The So-Called Recession

[poliphilo]

I was a little surprised at how chipper George Osborne seemed to be about chucking 8 billion in the direction of the Irish banks. I thought there was a squeeze on and we had to save every last penny. 

But then Lord Young explained the situation. What we're suffering is only a "so-called recession" and most people "have never had it so good". Ah, so Cameron's inner circle aren't nearly as worried about the economy as they'd like us to think they are.

They see the recession as a blip; it's manageable- and there's cash down the back of the sofa for the things they really want to do- like helping out their enterprising friends. The crisis talk is to soften up the rest of us for a set of cruel and destructive policies- throwing public servants out of work, dismantling the welfare state, harrassing the weak-  that are a matter of choice, not necessity.

Comments

[ingenious76.livejournal.com]

But we do need to cut back. Public spending under Labour increased to a level that was unstainable. Thats a fact which a lot of people cannot seem to accept. The so-called boom of the Noughties was built on encouraging people to spend money they may not have had, and as a result, created a mountain of debt that no-one seems prepared to accept needs to be re-paid.

[poliphilo.livejournal.com]

I'm not sure I agree. Other countries have taken the line that the way to get out of a recession is to spend your way out- which is what Roosevelt did in the 30s. I believe this government is using the debt mountain as an excuse for cuts which are actually driven by ideology.

[ingenious76.livejournal.com]

But we can't afford to keep on spending. As I wrote previously, the recession we tipped into in 2008 was based on over-spending. Also, Rooselvelt may have increased public spending in the 30s, but it wasn't the New Deal that pulled America out of the Depresion, it was the involvement in the Second World War.

This Government may be cutting in line with ideology. But the Labour Government overspent in accordance with theirs - a return to the bad old days of tax n' spend and overmanning. I'm not sure which is worse. The former puts people out of work. The latter creates false expectations that eventually have to be dashed.

[poliphilo.livejournal.com]

Yes, the Blair and Brown governments were horrible, but I'm a man of the left and I'd always rather be misruled by Labour than by the Tories.

[ingenious76.livejournal.com]

The key word is "misrule", and it was. The Blair era took us into war, overspent, and did a hatchet job on Education. Then he handed the job to Brown, who proceeded to spend even more. They didn't just misrule, they took the country to the brink of economic collapse. This Government have been left in the position of having to make hard choices, which people will not like. But, regrettably, we are where we are.

Oh, and I forgot that Brown and Blair created an ethos of bullying nannyism in the country. Misrule or borderline dictatoriship? Hmmm.

[poliphilo.livejournal.com]

Oh yes, I know all that. I think Blair and Brown and most of their ministers should be awaiting trial at the Hague. They're criminals- but they're our criminals- my criminals- traitors to the cause rather than downright enemies of the people, like the Tories.

[ingenious76.livejournal.com]

Sorry, but taking us into an illegal war, overspending to the point of bankruptcy and also creating a culture of fear and suspicion in Britain makes them enemies of the people also in my book.

It seems to me you're suggesting they betrayed ideology but didn't betray the people. *Shrugs*

[poliphilo.livejournal.com]

Put it this way, I expect more from Labour than I do from the Tories. I expect the Tories to be on the side of the military-industrial complex and the bankers and the
billionaires and their newspapers. I doesn't surprise me when they act on behalf of those interests. But when Labour launches a pre-emptive war or gives Bernie Ecclestone a peerage I feel like its a betrayal. Yes, it's naive of me I know.