Do you want to service your government’s debts forever?
At last the Torygraph comes out with an article that tries to make the Zombie Economy seem like a good thing.
The idea is to make slaves out of every working person in the UK, by ensuring that their taxes do not pay for services, but instead service the ever-mounting debts racked up by right-wing governments such as we have at the moment.
IMF economists cited research by Moody’s Analytics that suggested countries such as the UK, US and Canada could afford to live “forever” with relatively high debt shares compared with their pre-crisis averages.
… claims the Torygraph‘s Szu Ping Chan.
We can conclude that the so-called ‘developing’ nations were offered the same language by the IMF when it imposed ‘Structural Adjustment Programmes’ on them. These SAPs perform several functions as follows:
- They enforce the sale of nationalised industries and resources (mostly to foreign-owned investors and governments.
- They remove capital controls on money flowing into and out of the country.
- They dictate the level of public spending.
- They prioritise debt repayments and corporate welfare over infrastructure development and personal welfare (the good of a company becomes more important than the good of the people).
- And they demand wage suppression and the restriction of labour unions.
As you can see, much of this is already taking place in the UK.
It is a way to force neoliberal economics onto a country without having to worry about getting the people to vote for it (even though, bizarrely, the UK did vote for it last month).
Kerry-Anne Mendoza’s extremely useful book Austerity: The Demolition of the Welfare State and the Rise of the Zombie Economy states: “Structural Adjustment Programmes are now being rolled out across Europe, disguised as ‘Austerity Programmes’ – to reorientate European economies toward servicing the debt economy. Central banks are lending to stabilise national economies that have been broken by the cost of bailing out other banks. The central banks make these funds contingent upon the national government imposing an Austerity programme.”
And you know what the worst of it is?
The whole point of the ‘Austerity programme’ is that you can never pay your way out of it.
Look at the amount of debt that George Osborne has racked up in just five years.
Source: Britain can afford to live with high debt ‘forever’, says IMF – Telegraph
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A government should be there to serve its people not vice-versa! the only way to combat the greed and unfairness of this government is by unification and action.
We really need to start challenging these destructive ideas by looking at alternatives. Modern Monetary Theory might be just the place to start the conversation. If you’ve got an hour to spare Dr Stephanie Kelton, just one of a number of serious alternative economists, (Bill Mitchell another and Warren Mosler) gave this presentation last year. It is well worth a watch and really we ought to start this conversation sooner rather than later. There is an alternative. https://www.youtube.com/watch?v=d57M6ATPZIE
maybe the UK did vote for it, but maybe it was Tricked at least the majority of it.
i agree Maria. not sure the UK DID vote for it. lost votes when van went missing..how many? i am beginning to understand now how people in dictatorship and war torn countries have lost all hope and risked their lives and those of their families to escape oppression and death in rotten boats etc to flee to far away countries like ours.some still to die doing this, even though (i assume) knowing that some countries are scuppering those boats n killing so many of these desperate people..(or do they know this.?)
Thing is everywhere on Earth seems to be becoming oppressed in one form or another. They are fleeing now, but the way things are going they need not bother, when everywhere is just as bad as in Syria
If we owe foreign Corporations a fortune they can order us about.
Osborne is deliberately racking up the debt to make this happen.
It’s about the Corporate hijack of all Europe. Making sure Global Corporations are in control, not Democratically elected Govts. If the Corp is in control they can wreck pretty much everything to make a profit, and keep their Shareholders happy in doing so, regardless of who actually dies on the ground.
It’s only possible when a Party is willing to lie and take bribes to do it. The Torys are our ‘bad eggs’.
It’s an attempt at a return to Feudalism, and this time the ‘evil Barons’ are not Unions…
It’s not my government and never was. No one should forget the treachery of the labour government when they moved the goal posts in the 1979 vote with the 40% rule. They cannot be trusted. Also it was the labour government in the 70’s who froze the wages of the workers. Not the sort of thing you would expect from a so called working man’s party. They labour party candidates are as bad as the lib Dems, all that matters to them is power, not representing the electorate.
The electorate have sent a strong message at the general election but it seems they are not listening.
Mm. That 40 per cent rule was initiated by an MP from Scotland, of course.
And we know the result – treachery by the SNP put Thatcher’s Tories in power and they set about their plan to destabilise the working people of the UK; a plan that is still running today.
I find it extremely strange that you are trying to use this article to attack Labour. Are you not aware that we have a Conservative government at the moment?
What I cannot quite understand is why a Party committed to rolling back the state has not yet privatised the armed forces.
The problem is how can we, the ordinary people reverse the corruption which is all around us, especially amongst elected officials, bankers etc.
The last election was a good start though.
We use our intelligence and get rid of candidates that aren’t good enough.
Yes and if the labour party kept their promises and were effective in opposition I would have not decided to post the comments. Problem is they seem to be lost. Not a good thing for an opposition party.
They did a perfectly good job during the last Parliament – it’s just that it wasn’t publicised in your favourite papers or on the TV.
Now, however, I would agree that Labour isn’t doing anybody much good.