Well, I suppose every country in Southern Europe has already seen it, and worse. We have had the same in Ireland. Who knows where else?
Today, having seen the policy of austerity fail by any realistic measure, the UK government decided to cure the problem with more austerity.
I am reminded of the Einstein's famous definition of insanity. Doing the same thing again and again, but expecting different results.
Our current (UK) government inherited a situation with the public finances in dire straits but the economy in growth. It said that cutting back the (evil) public sector would increase growth. It did so, since then we have had at least a double dip and possibly a triple dip recession.
Their response to this policy failure? To announce two more years of public spending cuts.
Doh!
There is only one question.
Why? Please provide your answer from the choices below:-
A) Are our leaders so stupid as to believe what they say? Still?
B) Are they merely too proud, unable to admit they are wrong even theough they know it deep down?
C) Could it be that they know they made a mistake, but, with the next election coming in 2015, think that staying the course gives them their best hope then, irrespective of the economic consequences?
D) Have they taken the political decision that this offers a once in a lifetime to destroy the welfare state and force a step change reduction in public spending, and this chance must be taken at all costs?
E) Some other fandiful reason..... please elaborate.
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