tag:blogger.com,1999:blog-2761684730989137546.post7490619160848808605..comments2024-03-28T20:28:01.733-04:00Comments on Mike Norman Economics: Robert Booth and Patrick Butler - UK austerity has inflicted 'great misery' on citizens, UN saysmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2761684730989137546.post-69693297901611229192018-11-20T17:14:03.653-05:002018-11-20T17:14:03.653-05:00“Just think of all the North Sea oil profits Brita...<i> “Just think of all the North Sea oil profits Britain squandered on tax cuts and dole queues and so today we are fiat broke again after bailing out the banks.”</i><br /><br />Take it easy. The U.K. government does not run on tax revenue or oil revenue. The U.K. government runs on money created out of thin air, and hence can never go broke.<br /><br /><i> “The One Percent are laughing all the way to the bank while it's austerity for the rest of us. The whipping boy has to pay!”</i><br /><br />For the U.K. government, austerity is 100% gratuitous. Its purpose is to continually widen the gap between the rich and the rest. <br /><br />This works quite well, because the U.K. peasantry denies the truth about government finances. It works because people who are not <b>(yet)</b> homeless look with contempt on people who are. It works because anyone who speaks the truth about all this is a "Communist" and is “anti-Semitic.”Konradhttps://www.blogger.com/profile/01739209449391854796noreply@blogger.com