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Thursday 15 December 2011

The Eurozone

I can't remember a time quite like this in my lifetime. There have been times of great political upheaval - the miners strike for instance. There have been times of great austerity - the three day week, when the lights did actually go out. There have been times when I have genuinely thought that we were on the brink of a major conflict - the Bay of Pigs.

But never a time when I felt that the political leaders simply didn't know what they were doing - didn't really have a clue what the solutions to the problems were. Probably didn't really understand the problems.

Yet they still feel the need to trade insults with the opposition, whether another party or a different sovereign state. They still think that we are persuaded by braggadacio & posturing. They so underestimate the intelligence of the public. We know that things are seriously wrong. We know that there aren't any simple solutions. We don't expect them to have all the answers, but we do expect them to "know someone who does".

I have completely lost faith in governments & the coalition. There are undoubtedly genuine politicians who are there to try to do a good job & make long term decisions for the benefit of the people of the country. But I'm hard pushed to name many. Meanwhile time is running out & everyone in the world is being affected by this crisis. The longer it goes on & the deeper it gets the worse the impact will be. If I were in as much comparable debt as countries are I would be jumping off the nearest high building!

The way the system is designed both in the UK & in Europe is no longer a true democracy. The systems themselves are so complex & interconnected that I think we may have reached a stage where we are almost ungovernable by consensus.

Someone needs to get a grip & soon.  I'm not a financial whizz, but even I know -Printing more money won't work - Being isolationist won't work - Spending more or borrowing more won't work - Relying on anything other than producing goods that people all over the world want to buy won't work.

It's basic household management. In order to spend you have to earn. Bring in the women who manage household budgets - maybe they can do it.

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