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Musings on a world I am no longer sure about
This may be a rant.
Fucking amateur economists. “The Euro was flawed from the start”, no, the fact we had to bail entire countries out because PRIVATE FUCKING CAPITAL took all of the money is the flaw here. And our government want to continue the same economic fuck up, the one started by Thatcher and Reagan with the deregulation of the banks in the 80s.
They’re like gamblers on a losing streak. They remember the good times, they want just a little more money to push into the economies in the hope that the good times will return.
What we need is to break up the banks. Stop their betting. Make a whole bunch of people at the top substantially poorer and we need to STOP selling off the vaguely nice bits of these nationalised banks cheap. We should make them make money for us, not their shareholders.
Seriously, I would very much like some economists to run the country. Instead of a bunch of idiots desperate to implement their flawed ideology.
Smaller banks. If they fail, they fail. It’ll make them more cautious. At the moment, they’re too big to fail and they know it. So they gamble recklessly and expect us to bail them out.
How much money did Europe spend bailing out its banks? We, on our own, we spent £850 billion. That’s £850,000,000,000. That’s £14,000 *each* on our own bailout. Is it any wonder that those countries with a smaller GDP are now financially fucked?
So I’m sorry, but when a politician says the Euro is “fundamentally flawed” or that we have a debt problem or that it’s the fault of subprime mortgages or governments overspending on social welfare programs, I just want, very politely, to take them out and shoot them and replace them with an economist.
They talk about the realities of the market, the reality of capital, they claim that the private sector is the model they wish to emulate because the public sector is inefficient. Well, let’s start with them then, because in business, you hire the best to do what they’re good at. Not any old fool who looks good on telly and can get votes.