Posted by: Martin | October 23, 2010

Condescending Spending Review

Aaaah, the spending review – I felt sick watching Osborne perform to the gallery of sycophants – announcing massive cuts to welfare, social housing, higher education, councils, etc while his cronies cheered in their yah-boo way. The smirks and smiles and back-slapping that greeted him when he finished say it all.

It’s become clear that we have no opposition to this grand design. The coalition’s ideological commitment to the free market is clearly evident as they cut Corporation tax from 28% to 24%.

I’m tired of the lies – that we’re all in this together when most of the Cabinet are millionaires; that the cuts are progressive when the opposite is true; that there is no alternative to cuts when I can offer a dozen alternatives to cuts; that the deficit is due to Labour spending. I’m no fan of Labour, but it was the bailout of the banks and the elite that left us with a deficit problem, not reckless government spending.

If you don’t like the deficit, then why have you privatised seigniorage? The massive profits of creating new money go to the banks, not to the state. And the banks create new money as loans – money in parallel with debt. This is madness.

 

 

And if

 

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