All this spend! spend! spend!
Please, could all those now arguing for such stimulus at least own up to the fact that they missed the other part of Keyesianism? That Brown vastly overspent at the top of the boom? That if you\’re going to argue for fiscal stimulus in a slump you also need to argue for fiscal contraction in a boom?
So the idea isn’t that you make prudent investments in boom times?
That article seemed to me to contain more bullshit per word than any I have read for a very long time . I am far to old to do this but I have scrawled things like “You wot ? “ and “Cunt supreme ! “ all down the margins . ( The C word I know …sorry ). For example ..
This time last year, as Lehman Brothers tipped the global banking system towards collapse, the Tories were floundering, irrelevant to the state intervention needed to prevent financial meltdown and hobbled by their support for the deregulation that unleashed the crisis. Cameron was reduced to bleating about “knee-jerk attacks on free markets”, as he and his shadow chancellor made the wrong call on everything from the necessity of a fiscal boost to the takeover of the banks.
Now I do believe it was Gordon Brown who presided over the regulatory frame work of the UK Banks ,Brown who repeatedly told us that it was nasty Americans and their sub prime doo dah who dunnit .
State intervention in this country has consisted of blinking like a Rabbit in the headlights whilst ordinary stabilizers got renamed Keynesian Fiscal Policy as the “Golden 40% Rule” was smashed like a sandcastle in a tsunami and we started having to print money in order to buy it and pretend we were borrowing form someone.
( Breathe ….ok carry on …)
Cameron did not say the Government would not help, he said we were very constrained because of the position we were in( Unlike the lucky Australians who had kept shop ) .The truth as we know is that Brown is sad not mad and also knew this very well .Cuts have in fact been going on for a long time on the ground and far more are planned .
They are still peddling that crap about the National debt of ther countries in the knowledge that it is quite meaningless . Government Debts and you ability to finance them depends on your ability to raise the cash from people . Governments do not have any moey so this is political question. To stay where we are we are looking at rises of 25% orcuts of 20% ( says lefty commentator Duncan who is good at sums )Does anyone think this level of correction or beyond is not a tad politically fraught ?
I am so sick of this fake “International comparison “ , we do not start at the same point , we are not the same country and all this bollocks was spouted word for fucking word the last time the IMF came a calling ..
( Breathe ….onwards ..)
Cameron and Osborne have executed a startling sleight of hand, persuading a large section of the public that the real crisis facing the country isn’t the havoc wreaked on jobs and living standards by the breakdown of the free-market model — but the increase in government debt incurred to pay for it.
Is there anyone at all , I mean anyone, who thinks that the Planned market model is the one the 20th century points to as the better alternative .What a cunt what an utter total and compete Cunt
Love that C word and sometimes you need it
Thanks for letting me share ,