Sunday, July 4, 2010

From Stimulus To Austerity: The Banks Own Britain!

And so the cuts come.

I started this blog because I knew that 'recovery' was a lie and because bankers were bleeding Britain dry.

The bail-outs were given to banks to cover-up fraud. Those bail-outs have indebted tax-payers who now will face 40% cuts in public spending.

Why? The investors and shareholders were given tax-payers money. The banks should have been allowed to fail and the investors (who made bad investments) allowed to take the hit. No, the super rich get looked after and now their wild speculations have to be paid for by ordinary citizens.

When Brown was bailing out his banking buddies and borrowing money like a drunken sailor to do it, that was the future of Britain he was throwing away. He, Labour has destroyed Britain PLC.

Bailing out was economic illiteracy but everyone went along with it. The press talked about more 'stimulus' being needed which meant more debt. It was a theology which almost no-one challenged.

The stimulus was never going to work (If you read my blog going back to November you'll know I predicted it.) That money was borrowed and put Britain into more debt. Debt has caused the crippling of the credit market which underpins the economy and more debt was never going to fix it - it was economic insanity.

You see big banks like people and nations to be in debt because they sell debt. That's why they encourage expensive wars and nuclear weapon's systems. Have you noticed that Cameron is not going to cancel Trident or stop the wars? No, he's going to throttle the tax-paying public.

He, like Brown is in the pocket of big business.

And so more economic insanity is about to ensue. Now we have austerity. The ordinary citizen is going to get robbed again. When you take more money from the working and unemployed population you kill the real economy. People won't be able to spend and so shops will close, people will buy less cars, TVs, Ipods etc. And then unemployment will burden the taxpayer even more. This will crush manufacturing even further.

So, what should the government do. Well, yes get out of the people's way and that includes the economy. Don't do anything. Cut back on war, weapons's systems and lastly repudiate the debt. Send the bankers packing and take our money back.

When you let the banks go insolvent then a new generation of entrepreneurs will pick up the pieces and start again. Right now you have a financial system which will never get out of debt nomatter how much you screw out the taxpayer. They must be allowed to go under and the debt cleared before any economic recovery can ensue.

The next phase of the crisis is going to be economic and financial collapse. Austerity is madness just like stimulus was. This time, when the banks come looking for a bail-out Britain will be looking for a bail-out.

You will be entirely sold to bankers by that time. They will own you as the government sells off schools, roads, bridges and so on. The government stole from you to give money to bankers and now they are going to gut you to pay off bankers.

It's time to stop the madness. These cuts should be opposed tooth and nail and the financial terrorists in The City jailed.

It is time to decide whether or not you value democracy or if you will succumb to bank-serfdom.

Well?

1 comment:

tapestry said...

Prices falling to the level of affordability is a benign process. It's the bubble that was malignant, and its coming to an end has to happen. The sooner and with the least amount of 'King Cnut' bail-outs the better.

For many businesses and young people there will be the opportunity to build up from nothing.

Recessions are healthy. The problem is that they used debt to stop them happening for 16 years. Now we get a big one.

The price of government debt is falling, as inflation is disappearing. Govermments will be able to spend on infrastructure without losing the confidence of markets. Britain needs to spend hundreds of billions on rail, road and air infrastructure. Let's do it in the next ten years. It's a one-off opportunity.