Found on the Net:
In 2011, the Nobel laureate economist Paul Krugman characterized conservative discourse on budget deficits in terms of “bond vigilantes” and the “confidence fairy.” Unless governments cut their deficits, the bond vigilantes will put the screws to them by forcing up interest rates. But if they do cut, the confidence fairy will reward them by stimulating private spending more than the cuts depress it.
In other words, like all conservative economics, it’s nonsense. Or superstition. Or magic. Or they know it’s a big fat lie and they won’t admit it. Probably the latter.
Not to mention that there are no true conservatives anywhere on Earth who even believe in anti-deficit theory in the first place. All modern conservatives, given the chance in office, will balloon deficits wildly. In the US, this is due to another scam. Conservatives deliberately blow up deficits to cause an artificial debt crisis. Then the lying dogs start screaming about the deficits that they themselves created (without acknowledging that they created them) and demanding the destruction of most if not all social spending to fight the deficit crisis. The fact that they got away from this scam for decades is outrageous.
The corporate media of course is in on the whole scam and never blew the whistle on them even once. Americans, who are profoundly idiotic in terms of political economics, finally started to catch onto this scam under Trump a full 40 years after it was implemented under silver-tongued Scammer-in-Chief Ronald Reagan. In terms of political economics, Americans are some of the dumbest people on Earth. All over the world, people vote their class interests. Only in the US and a few other places such as Hong Kong and Colombia do they not do so. Americans are the ultimate class cucks.
Venezuealans and Nicaraguans, dumb spics in most Americans’ minds, have a far greater sense of political economics and class consciousness. No way on Earth could you put a scam like this over them. They won’t fall for it. It’s rather pathetic when dumb spics are vastly more intelligent on political economics than Americans are.
I guess Brazilians and Colombians are dumb enough to fall for it. But Peruvians, Paraguayans, Argentines, and increasingly Chileans ain’t falling for this crap anymore. Neither are Hondurans. Or apparently Mexicans. Salvadorans supposedly have great class consciousness but they just voted in a rightwinger named Bukele. Guatemalans are permanently class cucked and confused, possibly terrorized into supporting rightwing economics, though most of them don’t seem to have a clue about politics or economics. Ecuadorians are apparently easily fooled.
Outside the Western Hemisphere, no one falls for this crap except in the UK for whatever weird reasons they have. The Baltics became extremely class cucked as a reaction against Communism and it was deadly for them. Indians seem pretty class cucked. At any rate, if they have any money at all, they go hard rightwing on economics. You can’t put this scam over anywhere in the Arab World. They won’t stand for it. The Arab World is run by populists. Nor could you in Turkey.
For that matter, in most of the former USSR, it’s not possible to class-scam people. 70 years of the USSR guaranteed that class consciousness is pounded into the sense of all workers. This is what rightwing idiots don’t get about the fall of the USSR. They didn’t end up with this neoliberal paradise full of class cucks that they wanted. Instead, they ended up with a permanently militant working class and a permanently socialist or social democratic state. You can change the form (the state) but you can’t change the contents (what’s in people’s minds).