The most grotesque consequences of the austerity/bailout cycle will continue to be played out with those least able to accommodate it, but ultimately Europe is healthy enough to build a future that survives the death of neo-liberalism and the US hegemony that upheld it.
We, on the other hand, have just manufactured a deficit crisis, which required aggravating a housing crisis, social care crisis, child protection, mental health, personal debt crisis, removed our ability to address the current problem of an ageing population crisis, pensions crisis, took out a layer of SME with one foul swoop and demands population shifts which will tear apart the communities and institutions, which should be underpinning future growth.
A response which showed the welfare state that resulted from a political orthodoxy that demanded its use as an economic and political tool, to be an abusive tool of social control, which allowed this cancer to take root and a hook for the media to wrap around. We did it, to prove a point, and would have done it regardless of who won the election.
The neo liberal consensus agreed by all parties, in an election where voters didn’t need to know that Nick Clegg had fundamentally changed his position on a deficit reduction plan that was never really up for discussion. That had no hope of ever reducing the deficit.
Those crisis did not go away because the political media ignored and shouted over them, because we were chucking the engine out of the window to lose flying weight.
We did this to further inflate the credit and housing markets that are the problem, because there lies our best chance of a cure. We sacrificed our SME sector in pursuit of this ‘growth’, and undermined the grassroots of many industries.
We planned on using welfare as a means to create 100% employment, instead of addressing the erosion of our industrial base and protection of what is left. We have an economy wrapped around beneficial wars which are not going to happen now, while we prepare to face the consequences of the ones that did.
We just sacrificed everything to ideology of a cancer cell, as a cure for that cancer, because we could and we can’t face the fact our special relationship changed. The things marked done on the resulting to-do list, are terrifying, as are the problems now exposed in our political system. We increased the exposure of everything to a banking crisis that hasn’t completed. Our financial centre intertwined with the source of the cancer, as a result of that special relationship, our economy wrapped round it’s tendency to result in war. Made our political system dependent on a media which could manage the narrative required.
Europe maintained healthier welfare states than we did, the cancer of marketization is not as firmly at the heart of the parts of their economy sitting on crisis. Social care, social work, health services, education systems, industry, welfare spending systems, pensions, employment rights, and childcare, many countries were better at utilising their female workforce, and subsidised the industries at the heart of their real economy even when that placed them in conflict with the global economy, or used their industrial bases to extract real growth from the credit boom. They have functioning unions, not afflicted with the bloated inactivity, and left wing toxicity, that has paralysed and corrupted ours. We are well placed for Europe to deflect anger and consequences for the crisis they are yet to get through as they move onto the new economic status quo.
Our banking systems exposure to the crisis, less of a consideration for them, the more isolated we become. At some point becoming a sacrifice that could appeal, and be useful, politically.