End This Depression Now!

I am somewhat fedup of people encouraging government debt, it assumes government spend on the correct things. In 2010 the UK government had to pay 42.9 billion pounds to cover its debt interest, this money could have been used to fund business projects, but in stead it is having to pay off an ever increased debt burden. In my opinion many governments have swollen too large, and austerity is essential to increase efficiency in economies. In the case of Greece, i think that a minority have been paid far too much and it has drained the economy, if the government is allowed to increase its debt, it allows the government to continue to pay ridiculous salaries to a minority, and thus drain the economy. Although some government services are fantastic and important, and governments can help encourage buisiness, I feel that governments are often incredibly inefficient, and for too long some public sector workers have been paid too much and this has drained the private sector. I think it is about time the government cuts their excessive wages and pensions. If governments are allowed to contrinue to borrow, it allows them to continue to be inefficient, and at some point the bubble will burst and the debt has to be paid off. It scares me when people suggest borrowing as a solution when we are already swamped in debt.

Well Krugman looks pretty silly now, no matter how much Obama spent the economy went down the toilet, and Donald Trump came along, cut taxes and now the economy is pushing 4% growth with rising real wages - but seriously if you want to know what not to do - read this book.

Krugman presents his case for how to "End This Depression Now" logically, and in terms anyone could understand. This book is a good read for anyone who wants to get involved in the international debate revolving around our economic crisis.