Manufacturing output in Britain fell in May by the greatest amount in three years. Meanwhile the economic forecast for next year has been downgraded, yet again, to 0.1% which, in statistical terms, is indistinguishable from no growth at all. It is reported that Spain's manufacturing output is now below that of Greece while unemployment across Europe is at 11% and climbing. It is a picture of unremitting gloom from Crete to Scotland, from Portugal to Poland and its getting worse while politicians chant "austerity" like a mantra and the banks plunder entire countries to make good the loses they made through their incompetent and reckless gambling. All this is a direct consequence of a literally bankrupt ideology and politicians more concerned about their personal fortunes than the good of their countries. As reported a couple of days ago in the "News in Shorts" a twelve-year old Canadian girl is the only voice of reason that has been heard so far and only one country, Iceland, has shown enough courage to abandon an economic system that destroys overall wealth and is designed to transfer what is left from the from the poor to the already rich. The world economy is bleeding to death while our leaders are still wielding the knife like demented serial killers. It is time to stop these madmen (and women) and to find a new economic order that delivers fairness if it cannot guarantee prosperity.
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