Rally Against Debt

The burden of debt

Let your reasonable, informed, intelligent voice be heard in London starting at 11.00am on Saturday 14 May in this sensible gathering that asks the government to act firmly on the massive debt problem that Gordon Brown has burdened this country with.

According to the Rally Against Debt (RAD) website: “We all think that the national debt is a really serious issue and it would be immoral to leave it to future generations, we need substantial spending cuts sooner rather than later to avoid seeing more and more of our taxes go on debt interest not paying for services”. Which makes absolute sense, in fact it is the only way forward as has been pointed out on here several times.

Here is the Facebook event page where you can sign up for the Rally Against Debt. On this site Guy Woodward says: “I’ve always been reluctant to protest about anything, as I consider there to be many more effective ways of achieving things. However, for the first time ever this is an issue that I believe is worthy of demonstration. If the media is dominated solely by the anti-cuts brigade, people will begin to think only one opinion exists in this country”. A sentiment that is hard to fault.


    1. @ Ian
      It is funny that all the bankers, all the economists, all the financial journalists and ALL the politicians disagree with him.


  1. Except the Nobel Prize winner Paul Krugman?


    1. Not quite. Put 2 Economists in a room and you get three opinions. It is the only academic area where two people can share a Nobel prize for having opposite views.


  2. From Ian’s link above:

    ‘Keynes called it “the paradox of thrift”: when the people spend less, the government has to spend more’.

    A point that really needs serious consideration by our government in the US as well. With our last President, the line of thinking was this…drastically reduce the tax rate on the super wealthy and the corporations who will in turn invest the money back into the economy. What happens when the investment back into the economy doesn’t happen? Without some form of government intervention, the rich get richer while the poor get poorer. The real tragedy is the ongoing annihilation of the middle class; the true economic engine of any country.


  3. So it’s not true that all economists disagree with Johann Hari, and in fact, it’s impossible to establish a consensus?

    Do you accept that “As a proportion of GDP, Britain’s national debt has been higher than it is now for 200 of the past 250 years”?


  4. @Ian – Ahah, Paul Krugman. I like how in an essay about lying Hari has the temerity to say that Krugman’s predictions have consistently been proved right. Those are some hefty brass balls. Krugman has been consistently wrong in his solution to the recession. He supported TAARP, and when that proved an overwhelming failure his response was, MORE TAARP. The man is a professional, party tribal troll.


  5. Krugman is a Keynsian who suggested back in the ’90s that the US ‘needed’ a property bubble?

    Well, he got his wish.


  6. Krugman and Stiglitz are both pinup boys of the Left.
    The Guardian’s comment page gets all angry when anyone dares to discredit either of them.

    “They are both Nobel laureates” goes the cry. Completely disregarding that so too was Friedman.

    “Not Friedman, He’s bad. I read about him in Shock Doctrine.” (the very same book that argues Maggie created the Falklands War to crush the British unions – I kid you not)


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