Originally posted on Flip Chart Fairy Tales:
Last week, the FT ran a series of articles on public spending cuts. Its summary: Half way through 9 years of planned austerity, the FT has uncovered that more than half of government cuts are still to come. And they will be twice as large as David Cameron’s…
All around the world government ministers are obsessed by the size of their deficits: the gap between revenue and spending that can only be filled by borrowing money. This year’s deficit gets added to all of the previous years’ deficits, which accumulate into an ever-expanding mountain of debt. As the debt piles up, so too…
http://www.economist.com/news/finance-and-economics/21631140-interest-rates-turn-negative-some-worse-nothing?fsrc=scn/tw/te/pe/ed/worsethannothing : The Economist reporting that a German bank is to apply a negative interest rate to personal accounts with balances of more than 500,000 euros in an attempt to get people to do something productive with their spare money. I can’t see how negative interest can work when it’s applied by only one bank…
http://anotherangryvoice.blogspot.co.uk/2014/05/green-party-monetary-policy-ahead.html: A very pertinent article from Another Angry Voice pointing out that the Green Party is the only one in the UK that has recognised the stupidity of our monetary system. He explains that the Conservatives, in their ignorance, are amplifying the ill-effects of the system thanks to their idiotic Help To Buy policy while…
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