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Thursday, 19 March 2015

Even More Worrying

One rather hopes that politicians always know they are lying, then we know what game they are playing.

But I have an eerie feeling that Gideon our Chancellor of the Exchequer really believes that the basic economic data are favourable for the United Kingdom. He bases this optimism especially on the facts that the Gross National Product is increasing at around 2.5% this year, and that millions of people are doing very low-paid jobs.

Neither of these items is actually good for the economy, or for the people who depend on it.

The gross national product is merely the guesstimated total of transactions in the country: so it is immaterial whether the products that are sold are British made or imported. Provided more is traded at rising prices, or yet more at constant or falling prices, the GNP goes up. So the more people are employed to unpack and to sell imported goods [or to fit imported nail designs] the more GDP and employment go up. But when imports exceed imports by more than 6% of the total national income, as now, that means that a sum equal to 6% of the total reported turnover is owed to foreign producers.
This deficit must be clocked up as additional external debt - on which we have to pay interest - or used by foreign investors to buy yet more control of British companies [whose customers thereafter have to pay tribute to the foreign owners of those businesses]; or dwellings in London that are mostly unoccupied. Either way, in addition to buying more than we import, we have to pay more every year for what was borrowed or sold out in the past. So every increment in the GNP at present increases the country's indebtedness to aliens.

In addition, much of the purchase money for imported goods is borrowed within the UK: so private debt is increasing. Private debt is further increased as people borrow to fund house purchases at rising prices. Increasing proportions of exiguous wages are dedicated to debt servicing, and every added restriction on lending to the poor further reduces their aspirations to enjoy anything like the lifestyle they see others enjoying on the telly.

Furthermore, as had been emphasised by all opposition politicians [including today the LibDems], the national debt to fund government spending within the UK has increased under Gideon's supposedly brilliant custodianship.

So personal debt is up, domestic national debt is up, and debt to aliens is up: and the net result of five years of deleterious reductions of many public services is a disaster. Of course, some areas of government were ineffective and inefficient: so austerity in those areas served the taxpayer well; but the overall net result of cutbacks in the public sector has done nothing to mitigate the economic scene while it has notably devastated the social system.

If it were not so ruinous to the economy in the medium term, one could merely lament Gideon's adherence to the nonsense Economics that he was taught as a student. But as it is so utterly devastating, his delusion will not save him from a reckoning.

Tuesday, 10 March 2015

The Sale of 'Justice'

The barristers are in a tizz because they recognise that the pattern of available work is being changed by the reckless policy of cuts being imposed by the government. In particular, they argue this week that the severe reduction in the availability of legal aid for civil cases [cases brought by one person or business against another] has almost completely been removed from smaller-value cases. This means that neither side can afford to employ a barrister to take the case to court: and the barrister profession as such calls this a denial of 'justice' to the litigants.

I can have no sympathy with them, as long as they harbour in their midst the sort of despicable character that attempts, in court, to blacken the characters of abused children as a form of mitigation for the appalling abuse that the defendants have undeniably committed. A recent case in Oxford Crown Court was darkened still further by the fact that one of the barristers who used this defence was a woman. This disgrace to the human race was defending in a criminal case, so her remuneration was provided by the taxpayer. While this is considered by the Bar Council to be acceptable conduct, the population should display utter contempt for the entire profession. Of course the tenants of the most expensive chambers in the Temple would never take such cases, and thus would not be tempted to use scurrilous tactics; but they do not act to elevate their lesser brethren from the mire in which they choose to wallow.

The sooner Britain's outrageous confrontational courts system is abolished, the better!

Wednesday, 4 March 2015

Gideon Sells More of the Family Silver

The Chancellor is greatly pleased with himself: he has been to some degree instrumental in selling the government's block of Eurostar shares. Of course, a major tranche of those shares are allocated to a Canadian pension fund. The rest goes to equity investors who will either sell to aliens or sell to Brits who will, in due course, sell to aliens.

He purports to believe that such actions are good for the country. They bring in cash, which he can waste on bread and circuses for the masses. Then the foreigners own the assets, and we don't.

This is just a tiny example of the gadarene rush to despoil the country of its remaining assets. Each such sale pumps a bit of cash into the country, until in the course of circulation it is used to buy imports: then the consumption of those imports is the final destruction of the wealth that was alienated when the capital assets [including, in many cases, intellectual property] passes out of British hands.

It beggars belief!