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Monumental Fiscal Stupidity

All of the main political parties in the UK agree that government debt is a bad thing. All of them would like to fund 100% of government spending from taxation alone. There are many respectable economists who will tell you that this phobia of government debt is irrational, and I’m inclined to agree with them,…

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Corbyn v. The Deficit Dimwits

Jeremy Corbyn’s unexpected leap to the front of the Labour Party leadership race has inadvertently created a modern miracle: it has united every organ of the mainstream media from the Guardian to the Telegraph, and every politician to the right of Dennis Skinner. They all agree that his plans for the economy are bonkers. If…

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Not Enough Money? You Have Got To Be Joking.

Late at night on the 20th of July the Conservative government’s Welfare Reform Bill was endorsed by the House of Commons thanks to the abstention of most of the official opposition’s MPs. The acting Labour leader, Harriet Harman, instructed her party to abstain because she thinks that the Labour Party will be condemned to the…