tag:blogger.com,1999:blog-4738024787043971090.post7557160523393025737..comments2023-10-23T21:15:02.281+01:00Comments on The Age of Stupidity: Vote for GordonPhill Tomlinsonhttp://www.blogger.com/profile/16427896363273348083noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4738024787043971090.post-26678730286318477792010-03-23T08:08:40.088+00:002010-03-23T08:08:40.088+00:00Ralph,
There is no easy way to reduce the debt. Q...Ralph,<br /><br />There is no easy way to reduce the debt. QE (printing money) will not do this as all it does is impair the economies productivity, default on creditors and makes international money more nervous. If it was that easy then Robert Mugabe would have cleared his nations debt by now, however once you start to print money it feeds on itself and the Government becomes more reliant on itPhill Tomlinsonhttps://www.blogger.com/profile/16427896363273348083noreply@blogger.comtag:blogger.com,1999:blog-4738024787043971090.post-39429527142127207422010-03-22T12:44:56.405+00:002010-03-22T12:44:56.405+00:00“If, as the Conservatives say, they will cut spend...“If, as the Conservatives say, they will cut spending as should happen, this will spark off a further deflationary collapse. This is the required medicine....” <br /><br />More than one mistake there. Spending cuts, per se, are not deflationary. What WOULD be deflationary IS spending cuts unmatched by tax cuts. I.e. it is NET government income that counts. <br /><br />Second, re your claim thatRalph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.com