Friday, 7 October 2011

People need money so... lets give more money to the Banks!

The logic of the government is puzzling. Business activity in Britain is going down, the economy is not growing and more and more people cannot buy essential items because their salaries (if they have an income) are not going up and prices at the shops are being increased on a weekly basis. So, what does the Bank of England do? They give more taxpayers money to the Banks. Rational, isn't it?

Who made the decision to increase QE (now known as QE2 - quantitative easing, not Queen Elizabeth the Second)? Chancellor of the Exchequer George Osborne. QE is going up from 200 billion pound to 275 billion pound. The Chancellor said 'that QE was an appropriate tool with which to address the deterioration in economic conditions".

Sorry, George. The deterioration of economic conditions is not due to Banks that do not have money. We, Joe Public, don't have money because we are losing jobs, our income is not going up and prices at the shops have skyrocketted.

Sir Mervyn King said that the economic crisis could be worse than the Depression of the 1930s. A UKIP representative interviewed by Russian Television said that there is a danger of going back to the 1930s. Well, we are in 2011 and now is the time to take measures to create jobs in Britain and to re-patriate hundreds of thousands of jobs that were 'exported' with the so called 'Globalisation policies'.

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