...the casual tone with which you announced that Prime Minister May was not into the (unbelievably sadistic and stupid) deficit reduction strategy of "Osborne"?
While the BBC may seem blissfully unaware, they may also be a coy mistress.
Osborne's 'don't bother to look back at sovereign debt, instead raise taxes in anger' as pat of the neoliberal punitive aspect may actually be replaced with something worse, a policy based upon complete abnegation of all fiscal and social irresponsibility, called hybrid helicopter money after a line in Milton Friedman's book.
This blog is not the place for technical economics discussions, so I will limit myself to saying what one may expect from May is a series of fiscal and legal maneuvers bringing about zero and negative interest rates so the government can keep its burgeoning debt on the books forever at no cost while extracting even the meager hoardings from its subjects. The neoliberal wants you to never 'own' anything and always be paying rent to the sovereign. Sound familiar? We are talking pre enclosure laws feudalism. Theresa May will be the pin up for this highly damaging iteration of the neoliberal state. Osborne will look like Eric Hobsbawn by contrast. Enough wonkiness.
While the BBC may seem blissfully unaware, they may also be a coy mistress.
ReplyDeleteOsborne's 'don't bother to look back at sovereign debt, instead raise taxes in anger' as pat of the neoliberal punitive aspect may actually be replaced with something worse, a policy based upon complete abnegation of all fiscal and social irresponsibility, called hybrid helicopter money after a line in Milton Friedman's book.
This blog is not the place for technical economics discussions, so I will limit myself to saying what one may expect from May is a series of fiscal and legal maneuvers bringing about zero and negative interest rates so the government can keep its burgeoning debt on the books forever at no cost while extracting even the meager hoardings from its subjects. The neoliberal wants you to never 'own' anything and always be paying rent to the sovereign. Sound familiar? We are talking pre enclosure laws feudalism. Theresa May will be the pin up for this highly damaging iteration of the neoliberal state. Osborne will look like Eric Hobsbawn by contrast. Enough wonkiness.