a creditor nation doesn't want the money we create, it wants the commodities our money buys. the only achievable way of doing this
is making commodities in the domestic market available. cuts in public expenditure will ensure those goods aren't consumed as people lose their
jobs and with them their purchasing power.
WTF?
Its not just commodities that they may want to spend our currency on. Other goods and services may be just as desirable.
The creditor nation may be exporting commodities and other stuff to to us, and imports make up a good deal of the domestic consumption that you are calling on us to reduce. If we import less, it will help our balance of trade but it damages the country that is relying on us as a market.
Likewise, if we manufactured, mined etc more stuff that other people wanted to buy, they would have more use for our currency. Not sure why you'd need to slash the public sector etc to achieve that.
As for commodities, our North Sea oil production has dropped massively in a decade and we now have a lot less of it to export. Probably little that can be done about that, and cutting stuff doesnt make enough difference. Yes there are all sorts of scenarios where we could be priced out of the market for a commodity, leaving more available in the global market for others to buy, but I dont think we are quite at that stage yet.
I disagree with any posters who think there arent a load of really big problems of epic proportions that require us to change a lot, yes there is extreme ideology at work here, and making the most of opportunities, but there is other stuff going on too. The problem is that underlying fundamental issues are totally overshadowed by the numerous injustices and general lack of fairness. Imagine for a moment that its not just a load of fiscal shenanigans, and that resource constrains mean we have to massively change our lives and our expectations. Well, there is no chance of doing that in a way that most will go along with when the burden is placed so unfairly upon certain people, whilst others spend their energies in shoring up their own position and wealth, and we are denied detailed information and debates about the underlying realities.
I think it can be hard to ascertain this nations true wealth. In some ways we are well developed and wealthy, in others we are poor and the dodgy systems whose partial-failure and near collapse we may celebrate, were also responsible for allowing us to pretend to be better off than we ought to be. We've still got some potential, but we have to go in a direction quite different to the one e have been travelling in for 30ish years, and this involves the loss of some of the perks that went with the horror.
What is entirely missing at this stage, is the idea that if we must suffer and sacrifice in some way, we should get something in return. And I dont mean that all we get is a lecture in how to be responsible with our own finances from people who were deeply irresponsible with the nations finances. I mean fundamental rights. But right now, before we can get to the stage , we are being stripped of many of the basic rights that were hard won in the past. If they get away with this now, I dont think they will get away with it forever. For if we are to become poorer as a nation, if there is less to go around, then it must be shared more evenly, not less.
), we've over spent and then it was all made worse by bailing out the banks. Is that fair?
