What are we doing about our broken banking system?
Broken? Oh, the banking system…we just did austerity and are about to repackage it….we are also considering getting banks to pay treasury staff, and er ….we are still mainly treating banks as the thing that will solve all our problems and shovelling everything into austerity which benefits er..… payday loans….payday loans….QE..bailout….QE…encourage them to lend…give them some money…Exposure to Europe, never mind, there’ll be a ‘reconstruction’ to divvy up…..…banking reforms implemented by NHS homeopaths retained to please hippy voters.
This big bang thing made the lines between government and banks a bit blurry didn’t it, where are the lines between Wall Street and the City of London again?
Doesn’t that make City of London a subsidiary of the primary host of the cancer?
Yup, but we have this REALLY special relationship so that isn’t a risk at all…past behaviour is no indicator of anything. Also they are democratic and really don’t run everything in the interests of a few companies on Wall Street with subsidiaries at Canary Wharf. Did I mention that our banks are now the most unprofitable in the world, and London is now seen as the place cowboys go to trade risky?
Our continental allies could be on the brink of democratic recovery, but our politicians are the winds blowing to tell us that that sufficient debt is likely to be imposed to make that difficult. Our politicians cheering for the upcoming financial crash and passing it off as trying to help have been brazen and reckless. Our short sighted political parties completely misunderstand the nature of the situation and the opportunity. We are unlikely to be looked kindly on in future.
Growth is to be ‘added’ to this by furthering marketization and privatisation, and pouring money to white elephant manufacturers with little link to the real economy. ..
I wish
I wish I had explored the narrative of the US’s hand in Eurocrisis talks fading, I had assumed their disappearance was of Europe’s choosing but maybe not.
Sssh…don’t mention ze…
Nobody mention the overvalued UK housing market, or the debt bubble it underpins, or the broken banking system we sacrificed our economy so we didn’t have discuss, don’t ask what happens when the Euro falls and it is played out everywhere. Don’t examine how voluntary austerity tanked the economy, for fear of putting the prescription offered as a solution by both parties at risk.
Don’t mention that the level of privatisation planned this year is completely undeliverable in every way, and the type of crisis we have just deliberately created, can’t be hidden. Shout about Germany and watch football.
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