Why Cameron is wrong
- Because his ideology is getting in the way of rational thinking and action contingent on circumstances.
- Because he refuses to admit that without a real strategy for growth, there will be no growth.
- Because he insists the world economy is in trouble which is simply not true (last time I looked Asia and the Far East were doing fine).
- Because he suspects he might be wrong, but he doesn’t know what to do about it; he has painted himself into a corner and he can’t find a way out without leaving telltale footprints.
- Because even if he is right, he has a way of making it feel wrong.
The whole coalition government shebang seems to be predicated on one enormous gamble: cut fast and hard, shrink the state to fit the Tory persuasion and cross your fingers hoping that, in the full term before the next election, unemployment falls and business flourishes to fill the gap.
It’s a hopelessly optimistic strategy given the fundamental trouble with the European and US economies, the increase in inflation partly as a direct result of the one tax hits all increase in VAT, and the fact that the pound in your pocket is now worth about 80p (pay freezes, inflation again, cost of fuel and knock on costs).
Cameron cut out the bit referring to personal households reducing their own debts in his conference speech the other week, but the fact that he had it in there at all betrays his deep lack of understanding of the hole capitalism has put us all in: people, business and nations. The whole damn shooting match runs on debt you prat. Shuffling notional money around so someone, somewhere can cream off the full fat.
I heard it put very well on the radio a while ago in relation to the Chinese economy, which is doing ok. The commentator remarked that they had played the capitalist West at its own game, and beat it hands down: by making tat cheaper than we could make our own tat and selling it to us by lending us money we don’t have.
The system is creaking like rackety ship and what we need is some proper intellectual rigour brought to bear on the economy; not half-baked schemes, total inflexibility and antiquated economic policy. I wonder if Ed Miliband can get that creative. On all evidence so far we can be sure Osborne and Cameron cannot.
The culture of capitalism must keep individuals sufficiently dissatisfied that they continue to seek satisfaction from it, but not so dissatisfied that they reject or resist it outright
Resist, reject, recycle. Make-do, muddle, mend, & don’t buy crap you don’t need.