Jan 31

Today I’ll stick to their Economics. This is very simple but is the policy of almost every Western country and is the kind of idiocy imposed on the Greek people.

The key tenets are:-

Subsidise & Nationalise Debt:- If the Banks or large corporates get in trouble they are not nationalised only their debt. Also guaranteeing loans and deposits as a massive form of hidden subsidy – tax breaks too.

Monetize Everything:- Privatise or use devices like PFI (UK) to turn Govt services into a stream of rentier income. Paying Financiers considerably more than Govt debt costs would seem insane but it’s the policy of Labour, Tory, Kippers and Liberals.

These policies are obviously unsustainable and defy left right comparisons. They are pro Capitalists in the sense of being pro certain Capitalists but not by use of Capitalism. It is consistent with running society for the wishes of a few rich people and stifling creativity. It’s trying to freeze the world in 1999 if that reminds you of anything!

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