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Why are millions of people in Britain persuaded that a collective punishment called “austerity” is necessary?
Following the economic crash in 2008, a rotten system was exposed. For a split second the banks were lined up as crooks with obligations to the public they had betrayed.
But within a few months — apart from a few stones lobbed over excessive corporate “bonuses” — the message changed. The mugshots of guilty bankers vanished from the tabloids and something called “austerity” became the burden of millions of ordinary people. Was there ever a sleight of hand as brazen?
Today, many of the premises of civilised life in Britain are being dismantled in order to pay back a fraudulent debt – the debt of crooks. The “austerity” cuts are said to be £83 billion. That’s almost exactly the amount of tax avoided by the same banks and by corporations like Amazon and Murdoch’s News UK. Moreover, the crooked banks are given an annual subsidy of £100bn in free insurance and guarantees – a figure that would fund the entire National Health Service.