[Rant] Where is it all going to end?

Watching the News last night it was sad to see the scenes of the riots in the streets of Paris and hearing about the Greek farmers blockading the principle motorway for a week but I understand these people’s frustrations and I can sympathise with them (personally I’m worried as well).

Let’s face it the majority of the global economy is up the brown creek without a paddle. What is upsetting a LOT of folks (me included), is that the banks got us into this mess by just being too damn greedy and trying to make obscene profits. So what do our Governments do to try and fix it? Give them OUR money to bail them out to try and get them lending again as they’ve all brought the shutters down and have adopted a completely opposite approach of NOT lending money compared to last year when they were literally throwing money at people and basically getting them into debt.

Now not all of the banks are to blame and not all of them have taken the Government’s bail out to let’s be clear on this one. But has the bail out worked? No. All it’s done is keep the banks ticking over, paying bonuses to some of their already overpaid staff without getting the wheels of the economy turning again.

In the mean time industries are failing all over place, people are losing the jobs and even more in some cases so this approach hasn’t really worked now has it?

Why the Government didn’t think to give every tax payer a tax free lump sum I’ll never know. Had they done it would have been far more effective in my opinion as some people:

  • Will have spent it thus injecting money into the retail and other sectors such as the motor industry
  • Others will have opted to save it which would have put the money in the banks and helped them out
  • It would have cheered everyone up (hell we could do with some good news at the moment)

Instead we have this mess of people not being able to get mortgages, pensioners who depend on their savings to survive having to struggle even more, millions out of a job, a bleak outlook for pension funds and the Government now having a HUGE deficit which WE the tax payer are going to have to pick up whilst our banking “friends” are off counting their bonuses on some sunny island somewhere.

Oh to be a banker.

Read the complete post at http://wmug.co.uk/blogs/cliffs_blog/archive/2009/01/30/rant-where-is-it-all-going-to-end.aspx

Published Friday, January 30, 2009 7:58 AM by Cliff Hobbs - FAQShop.com and Microsoft MVP ConfigMgr/ SMS
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