The grand illusion of cuts


Moving to the news that rattled US markets last night, it was really no news at all. S&P warned that the United States credit rating could be downgraded if the ratbag Republicans and the dimwit Democrats didn’t agree to bring the rampaging federal deficit under control. S&P didn’t pick sides, but a blind donkey with elephantiasis would know it requires both cutting spending and increasing taxes. That’s news? Somebody other than Sarah Palin didn’t already know that?

Sorry but Standard and Poors are part of the problem themselves, as with Fitch and others. This cuts business revolves around a fictitious number called national debt. While I’m on the side of fiscal probity and agree that legit debts be repaid, this is not legit. This is debt induced by bodies which exist for the express purpose of regulating the world economy and reducing the people of the respective nations to penury, in order to keep us all in debt or if we’re not, due to good micro-management, to create a situation where we end up heavily in debt.

And there are no write-offs for us.

It’s like tag team wrestling. The Ted Heath types sign us up to the project, lying to the people, Labour soften up the country and create this gargantuan debt, the Tories take over and say we need a massive drop in living standards – us not them – in order to service this created debt.

Who went to the IMF anyway? Who authorized it? Our very livelihoods are being decided by people “at the top” who have signed up for the federalist project – oligarchical control, beyond democracy, with regions under the auspices of the federal centre. Communitarianism, in control of our lives to an extent not possible in a non-localized command set up. And this business of community “leaders” is a nightmare in the making. Pure CP.

Sovereignty anyone?

Global imbalances are back, with issues that worried us before the crisis – large and volatile capital flows, exchange rate pressures, rapidly growing excess reserves – on the front burner once again,” Strauss-Kahn said … “Using the SDR to price global trade and denominate financial assets would provide a buffer from exchange rate volatility,” Strauss-Kahn said, while “issuing SDR-denominated bonds could create a potentially new class of reserve assets.”

We know that already so why are people still going on about cuts as if they’re going to bring us out of the mess we’re in? It’s not paying off a fictitious debt to the IMF and buddies who created it which will get people working again but national policies to restart manufacturing, buying and selling, free of crippling control.

The shop

Here’s a little example. There’s a kebab house up the road which gets evening custom through kebabs. OK, they can’t pay their rental, which the council has bumped up to astronomical proportions, in order to finance ventures into Icesave etc.

So the boss has opened during the day as well, from 9 until 3. Now the problem is, there are double yellow lines outside the shop and no cars can park there during the day, even if drivers could see the billboard outside with the menu on it. Therefore, as they tell me, they have had five customers in two days, during those hours.

The council won’t budge on it. If they allowed parking there, not only would they probably charge for it but it doesn’t block too much of the road – cars and trucks can still go past. After all, it’s a built-up part of town. Allowing parking would have cars stopping off and as it’s the only shop open doing this, they’d get trade.

No, the council doesn’t want. They want businesses inside their own precinct so they can fleece them. Those on spoke roads from the hub get squeezed until they close. That’s what is happening all the way along that road. It looks terrible – shops boarded up and shuttered, no atmosphere whatever.

Therein lies the problem.