There's so much to criticise about Corbyn that I'm not going to release it all in one go. Better to do it as a dripfeed. So, tonight, we'll look at a brief introduction of Corbyn, and start the "Corbynomics" breakdown.
Fed up with old, white, straight men, the Left have been crying out for a new type of British politics. Their saviour is a 66-year-old white heterosexual man. This is exactly the... wait, what?
Yeah, I'm confused too. Jeremy Corbyn has so many supporters for one simple reason: the brainwashing of the youth by the National Union of Students. This is a far-left organisation, and their views appear to brainwash a large amount of people on my Facebook feed. Namely, they refuse to condemn ISIL but simultaneously condemn Israel. As well as that, they have given support to ISIL-support group CAGE. Quite rightly, Cameron has named and shamed them for this. But why have the NUS done this? Oh, hang on - Corbyn's done this too!! He has said that we shouldn't make "value judgements" about Britons going to join ISIL - and he has openly admitted to meeting Britons who are ISIL sympathisers. No wonder the NUS won't condemn a brutal terrorist regime who rape women for sport and throw gays off buildings.
What is worrying, however, is that the National Union of Students' brainwashing powers may extend to people forgetting about the Labour government of 1974-1979, and therefore we may even end up with Prime Minister Corbyn. Of course, no upper class champagne for him. No, no, no. His celebration would consist of a glass of grape juice and some fizz, saying that it's "The People's Champagne". Now, "Corbynomics" is very, very similar to Callaghan-ism.
And seeing as the NUS aren't telling you, I will remind you what happened the last time Britain had a socialist government.
THE LAST SOCIALIST GOVERNMENT NEARLY DOUBLED UNEMPLOYMENT.
Between 1974 and 1979, the government hiked up tax rates in order to fund an unemployment decreasing drive. But every economist knows you simply cannot throw money at problems like this. What ended up happening was the opposite. It's also worth pointing out that every Labour government since the war has increased unemployment.
THE LAST SOCIALIST GOVERNMENT SPENT MORE ON DEBT INTEREST THAN ON THE ENTIRE NHS.
This cheap conjuring trick, Mr Corbyn, does not work either. In the 1970s, Labour put Britain into debt by borrowing - which is what happens when you're in a budget deficit. The Brown government put the deficit to such a level previously unseen. At the 2010 general election, it was bigger than Greece's budget deficit. Now, Jeremy Corbyn - and I cannot believe this is actually true - that Gordon Brown's Labour government did not spend enough money. At the Nottingham hustings on 28 June 2015, he said - and I quote - that "we actually [...] spent too little". Oh wow. So that would mean more borrowing. And in the 1970s, the Labour government borrowed so much that it ended up spending more on debt interest than it was spending on the entire National Health Service. Every Labour government there has ever been has increased our overseas debt.
THE LAST SOCIALIST GOVERNMENT ALSO TRIED QUANTITATIVE EASING - AND IT CAUSED THE HIGHEST INFLATION EVER.
One of Corbyn's key policies is "people's quantitative easing". In other words, he's run out of people to tax and countries to borrow from, so he'll produce the money out of thin air! No government internationally has made non-necessary quantitative easing work. It is a last resort - and nothing more. Printing money to fund otherwise unaffordable policies has had the same effect wherever you look - from Argentina to Zimbabwe. For those of you who don't study Economics, if you drastically increase the amount of money in the system, you dramatically decrease its value. So you need more money to buy the same goods. In the 1970s, the real value of £1 was cut by 50% in just four years. That meant that things were twice as expensive as they were before. Save for one of them, every Labour government ever has increased inflation.
In Part II, we'll finish off Corbynomics, and look at his defence policy in a bigger detail.
http://www.publications.parliament.uk/pa/cm201415/cmhansrd/cm141215/debtext/141215-0004.htm - Commons Hansard, 15-Dec-14
Office For National Statistics/The Guardian