Monday, February 09, 2009

What's your recipe ...

Start with some basic ingredients, including : a deep recession caused by reckless greed in an overpaid financial community, common people vilified as xenophobic for demanding that they be given the opportunity to apply for local jobs, newspaper articles describing those from poor backgrounds as lost causes, social mobility ground to a halt and the Mayor of our capital city failing to deliver on social housing.

Since ordinary people are under threat of losing their jobs, lets spice up our brew by adding huge amounts of tax to bailout (rather than re-capitalise) big business and allow others to continue to avoid paying their fair share through off-shore havens.

Into this cauldron stir in a huge dose of interest rate cuts hitting savers, the one group of people who were actually spending, in order to prop up the most indebted.

Now for the bitter after-taste. Lets waste billions in tax payers cash on bankers bonuses just so that we can see more capital leave the country. As for the threats on action alas most people believe this to be hollow.

The final touch is a bit of hemlock for our sickly stew. Simply embark on a massive public building program without having first nationalised the building industry. Expect trebles all round from those lucky shareholders.

Our economic wisdom is changing from the somewhat sensible to the absolutely gaga. We're brewing a toxic concoction and whilst the English nature is slow to bring to the boil, we shouldn't forget it takes even longer to get it to cool down.

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