With the main political parties set on reducing public spending, one might be forgiven for supposing that "savage" cuts are the only way forward. However, the author believes there are alternatives, and that is why public education about the financial system is so important. Today, UK is trying to clear up a mess--a mess made by the greedy and excessive explosion of unregulated credit-creation, which, while the party was on, excessively enriched a few. This mess was created by the ideology of "easy" but expensive credit (i.e. credit lent at high rates of interest). The real worry is this: in a deflationary environment the cost of debt (including interest rates) rises. That is why it is essential to make a strong effort to understand finance and economics--monetary policy as well as fiscal (taxation) policy--and not let the boys in pinstripe suits run the economy.