Friday, January 09, 2009

the death of banking

We have a retarded government. They don't have a clue.

The economy has changed forever. Yet still, like the nostalgists they are, they are looking backwards for answers. We got in this situation because people had become hooked on credit and had lost touch with their roots. If you earned £100 you spent £120, and your foolproof investment, your home, would always make up the shortfall, because everybody knows that house prices only ever go up.

Oh dear. This was never going to work was it?

So what are our dear 'leaders' doing now? Are they going back on the gold standard, encouraging us to grow our own food, pumping billions into developing and expanding our rail and tram networks, looking for energy indepdence, increasing interest rates to encourage savings and encourage banks to lend? Are they reducing the money supply to restrict unsecured credit? Are they fuck! They are doing the exact opposite.

I'm more convinced each day that this is the crisis preceding Peak Oil and that the economy can't be mended because the fundamentals have shifted. I might be wrong, but everything this 'government' does seems to make it more certain.
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