Government debt is a tool, not a burden. If you absolutely need the money to invest in fundamentals of daily functioning, productivity and confidence… create that money, invest it, and it will be repaid. Austerity 2.0 will do nothing for productivity. - ThreadSky

mikegalsworthy.bsky.social • 185 days ago

Government debt is a tool, not a burden.

If you absolutely need the money to invest in fundamentals of daily functioning, productivity and confidence… create that money, invest it, and it will be repaid. Austerity 2.0 will do nothing for productivity.

Comments

dawnbritten.bsky.social•185 days ago

We need something akin to the post war effort actually. Labours not up to the job.

colbobs.bsky.social•185 days ago

We need more writers and specialists like Andrew Levi and Richard J Murphy to keep this message loud and clear. We also need ways to make Labour hear them!
How?

frankmassingbird.bsky.social•185 days ago

Governments and tools. Usually fixing broken things v breaking out any Pandora new ideas box (see what I did there, am trying the hopey changey thing.....)

Here we go again. Pain in 2010. Pain in 2016. Pain in 2021. Pain in 2024.

You'd think the patient would have died by now.

katiecannon.bsky.social•103 days ago

Also, for a monetarily sovereign country like the UK & Japan, government bonds are just an interest bearing savings account at the central bank.

Japan’s government “debt” to GDP is way higher than UK.

Monetary sovereignty: Issue own currency. No debts in foreign currency. Float currency

claudem1cel.bsky.social•185 days ago

So true guess we're still in G7 & i bet if Putin started War with us they would have the £Billions

montrose.bsky.social•183 days ago

https://eastangliabylines.co.uk/business/economics/why-government-debt-is-crucial-for-growth-and-prosperity/

montrose.bsky.social•183 days ago

Rachel Reeves is running a strange household
https://eastangliabylines.co.uk/business/economics/rachel-reeves-is-running-a-strange-household/

gandalfpc.bsky.social•184 days ago

Government debt is a tool, not a burden,which is why Liz Truss is still PM.

gandalfpc.bsky.social•184 days ago

Too much Government debt is a burden.

auberon.bsky.social•185 days ago

Austerity, like Trickle Down, is a Conservative fantasy

prettyhatmachine.bsky.social•185 days ago

It’s a fantasy that Rachel Reeves loves.

benrattigan.com•185 days ago

They need to stop controlling the finances of local Government, give them the money they need without strings attached or allow them to borrow to invest.

The Treasury has far too much power.

prettyhatmachine.bsky.social•185 days ago

HSBC who own Rachel Reeves have too much power.

https://www.opendemocracy.net/en/labour-city-banks-finance-2m-donations-bankers-bonuses-u-turn-rachel-reeves/

benrattigan.com•185 days ago

It’s doesn’t matter who’s in charge, the problems with this country lie in the structure of Government, the Green Book and civil service bean counting on everyone else’s behalf.

Making local authorities spend huge sums of money to bid for central Gov money they may not get is ridiculous.

lindnarden2.bsky.social•185 days ago

Incremental steps away from the shithousery of the last 14 years ? It’s the same strategy as the inevitable Brexit rethink isn’t it ?

herbalkoxon.bsky.social•185 days ago

This is not a sensible way of looking at debt, it just isn’t (and, no, I don’t think the household finances straw man is right either).

prettyhatmachine.bsky.social•185 days ago

Are we going to finally talk about how stupid Rachel Reeves is to be comparing the government budget to managing a household?

tjhl65.bsky.social•184 days ago

This is the same shite that Thatcher used to peddle.

I thought that she (Reeves) was vaguely intelligent, but clearly not.

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