Tag Archives: austerity programme

Politicians? Self-interest? Surely not!

The world’s economic problems will not be solved by politicians. Firstly because they do NOT have the skills to deal with a multi-causal, muti-faceted  and highly technical international phenomenon. Secondly, their decision-making is always impaired and affected by the very ugly spectre of self-interest and their primary preoccupation: re-election.

If you look at the very front-end loaded “austerity programme” here in the United Kingdom, it is no coincidence that so much has been concentrated into the beginning of the government’s  new term in office. The hope is that if all the bad stuff is dealt with at the beginning, then the year or eighteen months leading up to the 2015 election can be a time of faux-plenty with give-aways and maybe some unravelling of the incredibly draconian measures which have been thrust upon us in this last year.

The government could have “phased” the introduction of its programme of economic destruction but its other agenda was to please the euro bankers and money lenders – certainly NOT the electorate. The bankers (as usual) demanded immediate gratification.

There is a good argument for only ever allowing a government a single-term. Unfortunately , after 4 or 5 years, many leaders demand squatters rights over their job with some having extended their tenure for decades.

It would be MOST refreshing for a political leader to say ” We are in deep trouble and at the moment we do not have all the answers, so we are going to try a few random things in the hope that some of them work”. THAT is the truth because  THAT is what is happening.

The politicians REALLY have NO idea what to do next. They have joined us peasants in the gallery as mere observers while the Global Economic Tornado gathers strength and velocity.

The first thing that should be done is for that most sacred of sacred cows, the world’s banking system to be reappraised. Once again, self-interest and re-election prevent the politicians from doing anything but complain  and maybe introduce small doses of irrelevant pseudo anti-bank legislation. More window dressing.

Banks should be a service industry which supplies and redistributes money and not the Black Hole which it has become.  The billions  that banks generate in profits is NOT money which has been generated by production or even work – it is “profit” which takes money and value OUT of the economy. Bank profits are profits which commerce would have generated if banks did the job that they were supposed to do.

So that’s Number One on the agenda.

Now who has the guts to take that first step?