[DemolitionRed]

Originally Posted by jet

It most certainly is wrong.
The fault lies with 'Unlimited Cash Corbyn'. The magic money trees in his allotment will not bear the fruit that he has assured his avid followers will produce a bountiful harvest and give them enduring sustenance. Beware false prophets, you young'uns.

How do you think the economy works?

We are constantly being told by this current neoliberal government, that for them to spend they either need to borrow or tax... hence, austerity. Well its time our government stopped lying about this because tax is used to give value to the pound and government borrowing is from the Bank of England, which is government owned!! It has a license to print money.

Hard to get your head round? of course it is and this is why so many people are happily being conned. Look at it this way; if you owed your personal debt to yourself, would you be concerned with repaying it? of course not because its meaningless. The national debt is loaned by the government to the government and because they own it, its meaningless, it never needs to be repaid and so to suggest we can't have the things Corbyn has promised is a lie.

The government can carry on spending without consequence providing the economy can absorb that spending. Too much money creates inflation, so we never put more money into the economy than can be soaked up.

If you research through the correct channels you will understand that national debt can be cancelled because fiat money is nothing more than a belief system.