I listen with dismay to the so-called conventional economists in Europe and America as they continue to misunderstand the fiscal crisis.
Public spending takes money out of an economy, it does not put it in. The fiscal crisis is because governments have spent too much money for too long. Money they do not have.
Government spending is a wealth creator’s tax, a grandchild’s debt or an inflationary money print.
We are not cutting deep enough or soon enough.
For a lesson from history look at President Warren Harding’s handling of the economy in 1921/22 to see what should be done.
Let us avoid the crazy spending of the Roosevelt era which dragged into a depression on for over 10 years.
UKIP MEP for Yorkshire and North Lincolnshire