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Originally Posted by O.A.F.K.1.1
LOL No. Its at odds with a few lefty Keynesian, but Austerity is the consensus view of the economic community. Which is why all parties fully support it even though ideologically it goes against the standard credo of the Labour and Liberal parties. Again I repeat, all parties support it, this penny does not seem to be dropping for you
I suppose political parties have never been wrong. Unfortunately, the French have a party opposing austerity. THANK CHRIST NOW I'VE PROVEN YOUR POINT WRONG. Or so your logic would hold...
Austerity is represented in the media, and by the Tories as a talking point, which has to be embraced. If any other parties so "we don't need austerity" its easy to ignore the rest of what they say and jump on that soundbite.
Those Keynesian's also include French economists, and many schools within political economy. Austerity kerplunked Japan for the last 20 years. There are other pieces of evidence like this.
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The rest of your post shows the same inability to comprehend how big a deficit of 24 Billion a month is, that is 288 Billion a year of fresh debt. Just cutting some stupid spending and raising taxes will not touch a deficit that big, real cuts have to be made. Obviously your economic master stroke it to borrow even moah money to spend on stimulus that will only lend very temporary relief and put us in an even worse fiscal situation and train wreck the economy as we lose our AAA rating.
Why are you in love with the AAA rating? America is in the same situation as us despite losing it. Though it's impact is real, you seem to place alot more effect on it than you should.
Borrow more money, nationalise oil/rail, and stimulate demand by giving confidence to savers and spenders to invest. This is done with attitudes. preaching austerity, preaches the individual to austerity, which decreaces spending and investment, which stalls the economy.
Raising taxes can generate alot of income.
Cutting nuke's, and the military, can provide us a whole bunch of money and provide as much revenue as austerity ever could.
As food for thought, Argentina defaulted when it was in a god awful situation, and they aren't in a terrible situation now, despite the same people who preach austerity saying they would.
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People seem unable to understand the concept of short term pain for long term gain,its always must have growth NOOOW, regardless of the long term consequences.
Short term pain like the Japanese?
Long term gain by creating a mindset of austerity?
How about short term pain through raising taxes? Making radical changes to tax systems?