The Mudcat Café TM
Thread #136122   Message #3109862
Posted By: Smokey.
08-Mar-11 - 03:49 PM
Thread Name: BS: Condems get a kicking in Barnsley
Subject: RE: BS: Condems get a kicking in Barnsley
People living on benefits don't drain anything like as much from the system as those in tax-paying but non-productive full time employment. The public sector is paid from tax payers' money, so any tax they pay doesn't really contribute anything to the economy. Some of those in the public sector make a valuable contribution to society with what they do, and some don't, but they all cost money and use resources, and the public sector is now bigger than the private sector. The majority of the private sector is occupied with servicing the public sector rather than producing goods for export and the majority of people in general spend more on imported goods, often unnecessary, than on goods produced here. Also, the majority of people live in perpetual debt created from 'money' which never actually existed in the first place. I forget the overall amount of this debt, but it's mind bogglingly large - without even including mortgage debt. Naturally, that devalues whatever was there in the first place just the same as printing more hard cash would; it's just slightly more subtle. There is little wonder that we are up Shit Creek, but it's by no means the fault of the unemployed or the so-called 'benefit scroungers' - their financial effect is negligable. It seems to me that the only sector now making a significant contribution to the economy is the very rich, who actually still have enough real money left to do so. It's their contribution which is keeping us afloat, or at least slowing down the process of sinking enough (perhaps) to do something about it.

I say all this as an observation, not a judgement or endorsement of anyone or anything. The only judgement I would make is on the team of clueless twats economists who first advised Thatcher on the 'merits' of monetarism.