Friday 22 October 2010
All Aboard The Double Dip
However insanely, recession is their excuse for that utterly anti-conservative dismantlement of the public realm which they have always wanted. So a double dip would be their excuse for yet more of the same. That is why they are determined to bring it about. And they are making only too effective a job of it. Still, at least the Labour Leadership didn't go to a man whose only complaint would have been, and doubtless is, that they were going neither far enough nor fast enough.
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What is so galling is that many of those calling for cuts know that it will make things worse. You don't cut spending in a deflationary recession. In 1937, when FDR caved in to the Right and tried to balance the budget by cutting spending and raising taxes, the American economy experienced a ferocious double dip.
ReplyDeleteBut as you write, it is all an excuse to dismantle the public realm and sell as much of the family silver off to private corporations as possible. The politicians will be rewarded with huge campaign donations and cushy private sector jobs when they retire from "public service."