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The required response
Increased government spending to support the economy
A cut in taxes for most people
A reduction in interest rates – or holding them near zero in our case
That is what a responsible government acting in the interests of its population would have done to keep the economy going

When inflation is at 10% and counting both monetary and fiscal policy must be wildly stimulative.

It’s possible to see how Weimar, Zimbabwe and Venezuela happened, isn’t it.

4 thoughts on “Macrotubernomics”

  1. This section of the speech is even better

    Our debt is wholly manageable

    I think he’s looking at defaulting on government bonds as an option. ItKs in line with his notion that mass renationalization without compensating investors is Legal.

    The stories about its increasing cost are largely lies – with the cash due on average in 18n years’ time

    I am the way, the truth and the light, whosever believe that in me positively shall not die.

    The claims about inflation are lies – it is bound to fall

    There’s no guarantee of that – and it’s largely due to the interest rate rises he bemoans that it’s being choked out.

    The claims that we are short of labour is down to Brexit and so instantly soluble

    We can simply click our fingers and reverse Brexit? Also he seems unaware that immigration has actually hugely increased under this government from the rest of the world. Indeed there’s almost a racist element to his contention. He doesn’t seem to like non – Europeans?

    The idea that we are overtaxed is because we insist on taxing the wrong people and the wrong things

    The answer is always ‘Moar Tax’

    The idea that we cannot pay our way is absurd
    We cannot go bust

    To all intents and purpose the UK is bankrupt now – Although the government and opposition seem blissfully unaware of this facts

  2. “Increased government spending to support the economy
    A cut in taxes for most people”

    Paging Kwasi Kwarteng…

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