Cameron: austerity will last until 2020
telegraph.co.uk/news/politics/david-cameron/9...
telegraph.co.ukPosted Jul 19, 2012, 4:00 AM UTC
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telegraph.co.ukWe'll then we're pretty much fucked because unless this economy starts moving then it's going to be depression time.
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From the BBC comments on recently articles regarding 'recession' a lot of people are complaining the BBC is still calling it a recession even though they believe it to already be a depression. 4 years of stagnent markets and a double dip.
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He has just pretty much accepted that austerity is a failure with this comment.
The idea behind austerity is that cutting government spending will give the private sector room to pick up the slack now. That people will increase their borrowing/spending in the short term because they will be able to pay it off with the future money the governments lower taxes will give them. Austerity only won't end if this concept turns out to be a load of bollocks.
If he believes austerity will never end he should resign now.
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Good. Sick and tired of seeing the country living beyond its means.
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In what way?
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Welfare & NHS spending out of control, for one. Money being wasted on useless 'initiatives' and 'public projects' that benefit only those creating them and a tiny minority of the public. I'm happy to see cutbacks in defence spending too.
That's just on the government side of things.
People these days think nothing of taking out loans, credit cards, overdrafts. These are things that our parents would never do. Why? Because they were brought up, quite rightly, with the belief that if you don't have the money to spend, you can't have it. You don't trade away your future for something you're too fucking impatient for.
The only forms of debt that i can see being entirely necessary, are mortgages. At least with that, at the end of the day, you have a sizeable asset to show for the money it costs.
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These are things that our parents would never do.
You must be a older than me then. My parents generation are fucking addicted to debt. My generation refuses to even get credit cards.
Surprised you've not mentioned corporate welfare.
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A lot of parents I know have debts, and a lot of them have debt stemming from their youth, so the fact that "our parents would never do this" is just plain wrong. Some of course won't, because they are sensible, but a lot aren't.
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I only had so much time to type before a work-related phone call happened :p
And i'm 30. My mum passed away 4 years ago yesterday, but despite being a hippy, growing up in the 50's and 60's, never spent more than she earned, and worked bloody hard. On the other hand, my dad, despite working hard, used the cashpoint like it was made of magic and just gave you free money. After seeing my family home nearly reposessed by the bank twice, the loans, the overdrafts and the credit card debt he could rack up, i vowed to never EVER end up like him.
However most people in their age group (late 50's, early 60's), would have done what my mum did. Don't have the money? Can't have it then.
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And how many credit cards or overdrafts do you have?
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None. I have a single debit card, and a current account with no overdraft facility. I'm in credit. I have not one debt to my name, i owe nothing to anyone.
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You realise our entire economy is based upon this spending? Effectively you are saying a million people should lose their jobs because fuck spending beyond our means.
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Yep. An economy shouldn't be based around people spending money they don't have, on shit they don't need.
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Nice to see him blaming our problems on the Eurozone.
It's not like his party's economic policy might be having an effect on our economy is it?
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Because it's working so well now!
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He's right. All the parties agree with it
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It won't at the level they're currently doing it. It'll last to 2016, a year after they get voted out, Labour get voted back in and start spending money.
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Dunno about that, but I can tell you his government won't make it past the next election.
God I wish this were true - Personally while I see the coalition of the inept falling apart, I can still see the 'tories getting a second term as a minority Government. It's not like Labour have got a cohesive plan for what they'll do if they return to power - nor a leader anyone outside of politics can name, and the Lib Dems? Well the less said the better.
Both the Tories and the papers have done a fantastic job of deflecting negativity towards the Lib Dems.
It's almost as if the Lib Dems are to blame for Conservative policy more than the actual Conservative party themselves.
For the small minority of MPs the Lib Dems have in the coalition I think they've done well to get an AV vote, increase personal tax allowance threshold and to force disharmony on lords reform.
Also, Vince Cable has been outstanding over the past 2 years.
I would much rather have compromised Lib Dems sat next to the Tories than the Tories on their own, but yeah the public hate them still and I suppose that's the important factor.
So it's really the same position as last time and most times before that, the lesser of however many evils. I won't vote for the lesser of two / three evils as they are still, well, evil.
Can't see Milliband being elected.
Can't see Cameron being re-elected.
But austerity will.
Dont be negative. Maybe we will win the lottery.
Yes, because the years of mismanagement under Labour are totally not to blame...
Largely irrelevant to whether he gets relected.
But the process has already begun. Millibland can hardly say 'oh look, we're back to normal' - it's precisely why he's so ineffectual. He'll point and scream at the conservatives that what they're doing is wrong, when everyone knows damn well there are few other options, and they'd mostly be just as austere.