Friday, 22 July 2011

Banking Boiler Fit to Burst?

So the Eurozone leaders have decided on shovelling yet more money onto the fire within the banking boiler.

Common sense says the best option would be for Greece and all the other bankrupt Euro countries to drop-out, default and devalue. Instead yet more money is being thrown at the problem, a typical unimaginative middle-management response to the situation. Nothing radical that would damage the political project that is the Euro, nothing that would indicate a modicum of common sense leadership.

More money is thrown on the fire, never to be seen again. I said years ago that the global economy is highly overvalued and should never have been allowed to inflate to the extent it has. A slow, controlled deflation is the only option , not the constant stoking of the inflationary fire that continues to ravage our economies.

Ah well, it seems people never learn and our leaders will continue to show their stupidity and throw our hard earned cash at the people who pissed it up the wall in the first place.

I'd say bring the popcorn, take a seat and watch the show, except its hurting me and you while its being played out. This show is interactive: and its hurting everyone.

1 comment:

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