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The guest blog is published every Friday and views held by contributors are not necessarily those of Bright Blue netticasino suomi ole, as good as they often are. This is a mystery which has been answered by two – increasingly stale – responses. Those on the liberal side of the debate say our previous output was only maintained by mis-allocated credit. In essence we printed money to pay for goods (produced domestically or from abroad) which we could never really afford. The subsequent depression is the inevitable response to the boom, but it will bring us back to a more naturally 'affordable' standard of living. Government should not intervene in the process of deflation. But it is not just disposable income that is being squeezed today. Government debt, PFI payments, student fees, and increased health and pension expenditure because of an ageing population are all expected to heap a far higher effective tax rates on young adults through their working life. 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