Anorak | We Just Knew The Guardian Would Come Up With The Answer!

We Just Knew The Guardian Would Come Up With The Answer!

by | 27th, July 2011

IT’S quite stunning how the Guardian manages to solve each and every problem for us. If the little scrotes are mis-behaving then it’s Sure Start for them: bankers getting out of hand then tax them more. If there’s evil in the human heart then we must understand, empathise: unless it’s done by white men of course in which case more tax is the answer again.

And as we’d all expect they’ve managed to come up with the answer to the debt problems. A quite stunningly simple answer too :

Second, the international machinery to deal with debt favours lenders, typically large banks and other bondholders. Effective debt relief requires sovereign intervention by borrowers to achieve substantial cancellation of debt. Even more, it calls for international co-operation among borrowers.

So, let’s all just agree that we’re not going to pay it back. In the more precise solution, we look at each piece of debt, work out what was bought with it and then refuse to pay the bits that were spent on things we find odious. Sounds fine to me, I’ve no problem with not paying the debt that was used to pay Gordon Brown’s salary.

However, as ever in economics, there is no such thing as a solution. There are only trade offs. Yup, we could simply default, tell

You have already read 1 premium article for free today
Access immediately the premium content with Multipass

Or come back tomorrow

Posted: 27th, July 2011 | In: Money Comment (1) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink