I was certainly delighted that Keir Starmer suggested ‘Recovery bonds’ as a method – in order to, well, recover from the Covid hangover.
Yes, most on Progressive Pulse know that government creates money out of thin air so never needs bonds. But others of us might like bonds in order that those savings might earn something so that we can save for a rainy day – something in the neoliberal society we now have, we know that we usually need. As that is where we are, we have for the moment to accept this, I suggest.
Labour could move away from this once it is in power but cannot realistically do so before.
So Recovery Bonds will generate savings in the right quarters and also give the lie to the idea that all this is disastrous debt – a few images to bring home the point:
So two sides of the same coin and Keir Starmer has at least – and at last – put the idea in the savings category – savings that is, for people – for all of us, either directly or through pensions, indirectly.
This is, I suggest is sensible and a good scheme.
And of course the old usually have most money – and so they can directly invest for the recovery of ‘their’ young.
Goodness, that should even appeal to Conservatives…