Poppycock to Gordon Brown & Alistair “Captain” Darling Bailing Out Banks Still Further
posted in A Moose's Life |
Gordon Brown & Alistair “Captain” Darling (Blackadder Goes Forth), so called strategy to recapitalise Britain’s banks and get them lending again, which has been copied all over the world, has not worked, and what’s more disconcerting is that the Treasury’s “cunning” Plan B might simply be a replication of the failed Plan A. Like clueless generals sending hapless soldiers (general public & small businesses) over the top from the relative safety of the trenches towards the inevitable result from incoming shells & bullets.
Seriously, does anyone think that lining the coffers of banks still further, is going to leverage them them into lending again .. I wouldn’t bank on it … These Pontius Pilates seem to be crucifying the rest of us by pocketing the dough to save their own sorry backsides instead of assisting Joe Public and / or small businesses. A number of banking institutions haven’t even passed on the full interest rate reductions (The recent half percentage point reduction brings interest rates below 2% to 1.5% for the first time since the Bank of England was founded in 1694). Let’s not forget the majority of savers whom too have been affected by banks, making scrooge looking like a spendthrift.
As for the current temporary VAT reduction, well I don’t know whether to be bemused or laugh so much that my spleen wobbles.
A senior “adviser” to chancellor Alistair “Captain” Darling insisted that lending shouldn’t be taken as the sole measure of success: “Plan A has not failed, because the banks are still standing.”
Huh … but at the expense of who & what .. so a juicy fat raspberry to that comment!
Although UK banks are open for business, Britain is still facing a lending drought with banks & building societies continuing to reduce the amount of credit available to businesses & would-be homebuyers.
This has left Alistair “Captain” Darling with a gambling dilemma, does he stick or twist by throwing / chucking more money at the banks, (who haven’t really assisted economic recovery) effectively admitting that £billions of taxpayers’ money wasn’t enough, or does he wait (stick)?
No ! No ! No ! No more money for banks, please.
“I have come up with a plan so cunning you could stick a tail on it and call it a weasel.” – Blackadder
Instead, as I suggested said before … reduce income tax & corporation tax, even if you have to maybe reduce public spending temporarily. this will at least put monies into employees pockets & improve cashflow of small businesses (even survivability). That way the economy can find a natural “real” equilibrium, with the increase of net income in peoples pockets, they can wisely decide whether to reduce or eliminate any existing debts they have, spend to revive the retail industry or save. Though I do wonder if savers will start seeking more attractive rates overseas or take riskier options with buying shares in markets they might be unfamiliar with, then what would the financial institutions do in the UK.
This will hopefully get everything & everyone Thrifty. (Definition Below)
1. Practicing or marked by the practice of thrift; wisely economical.
2. Industrious and thriving; prosperous.
I am no economics expert, but the above is just common sense. If I put my hat in the ring again, why do we have National Insurance & Tax calculated & paid seperately. Why can’t they be merged? That might save a few bob.
Alistair “Captain” Darling has got to stop relying on the banking regimes to assist in any economic recovery, any more charitable donations (of which is effectively public money) to the banks would be a public & political humiliation. Risking public money by gambling at russian roulette will bound to explode in his face. (singeing those eyebrows might well do him a favour)
Alistair “Captain” Darling saviours ARE / WILL BE the discerning public, where Alistair “Captain” Darling should literally tell the banks to “Goe Forth & Multiply” and place his trust in the UK public by reducing income tax & corporation tax, which in itself will be a huge vote winner.
Will Alistair “Captain” Darling listen to the public? … well … once again there goes the oinky sonic BOOM of another pig flying past the window.
PS Someone tell Alistair “Captain” Darling too sort out his hair & eyebrows, he looks like a photo negative (for those that don’t have digital cameras). I guess it characterises an undecisive politician who doesn’t know whether to dye his hair or eyebrows to match with his economic decisions which are leaving SKA’s. (deliberate spell variation).
