Wednesday, 29 April 2015

As Economies Sink, Why Not Try Something Else?

I have never really understood how the USA can have a A++ rating when it is over $17 trillion in debt but then i am not an economist but you don't to be to know that if you lend money someone already massively in debt, you can wave goodbye to it.
Now the world’s biggest economy has come to a virtual standstill with the Federal Reserve announcing growth had slowed to an annual rate of just 0.2% in the first quarter and the UK economy isn't doing much better with 0.3% growth which isn't what the Conservative Party want to hear a week away from the election.
At the same time, we also hear that the gap between the rich and the poor has grown even wider with the the combined wealth of Britain's 1,000 richest people more than doubling over the past decade.
That would be the past decade when the rest of us have been suffering under austerity which we was promised was needed to revive the economy and make everything better again after the bankers screwed us all over royally.
Obviously, if those at the top have more money but us at the bottom have less, then the famous trickle-down effect isn't working, it has just led to increasing levels of inequality, stagnating wages and a flat lining economy.
So if the trickle down isn't doing as promised by pandering to the rich with tax cuts and sweetheart deals, why not try the opposite and squeeze them with higher rates of tax on the rich and corporations, close every tax loophole and force them to pay their fair share.
We gave their idea a go and it stinks so let's have more financial incentives for the poor at the bottom and more punitive taxation for the rich at the top and let's see what happens.
As the figures show we are heading in the direction of yet another recession, so what is there to lose?

9 comments:

Keep Life Simple said...

oh, you mean like Greece? Good idea.

Q

Falling on a bruise said...

How would doing what Capitalist Greece did be different?

Anonymous said...

So you think Greece is using capitalism? Well, you should shoot for something higher anyway like a Cuban or Venezuelan economy. They are proof of something better than capitalism. Or you could revert monarchy again and copy Iran or say Syria. Yep, lots of choices other than capitalism.

q

Falling on a bruise said...

Greece isn't using Capitalism? Someone better tell them! They should shoot for something higher like a Spanish, Portuguese or Italian economy where they are not completely flat broke, just almost.
Could you name the present Iranian monarchy please and then tell them as the same time you are telling Greece about Capitalism as i think they should know they have a King/Queen somewhere.

Keep Life Simple said...

So as usual you don't have an answer just a complaint. I mean, it seems as if you are advocating for anything other than capitalism but don't have anything better...

Q

Keep Life Simple said...

Monarch, autocrat, what is the difference?

Q

Falling on a bruise said...

Considering i used your own words back at you...where did i put that mirror?

I have asked someone from the Collins English Dictionary to pay you a visit. Ask about pronouncing 'aluminium' and 'route' as they are there.

Keep Life Simple said...

So do you avoid the substance because of the huge weaknesses in your opinions on economics, because you are trying to irritate me, to seem clever, or because you have no meaningful answers to my response?

It seems the last to me - no meaningful response. I'm curious why you comment on trivia that has nothing to do with the subject you started.

I don't see any practical difference between a king or a religious figure. Bottom line is Iran is run by an autocrat. People usually fall back on technicalities (like definitions) to divert. Or, do you see Iran as a democracy? If you do that might help explain how you could think Greece is a capitalist economy...

Q

Falling on a bruise said...

your argument was that Greece isn't a capitalist society. I pointed out it was, not sure what else there is to say about it so I then moved onto your idea that Iran is a monarchy and finally the way you say route.