The reason I haven't been saying much about the financial meltdown we've witnessed in the past few weeks is very simple. I'm not an economist, I'm not qualified to comment at length and frankly I think the nuts and bolts of what is going on are best left to others who are au fait with finance.
But nevertheless it is kind of heartening to watch the Sunday night News and hear the pundits predicting that this really could be the end of the Thatcherite consensus and the notion that markets can be left to go their own sweet way - with no control or regulation. We have even heard Gordon Brown criticise the City bonuses and greed which have contributed to this collapse.
Now maybe it is time for the Government to take a deep breath and commit to full-scale nationalisation of the banks and finance institutions - ie what we used to call "the commanding heights of the economy" not a bail-out which as far as I can ascertain is unfortunately playing fast and loose with taxpayers' money.
LEAP - the Left Economic Advisory Panel - is suddenly to the fore in all this commentary and an emergency rally is being held tomorrow night in the House Of Commons , Committee Room 10, at 7.30pm. More details on the LEAP blog. I look forward to hearing all about it from those who live rather nearer to Westminster than I do.
Sunday, 12 October 2008
IS THIS OUR CLAUSE 4 MOMENT....
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6 comments:
This isn't really a bail-out either... it's half-way and in between.
I've given the LEAP blog a bit of exposure this evening. From what I've seen, the economics there is more propaganda than thoughtful, but there are plenty of active left-wing economics bloggers, and the more scrutiny there is - and the more people's opinions are challenged - the better the quality of debate.
tramp the dirt down
boris johnson mayor of london is still calling for more deregulation
but then again his recent business advisor appointment does not even pay tax in the uk
now thats what I call business
capitalism it works well for the rich
"From what I've seen, the economics there is more propaganda than thoughtful"
You obviously haven't bothered reading any of it then.
You obviously haven't bothered reading any of it then.
I've left comments there, dur, surely your research has shown you that. I've set out my stall and eagerly anticipate a debate with the LEAP bloggers.
Labour has to keep the good life going otherwise why bother voting Labour, if people must return to the times before Thatcher them my god look out Labour, remember the eighteen years Labour spent trying to get back in due to the bad times of austerity, yes it was right yes it was the way to go sadly Thatcher have made us debtor and we now live in debt. When I was young if you had a car you were rich if you had two TV's you lived in a big house, if you had two pairs of shoes my god look out.
Now of course kids want play stations X box and anything else which goes with it, new cars, new TV's. The world has changed you try and return it to pre 1980 look out.
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