You know what this means…. print, baby print. #gotgold?

A cut of government spending results in, not, as previously thought, an equivalent loss in economic output, but triple that. But this was not an error of scientific judgment. It was an error of ideology, policy and presentation. The Coalition was caught in a pincer movement. The rhetoric of doom and gloom was essential to defeating any opposition to a programme of ideologically driven cuts – and making everyone who argued against it look like a debt denier. Its unfortunate, but completely foreseeable side-effect however, was to scare the private sector stiff. The slack that was being created at a phenomenal rate, was not being picked up by private enterprise. Osborne’s peculiar brand of neoliberal auto-erotic asphyxiation has limits. The safe word for stopping it is “reshuffle”.

11 comments on “You know what this means…. print, baby print. #gotgold?
  1. Andy B says:

    Confirms what most folks said: austerity will kill your economy. I guess there is more self-examination when the IMF’s victoms are the economic north rather than the “darky south.”

  2. snoop diddy says:

    yes, the belief that the opposite of austerity is printing – a complete false dichotomy which the likes of Krugman pushes.
    We need people like Bill Black disassembling fraud and targeted debt jubilees where debt was incurred from that fraud and also debt jubilees/reductions for students and the poor on high interest rates in a time of low CB interest rates. Not to mention Glass Steagall type regulation, less military spending worldwide, not continuing arms races among allies propping up each others arms industries.

    Only thing to do is keep stacking and… in the bitcoin thread article it was interesting to note that even gold and silver were suffering hyperinflation compared to bitcoins 4 year gains.

  3. snoop diddy says:

    And call me crazy, but applying some form of human rights to labour ffs, might just be a revolutionary act these days.
    About the only thing that has deflated in price in the last 30 years is where human rights in labour have been thrown out the window.

  4. Hondo Stalwart says:

    So when are interest rates going to rise????? That’s what really matters here. We will really start to have fun times.

  5. marcio says:

    Got gold? A sense of humor, isn’t it?

    Parallel I’d say that every psychopath, no matter how psycho he or she may be, they always have a kind of a 19.47 degree sense of humor. As a mortal peasant my preferred way to exercise my sense of humor relatively to the psychopath class is to pretend to walk outside their trap for a while, come back to their trap – oops, ooops – and finish the spite by walking a little bit on top of the fence, ooops, oops! Like someone pretending to give a biscuit to a biscuit-obsessed dog while making a funny noise to irritate the poor mammal.


  6. jischinger says:

    I can’t help, but wonder if this economic crisis is just one big giant experiment to see how low a supposed first world civilized nation will sink

    with all our education, smarts and technology none of this should have ever happen.

    is it our anti-war passivity?

    the US didn’t want to go to war in Europe back in the 30s and look how that turned out. Are we still as stupid?

    did the Russians have the right idea when they 86ed the Royal Family? they must have really suffered to get to that point, and if there’s any comparison we got a long way to go before we start stringing up the elite – or do we?

    they say people who want to make it in the world will do so despite any adversity

    I wonder…

  7. KingOfTheNorthernHemisphere says:

    Everybody, scope these two clips out.
    Watch to the end.

  8. ronron says:

    good morning fiatnam. do they print on sunday?

  9. ronron says:

    snowing here, so no rocks to be found.

  10. Alf says:

    Au contraire…Cameron/Osborne austerity plan has worked magnificently
    well. Austerity has maintained the elites privilege and enhanced their wealth
    by 20%, and that’s before the country’s public sector ‘sale of the century’ of
    services. Don’t make the mistake that these two actually care about the
    other 99.9%.

  11. Alf says:

    As I said, the “sale of the century” has already started…

    More than 100 private firms will be paid by the NHS to treat patients as a result of the coalition’s first major expansion of the private sector’s role in the health service.
    But the scale of the private sector’s new incursion into the NHS has led senior doctors to voice fears that the health service is being “atomised” and that it will force existing NHS services to close. Private companies, some of which already earn up to £200m a year each from NHS-funded work, say AQP is a major opportunity to increase their role in the health service.

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