DUMA GQUBULE: Why the wealthy elites always support austerity
But all the government has to do is shake its two magic money trees — the Reserve Bank and the PIC
In a video on Novara Media, Aaron Bastani, the co-founder of the Left-wing UK website, provides a powerful analysis of why austerity was unnecessary under the country’s previous conservative government and why elites continue to argue for such harmful policies.
Bastani shows an interview with BBC economics correspondent Andy Verity. The interviewer asks about the country’s soaring public debt: “This is not like a household debt, like running an overdraft. Just how important is it that we pay this off?”..