Are the Tories planning to bury us in debt when interest rates rise?

This is a truly alarming post because of Mike’s predictions that household debt is going to rise, and that Osborne plans to put the long term unemployed permanently on workfare, thus taking them out of the official unemployment figures. The immediate result of this will be a depressed, frightened workforce of people, who literally cannot afford to be out of work in case they lose their property and the roof over their heads. The other result of this is the creation of a permanent pool of practically unfree labour, composed of people forced to work for a pittance, that can easily and arbitrarily be removed by benefit sanctions. The ultimate result, if this continues, will be slavery.

Very many bloggers, including myself, have pointed out that workfare itself constitutes a form of slavery or forced labour. It was used in by the Third Reich to falsify the unemployment figures there, though the Nazis only limited compulsory labour service to six months or so. They had real slaves in the form of the Jews and Slavs that they could work to death, instead of the civilian unemployed. In the ancient world exploitative levels of debt were also the cause of slavery, as families saw rich merchants seize their children for loans they could not repay. Both the Hebrew prophet Amos in ancient Israel and the great Athenian lawgiver, Solon attacked and condemned this form of exploitation, and attempted to outlaw it. As for workfare, this will create a class of helots. These were the state slaves in Sparta, who performed the menial work for their masters. Osborne’s plans to increase debt and expand the workfare programme hasn’t gone as far as the reintroduction of real, chattel slavery just yet, but it’s coming increasingly closer. In this instance it’s highly ironic that Von Hayek, from whom so many Tory policies are derived, gave one of his books the title ‘Roads to Serfdom’. There is indeed a road to serfdom, and it’s through his extreme free-market economics.

Vox Political

It is surprising that they don’t seem to think we can make the connections.

Two articles have leapt from the national media to trouble us this week. The first, in the Telegraph, states that the economic recovery that has made George Osborne so proud is built on mounting consumer debt and a housing bubble.

(This is something that has been known to us for several months, in fact. Osborne’s ‘Help to Buy’ scheme is the principle cause of the bubble, and it was recently revealed that there is no way to slow it down. Let’s not forget that the taxpayer is underwriting the scheme – so when the bubble bursts we will have to pay both as individuals and as a nation!)

The second article is on the BBC News website, which tells us that up to 1.4 million extra households could face “perilous” levels of debt…

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One Response to “Are the Tories planning to bury us in debt when interest rates rise?”

  1. jeffrey davies Says:

    yet osbornes mate in the bank fiddling the figuresto suit but bubbles burst has the bankers still screwing us and most of all they still free

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