Cuts in public sector spending NOW, part2 (08Mar10)

Part 2 of 2: Still arguing over whether to carry on New Labour's plan for UK's bankruptcy, or cut public sector spending (and the borrowing to fund it) now. The international markets have already made up their mind, and is why the UK Pound is getting worth less and less as the prospect of New Labour staying in power increases in the opinion polls. New Labour are deliberately smashing the UK Pound's value to get the UK into the Euro by ANY means necessary.

Recorded from The Daily Politics, 08 March 2010.

Category:

News & Politics

Tags:

• new
• labour
• created
• uk
• recession
• depression
• cut
• public
• sector
• spending
• borrowing
• deficit
• debt
• international
• investors
• smash
• pound

[wrathofgod86668]

This is what happens when you have socialists running the country for 13 years.

[binky4647]

Round and round we go where it stops nobody knows.

[karuspery]

Stop all funding to the useless Non Government organisations and charities.

Clawback all donations to the Charity Common Purpose.

[BloodguardGorak]

lol if they new what they were doing we wouldn't be in this mess in the first place.

[BloodguardGorak]

@anyfekinnamewilldo I totally agree and the comment from another Austrian economist says it all;

There is no means of avoiding a final collapse of a boom brought about by a credit expansion. The alternative is only whether the crisis should come sooner as a result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.

Ludwig Von Mises.

[anyfekinnamewilldo]

Cont...

6) Unsustainable public sector redundancy payouts.

7) A startling lack of understanding of economic history.

8) The fact that all political parties have the same flawed economic policies

9) The political class only interested in protecting the apparatus of state.

10) The desire to continually tinker with the market irrationally blaming laissez faire for the downturn.

I fear this recession is far from over!

[anyfekinnamewilldo]

Interesting clip actually as it shows within a few minutes the many contributory factors responsible for the economic downturn.

1) Inflexible ware rates artificially propping up public sector wages

2) Power of public sector unions

3) The myth that private sector tax

avoidance is responsible for the crisis

4)The desire to endlessly expand government

5) Keynesian economics

[anyfekinnamewilldo]

4:26 this is complete BS. For a thorough debunking of this economic myth visit misesDOTorg/daily/4039.

It is government fiscal and monetary policy which prolongs recessions, they have learnt nothing from history and will lead us to ruin.