You’ve Got to Laugh
Following the biggest financial meltdown in history over the last 2 years, the optimists are vociferously making themselves known and talking the economies of the world, up.
However, the United Kingdom is not doing as well as Germany (and France), apparently. The reason for this is that Germany’s profits have mainly come from manufacturing exports and their trading is done mainly in the Euro which makes their transactions and agreements easier. Also, in Europe they are not so het up about house ownership and thus didn’t have the collateral to increase the levels of personal debt that has been seen in Britain. This was the news this morning.
Meanwhile, UK house prices are sliding up again….
- Q. So is it back to normal?
- A. I think attitudes are back to normal.
White van man and the manic BMW & Audi drivers are hammering down the motorways again, so they can obviously afford it.
In the same news programme this morning it was stated that Britain’s recent prosperity is based on… the financial markets.
So Germany makes, while Britain gambles…
And as optimism returns, all the platitudes about financial controls are being quietly swept aside. Instead of controls, HM Gov is going to increase the tax on the gamblers!!! (see “Call for bank tax to curb bonuses” )
These are all clever people apparently, and they’ve all done their economics homework.
But they fail to correlate the fact that the gambling spiv country has done badly in the recession and that the prime reason for the recession was people acting like gambling spivs.
So while they’ve made “agreements” for tax-havens like Bermuda & Liechtenstein to behave better, Britain, in actual fact, has not altered it’s behaviour. It’s whole raison d’etre and source of wealth is gambling and spiv cons.
Britain is like a Las Vegas in the ocean. Only bigger.