Saturday, 16 July 2011

The blind being led by the blind

If Politics Home, where their top ten political "must-reads" - 7 of those ten being about various aspects of the NI scandal - is any guide, it would seem that the blind are indeed being led by the blind.

According to the Adam Smith Institute website whilst the Public Sector Net Debt (PSND) figure is a staggering c£1 trillion, the latest data has focussed on two additional elements - public sector pension liabilities and the Private Finance Initiative (PFI). In respect of the former, the liabilities figure is reported to be c£1.1 trillion.

We have reports that the United States may well have its credit rating downgraded and that it could well default on debt repayment. Frances Coppola, who writes good financial comment in an easily understandable style, posts on "Flannel and ostriches". There have been many reports about the possible collapse of the Spanish and Italian economies, both necessitating bail-outs.

With the potential collapse of currencies which may well herald a second "Great Depression" the fact that our politicians have become so introspective to the point of not being able to see that which is in front of the noses is, indeed, an extremely worrying matter.

That the MSM can find little of a serious nature about which to write is illustrated with this article about William Hague backing David Cameron on an aspect of  "L'Affaire Coulson". Now, unless Hague fancied a quick return to the back benches, which to be fair is probably where his talent as voting fodder lies, what else would one expect Hague to do?

The fact that, no matter the subject, all the public receive is flannel from politicians and journalists exhibiting all the tendencies of an ostrich can spell nothing but ruination for our nation.


Oldrightie said...

it does seem a pretty hopeless scenario. maybe someone or something will pop out of the woodwork. A good dose of protectionism wouldn't hurt.

WitteringsfromWitney said...

Or: quite agree and come the crash you last suggestion.......