Tory economic competence – by Patrick Donnelly


We are constantly regaled with stories as to the greatness of Thatcher and “wot she did for the country”. Lately we have been told daily that the current rate of inflation is the highest in 40 years. Who was in power 40 years ago? It was Margaret. Who would have thought? The reign of Margaret was characterised by high inflation, low growth and high unemployment. A poor economic record but if you get a reputation for getting up early you can lie in bed until lunchtime.

With Thatcher and Reagan came Neo-Liberalism in the 80s. Both countries lost large chunks of their manufacturing bases. Millions of high value-added jobs replaced by “Mac Jobs”. In the US the middle class has been hollowed out and where the US leads its poodle follows – it is happening. The City of London and Wall Street are ever more corrupt and when they crash the losses are nationalised. The plutocrats get richer and richer. Rightly so as the plutocrats control and pay the politicians.

Truss talks about trickle down (Truss is a creature of the ERG). This phenomenon has never actually been observed in action anywhere. What has been observed is “flood up”. Research “Marginal propensity to spend”. It’s the poor who spend all their income, not the wealthy. Cameron and Osborne brought austerity which has never worked anywhere. (Two Eton dickheads). Look up “Paradox of thrift”. If Kwarteng (privileged black person) wants to boost spending, money should go to the poor and not to tax breaks for his banker buddies. His Mammy was a barrister and his father an Economist. He went to Eton and Cambridge. How’s that for black privilege?

Thirty years of Tory incompetence and corruption in last 43, and set to continue.



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