Tuesday, April 27, 2010

Recovery? Get Over It

It's fragile, it gets threatened, people work towards it, they have international meetings about it and yet it doesn't exist. It's R E C O V E R Y.

Let's imagine that going back to where we were economically a few years ago (recovery) is a good idea. Total nonsense but people like being conned with nonsense apparently.

Can we just not pretend though that bail-outs and free money (printed and given to banks by Gordon Brown) is nothing to do with 'growth' figures. We are told we are out of 'recession' because we have positive growth in the economy. Eh? Is that nothing to do with all that money getting pumped in? Without it the negative growth figures would be huge. So please don't bleat about recovery because when all the free money stops getting pumped the false economy it props up is going to collapse.

And how many jobs is it propping up? What is the real economy doing? Difficult to tell when GDP, unemployment and inflation figures are all manipulated. Some good indicators are out there though.

In today's Herald:

22,000 Scots firms struggle as debt threatens recovery

Credit to The Herald's Ellen Thomas for this article. She gets straight to the point in her reporting on the Begbies Traynor Red Flag report:

The grim picture is contained in a report that warns of the risks to economic recovery from a £55 billion burden of debt being carried by thousands of struggling companies in the UK.

Public and private debt amounts to 450% of Britain's GDP. A GDP figure which is artificially exagerrated anyway. People, that's Iceland territory. During the debate when his opponents had a pop at Salmond's 'Arc of Insolvency' he should have retorted that Britain is insolvent too and so his 'Arc' is still a preferable option, for Scotland, to banktupt Britain!

Ofcourse politicians seldom talk sense on the economy. It's all about soundbites. This Herald article perpetuates the myth and it is pervasive across the media. A real debate is not to be had on the economy.

Threatens recovery? What recovery? They've been talking about it for 2 years now and everyone is still duped into believing it. There isn't going to be one - got it yet?

The economic modal we had before has failed. It is history and it is not coming back E V E R. Trying to 'recover' is destroying what's left of the productive economy. The 'solution' IS the problem.

A proper debate must be had for the solution is driving Britain into bankruptcy and collapse. We are in a state of collective insanity. An economic theology is ripping us to pieces. When will common sense take root? The problem is too much debt so how in the name of the wee man can borrowing more money solve that? It's pure lunacy. And the debts continue to mount up. To prop up bubbles in the economy we are taking money from consumers and productive companies. That is killing the latter and when the subsidies dry up will kill the former. That's why they talk about growth while more people join the dole queues and businesses go under.

Will you pleeeeease stop listening to the fools that got us into this mess when they tell you they have the answer to get us out of it. Such monumental failure would be punished in a company or even a school but in banks and government we say "yeeeeeh, we want more - he's got the answers, he's been in power long enough, he should know!"

Can we please have an intelligent debate on the economy? Starting with whether we want a 'recovery' and if not, what do we want?

I'm tired of reading and listening to garbage passing off as political debate. Does anyone else out there want sense?


Quinie frae Angus said...

Thank you Alex for all your information. A subject which I find very complicated (as do, I think, many of the public, hence people believe the garbage the Unionist politicians spout). Your radical summation of the situation helps a lot!

The SNP need to be radical on this.

Alex Porter said...

Thanks Quinie,
There are a lot of clued in economists, traders in the US but very few people on this side of the Atlantic understand what's going on.

For the theory check out Austrian economics. The Austrians have predicted the credit bubble and currency collapse with amazing accuracy.

The theology of debt-driven consumer economics is about to crash and burn. Then we'll get some common sense but not until the fools have destroyed everything first..

subrosa said...

Alex, it's this type of post which should encourage debate. Like Quinie I find the economy complex, although I'm sure in truth it's not. I mean it's only income and expenditure after all.

Keep at it Alex.

Alex Porter said...

Hi Rosie,
I've just finished a 3 week intensive project which explains my absense from the fray.

Doesn't matter much to me during an election anyway - a lot of hysteria and little sense..

Thanks :)


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