Balancing the Budget !

Modern Monetary Theory: Real Economics

As election time draws near in the UK , and the US presidential election campaigns start to get underway across the Atlantic,  we’ll no doubt hear a lot about this topic shortly, if we haven’t already.  Apologies if you’ve heard this all before but the political and economic mainstream still don’t grasp it. Political parties will accuse their opponents of making “unfunded promises”, and of having “black holes” in their budgets etc . Nations’ finances will be likened to a household.

Except that Sovereign Governments, like the USA and UK are issuers of currency. They aren’t at all like a household. If a household has a deficit of say £10k pa then, generally speaking, spending cuts of £5k coupled with an extra £5k of earnings will fix the problem. How many times do we see see the same logic applied to countries too? It never works. It can’t work. Governments…

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One thought on “Balancing the Budget !

  1. …Political parties will accuse their opponents of making “unfunded promises”, and of having “black holes” in their budgets etc . Nations’ finances will be likened to a household. …

    A household that spends money to make itself poorer is not very smart moneywise.

    National debt due to welfare reform admin and its huge IT projects, has risen from
    £0.7 trillion in 2010
    To £1.3 trillion in 2015.

    So the Tories have borrowed more in 5 years than Labour did in 13 years.

    And all the so-called savings have just been transferred as cost to the NHS by the huge rise in malnutrition hospital admissions said by doctors, and Rickets in kids (a hunger sympton that affects bone development for life) said by GPs. Neither monitored by government.

    I can fund not having austerity, and I had just a basic education with Commerce O Level.

    But then politicians are merely aristocratic feudal dinosaurs living without comprehension of basic capitalism, nor knowledge of history.

    No elite in the world has survived when the poor are left to starve.

    The Roman Emperors gave free bread each morning (those nice Italian tear and share bread with a lot more in it than just bread dough – vegetables, olive oil etc).


    Austerity has not happened. Welfare admin both state and private has cost more.

    The Tories have plunged the nation into more debt and brought us closer to dictatorship and revolution than any other government.

    Due a second general election this year, when we will get a TORY / LABOUR COALITION.

    Anti -austerity will actually pay off national debt, cease deaths from welfare reform and starvation from babes in wombs to granies and grandads.

    See how new MPs brought into government could utterly change Labour and shut out the Tories from power for any forseeable future.

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