Quote Originally Posted by greybeard_ View Post
Are you a Keynesian? I suppose your solution to government debt is for the government to borrow and spend more money? Thats crazy. These sort of fiscal stimulus strategies are usually advocated by vested interests and captains of industry who always end up cashing in. Bad economics. Bad public policy.
What is an economy? It is a collection of people going about their daily business. And what governs their decisions? A complex interplay of social, psychological and material conditions. The point? Economics is about sentiment. It is not real, in precisely the same way money is not real - it simply represents the value people place on a good or a service at a particular point of time and place. My point? The premise of your scorn is ill-founded. Good economic policy is when people are assured, when they feel comfortable in their decisions and positive with their future. Bad economic policy is the reverse: when one is insecure, worried about future prospects, concerned about their children et al. This clown of a PM we have at the moment, with his risible sidekick of a treasurer are the worst possible economic managers. They sow fear.