It is Obvious

Chris Rick has got altogether too much to say

Will no one rid me of this turbulent…idiot?

Posted by chrisrick13 on March 22, 2013

It is obvious: when the revolution comes there will be a lot of people lined up against the wall

The government numbers for dealing with our debt work because the OBR has fantasy growth rates into the future.  It cannot get away with current GDP but they just accept it and then project even more unlikely rates a couple of years hence where it cannot be absolutely refuted: this is what the model says.  At some point the pattern will become so obvious that the deception will not even work for the most stupid voter…well maybe it will.  I would like to see the debt numbers for the economy assuming that GDP will be 0.3% for the next 10 years.  A horror story no doubt.

The problem is that there is no recipe for getting growth.  Where we are now needs growth to prevent a step change of large proportion.  This is no bad thing as I have said.  However a lot of people will suffer and have their hopes dashed.  I suppose that I ought to back efforts to manage the situation for that reason except that I see plenty of people suffering to pay mortgages and handle the burden of negative equity.  There is some choice of exactly who will suffer.

The best that a government can do is to create an environment where growth is possible.  Sometimes they can manage things to get to the point where it is probable.  Were there a recipe for growth we would have used it a long time ago.  Not only can a government not click the growth button, all the wisdom from earlier years does not apply now – things are too different.

So I am heartily sick of turning on the radio or television and hearing Ed Balls telling me that the government have it wrong and if only they had listened to him there would be growth.  That being the case, and it isn’t, why didn’t he do it when Labour were in power for 13 years?  He was the chief architect of getting this country into the worst possible state to withstand the credit crunch that it was possible to do.  He does at least have a value.  The government have got no chance, but of all the possible options available, given his track record, Ed Balls eliminates one wrong option.

It is obvious: when the revolution comes there will be a lot of people lined up against the wall – not so many actually as I’m contemplating an early start.

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