The UK is not broke and doesn’t need to borrow to reverse the cuts.

The UK is not broke and doesn’t need to borrow to reverse the cuts. The video clip explains this simple truth about the US economy, but it is also true for the UK and all other countries that issue their own currency. The Eurozone is different because each EZ country uses a foreign currency, the euro… and (whatever David Cameron says) Ed Balls and Gordon Brown prevented Tony Blair from signing the UK up to that particular disaster.

George Osborne’s economic policies and cuts are ideological choices which hit the most vulnerable for the advantage of the super-rich and the multi-national corporations which will/are benefiting from the privatisation of our public services. The cuts are not fair:

Picture 37

A fair society: How the cuts target disabled people.

And the cuts are not necessary:

MMT Movie: Economics for Dummiez

Created by @HaikuCharlatan Published on Jan 15, 2013
MMT (Modern Monetary Theory) Basic Intro:

http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf

Hat-tip New Economic Perspectives

There is a link to an good interview with Prof. Stephanie Kelton about the Fiscal Cliff and inflation, courtesy of the ‘From Alpha To Omega’ podcast…..

http://fromalpha2omega.podomatic.com/player/web/2013-01-12T02_24_14-08_00

Picture 39

Hat-tip @mark5000910

5 thoughts on “The UK is not broke and doesn’t need to borrow to reverse the cuts.

  1. Pingback: The UK is not broke and doesn’t need to borrow to reverse the cuts. | Welfare, Disability, Politics and People's Right's | Scoop.it

  2. We here much about deficits,however the most important one is the Social Deficit which grows daily.Oh yes,those who have nothing are under a full frontal assault from this Government by the rich,for the rich.

  3. Pingback: The UK is not broke and doesn’t need to borrow to reverse the cuts. | SteveB's Politics & Economy Scoops | Scoop.it

  4. Pingback: The Modern Economics (MMT) – Warren Mosler | Think Left

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