The UK’s coronavirus debt will take decades to pay off as the country faces the most penetrating slump in its antiquity.
The esteemed Institute for Fiscal Studies (IFS) think tank warned Chancellor Rishi Sunak that they will be forced to increase taxes as the nation’s £190 billion COVID 19 spree leads to a reckoning, and borrowing will hit its highest levels in 300 years aside from two world wars.
It came after Rishi Sunak declined to rule out long term tax increases and acknowledged there would be tough choices in future amid a particularly significant recession, and IFS Director Paul Johnson predicted no big tax rises this year or next.
This will be no ordinary recession, it will be the deepest in our history.
Last month the national debt topped the UK’s whole yearly GDP for the first time since 1963 as the Chancellor pumped cash into propping up the economy.
Ten billion has been spent on the NHS’s test and trace programme alone, and another £15 billion on protective equipment for frontline workers, and the debt will be much higher than expected, and £500 billion of borrowing this year and next won’t be a surprise.
And IFS Deputy Director Carl Emmerson said that we’re going to borrow more as a share of Gross Domestic Product (GDP) than we did at the peak of the financial disaster, and he said that while government borrowing is currently cheap, that could change.
He said, maintaining that elevated debt, and in particular the chance that the correlation between interest rates and economic growth turns out to be less advantageous than it is at the moment, will be a task for not just the current Chancellor but also many of his replacements.
Carl Emmerson said tax rises of about £35 billion a year – 1.5 per cent of GDP, might be required just to sustain the debt, adding it could be quite a chunky tax increase, but he added there was uncertainty around the figure, because the economy may end up permanently smaller.
Carl Emmerson stated the Chancellor also said in his address that over the medium term they must and they will put their public finances back on a sustainable foundation, and he believed that what that implied was that once they were through the emergency phase, once the economy had been established to its new normal, they were seemingly going to discover that the economy was not as big as what it would have been had the coronavirus never hit.
And if that was the case, it was highly likely the case, that revenues would still be depressed, and that if they wanted to try to bring the shortfall back to where it would have been absent the crisis, they would need to make some spending cuts, or given a decade of austerity, possibly some tax increases.
And delivering its decision on the Summer Economic Update, the IFS prophesied tax rises were inevitable.
Director Paul Johnson said that the second and subsequent acts were much more difficult to address and get right and that they needed to get the balance between preserving those sectors of the economy which have a long term future for helping the transition to a new normal.
And that they also need to actually deliver goods and services and change – that’s pretty different from just disbursing cash.
Mr Rishi Sunak indicated that there would be challenging choices ahead as the UK enters a rather significant recession, declining to rule out long term tax increases following the £30 billion mini-Budget caused spending on the pandemic to about £190 billion – he said that we need to make sure we have sustainable public finances.
And that he would distinguish in everything they do this year that is one-off and time-limited to help in the first instance to protect people’s jobs but also to protect the long term damage on the economy.
He said that over the medium term, people clearly couldn’t live like this and that we have to return our public finances to a sustainable position over a reasonable period of time and that was the right thing to do for the economy, and that he was not frightened to make whatever challenging decisions had to be made.
Sadly, it’s not only the United Kingdom that will take decades to pay off the debt by this disease, but it also appears to be a global problem – except for China who will benefit from a virus they released.
But why isn’t China paying for this? Why are they not being punished for lying about the outbreak at the start and essentially creating a situation where this virus could transfer to humans?
Let’s have a second wave of lockdowns so we can actually slaughter any promise of normal life under the guise of protecting people.
This is what the government wants because we are serfs, and it will happen in the UK because we enabled our government to take away our ability to resist oppression, and you will never convince the eternally afraid of everything, to live life like you could lose it at any time because they live for the government masters – Stockholm Syndrome for the common people and they can’t even see it.
And capitalism can’t be tinkered with and the gravy train has gone totally off the rails and no amount of amends can fix that, and it’s quite astounding the number of people who have viewed themselves on this matter and are actually siding yet again with the Tories.
Although astounding doesn’t truly hit the mark, rather, typical or even stereotypical would be more suitable. This country is done in and this society, ethically and morally is gradually fading.
Sadly, you can’t fix dumb because some people must love being under tyranny, being thankful for their little houses and a little scrap of lawn – there are only two types of Tory voters, the millionaires and the confused – to find out which one you are, simply look in your wallet.
And the government know how to help this country, but they won’t because of their deep-seated resentment for helping the working classes, and to improve the economy they’d have to support the working classes and they simply can’t bring themselves to do that.
How about our government endeavour to recoup damages from China, after all, they’re to blame for this and if they don’t cough up, pardon the pun, perhaps we should stop importing their goods completely, and make everything in the United Kingdom, that will soon create jobs.
It does make sense, however, making items in the United Kingdom would never happen because the prices would be incapacitating, but it certainly would be doable to make goods in the United Kingdom because the more we make, the more the prices would lower through competition and when stuff was made in the United Kingdom years ago, at least it was made to last.
We now appear to have such an expendable society and buying cheap is actually a false economy, and there are numerous stores out there like this.
The only way to protect our economy is to bring back British manufacturing and to stop importing and to give workers much better rights.
The trouble with our society is simplicity and ignorance, and only education can combat that. The problem is that over the years we have had the intentional dumbing down of education, which has been deliberate.
Dumbing down varied according to the subject matter, and generally involved the diminishment of critical thinking and by weakening intellectual standards, thus trivialising essential information, culture and academic standards.
And for the past few decades, our country’s educational system has seen both struggle and tremendous change, and our children are not prepared for the real world when they leave school.
The journey that takes most students through school before getting their exam results is already packed with complexities, and our struggling education system places scores from standardised testing at a greater value than the actual curriculum taught in the classroom.
This means that students are only learning how to take examinations, but are lacking in other learning opportunities to amplify their possible skills and knowledge.
Take that, along with performance gaps, persistent truancy, and discouraged educators, and students are already working with a built-in disadvantage leaving school.
And on the subject of higher education, a number of students just don’t complete college.
There is an abundance of factors to consider, socioeconomic status, individual and personal barriers, even immigrant status, and it must be understood that some students are going into college unprepared and already slipping behind their peers, and academic accomplishment will be a struggle if at all accomplished.
Countless years ago we began dumbing down educational requirements starting in junior schools and continuing through college, with numerous school graduates who can’t make change at a cash register if the machine doesn’t do it for them.
Public education has been a gradually declining disaster, and now it seems to be exporting to the rest of the globe, and at a United Nations conference 15 years ago, the world’s governments agreed on the goal of enrolling every child on the planet into primary school.
Admittedly they’ve almost succeeded but oddly, this grand scheme didn’t say anything about the quality of the schooling into which we have now forced more than 9 out of every 10 human children, and the plan was to get children into government-approved classrooms, despite what happens there.
But are the students who spend more time at school really learning more as a result? Has the goal of putting more children into the classroom really led to more children getting a decent education? There doesn’t appear to be any indication that children are learning more as a result.
And in almost all developing countries the levels of learning attainment are shockingly low and in numerous low-income countries pupils learn essentially nothing and end up functionally illiterate.
In fact, the situation is so severe in some regions that for it to be improved they would require a more frequent attendance of teachers, and we appeared to have been duped by a central illusion, a confusion between formal schooling and education in general.
And pledging to teach every child in every culture through primary schooling is a little like promising to clothes every child in every climate by giving them a parka.
In fact, until recently, nearly all children learned the necessary skills of life mostly outside of school, through watching and participating in with the activities of grown-ups.
Education is an enduring means of learning, and learning takes place not only in school but in all spheres of life, and when a child plays, or listens to parents or friends, or reads a paper, or works at a job, he or she is becoming educated.
If students in many schools are learning so little and leaving functionally illiterate, and if attendance doesn’t really provide real education. If teachers sometimes don’t bother to show up, then maybe the parents and the children feel that they would learn more outside of school than in.
The presence of this educational opportunity cost may help clarify why, despite all the subsidies and bonuses meant to help encourage children into the classroom, high dropout rates of children remain an impediment to universal primary schooling.
Children are going into school, they and their families are examining the results, and they and their families are deciding they’re better off elsewhere, but sadly, this important educational opportunity cost doesn’t appear to be on a global pedagogical philanthropists radar.
There’s no consensus on why so many poor children don’t attend school or the best way to boost participation, and if children’s labour becomes essential to the family’s well-being, it may prove quite difficult to entice more children to school, and there’s no mention of any education that might happen while the child is outside the classroom.
But for the moment, let’s go on the premise that only schooling is education and that no learning occurs outside of schools.
Under this assumption, not only do children’s minds profit nothing from a day spent at home, but most of the parents of the children in the developing world are themselves completely illiterate, benighted barbarians whose brains are packed with cobwebs.
Therefore, for altruistic pedagogical overlords, it could make sense to get children away from their parents and into schools as quickly as possible, even though in some countries, almost every phase of the schooling system is dangerously deficient, with support, teaching supplies, teacher availability and qualifications, lack of student assessments and lack of incentives for improving learning outcomes.
Over numerous decades a grand experiment engaging in social engineering has been unwaveringly working to homogenise the lowest common denominator product of sub-par mediocrity, producing crops of young people who can neither read nor write, nor think for themselves in any critical way.
And this centres on the myriad of ways in which the powers that be have been systematically dumbing down people as a society for a pretty long time, and all by meticulously calculated design.
Basically, the phrase dumbing down was used as a dialect idiom in 1933 by film screenwriters to mean revising the text so as to appeal to those of lower education or intelligence.
The most prominent example of how people have been dumbed down is through the failed public education system because at one time our education system ruled supreme, but over the last many decades while much of the rest of the world has been passing us by, it appears our insidious governments have had a plan that has been executed to condition and brainwash a population of mindless, robotic citizenry that just does what it’s told, and of course, brainwashing begins early in schools.
But prior to delving into the various ways we’ve been duped and dumbed down through the years, we should take a sharp hard look at the calamitous results, with doom and gloom predictions of imminent downfall.
The economy is struggling, still mired in recession, haggard and cut off from life support, and we’re suffocating, desperately caught in collateral damage, and we’ve become an unfortunate population that’s become prey of its own government’s oppression and tyranny, leaving its citizens vulnerable, following centuries of carefully choreographed design.
And oligarchs of the banking conspiracy have ultimately got what they’ve been planning and plotting. Globally imposing austerity and impoverishment, reducing life to near Third World status, and total control.
And the oligarchs were counting on a dumbed-down society too occupied and addicted to their video games or viewing sports or Kim Kardashian’s latest wardrobe malfunction to even see that the long time oligarch eugenics program was well underway.
But this unfortunate outcome has long been in the making on several fronts, and this is the planned system of a New World Order (NWO) highlighting a planned global economy and a planned global education system that’s been cultivated for well over a century.