Thursday, 18 June 2009

The Cowboy Age

Another excellent analysis of the economic crisis by Vince Cable today. Vince thank you for yet another calm, accurate analysis.

As Vince keeps warning, the Crash is far from over. A bit of bright gameplaying among the financiers staving off the very worst collapses is only a step away from disaster. We still have unemployment rocketing, repossessions and debts sky high, public services about to be cut back to a dangerous degree, crime, alcohol, drugs, violence and hopelessness blighting our society as never before in living memory.

The crucial key is banks regulation yetjavascript:void(0) Darling (currently Chancellor) says this is not going to be done. GRRRRRR. We are staring another BIGGER crash in the face.

The most important issues facing us today in Britain are -

1) the regulation of the banks, splitting them into two sectors - utility banking and international risk investment (Vince Cable's agenda).
If banks are not regulated we will have another crash that will make this one look tiny, because it'll crash on top of an already weakened base. There will also be very little or no Government capacity to borrow in order to do another bail out.

Since Darling is currently fudging bank regulastion the prospects are dire.

2) The second major issue facing us is the database state - this is not unconnected.
There is nothing clearly stated in the current central database proposals to protect us from having our detailed and centralised personal records sold to commercial interests.
Given the record of banks and commercial companies on how they deal with ordinary people's vulnerabilities again the prospect is dire.

We have increasingly become trained to be cows, financial cows, herded and milked by powerful cowboys. This is the new age, not the industrial age, not the information age, but the Cowboy Age.


I don't know what Vince's strategy is around the election. I hope it's to negotiate a Coalition Government so he can be Chancellor.
In which case DO NOT vote Tory. Labour will get few votes so all we need do is avoid a Tory triumph and the LibDems will be able to strike a deal with one or the other main party.


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