Whither The Battered Economy

Because I have some financial and business background in my early life I have been increasingly astonished, not to say angered, by all the devices that are being uncovered in what has been a casino [still is, I fear]called the financial sector.

The various government supports in response to that industry’s yells of ‘Feed Me!’ have shown the truth of the old saying ‘Owe a million and get an honour, owe a thousand and get put in prison.’ Except these days no respectable honoree owes less than a billion!

You know the film, don’t you? ‘Feed Me!’ gets fed by all those who owe it nothing, and it gradually takes over and destroys everything. This seems a good analogy for the financial sector – certainly since the early 1980s.

Now it seems, through government action, we, our children, our granchildren and on are going to be paying off the gambling debts. Indeed that sector appears fully in the tradition of the rake who, on inheriting the family fortune proceeds to gamble it away, as well as the lands, the building and possibly his own grandmother.

I am not encouraged either by the G20 meeting or its statement. In brief it seemed to say ‘our answer is more of the same even though we know it isn’t working… …And we are putting off the hard decisions until another generation of politicians comes along’.

And no, I do not think President-Elect Barak Obama is that new generation in this sense. If you look at his advisors who have been drawing up his plans you will see how heavily finance and business oriented they are.

By ‘new generation’ I think I mean of economic thinkers. My personal view is very revolutionary – and for someone who tends to be small ‘c’ conservative that is saying something!

I believe the fault lies with the structure of the company. It lies far outside democratic process, yet it is so easy for the larger ones and the corporations to affect our lives in the most personal ways. Our jobs, our communities, our very environment and our world. Oh yes, and our finances.

Plan as we might, understand the dangers to the future of mankind as much as we will, all protest is frustrated by the big business power to buy influence and to drown out protest. It is not the format of George Orwell’s 1984 but it is most certainly his concept of Big Brother!

Can you go anywhere without being on CCTV? As things are shaping even your iris will be on a database – ready to be accidentally ‘lost’ and for sale. Or even accessible to so many that it can be easily hacked.

The foundation of the company lies 400 years ago, with the first Queen Elizabeth. Four worlds ago and for a completely different purpose.

Do we, this time, just want to patch things up again for a third Depression in 80 years time?

Joseph Harris

Debt Control Man

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2 Responses to “Whither The Battered Economy”

  1. Whither The Battered Economy | debtdeficit.com Says:

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