tag:blogger.com,1999:blog-4433144336299288135.post5418436060300818388..comments2024-03-26T13:27:26.499+00:00Comments on Zelo Street: Monty Defends Austerity - BadlyTim Fentonhttp://www.blogger.com/profile/00726447899972084146noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-4433144336299288135.post-85675142454894794732017-08-07T20:57:16.054+01:002017-08-07T20:57:16.054+01:00Odd, that.
"Austerity" didn't stop ...Odd, that.<br /><br />"Austerity" didn't stop vast amounts of dosh going into projects in London. Dosh stolen from everywhere outside the M25.<br /><br />Yes. Very odd.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4433144336299288135.post-75082645417857731772017-08-07T17:19:46.641+01:002017-08-07T17:19:46.641+01:00there is a common misconception in most media outl...there is a common misconception in most media outlets, between "austerity", "budget reduction/consolidation" and "investment/spending"<br /><br />the main problem many government encounter is how to reduce public spending without hurting GDP (and employment) growth.<br /><br />it's not reduced spending that leads to reduced growth per se.<br />it's reduced investment and loss of revenue for disposable incomes that do.<br /><br />some example : <br />- reducing benefits while increasing the minimum wage does not make employment suffer (while keeping same corporate taxation).<br />- not paying for external advisers on the latest IT gizmo or policy rebdranding, while instead spending on hard infrastructures, whether they be energy generation, tramsport, housing or communication signalling.<br />- prefering taxation over borrowing for the ressources needed to government spending<br />- borrowing for investment spending with a clear calculus of the expected financial returns, rather than current stop-gap general spending<br />- borrowing long-term low rates to replace short term high-rates, with the objective of eliminating any debt whose repayment is higher than the inflation/GDP growth<br /><br />...<br /><br />unforttunately so much government spending is spinned as investment when it's nothing more than expenditures spending<br />and far too much budget tightening is done for the ideological reason of cutting the highest bracket of taxation (via "starve the beast" policy), rather than looking at what provide public goods and what is wasteful booty for SpAdsStarbuckhttps://www.blogger.com/profile/11685458973938193127noreply@blogger.comtag:blogger.com,1999:blog-4433144336299288135.post-77440143411418714372017-08-07T12:34:40.311+01:002017-08-07T12:34:40.311+01:00Kevin Rudd in Australia also introduced a hugely s...Kevin Rudd in Australia also introduced a hugely successful Keynesian stimulus package that saw the country slide through the 2007/2008 financially calamities almost unscathed which saved 1000s of retailers, employers and saw massive school building projects and so on.<br />Denounced of course by the local Tories, the Liberal National Party who today we learn are almost bankrupt even they have governed for 5 years while Rudd's Labor Party still has a huge party bank account.<br />It's always the way- the Tories scream they are the best 'economic managers' and history continues to show us otherwise and they have the hide (along with their media minions) to accuse Corbyn & UK Labour of being stuck in the past.Anonymousnoreply@blogger.com