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George Osborne, Hubris and Nemesis

Summary:
This piece appeared in the London Observer on Sunday, 4th March, 2018 By asserting the policy of “monetary radicalism and fiscal conservatism”, Osborne and his colleagues ensured that those responsible for the crisis benefited from the Bank of England’s quantitative easing programme, which inflated asset prices largely owned by the more affluent. Simultaneously, the Conservative government, aided by Orange Book Liberal Democrats like Danny Alexander, used austerity to shift the burden of the financial crisis away from the shoulders of those responsible and on to those least responsible. It is hubristic to celebrate that “achievement”. Nemesis – that dark, punishing female spirit and goddess – is already at work. To read it in full, follow this link Related Posts

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This piece appeared in the London Observer on Sunday, 4th March, 2018

By asserting the policy of “monetary radicalism and fiscal conservatism”, Osborne and his colleagues ensured that those responsible for the crisis benefited from the Bank of England’s quantitative easing programme, which inflated asset prices largely owned by the more affluent. Simultaneously, the Conservative government, aided by Orange Book Liberal Democrats like Danny Alexander, used austerity to shift the burden of the financial crisis away from the shoulders of those responsible and on to those least responsible.

It is hubristic to celebrate that “achievement”. Nemesis – that dark, punishing female spirit and goddess – is already at work.

To read it in full, follow this link

Ann Pettifor
I’m Ann Pettifor, author and analyst of the global financial system, and co-author of The Green New Deal (2008). I predicted an Anglo-American debt-deflationary crisis back in 2003, and in September, 2006 published The Coming First World Debt Crisis (Palgrave). I am known for my work on the sovereign debts of low income countries and for leading an international movement for the cancellation of debts, Jubilee 2000.

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