Thursday, 5 March 2009

The lunatics have taken over the asylum.........

So the UK bank interest rate has been further 'slashed' to 0.5%

And the Bank of England are printing £75 billion (so called quantitative easing........whatever the blazes THAT means)to boost our flagging economy.

I'm the first to admit that economics is not my strong point. But even I understand that in the current climate my careful savings would have more chance of growing if I planted them in the garden.

Savers are being thrown to the wolves, pensioners are seeing their pensions shrinking, yet the banks and bankers, who are mainly responsible for the godalmighty mess are getting massive cash injections and even bigger pensions.........I mean £700,000 A YEAR!!!!!!!! It would still be obscene even if Fred Goodwin had done a half decent job. But he steered RBS to the brink of collapse and now billions of pounds of taxpayers money has been requisitioned to plug the hole. Still, ol' Fred will be fine and dandy sitting on his £700K a year, bless him.

I'm a lifelong socialist, and in the past have been a card-carrying member. I am passionate about social justice and people getting a fair crack of the whip. But if a general election was called tomorrow, I don't think I could bring myself to vote Labour, even though my politically motivated family would be turning in their respective graves.
However to be honest, I couldn't bring myself to vote for any of the other jokers either.

And since when was printing money a recipe for success...........

5 comments:

smilernpb said...

I somehow don't think that printing money will be the answer to all the problems either!

Karin F. said...

Over here in Canada, we have some banks actually raising rates because "it's costing too much to do business"!!
....and Obama, sure isn't the great black hope that everyone thought he'd be. Canada unfortunately is in bed with an elephant, USA. When they roll over, we're in trouble.

tattyhousehastings said...

Actually I'm blown away by it, and its silly name. Seems too simple, so they named it quantative something to make it like science innit?
Who knows what it all means?

depesando said...

I'm gritting my teeth, keeping calm and remembering my parents counting pennies out every Friday on the dining room table to cover the next weeks expenses - and promising me that I would never have to do the same..... if only.

tattyhousehastings said...

p.s. New minature/dolls house shop opened in George Street yesterday - did not go in due to pesky children, but loved the window display! Could not decide it it was same one from town centre??