The post you are reporting:
The financial problems we have, are not different to the ones in most European countries, in the USA and several others which run a debt-based system.
So it is not all down to Labour, who were one among many governments who continued leading their country's finances into ruin. It's the whole debt-based system that is at fault.
Some other books, other than Keynes, come into the equation here, or articles on the Web, or videos on youtube, where the reality is explained.
The whole economic system of many a country is based on the debt system, from government bonds to speculation on the share market (see day-trading), from Quantitative Easing to a whole range of toxic paper investments.
Add a few Libor scandals and the odd banking crash, and perhaps the property bubble, and some more...including absurd bonuses of bankers and share-company directors in general.
Chancellor Osborne is just mucking about with Austerity while the sun shines and the rain falls in proportionate measure.
If this is what he does when the crops are abundant, what would he do if we had no rain, or only floods?
To activate Austerity and mass unemployment, such as 22% youth unemployment here, or 60% youth unemployment as in Greece and Spain, is sheer folly.
We are on our way out of a system: the end will come, I don't know how, but it will come to an end.