Rachel Reeves' austerity agenda isn't as extreme as George Osborne's in depth, but in a way it's more extreme to keep doing it after Osborne's agenda delivered such stagnation
The definition of insanity is doing the same thing and expecting a different result. This government isn't insane just plain nasty. Punching down on the sick and disabled bloody disgusting.
You can't cut your way to prosperity, but it makes damn sure the poor remember their place and the rich don't have to pay a penny. Class war is the name of the game.
I don’t think it’s that they - Starmer, Reeves et al - haven’t learned or refuse to learn the lessons of the neolib austerity agenda. It was well known for decades before Cameron and Osborne did it that the “savings” or “balancing the books” are a false economy. It’s that they choose to ignore what is common knowledge for those with even a passing grasp of economics in favour of the neoliberal ideology and its demonstrably flawed policies… because Free-Market, Globalised Capitalism is what makes the establishment richer at the expense of everyone else and the planet we live on, and their greed knows no bounds.
Agree. Money moves in a circuit and UK has a structural trade deficit ie a net withdrawal of Stetling from the UK economy. It's a statement of proveable fact that under these conditions, reducing the fiscal deficit decreases the net injection of Sterling into the UK economy with the outcome being increasing private sector and household debt and poor growth. Indeed, the compound interest effect on private sector debt creates the conditions for debt deflation. The twin deficit problem is well known and I doubt Reeves is unaware of it. That she and Starmer persist with their deflationary agenda clearly demonstrates the ease they feel at the growing transfer of income and wealth to the already affluent from the rest of us.
This is a well written analysis of where the nation is and I regret that Cameron then May then Johnson! got reelected because the electorate simply didn't trust Corbyn twice and could not see the price that they would pay for ignoring public investment over tax cuts largely aimed at the wealthiest.The article doesn't propose what should be done differently than what Reeves is doing (or more accurately replicating) but yes robbing the poorest is not a solution. Asking the top 50% of asset owners and income earners would be a solution with a special levy upon tax exiles assets regardless of their trust status.Tice can be the first 'victim' as he is so clearly a patriot who wants only the best for his country right?
Who says they are interested in general prosperity maybe they only care about the elites? Maybe it’s time people stopped having a sentimental view of the Labour Party
It's performative cruelty. It's not meant to bring prosperity in the general sense. It's meant to appease the right wing press and the millions who received their political education from Rupert Murdoch.
Austerity is in no way whatsoever the answer to fixing a countries finances. Every single finance expert will say it also. Austerity is a means of inflicting more financial hardship upon a population. Does anyone think for a single second austerity effects the wealthy? We have a financial system that benefits 0.001% of the population. Yet our media is always labelling every other country with a different system in one negative way or another. When will people realise, politicians & their media mouthpieces are not on our side?
The UK has a fiat sovereign currency which it spends into existence. Taxes do not fund government spending, instead Taxation cancels money, it destroys it. Taxes are paid to the HMRC account at Barclays Bank, who each day before close of business transfer all tax receipts to the Consolidated Fund at the Bank of England, the government's account there. A corresponding debit is then raised, bringing the balance to £0. So, 'taxpayers' money' does not exist.
The idea that taxes fund revenue or capital expenditure, is a myth that's peddled by neoliberals to maintain the status quo. Taxes are for different purposes, to address inflation, encourage consumers to spend in certain ways, tackle inequality, generate a value for the currency and to create space for public spending priorities when the economy is beginning to overheat when the private sector could be competing with the govt for real resources.
In the words of John Maynard Keynes “Anything We Can Do, We Can Afford”
SIR Keir Starmer isn't labour. He NEVER has been. He has ALWAYS been a right-wing, Tory, toff-wannabe.
Starmer embedded himself in the Labour Party and then hijacked its leadership, through thuggery, backstabbing, false promises, and an aggressive, Zionist-led, defamation-campaign against Corbyn.
The whole of the Labour Party was sabotaged by that remorseless Zionist whore. Starmer always INTENDED the harm that he is now inflicting on the British public.
It was ALWAYS Starmer's intent, to rob the working class of its representation, and remove any ability for the British public to use their vote, to move their government to the LEFT.
When Corbyn won leadership of the Labour Party, it was because his vision & integrity were genuinely admired. Corbyn was Labour's most responsible, principled & public-spirited leader. BY FAR.
When Corbyn was taken out, it was by an organized & persistent slander-campaign, which had help, on the inside, from Starmer. Starmer was never anything but a malicious saboteur. It was always Starmer's intent, to silence the voice of the working class, and remove representation from the working class.
Never forget that Starmer didn't "win"; he was just THERE when the Conservative Party committed suicide.
Starmer's Labour Party took Britain with FEWER votes than Corbyn's Labour Party ever got.
Starmer isn’t Labour, in fact, none of them are Labour. They’re just Tories. We just replaced Tories with more Tories. So anyone who expects anything good to happen about anything, and I know people who still do, is living in cloud cuckoo land, and this disgusting lot hate the working class.
So, any progress on a new left party over there? Nor much here (US), sad to say; folks are still too stuck on "personality politics" to gather themselves into a real, weight-throwing power. Or they're too bugged-out by the opening gambits of fascism to coalesce into a counterforce.
The definition of insanity is doing the same thing and expecting a different result. This government isn't insane just plain nasty. Punching down on the sick and disabled bloody disgusting.
While I agree with you, it's not really a definition of insanity.
You can't cut your way to prosperity, but it makes damn sure the poor remember their place and the rich don't have to pay a penny. Class war is the name of the game.
I don’t think it’s that they - Starmer, Reeves et al - haven’t learned or refuse to learn the lessons of the neolib austerity agenda. It was well known for decades before Cameron and Osborne did it that the “savings” or “balancing the books” are a false economy. It’s that they choose to ignore what is common knowledge for those with even a passing grasp of economics in favour of the neoliberal ideology and its demonstrably flawed policies… because Free-Market, Globalised Capitalism is what makes the establishment richer at the expense of everyone else and the planet we live on, and their greed knows no bounds.
Agree. Money moves in a circuit and UK has a structural trade deficit ie a net withdrawal of Stetling from the UK economy. It's a statement of proveable fact that under these conditions, reducing the fiscal deficit decreases the net injection of Sterling into the UK economy with the outcome being increasing private sector and household debt and poor growth. Indeed, the compound interest effect on private sector debt creates the conditions for debt deflation. The twin deficit problem is well known and I doubt Reeves is unaware of it. That she and Starmer persist with their deflationary agenda clearly demonstrates the ease they feel at the growing transfer of income and wealth to the already affluent from the rest of us.
Yeah, exactly. They know, just like all the others- particularly since Thatcher but before also - that pursue the same agenda.
This is a well written analysis of where the nation is and I regret that Cameron then May then Johnson! got reelected because the electorate simply didn't trust Corbyn twice and could not see the price that they would pay for ignoring public investment over tax cuts largely aimed at the wealthiest.The article doesn't propose what should be done differently than what Reeves is doing (or more accurately replicating) but yes robbing the poorest is not a solution. Asking the top 50% of asset owners and income earners would be a solution with a special levy upon tax exiles assets regardless of their trust status.Tice can be the first 'victim' as he is so clearly a patriot who wants only the best for his country right?
Who says they are interested in general prosperity maybe they only care about the elites? Maybe it’s time people stopped having a sentimental view of the Labour Party
It's performative cruelty. It's not meant to bring prosperity in the general sense. It's meant to appease the right wing press and the millions who received their political education from Rupert Murdoch.
The beatings will continue until morale improves.
My letter to Viceroy Murray about LINO's cruel welfare cuts: https://dearscotland.substack.com/p/letter-to-viceroy-murray-about-linos
Austerity is in no way whatsoever the answer to fixing a countries finances. Every single finance expert will say it also. Austerity is a means of inflicting more financial hardship upon a population. Does anyone think for a single second austerity effects the wealthy? We have a financial system that benefits 0.001% of the population. Yet our media is always labelling every other country with a different system in one negative way or another. When will people realise, politicians & their media mouthpieces are not on our side?
The UK has a fiat sovereign currency which it spends into existence. Taxes do not fund government spending, instead Taxation cancels money, it destroys it. Taxes are paid to the HMRC account at Barclays Bank, who each day before close of business transfer all tax receipts to the Consolidated Fund at the Bank of England, the government's account there. A corresponding debit is then raised, bringing the balance to £0. So, 'taxpayers' money' does not exist.
The idea that taxes fund revenue or capital expenditure, is a myth that's peddled by neoliberals to maintain the status quo. Taxes are for different purposes, to address inflation, encourage consumers to spend in certain ways, tackle inequality, generate a value for the currency and to create space for public spending priorities when the economy is beginning to overheat when the private sector could be competing with the govt for real resources.
In the words of John Maynard Keynes “Anything We Can Do, We Can Afford”
Power of the Pound
https://youtu.be/IHxloLkMXeU
Read Stephanie Kelton's book, The Deficit Myth and check out Richard Murphy's article and video here: https://www.taxresearch.org.uk/Blog/2024/08/01/there-is-no-such-thing-as-taxpayers-money-2/
This isn’t an economic management strategy, it’s a personal enrichment strategy. They’ve all been bribed.
SIR Keir Starmer isn't labour. He NEVER has been. He has ALWAYS been a right-wing, Tory, toff-wannabe.
Starmer embedded himself in the Labour Party and then hijacked its leadership, through thuggery, backstabbing, false promises, and an aggressive, Zionist-led, defamation-campaign against Corbyn.
The whole of the Labour Party was sabotaged by that remorseless Zionist whore. Starmer always INTENDED the harm that he is now inflicting on the British public.
It was ALWAYS Starmer's intent, to rob the working class of its representation, and remove any ability for the British public to use their vote, to move their government to the LEFT.
When Corbyn won leadership of the Labour Party, it was because his vision & integrity were genuinely admired. Corbyn was Labour's most responsible, principled & public-spirited leader. BY FAR.
When Corbyn was taken out, it was by an organized & persistent slander-campaign, which had help, on the inside, from Starmer. Starmer was never anything but a malicious saboteur. It was always Starmer's intent, to silence the voice of the working class, and remove representation from the working class.
Never forget that Starmer didn't "win"; he was just THERE when the Conservative Party committed suicide.
Starmer's Labour Party took Britain with FEWER votes than Corbyn's Labour Party ever got.
Starmer isn’t Labour, in fact, none of them are Labour. They’re just Tories. We just replaced Tories with more Tories. So anyone who expects anything good to happen about anything, and I know people who still do, is living in cloud cuckoo land, and this disgusting lot hate the working class.
So, any progress on a new left party over there? Nor much here (US), sad to say; folks are still too stuck on "personality politics" to gather themselves into a real, weight-throwing power. Or they're too bugged-out by the opening gambits of fascism to coalesce into a counterforce.