Money printing and huge fiscal deficits are not the appropriate strategy to solve the problems of the world economy.
Funding debt through new debt will only worsen the problem.
Fiscal deficits, be they local, national or federal, should be vigorously combated.
Assets detained by governments should be listed and sold.
Government restructuring, downsizing and improvement should be an absolute priority.
The austerity measures imposed by the IMF are inappropriate. They dampen consumption and diminish even further the revenues of the concerned governments. The British government budget policy is in principle appropriate, but the way the cuts are targeted, negotiated and applied is crucial. From this point of view, raising the level of VAT is an error.
Governments should start to dismantle this illegitimate tax and replace it with a democratic, transparent and controllable direct contribution to the public service.
TSCF urges more sincerity, transparency and accuracy on the part of governments and central banks in the way they design their budget and economic policies.