Friday, 10 December 2010

A sign of things to come ...?

Police lines created to ensure tuition fees are tripled (despite all the protests)

The "Royals" - caught out, caught up, and looking at the road ahead ... ?

As the Government voted to triple student tuition fees, anger amongst the young bubbled up, a fellow blogger pointed out ...

"I reckon that most students protesting don’t really understand how the system works.

With all money (notes and coins excepted) being created as debt bearing interest, and more debt being needed to satisfy repayment of existing debt + interest, either there has to be more debt or deflation and debt default must occur.

The system is inflationary and requires an increasing level of debt to survive in its present form, but there’s a problem:

1. The hopelessly indebted will borrow till the cows come home, but can’t pay it back.
2. The modestly indebted could borrow, but are nervous of their economic future.
3. And the prudent won’t borrow per-se because they see it as the road to ruin.

Enter the poor student ... The system needs new debtors, and what better way to get them than sucking in the young with student loans. And if the system needs more money (debt), then raise tuition fees."

The banks created the crisis (and debt), were bailed out by the taxpayer, and continue to reward themselves billions in bonuses.  To generate more debt, the banks need more victims (and ones more likely to be able to pay it back) ... so the Government slash University teaching budgets by nearly 80% (over 3-4x the level of cuts to other public services), remove EMA for 16-18 year olds, and force students (the future generation) into becoming those debtors (to the tune of £40-80k)!  

Future generations will not forgive the perpetrators of this crime ... or those who renege on their election promises - so IMHO we will now see the Liberal Democrats heading towards the wastelands, along with any chance of real electoral reform  ... and for all the conspiracy theorists this will appear to be a cunning Conservative plan successfully completed!

But can the Conservatives be happy ... well no, not really ... as the politicians who are probably enjoying this the most are Labour, as they see themselves as the beneficiaries of all this at the next election, when both sides of the coalition are forced out of office for failing to deal with the mess (that Labour itself created)! This did not have to be the case, but the coalition are currently letting off/rewarding the guilty (i.e. the bankers) and punishing the innocent (i.e. future generations/hard-working people) ... which make previous comments by Mervyn King (referring to those voted into power in the 2010 election being subsequently out of power for a whole generation) more and more relevant!  

Whilst this may be the beginning of the end for the Liberal Democrats, IMHO it is not the beginning of the end to all the objections, protest and anger ... as the tuition fees debacle has a long way to run, and this is just one of numerous unfair, unjust and unpopular proposals/cuts the coalition are looking to force upon us ...