One day the people of England will realise that socialists just cannot run the country. The last time Liebour was in government they left the economy in tatters and sure enough, the economy is in tatters again. Is it a co-incidence that most of Europe is run by socialists?
The Bank of England has dropped the interest rates again to 0.5% and asked the Chancellor for permission to start quantative easing which, being a clueless idiot, he agreed to.
Quantative easing is where the Bank of England magics money out of thin air to buy assets off banks which gives the banks more cash. The value of the pound reflects the value of UK Plc and inventing another £75bn of cash dilutes the currency, reducing its value against foreign currency. This makes imports more expensive, exports worth less and all the foreign money the British government has borrowed to bail out the banks more expensive to pay back.
The Zimbabwean central bank has been doing this for the last couple of years and has just had to knock 12 zeroes off the Zimbabwean Dollar to bring the exchange rate down from 161 trillion dollars to the pound. It was also used by the Germans between the two world wars, devalued the reichmark to a trillionth of its pre-war value and as a direct consequence, the Nazi’s came to power on the back of a policy of national socialism depriving Jews and bankers of their wealth.
The general feeling of the ruling class – certainly in the European Empire – is against national socialism and in favour of international socialism. More iNazi than Nazi – very 21st century and the Apple logo will look great on the EU secret police uniforms. Bankers and stock market traders are being held up as the cause of the recession and while the bankers, certainly, have to take some of the blame, they are not the cause of the recession. The British government’s attempts to deprive Fred Goodwin of his pension is precisely the sort of policy the Nazi’s pursued between the two wars.
Quantative easing is going to cost us a lot of money and it will take decades or an event on the scale of the second world war to rid ourselves of the consequences.
Technorati Tags: Quantative Easing
Once again I agree with you entirely.
“One day the people of England will realise that socialists just cannot run the country”
As soon as we get some socialists running the country we might be able to find out, but that’s not gonna happen all the while new labour are in power
“or an event on the scale of the second world war to rid ourselves of the consequences.”
I think you hit the nail on the head there. Trouble is, I don’t see us “winning” the next one. China has the technology, the population and the history. We (the West) no longer have the advantages, both industrial and financial that we used to have. We in the disUnited Kingdom no longer have the cohesiveness or spirit we used to have.
I’m not really sure how a bunch of capitalist countries, trying to artificially sustain a multi-national free-market economy by way of the investment of capital can be considered socialist.
“The Bank of England has dropped the interest rates again to 0.5% and asked the Chancellor for permission to start quantative easing which, being a clueless idiot, he agreed to.”
Hmmm, The bank of England, (that great bastion of left wing socialism ???), and the former chancellor who handed them the power to decide the fate of the economy – not exactly a radical socialist idea I think….
If they were handing the money out as extra payments for pensioners to spend and boost the economy that way, then I could sort of see some semblance of socialism, but the money is going to the banks where I suspect that very little will be passed on – like most of the other cash given to them recently
“or an event on the scale of the second world war to rid ourselves of the consequences.”
I don’t think so, that would destroy markets and would be bad for business. These days we only go to war with relatively defenceless countries with mineral assets
“These days we only go to war with relatively defenceless countries with mineral assets”
Agreed, but other (non-defenceless) countries might decide to go to war with us as their economies begin to flounder in the wake of the economic foul-up we (i.e. our betters) have created. We aren’t exactly loved throughout the world for our past deeds.
As for it being bad for business tell that to the Yanks, who came out of WW2 doing very well for themselves for the next 60 years.
My landlord informs me that he will not accept my handcrafted pound notes. Damn!
Agree with Stan – when will you use terms that we all understand Wonko? The wealthy people who run Europe are called capitalists, those workers who oppose them are called socialists…
charlie: keep practicing, soon they will be good enough, actually, make them from the Royalist Bank of HootsMonLandia and accuse him of being racist, show him my pic and he will accept them
wealthy people are rich and a lot of them are capitalists
wealthy people are powerful and some of them run the world
currently money is the only measure of success we use, so those with the most money are counted as the most successful
if we accept money as a marker for success, we must also accept all the consequences that go with that