Tuesday, February 24, 2009

Gordon's bank bailouts: Round three

Despite having saved the world twice already, Gordon Brown has once again had to don the red cape to save us again for a third time.

With this latest £500 billion UK bank bailout, only five weeks after his already-failed second one, it's now just becoming a laughable game for the Blessed One.

Spending £1.3 trillion pounds on his friends in the City is such a hoot, that I expect Gordon will top the £2 trillion pound mark within just a few more weeks.

Why not? It's only other people who will have to pick up his tab. Or more likely the printing press.

With £1.3 trillion being approximately the entire annual output of the United Kingdom, even Gordon might be starting to get nervous right now. But like any gambler in a casino down on his luck, once you're in up to your eyeballs, you may as well keep going until your luck changes, especially when you can pass on what would be the equivalent of a full year's salary on a credit card bill, to other people's unborn children. (If they don't repudiate it first.)

You see, men must be governed. It's for their own good.

Which brings us to the strange case of LDV. The government did the right thing when it said there would be no bailouts for this struggling British van-maker. After all, why should I as a self-employed member of the tax-payer class, who is struggling to make his own business ends meet, be forced to shell out for another private company, so that they can continue making vans nobody wants, to rust in vast rented car parks? It is far better to let this company liquidate, to then release its resources to a better economic outcome.

But when a British government bleeds taxpayers to bail out banks to the tune of £1.3 trillion, but then refuses to bail out a major manufacturing plant to the tune of a measly £30 million, do they think that the hundreds of thousands of manufacturing workers still left in this country haven't noticed a slight discrepancy? Six thousand of them are about to be sacked by LDV. Another six hundred thousand of them could be sacked by the end of the year. And because all of the available capital in this country is being wasted on propping up zombie banks, rather than being available to invest in new manufacturing plants, all of these people could be unemployed for years.

So just what is Gordon up to? With the Labour party set to be wiped off the map in the next General Election, with many of its natural core vote switching to the BNP, what is going on? Bailing out banks so they will continue buying up government bonds is one thing, but alienating your entire core vote to do so, is entirely another.

There's something going on here that we're not yet aware of, which must be more than Gordon simply trying to engineer his own future as the Financial Dictator of a new world order Global Government, in some asinine Bilderberg conspiracy.

What is it?

No doubt we will figure it out eventually. Let us hope that this is before the situation of this country becomes unrecoverable.

PS> Apparently Guido has uncovered evidence of Gordon Brown also helping himself to taxpayer's cash in another sleazy 'expenses' fiddle. Yes, they're really all at it.

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