The eCONomy has again been placed in the 'recovery' position. Why does it keep keeling over? Earlier in the year the business section of The Herald had smoked all the 'green shoots' in town. However traffickers have landed a fresh consignment:
http://www.heraldscotland.com/business/personal-finance/bank-urged-to-pump-extra-25bn-into-the-uk-economy-1.929921
OK, let me get this right. There are more people unemployed and the GDP is contracting even when exagerrated with stimulus and bail-out money. Yet "business leaders" want more of it: David Watt (Executive Director of the Institute of Directors in Scotland) said: "We believe QE to have been of significant benefit to the economy and in speeding a move towards recovery"
What 'speed'? What 'recovery'? What 'economy'?
Just how impressed is David with Brown's Zimbabwe shuffle?: "indeed some might argue that had the policy been commenced earlier we might not have been in such a bad situation"
Let's ponder a moment on this. The economy collapses because there was too much credit and debt. How do we fix it? Apparently with more debt. Heroine addicts should be queuing up to get heroine stimulus. Recession isn't good, withdrawals aren't good. Printing more money is devaluing the currency and all assets with it. Printing money transfers wealth. Printing taxpayers money is fraud.
And what about Gordon Brown's policies towards those insolvent, shhh that's our little secret, banks and toxic assets? Liz Cameron (chief executive, Scottish Chambers of Commerce) expertly thinks: "Our view is that the Monetary Policy Committee should extend its asset purchase scheme by a further £25bn at its November meeting,”
Let us put the above in a different way: The financial sector and the government have destroyed the economy. "Business leaders" want more free taxpayers money. There is no recovery. We're going to print money till we arrive in the Weimar Republic.
The economic statistics are a disaster. The consumer is dead, income tax and corporation tax are collapsing and so Brown can't balance the budget. Will he print lots more dosh? Well, let's consider what other Labour politicians are saying on the subject. Take for example ex-Labour Lord Provost of Glasgow, Liz Cameron. Oh my goodness, that's the aforementioned Liz Cameron from the Scottish Chambers of Commerce. It's a small world indeed.
This Watt and Cameron double act is quite good. Das Herald Sturmer are on to something here. Indeed, they are both quoted in a piece that was, shock surprise, highly critical of the SNP just last week in Das Schottishman:
http://heritage.scotsman.com/scotlandseconomy/John-Swinney-admits-business-friction.5776324.jp
In this piece Lizzy - a Labour politician - and Dave support an attack on SNP policies such as "preventing private sector involvement in prisons and hospitals". Mmm, public hospitals bad Zimbabwe economics good.
"Trust me, I'm a 'business leader'".
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