Friday, 4 December 2009
The writing's on the wall
A fellow blogger, called writingsonthewall, often posts on BBC web sites. Their insight is sharp, to the point and accurate, and many bloggers support (including myself) much of what they've said too (see 1, 2 ,3 for instance). Like many comments from bloggers, their comments/insights embarrass most of the BBC 'journalists' (and particularly Stephanie Flanders) who fail the address the issues faced (with Robert Peston perhaps providing one of the few exceptions).
Today they posted the following, and I've decided to publish his exact comments here too:
"Lets get a few things straight ...
a) The recession is going to last for much longer.
b) Small growth off the back of a £200Bn QE programme is not growth, nor is it a sign of recovery.
c) Throwing money into specific areas of the Economy merely creates short term bubbles - not sustained recovery.
d) The Government has given us all a huge pay cut - and nobody has even noticed.
e) 0.5% is the lowest rate by the BoE for a long time (if not forever). A clear indication that the situation is far worse than being admitted to by the Treasury and BoE.
f) Overproduction has occurred and as a result capital needs to be destroyed.
g) The Government will tell any bare faced lie in order to save it's own skin. It's not operating for you - it's operating for it's own success - to be elected. They don't care two hoots about the people.
h) We will not make any real and tangible profit from our banking stakes - not a penny.
I have been predicting a long recession since this started in 2008 - I also claimed the depression has started about a month ago, and I stick by it. I am not alone in these predictions either.
Don't forget, ministers and Government have been talking about recovery since the start of this year - so where is it? Not even a sign out there - despite the media's best attempts to 'make stuff look good'
So far I have not been too far off the mark with my predictions.
I am no genius, nor am I Nostrodamus - I have simply read a few Economic history books and Marx's Das Capital - far less than your average Economist - and yet my predictions are more accurate than theirs? - why is that?
They told you the war was for WMD's - and now it's clear it was for regime change.
They told you we were 45 minutes from Saddam's rocketry - and yet we weren't
They told you the cause of the crisis was from the US - and yet it wasn't.
They told you HBOS was passed to Lloyds as a 'going concern' - and yet we now know different.
They told you the crisis had been averted - and yet it's only just begun.
They told you there would be a return to growth - and yet there is none.
They told you they would kerb banking excesses - and yet they won't.
They told you they were in control and yet they never have been
You cannot lie your way out of recession.
I am clearly angry about the blatant lies from Government and a population which does not seem to be bothered about it. I won't get any satisfaction saying "I told you so" when I see poverty and disarray in Britain in the next 5-10 years....none whatsoever."
"I replied - I couldn't agree more" ... and added a link to all of his comments direct from this blog.