Thursday, November 18, 2010
The Idiot's Guide to the Public Sector that Produces No Wealth
An idiot's guide to the public sector, and how it only consumes wealth generated by the private sector - the public sector produces no wealth for countries. This specific guide is for the UK as it shows some shocking statistics on the imbalances of the UK economy.
Recorded from Channel 4's "Britain's Trillion Pound Horror Story", 11 November 2010.
The out of control public sector is crippling the UK private sector, and hence the entire UK economy. But still "the state" is expanding, despite cuts.
Grouch: It's pretty safe to say this same phenomenon is happening today in the US. The government is making its citizen's poorer by consuming more and more of the wealth created by the private sector. How do you fix this situation? Unfortunately the US is on the wrong path with the Government consuming ever increasing levels of GDP.