Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
The take-away point there is that central banks either don't understand the world economy or they're complicit with the predators.

While everyone is pretending that these investor attacks on sovereign political entities which we know as nation states are somehow the fault of the nation states themselves it's impossible to deal with the political reality of what's actually happening - which is that a gang of thugs with baseball bats is kicking in the windows of democracy.

This is an extended economic Kristallnacht. It's soft violence-by-spreadsheet rather than hard violence with a fist to the face. But it's still criminal violence, with immensely destructive consequences - and not the genteel debate about financial niceties that it pretends to be.

Here's a useful graph of UK insolvencies. (The downtick last year was the result of new legislation which created a simplified pseudo-bankruptcy process for certain debtors.)

Considering that Osborne's plan seems to be to move public debt to private households, the next few years aren't going to be a happy experience for many people.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Tue Apr 12th, 2011 at 07:49:40 PM EST
[ Parent ]

Others have rated this comment as follows:

Display:

Top Diaries

A Swedish government appears

by fjallstrom - Jan 16
6 comments

What happens now?

by IdiotSavant - Jan 15
66 comments

Too little, too late

by Frank Schnittger - Jan 12
83 comments

A TITANIC success

by Frank Schnittger - Jan 7
36 comments

Perils of a No Deal BrExit

by Oui - Jan 7
112 comments

Review of 2018

by Frank Schnittger - Dec 26
43 comments

Occasional Series