What would Clement do?

A Labour blog that witters on about Clement Attlee. Hurrah for The Major!

Zombie Economics.

Back in 1980, when George Bush Snr. was competing with Ronnie Reagan for the Republican nomination, he decried dear Ronalds free market mantra as “Voodoo Economics”. Oops, as thats what we have endured, by-and-large since then, with increasing amounts of deregulation until the system crashed in 2009.

Having crashed and burned, you would think that any Government that had to get out of such a mess would think twice before repeating the old Small State Monetarist dogma...

How wrong could you possibly be? With few exceptions, under EU and IMF pressure, what we are seeing in Greece, Portugal, Ireland, Spain and in the UK is a dull, unthinking march into the future. The Chicago School hordes are ravenous for the flesh of the State, and have only one thing on their minds…

“Deficit…Deficit” they groan as they shuffle onwards, no other thought in those otherwise lifeless brainpans.

There is still hope though, and it comes in the form of the economic figures coming out of the USA, where, schooled in Zombie Movies since 1968, an Heroic Black Man is courageously, and intelligently keeping the undead  Tea Party mob at bay…

…just like Night of The Living Dead, when you think about it…

Consider this: In every country where Austerity measures have been implemented, economic conditions have got worse- economies have shrunk, wages have fallen, the cost of living has gone up, jobs have been lost and inequality is on the rise. In Ireland, emmigration, is massively on the rise – something that the “Celtic Tiger” thought was a thing of their underdeveloped past.  The only people to gain from Austerity in every case have been the Super-rich.

So, are we doing all this for the benefit of Lichtenstein?

In the United States, growth is up, unemployment is falling, and the economy is moving in the right direction.

In Austerity Britain, where the economy needs to grow by more than 3% every year until at least 2015 for Gideons plans to work, the OECD has predicted a sluggish rate of 1.5% this year, and 2% in 2012. Even I can see a problem here, one that will be made much worse by having to fork out huge amounts of unemployment benefit, and consequently take much less in tax revenues.


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