So no case for austerity then?
This entire sidetrack was based on you demanding people show a case that austerity doesn't work but petulantly disallowing the opinions of people such as Krugman and Blyth and institutions such as the IMF.
Then came this gem
Quote:
I'd suggest you defer your writing to someone else too.
My opinion is my opinion - i'm not taking it from a 3rd party. I got involved in this due to you stating your own opinions (i.e. that the cause is people have no incentive to work) and not providing back up for them, which you still haven't.
My line of thought is:
Structural reform was/is necessary to control our borrowing cost
Regardless of how low yields are we can't run a deficit forever, and we shouldn't have been running one pre financial crisis.
Yes, yields might be low and we can borrow cheaply now, but the risk of growth not materialising from spending is a much bigger risk than some lost growth due to austerity.
If that happens and we then do become a riskier bet for lending too, we're in real trouble.
There's structural reasons why yields are as low as they are, it's not necessarily and indication that our economy is a rock solid bet.
I am not claiming to be an economist though - and I'd be happy to have any fault pointed out in my logic by someone who is (rather than someone who derives their views from one).
with a wonderful disclaimer that you've used to completely avoid justifying your frankly ridiculous case.
I used some graphs rather badly but I'm not an economist and haven't been far off in the other posts I've made.
Our debt to GDP ratio should reduce as a consequence of sound financial policy rather than at some arbitrary point.
Ending austerity (which you can't make any case for - even by linking to economists,videos,books or leaflets handed out by randoms in the street) will aid this.
Maybe now you could address some of the dozens of posts pulling you up on your wildly incorrect reasoning or even just the ones levelled at your "case for austerity" post quoted.
UK austerity is an excuse for ideologically targeted cuts and the biggest transfer of wealth from the many to the few in modern times.