Friday, 10 January 2014
Recovery In Britain Still Non-Existant.
Despite the theft of Royal Mail, one of Britain's largest national assets, and George Osborne's efforts to re-inflate the property bubble, the economy remains stubbornly in intensive care. As the Office for National Statistics cannot help but point out manufacturing output is still flat with no discernible improvement over the last six months while the building industry is still in the doldrums. How can this be? In terms of the Royal Mail the reason is easy to see. A national asset that once added value to Britain's overall economy has been flogged off for far less than it was worth to a bunch of already wealthy crooks who have now stuffed their "profits" into the nearest available offshore account. Not only has much of the turnover from this huge industry been diverted into private hands and the money generated taken out of circulation, tax revenues have also fallen as the crooks who gobbled up the shares run off with their tax-free swag. With no improvement in manufacturing and exports Osborne's so-called "recovery" is revealed for what it is - a fairy tale based on a notional belief that house prices have grown, at least in London if nowhere else. The "recovery" is, therefore, restricted to those who own at least two properties, one of which can be sold while the owner lives in the other and one of which happens to be in London. What kind of person has two over-priced houses one of which happens to be in London I wonder? Of course such a person would be even better off if someone else, the taxpayer for instance, had bought both properties for them. But who would fall into this category? Surely not George Osborne, the architect of this "recovery", and his fellow conspirators in the Tory party? What a coincidence! What an unexpected windfall! What a surprise! What a bunch of crooks!