asterisk2a + government + evasion   2

Yes this really is the end of Tory austerity – because it was never about economics in the first place | The Independent
[private sector will pick up the tap - the households did, but not corporations! bc long-term ROI growth in not attractive in the west w secular stagnation! see Richard Koo ] But it was a very long time coming. It became clear within a year of George Osborne’s 2010 “emergency budget”, which forced through huge cuts in capital budgets and an intense squeeze on Whitehall departments and welfare spending, that the austerity medicine was hurting, not helping.

The economy was flatlining, teetering on the verge of recession. Whether this was primarily due to the crisis in the neighbouring eurozone and a spike in global oil prices or because the negative knock-on impact of the government’s domestic spending cuts was bigger than initially thought is still debated by economists.
Austerity  Brexit  GE2017  Confidence  Fairy  GFC  bank  bailout  welfare  state  living  standard  deficit  debt  government  household  personal  loan  credit  card  creditcard  underinvestment  inequality  economic  history  social  mobility  income  growth  wage  disposable  discretionary  spending  gini  coefficient  tax  evasion  avoidance  taxation  corporate  taxcut  capital  labour  Productivity  output  gap  recovery  secular  stagnation  infrastructure  investment  Privatisation  Theresa  May  George  Osborne  David  Cameron  Ideology  neoliberal  neoliberalism  ZIRP  NIRP  QE  bond  bubble  asset  reflation  housing  distortion  malinvestment  stimulus  Tories  nasty  party  Conservative  RichardKoo  Koo  Richard 
june 2017 by asterisk2a
▶ How The Economic Machine Works by Ray Dalio
credit great 4 productive investments 4 the future that will benefit u/me/gov/biz like infrastructure/edu/skills. but waste 4 pure consumption that dont increase productivity in the long run. Like consumer credit spend 2 replace a 2yr old flat screen. vs consumer credit 4 vocational/professional further edu 2 get a higher earning job (future higher income 2 repay the then debt liability & have some more/left over). Bad if u dont have later higher earnings from higher education 2 repay debt & just work in an underemployed placement that any college dropout could do. Thing is, college dropout doesnt have that debt liability that the higher education person has (reduced disposable income bc debt repayment + interest payments.) Women are hit double (gender pay gap) & triple (childcare long-term earnings loss). // min16 income growth important 2 keep up with debt repayment beyond interest. if not, we reached peak long-term debt cycle! // doesnt include globalisation's deflationary effects
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september 2015 by asterisk2a

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