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Economic illiteracy and bias with Helia Ebrahami on Channel 4 News

Tom Winnifrith
Wednesday 16 March 2016

I am beginning to think that C4 News is targetted at those crazy folks out there who think that the BBC is a right wing monster controlled by the Tory party. You have to be pretty flaky to hold such a world view but C4 was always out there trying to reach out to minorities. And I guess paranoid Marxist fruitcakes are - across the Nation - a minority though on most liberal arts university campuses they are a dominant majority.

Sometimes C4 News pretends to be impartial. Sometimes it lets its prejudices slip in. And at other times it is just up front and unfair. The fun is in spotting what game it is playing with each report.

In reporting on what today's UK Budget would have in store we got a sneak preview from Business Correspondent Helia Ebrahimi. Being a business correspondent on the BBC or C4 is a tough gig in that you must report on a system that you fundamentally disagree with, you have to be polite to a load of frigging evil capitalists and, worse still, totally innately evil Tories. But Helia is up to the challenge.

And thus she asserted that "many economists" believe that with low oil commodity prices and low interest rates on Government Debt, now is the the time when it should be spending more on infrastructure."

Where to start? Perhaps in pointing out that low commodity prices do not assist the Government, it just means lower PRT revenues so more pressure on State finances. In other words that point is patent nonsense.

Interest on Government debt will this year be between £45 and £50 billion. In other words a bit more than the defence budget. That it is not higher is indeed a celebration. That it is so high and that servicing the debt mountain is such a burden for us, our children and our grandchildren is a real concern.

We are actually in an economy that is growing. Keynes tells us that we should thus be ensuring that we pay down debt in preperation for the bad times. Yet in fact Chancellor Osborne is still running a vast deficit and thus increasing the debt.

But Helia's economists want the Chancellor to increase that deficit to spend on "infrastructure". The last politician to take this line was crazy old Vince Cable, the man who predicted 17 of the last 4 recessions and got his facts wrong pretty much every time he opened his mouth to drone on with a sanctimonious monologue.

Given the size of the deficit would Helia care to say why crazy Vince is correct at last? And perhaps rather than just saying many economists she might saw how many or who?

I suspect there are many economists who think that Helia is talking errant onsense, indeed anyone with a C in GCSE economics can see through the commodities nonsense.

But because C4's Business Editor says that "many economists" think Osborne is wrong, then the lefty fruitcakes waching this nonsense in student residences at deadbeat former polytechnics across the land, get to have their skewed world view confirmed by someone one assumes - incorrectly as it happens - knows what she is talking about. 

It becomes clearer with every report Helia serves up that this is not the case.

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About Tom Winnifrith
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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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