Austerity in US and UK – Reflection

By IndepthAfrica
In Europe
Jun 21st, 2012

Funny MONEY and credit instruments, laced with creative financing and fuzzy math models, have left America wounded, putting the entire economy in structural shock; teetering and tethering.


Extension of credits by instruments, a model developed and preached by the West, using future income models to finance current needs, makes one wonder, are we not living way above our means? The ratio of revenue to current budget needs fueled on undue dependency on placing weight on future incomes, because the economy is in dire strait, is not sustainable. 


Two deficit nations US and UK, are getting to understand that beyond the 6 functions of money, and undue carry forwards, it is time for austerity measures. Tightening spending and really cutting one’s coat according to their size. 


The ‘crazy-like-fox’ class of operators and manipulators on Wall Street, will always assure the rest of us they have the answers. Well, how is that? We have unduly become a labaoratory controlled by weird and wired minds, who prescribe ‘whatever’ financial vehicle, when simple approach very well could have delivered the needed answers. It is amazing!


I get hearty laugh when I hear the word ‘austerity‘ used in US and UK, because those of us coming from foreign countries, very well understood what that means given the often failed financial and economic prescriptions hoisted on unsuspecting nations by World Bank and IMF; the principal command and control arms of US and its European allies on developing nations.


It’s now time for the doctor to test and use their own prescription. I guess what ‘Thou Has recommended, Thou often shy from using’, more like, do as I say but never as I do’. Any country serious about developing, should see what US and UK have done, and never repeat those especially on spending versus revenue. We are choking at our prescriptions and no solutions appear in the horizon. The world is no longer naive. 


Now, the doctor is facing their own prescription but they want Kool-Aid. One in denial always end up confused more.


We must embrace ‘Back to the Basics’ with applied common sense economics, but common sense is a luxury in our good ole US America. I guess, we are waiting for ‘What the Doctor Ordered’, as in Dr. Pepper, but I pass.


What goes up comes down, and the Sun never rises from the West. Does it?




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