Quote:
Originally Posted by Chrysalis
ignition that is the one single biggest thing you say that makes me baffled, cuts = growth?
I would say keeping people employed is more important than a deficit, there I said it. I suspect some others agree with me but its not a popular thing to say out loud. The government will keep ticking over, its not going to send the world crumbling down around us, those working can support more tax if required, I am a firm believer of the broadest backs should take the biggest part of the burden. I dont like people been taxed just for the sake of it, but I think taxes should go UP during recessions and down during booms. But not down too far of course. Money cycling is key to any economy. People saving up in savings does not = growth.
The manufacturing the shining part of osborne's figures, yet manufacturing took a battering from the last tory government and is now a show of its former self. One reason my city is so dependant on the public sector is that it used to be a major hosiery employer but thats now mostly all gone offshore in typical capitalism drive for profits.
These financial experts arent very good are they, I predicted a double dip and I am not on some 100k a year for been an expert.
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Hi Chrysalis, George Soros on the Beeb on Wednesday:
- Market Fundamentalism doesn't work
- UK cuts could trigger a recession
And that's from someone who knows the workings of the markets pretty well.
http://www.bbc.co.uk/news/business-12291527