Today the FTSE 100 closed at more or less the midpoint between its all-time high at the end of 1999 and its lowest point in 15 years. As the economic outlook is not too rosy for the short term, which way will the market be going from here? Well there are bound to be some purple patches, but downward would seem like a reasonable bet. This is a disaster for workers and their dependents, school leavers, those leaving university, savers, those coming up to retirement, and those depending upon interest for retirement income. In fact it is not good for anyone. I recall some rubbish talked about preventing a return to a boom and bust economy. The trouble is that hot air came from Gordon Brown, who can now settle into comfortable retirement at the nations expense, along with that other money grabber Tony Blair and their friends. Through incompetence and self-interest these people made fools out of the people of this country. I am amazed that anyone voted for them at the last election. I suspect they have done more to create a class of takers than any politician before them. Massive debt, the hugely privileged useless public sector, and pointless wars are their legacy. Let no one forget it.
Naturally, those people who created this economic disaster will not have to worry about money. They have awarded themselves nice big indexed link pensions for life, as well as a nice exit bonus for their trouble. And we should not forget the large amounts they decided they should help themselves to, for just about anything they wanted really. Do I have much confidence the new lot of self-serving fools will do any better for us. No! Until we get rid of politicians we will always be destined to repeat this folly.
Lords are leaping
Monday, May 17th, 2010It sounds like an episode of Blackadder, but there will be 707 Lords to help the new coalition get its way.
Question: How long does it take to get a system that works?
Answer: Longer than the existence of politics.
Tags: Blackadder, coalition, Lords
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