Austerity, Friend or Foe?

democracy, democratic rights, European Commission; trade agreements; environmental impact; employment rights; democracy

It strikes me that the only reason for continued austerity is because of Tory ideology rather than because there is a need for such restraint.

The Labour party under Gordon Brown was absolutely correct in stating that in order to climb out of the mess caused by the banking collapse in 2008 was by keeping people in work which would grow tax revenues for the government and would also feed into growth. For all Gordon Brown’s mismanagement, this was a sensible policy. As soon as the coalition government led by the Tories came in, they strangled any notion of keeping people in work, shutting down investment whether by government or banks, businesses closed and, despite massaging of unemployment figures and seasonal peaks and troughs, unemployment remains the greatest tragedy of human waste.

The Tory Government are busy not just killing off any industry in the UK, but making sure that it’s people never bother to look above the gutter.   In short, the Tories are only interested in returning the UK to a feudal system where the masses are easily controlled and too stupid to think for themselves.   The only institutions benefitting from this forced austerity are the banking system and the monarchy who has just been awarded a 9% pay rise on the back of 18% last year, 25% the year before, 30% the year before that.

The monarch does not deserve our money, they do nothing to earn such vast sums of money, their presence adds not one iota to the sum of human life and can only fuel questions not just whether we can afford them, but also their relevance.   These are pertinent questions and the debate should be conducted in full public view.

The banks have and continue to benefit from the enforced austerity. If it is the case that the Western world’s banking system is in danger of collapse, despite austerity, despite quantitative easing and buy-backs, then we need to ask whether it would be better to simply allow the entire banking system to collapse altogether, as would be allowed with any other industry?

I think the only reason why it doesn’t is because so much of our lives are taken up with the banking system, from getting paid for our work, paying our bills, rent and mortgages. However, if such an enforced collapse were to happen and was managed carefully so that in the short term it would be painful but that the ordinary person could be provided for in food, eviction notices could not be enforced, those gamblers, fraudsters and crooks who caused the collapse were convicted and served jail time, there is the real possibility of society coming out of this impasse stronger than before.   Industries could be realigned so that services no longer play such an overly important part of the GDP of a country, but that society is better balanced.

This certainly looks like a sensible proposal and I’m sure I’m not the only one who thinks this way, but I don’t think our politicians have the necessary balls to do this, so the problem will get worse until the inevitable happens, the can will get kicked down the road for a while but the banks will implode and the whole sorry mess will have to be sorted out.


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