What does the word ‘austerity’ mean to you? To me, it means that a government should start cutting its spending and stop wasting other people’s money on either useless ‘services’ or detrimental ones.
A couple of days ago, several hundred thousand UK government employees went on strike for the day.
Nobody else noticed. I can’t even remember which day it was.
If I was running the UK government, and if I was running a real austerity programme, then I would simply sack all of these people, on principle, as they are all obviously completely unnecessary at best, and bad for the economy, at worst.
This mass sacking event would be real austerity.
By the way, if you’re a UK government employee reading this, I would sack you too, even if you didn’t go on strike, as I think you’re all probably unnecessary and we’ll only find out which ones of you are actually useful to the rest of us by privatising everything and seeing what people are voluntarily willing to pay for.
I actually wish you would all go on strike, on a permanent basis, to make the transition to a free market even quicker. After a few weeks of being ‘deprived’ of your services, it would quickly become clear what we actually need (and can then privatise to make efficient) and what has been either useless or detrimental to the rest of us for years, so we can sack these clear macro-parasites without pause.
But I digress.
Getting back to our original question, from the OECD-supplied data that we can see in graphical form above, to the UK government the word ‘austerity’ means ‘not growing spending as quickly as our government employees would like us to expand it’.
The left-hand axis is UK government spending in billions of dollars, though unfortunately the figures for 2011 aren’t yet in (though I don’t think it will be a major surprise to find that spending has grown again, when we do get the figures).
You’ll notice that in 2007, the UK government almost managed to spend less than the previous year, only spending $2.6 billion dollars more than the previous year, but that was as ‘austere’ as they dared to go.
Meanwhile, to pay for all of this ‘austerity’, the government continues to print more money. The 41-year experiment in totally fiat paper money heads even further into the abyss. The collapse, when the government eventually has no choice but to let it happen, is thus being stoked into an even greater calamity.
But they’ll keep kicking the can as long as they are able. Make sure you’re prepared for the collapse, when it inevitably comes, which will probably be in the form of your private pension being stolen, and all government welfare programmes being sliced into invisibility, except of course those welfare programmes for UK government employees.