News: European News Features
It's Not Just About the Cost of Living, But Heading for Disaster and the Rocks!
by Alastair R Agutter (Publishing Editor) 6th December 2022
It was the Cameron Conservative Government that claimed to have all the answers. But from the outset I disputed that. But I did have one fear that I agreed with Cameron on, and guess what, it came true after Brexit, War in Europe again after 70 years of peace!
Growth, growth, growth was the call from the corridors of Westminster by Conservative MP's and the Architect seated at Number 10 Downing Street. They had a plan, well that
was a lie, but they did think they knew where the sacred financial cow resided, these protagonists I am referring too of course being; Messrs Truss and kwarteng. And so by unleashing the Banking System constraints and regulations, even bringing back Bankers bonuses, well hey job done! Truss and Kwarteng could just sit back and see the money just rolling in again, via financial services, down at Canary Wharf, making a bundle on market currencies, finance, transaction fees, and lending etc.
But I have some bad news for the Government, even though the loons are no longer in the asylum at Number 10 Downing Street. Bad news also for the great backbench beasts of freeloading in the Tory Party, the likes of Bill Cash, and John Redwood, who were determined to continue their way of life in Mansions, and enjoying the world of fancy accounting in sunnier climates, thus preventing the risk of having their collars felt by Lawful European Practices to make us stronger together, and to enjoy a far better way of life for all. But oh no no no, this couldn't happen. No, the fear mongering had to be exploited and goaded constantly for Brexit, all these foreigners taking our Jobs and homes. Well, we are not building any homes now, as all the construction workers from Europe have literally gone home. And regarding our economy, and over 3 million small, and medium businesses, who are on the verge of financial collapse from high rates and rents, including the crisis in the NHS as our biggest employer, as they are in desperate need for urgent vacancies to be filled, 170,000 of them in fact, and no workers for businesses either, as a result of all our European Brothers and Sisters going back home.......and so I say to all mindless idiots in Government, well done, well done!
The Muppets relying on banks and finance for growth, growth, growth having only bit parts in Spitting Image, and were only temporarily residing at numbers 10 and 11 at Downing Street for a few weeks, who put petrol on an economic smoldering fire, and have left many homeless and in poverty. Bad news I am afraid, just last week it was announced London is no longer the European Capital for Banking. As Bankers warned before Brexit, Banking and Finance operations would move to Europe, and today they continue to leave London, relocating in Paris, Brussels, and Berlin. And so the sacred cows are being shipped out to Europe where they will pay Tax and fill the European Union's Coffers.
What a bloody mess!
And today, I heard the announcement by Barclays Bank, that all new Business Accounts have been suspended by the Banking Organization. And so what does that mean?
Well, it means stress tests, it means we are in serious trouble as a Nation Socially, and Economically, and facing another major economic crash, and it could be as bad if not worse than the Great Depression and the Wall Street Crash of the 1930's. Yet again in recent years, no one has learned the lesson, banks were allowed to lend out large amounts to homeowners, creating Consumer Debt again, and against what, house prices that are over inflated, and where the experts are now saying properties could loose 20% in value overnight. Where was the investment into new business, green energy, user friendly businesses and lastly, but most importantly, investment into manufacture, the actual making of something, tangible products of worth. The fact of life and truth is; the money has not been invested, or lent by the Banks to Business, they took the easy root for short term profit, credit card debt, lending to consumers, creating another mountain of end user debt, and no one in the Government took the Banks to task, but just went along with it, and probably clue-less of the fact, or didn't want to know, as it was not in their future career interests or own prospects as MP's, for when they leave Government, and then taking up more greener lucrative pastures, with plans of securing a great position in Banking and Finance in the near future!
Labour may come into Government with all the best intentions in the World, and with a British Business Bank. But I never thought I would think this, let alone say it, I think this time it will be too late!