Topic: | Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Safety of Post Office/Bank of Ireland savings | |
Posted by: | Thomas Barry | |
Date/Time: | 19/11/10 15:51:00 |
"My point was that if the analogy was good enough for Osborne when it suited him why not now (particularly when so many Keynesian-oriented economists have consistently pointed to the danger from too severe cutting back)." And a very good point it is. The best and most accurate explanation is 'George Osborne's ideology is the same whatever the weather: cut public spending and cut taxes and cut regulation on private businesses'. It's quite wonderful: 1) Jobless up? - Hey, welfare's spiralling out of control, so let's cut expenditure 2) Jobless down? - Hey, the private sector's picking up, so let's cut expenditure 3) Private sector sluggish? - Hey, cut regulation and taxes and expenditure 4) Private sector overheated and crashed the economy leading to sharp drop in tax take? - Hey, let's cut expenditure You see? There's literally nothing a shyster like George can't turn into a good news story for his economic voodoo given enough spin doctoring to his yapping friends in the papers. I'm beginning to think a large mallet is the only remedy. BTW on saving, one result of the recession was *more* saving, in that people started paying down debt instead of spending, for fear of unemployment. This was generally considered a bad thing. |