the deficits have increased massively in places like the USA and UK, and not because of public overspending on wasteful things like community libraries or subsidised tuition fees. the money printing - 'quantitative easing' - was all done for the benefit of the banking class and major financial institutions. we had 15 years of belt-tightening austerity only to spaff gigantic quantities up the wall on keeping the 1% solvent.
not to mention things like covid. probably wasted 5 years worth of cuts to public services for openly fraudulent PPE contracts, etc. a literal black hole. the UK spent several hundred billion on a track-and-trace app that never worked and wasn't fit for purpose. the govt can barely even say where all the money went. but sorry! that one bus a day connecting your market town to the nearest post-industrial dump has to be cancelled. we're all in it together ...
australians are dealing with some of the highest house prices in the world. money printer goes zoom, asset prices go sky high, major financial institutions and investors snap up housing stock, and ordinary workers get shit. yet you're full of stupid boomer-coded tabloid rhetoric about the fecklessness and irresponsibility of proles. next you'll be telling us you deserve all your comfort and young people need to quit netflix and avocados.
currently the political class aren't opposed to borrowing to spend on public investments. austerity seems to be a spent force. but let's not pretend the reasoning beyond a lost decade of productivity and growth was 'principled'. we had the LOWEST INTEREST RATES possible for 15 years and the government built zilch, with simultaneously the LOWEST RATES OF INVESTMENT in europe. when you wonder why the UK looks like a post-apocalyptic shithole today, and why everyone seems to have given up, it's because the political class absconded for 15 years and became chaperones for bankers.
not to mention things like covid. probably wasted 5 years worth of cuts to public services for openly fraudulent PPE contracts, etc. a literal black hole. the UK spent several hundred billion on a track-and-trace app that never worked and wasn't fit for purpose. the govt can barely even say where all the money went. but sorry! that one bus a day connecting your market town to the nearest post-industrial dump has to be cancelled. we're all in it together ...
australians are dealing with some of the highest house prices in the world. money printer goes zoom, asset prices go sky high, major financial institutions and investors snap up housing stock, and ordinary workers get shit. yet you're full of stupid boomer-coded tabloid rhetoric about the fecklessness and irresponsibility of proles. next you'll be telling us you deserve all your comfort and young people need to quit netflix and avocados.
currently the political class aren't opposed to borrowing to spend on public investments. austerity seems to be a spent force. but let's not pretend the reasoning beyond a lost decade of productivity and growth was 'principled'. we had the LOWEST INTEREST RATES possible for 15 years and the government built zilch, with simultaneously the LOWEST RATES OF INVESTMENT in europe. when you wonder why the UK looks like a post-apocalyptic shithole today, and why everyone seems to have given up, it's because the political class absconded for 15 years and became chaperones for bankers.
Last edited by uziq (2026-02-19 08:46:32)