FTSE 100
Dow Jones

Thursday, 19 March 2015

If this is austerity ...

... God help us.

The UK National Debt is still rising at £5,170 per second.  That is the amount the government borrows because it is spending more than it raises in taxes.  To put that in perspective, the French borrow 2,665 euros per second, while the Gemran government manages to get by with a mere 1,556 euros on the never never. Allowing for exchange rates, our government is 4 times as profligate as the German government, who serve a larger population.

The simple fact is that the Conservative government has failed to reduce the deficit as they promised, but the idea that we are on some austerity drive is a pure fiction, mostly got up by those with a vested interest in the splurging of cash at the expense of your grandchildren, public sector workers, their unions and the Labour Party.

The truth is that we are still in the midst of the largest artificial stimulus in UK economic history, which is why employment levels are so high. Long may that last, but don't believe a word of the doom merchants warning against spending cuts. Can't happen soon enough, for all our sakes.

No comments: