Tag Archives: Market Oracle
Debt is the prolific mother of folly and of crime – Benjamin Disraeli
The Market Oracle has published an article focussing on Britain’s debt dynamics. With the title Bank of England Cancels Britain’s Debt, Budget Deficit Crisis is Pure Propaganda it deals with the political propaganda declarations for economic austerity by the Coalition government. Whilst the Labour party takes the opposite line, the reality is that there has been no real net economic austerity in Britain, as there has been no cut in government spending and hence the deficit continues to expand by about £120 billion per year. The reality is that the UK is immersed in an exponential inflation trend that results in the stealth theft of wealth to finance government spending for the purpose of buying votes. Read more of this post
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