Post
"... the crisis is looming, as it is in many other countries in the west, we're not alone. You look at Britain, you look at the US, you look at France ... the West has a problem, and when is it going to ween itself off debt."
#RuthRichardson, 2025
https://www.youtube.com/watch?v=ORHkxrYatEg
Um, no. What we actually need to ween ourselves off is oil. Finite, polluting, increasingly expensive fossil fuels. That's a problem. This "Debt crisis" is an invention and a distraction.
(1/2)
Richardson too is a fossil. In the few cases where debt is serious enough on a geopolitical level to call it a "crisis", it's private debt, not public debt. Because private debtors are much more likely to default.
It was private debt that caused the GFC in 2008. It was private debt that caused the sharemarket crash in 1987. It was private debt that caused the 1930s Great Depression.
In all 3 cases it took massive public spending to dig countries out of crises caused by private debt.
(2/2)
Richardson parrots the same old tired, 1990s rhetoric, over and over in slightly different words, and Jack Tame just won't let her away with it. She's so out of her league I almost feel sorry for her. But I don't.
@strypey yes, that, and taxing the richest, because presently, they're the ones who're currently holding the debt (and, unlike with tax, the rest of us are a) paying interest, and b) will pay them back, which is just foolish). We need a better government run by better leaders who don't see 'the rich' as their only constituents.
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