seeing public sector net debt fall between...

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All A Question Of Breeding

Not everyone can have the Major's breedingNo sooner had the Tylers returned from the frozen wastes of Swindon, the Major came steaming round. He simply cannot believe the way Lord Flight was slapped down over his "perfectly sensible remarks re breeding". "I mean everyone knows the socialists have landed us with a huge problem. Everyone knows it's insane to reward feckless teenage girls for having kids they can't afford to support, and won't...

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The Chattering Teeth Classes

At age seven Tyler was scarred for life by his primary school teacher's tale of her great grandad being frozen to death on a stagecoach crossing Salisbury Plain. Now that was real weather.And as it happens Mr and Mrs T will be spending tonight in Swindon. That is, if they make it through the weathergirl's promised whiteout hell.Luckily the weathergirl's right hand girl in the Met Office global warming department has just...

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Very Unhappy

You're no happier than him - want to swap?So WTF is Dave making us spend £2m measuring happiness? To be honest I can't face blogging it. The whole business of so-called "happiness economics" makes me want to leave the tent and wander off alone into the blizzard. We've blogged the dismal "science" of happiness several times (eg here and here). In brief, it is based on the ludicrous idea that happiness can be measured, and that you can compare...

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Just How Scared Should We Be?

Sorry kittyCould it happen here? When the markets have finished their sport with Ireland, Portugal, Spain, etc, will they turn on us? Let's compare our situation with Ireland's.Both of us have governments that are currently borrowing far too much. Theirs is a bit worse than ours, but setting aside this year's extra binge to bail-out their banks (equivalent to an eye-watering 20% of GDP), they're not that much worse. According to the OECD, even before...

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Straightening Out Our Straitened Times

Thanks to all those who spotted Tyler's deliberate (ahem) spelling errors in yesterday's post on the Royal Wedding.The truth is that Tyler has never been much cop at spelling. His A Level history master was once driven to warn that T's poor spelling "betrayed a lack of scholarship". Even worse, Tyler has latterly slipped into the slovenly and entirely unacceptable habit of checking such matters on the internet rather than the OED.So yesterday,...

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BOM Royal Wedding Edition

The cake decorations won't cost muchOK, we've held off for a few days, but what is it going to cost? And more to the point, who's going to pay? By rights, it should be the bride's parents. We all know that. Plus of course, Kate's parents could save a few bob by using party products from the family company. Maybe they already have - as Mrs T points out, the plastic ring in the pirate party bag looks awfully familiar, and it's currently...

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Dermot, Dermot, Helmut, and Helmut

WARNING: CONTAINS GRATUITOUS AND JUVENILE STEREOTYPING OF OUR EUROPEAN PARTNERSThe prospective disintegration of the Eurozone highlights all the old problems with single currency areas. For years the Euro's one-size-fits-all monetary policy set interest rates far too low for countries like Ireland and Spain, inflating monstrous property bubbles that have now exploded with such disastrous consequences. And throughout the periphery, cheap credit...

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Prompted Response Prompts Lies.

When it comes to customer satisfaction evaluation, I've written often of my distrust of prompted recall and my preference for the net promoter score. But I'd never expected to encounter them simultaneously.Earlier this week I had a ten minute conversation with John Maeda as Part of his Fortune Cookie performance. Before I left the gallery, I was asked if I had heard of the net promoter score and, when I answered yes, was asked to rate my experienceYou'll be surprised to read that I tend to grade low, so while I had thoroughly enjoyed the conversation...

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Is Default Now The Only Real Option?

Seemed like a lovely idea at the time... but who was going to pay?As we've blogged many times, our real National Debt is far bigger than the government officially acknowledges. When we calculated the real debt for the TPA this year, we estimated the true overall total at around £8 trillion, nine times the official total, and over £300,000 for every single household in Britain. Here's the picture to remind us:Our number picked up a fair amount...

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Whose Debts Will We Take Over Next?

PIIGS stuffingIt sounds like George has buckled and that we're now in for £7bn of the Irish bail-out:“Ireland is our closest neighbour. And it's in Britain's national interest that the Irish economy is successful and we have a stable banking system. Britain stands ready to support Ireland.” Did he have a choice?In the circs, probably not.Take a look at the handy chart above. It's taken from last week's IMF report on the UK economy, and it shows UK...

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Words Have No Meaning.

One of the great false assumptions that marketers make is that once you have someone's attention, then you've got them for good. Well I hope most marketers don't think that way, but I can't think of another explanation for this billboard ad I saw at a station today. Just look at all those words. It starts with a few superfluous humanising sentences about how they used to be bad at explaining things but they're trying much harder now and then goes...

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Ver Are You All Coming From?

From Smurfland ver ve belong.Spot the difference between these two entertainers from Belgium:Many years ago, Mrs T took the junior Tylers and friends for a birthday treat to see the Smurfs Show. The show was bad. Very bad. In fact, it was so bad the theatre gave a full refund to the entire audience. The entire audience of about 30, that is. The Herman van Rompuy Show is a very similar offering - amateurish, Belgian, and incomprehensible. The only difference is that there are no refunds.There is a well rehearsed theory that the EU...

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The Real Question - Who Pays?

A seriously bum rapHere's what's supposed to happen: you borrow some money, and then you repay it. And the emphasis is on the word "you". Now, what's so hard about that? The practice has been around for centuries, and nobody can honestly claim ignorance of the rules.Yet somehow, when borrowers decide they can't make their repayments, it's rarely seen as their fault. Instead, the blame is landed on the lender, either for making it too...

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Spending Your Money

The short versionWe assume everyone watched Martin Durkin's spirited assault on Big Government last week (clip above and you can watch again here). But discussing it with various people since, Tyler has been struck by how few actually realised that government is now spending more of our money than it allows us to spend ourselves*. Say it again - government is now spending more of our money than it allows us to spend ourselves. According...

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Inflation Squeeze

Are your pips squeaking yet?Much squawking over British Gas putting up its prices by 7% - surely they're profiteering at our expense. As so often, it depends which hand you use to look at it. On the one hand, wholesale gas prices have risen by 25% since the spring, so British Gas is being perfectly reasonable in passing it on. But on the other hand, the previous fall in wholesale prices was not passed on so it's a bit rich to pass on this latest...

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