tavyred
Very well known Exeweb poster
- Joined
- Aug 23, 2004
- Messages
- 14,180
Well done Mike you’ve just endorsed Johnson’s (and Biden’s) tactic of large scale borrowing in order to intervene in the economy in the hope that economic activity and productivity are increased.But deficit leads to national debt.
Anyway, the IMF was a big supporter of austerity during the Asian crisis. The problem with austerity is that it smothers a nation's economic activity and leads to a breakdown in society. I was already here in Indonesia in 1998 when the crisis started.
It was a very challenging time, believe me. I saw stuff.
You should be pleased that Boris shamelessly nicked McDonnell’s plan from Labour’s manifesto from 2017 and made it happen. The left for once, won the argument,