Daily I listen to the radio and in the evenings usually manage to catch one of the many, news related programmes; one thing which seems to permeate the entire spectrum is the desire to re-assure the listeners/viewers that things are turning around. Be patient and the troubles of the recession will be behind us, a brave new period of growth awaits us!
I hate pessimism and have always tried to look on the bright side, I am a half full person, my wife, I joke, is the opposite, but opposites attract so that seems fine. However the media is dealing with NEWS not current affairs, so the endless suggestion of green shoots, house prices rising, stock market growth ‘et al’ make for a fantasy world. We got in this mess because of profligate borrowing and credit based consumer demand along with the criminal practices of the banking fraternity, not mentioning the sheer dumbness of this government; still in denial of any implication in the whole mess. Now the same dumb ass politians are looking to offload a number of assets at the virtual bottom of the market! It beggars belief.
Recently I have come across an excellent blog by very a accurate dissecting economist from Imperial College, London. Read his posts to learn how this whole mess was created. Join the band of disgruntled voters who want to see some proper action, like litigation against the perpetrators of this economic debacle. Go now to Greg Pytel’s site, Finacial Crisis? It’s a Pyramid, Stupid.
p.s. My daughter, Pip, does the 3D images, the “nibbled” pound is just one of her works! Get in touch if you would like to discover more.
Thanks for the emails offering support to the argument that Greg has set out in his blog. But don’t forget you can leave an answer here and let others know your views.
Regards
Brian