billy blog ... some alternative economic thinking

I am presently working in the Netherlands at the University of Maastricht. A couple of things to report. First, the Dutch Government brought down its budget statement last Tuesday (third Tuesday in September as is the norm over here). In summary, a surplus of 0.2 per cent of GDP announced. Reactions were that it should have been higher. The Dutch Government is claiming it is about ... wait for it ... the demands that will be placed on it by the ageing population. Seems that this nonsense is influencing budget outcomes everywhere.