As we continue "austerity" the public has no idea that we haven't even started yet. For the last 40 years we have spent more than we have earned! They just don't understand, the media and politicans ensure that they don't find out so no one gets the blame. The small cuts we have had in 2011 is nothing compared to the reall cuts we need for the next 10 years. I think we will be in the same place as we were in the 1970s when we had to call the IMF in and introduce capital controls to prevent money leaving the country.
Already, Goldman Sachs clients have begun shorting UK based companies and banks (they were doing the same to Italy in June 2011 and we can see where that ended). Since politicians can't or won't tell people the truth we will end up with technocrats controlling our budget so the politicians can finally say they have no control and shouldn't be blamed. Sadly, for all their wailing about responsibility they will lump the future of the country on our children by increasing deficits. Its not a Labour or a Conservative problem, its a systemic problem. Our politics in broken. New governments don't change anything.
We are in a depression. Even in 1920s they didn't talk about a "depression" until later. One further question to ask you all - Would you ask an unqualified surgeon to operate on you? Then why do we give control of the economy to people who have no basic training in economics expect to please the people by telling them what they want? We complain about politicians, but its the system thats broken. People need to stop asking to be told what they want to hear!!
I like to mention solutions along with highlighting issues (unlike our politicians):
Here's an idea - Cut Winter Fuel Allowance for those earning more than 30K a year. It'll save around £500m, or put another away most of the money needed to prevent tuition fees in universities. Simples.
Comments welcome.
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