tag:blogger.com,1999:blog-4732407426313451205.post6524094079309730378..comments2024-03-08T15:43:20.236+00:00Comments on Keynesian Liberal: Has the Liberal Democrat leadership got a death wish?Peter Wrigleyhttp://www.blogger.com/profile/16481117156930677255noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4732407426313451205.post-91791633987837251632013-09-17T06:57:02.861+01:002013-09-17T06:57:02.861+01:00Thanks Viridis Lumen: I couldn't agree more. ...Thanks Viridis Lumen: I couldn't agree more. The Greece analogy has never had any validity, and there's a strong whiff of Mrs Thatcher's "economics of the grocer's" shop about the neocons. They make easy "perception management" which goes down well with the red tops (and above all the Daily Mail) but they have held back the recovery and the weakest in our society are the ones who suffer.Peter Wrigleyhttps://www.blogger.com/profile/16481117156930677255noreply@blogger.comtag:blogger.com,1999:blog-4732407426313451205.post-26472758831210457802013-09-16T22:59:43.285+01:002013-09-16T22:59:43.285+01:00There are many myths about economics and the suppo...There are many myths about economics and the supposed virtues of austerity. One, oft-repeated by Mr Clegg after his supposed mirror shaving (but secret) turnaround during the election was his fear we would turn into Greece and end up bankrupt.<br /><br />But that is so much the currency of fear - firstly as you say, our debt ratio was much lower. However, secondly, it is nigh impossible for a sovereign currency state to go bankrupt simply because, unlike Greece, it can print money if needs be. It is not always the solution that is ideal, but it does mean that even states like Mugabe's Zimbabwe and Weimar Germany never actually went bankrupt even at times of hyperinflation. The Thatcherite analogy with a shopping basket is nonsensical on a national level: but Clegg and even Labour repeatedly validate this, perhaps betraying either their own economic illiteracy or their neoliberal leanings (or both!).Viridis Lumenhttps://www.blogger.com/profile/08097453038753328641noreply@blogger.com