London Falling: Like a Man Eating Its Own Leg

London Falling: Like a Man Eating Its Own Leg

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Godrey Bloom, member of the European Parliament is being interviewed by RT and commenting on the current economic situation in England and predicts the situation to be getting significantly worse.

(visit the link for the full news article)

Not sure if this has been posted before. If it is please connect to previous story.

But seems like things are looking bleak for the British. What are the people here thinking? Is he spot on?

Is it a bit exaggerating when he says the situation is likely to get worse??

Please elaborate and add your own news articles.



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(visit the link for the full news article)

I can't really elaborate on your post , but after speaking to many of my work colleagues , the general feeling is that we are all totally fed up of being taxed on almost everything while at the same time having to support free loaders . We see nothing in return , because a minority are soaking up our resources and this CAN'T continue !

reply to post by tpg65


Godfrey says something around the same lines, that when the banks are going to go down again, it won't be right to ask the tax payers to bail them out. I had no idea this was even necessary.

"London Falling: Like a Man Eating Its Own Leg"

i believe it should be "his" not "its"

is this a clash tune?

All this reminds of me Animal Farm. Fat little pigs at the top nicking all our feed or money if you like. I often wonder how far the UK elite can push the people of Britain before we actually start to fight back?

The M.P. is correct and is part of the problem ! the country like many others is bankrupt and the answer is just invent more money,give it to the banking sector, the very sector that started this crazyness in the first place while the Government can carry on spending any money it can get its hands on
Does anyone know who owns the bank of England? This quantitive easing is simply the other side of the "leverage" coin.A scam that got us into this mess How can a bank lend 40 times the money it has on its books and yet that is exactly what they did
So legalised fraud started this mess and quantitive easing perpetuates it
We must get back to manufacturing to balance the books we must learn that we cant sustain the life style we have been used to without paying for it. take the olympics as one instance, a non productive jaunt for non producing people all centered in London built by mainly impoted workers and imported steel/consruction hardwear paid for by all the U.K on the never never That money could have been used to help expand the failing private sector which at the moment is left fending for itself as no banks will help whilst they are desperatly using the quantitive easing money to balace there corupt books
Talking of corruption does anyone car anymore that the Eoropean Union "books" for spending have not been signed of for over nine years as no accountancy firm can agree that they add up
So in summery Yes Britain is Buggered and yes things are going to get a hell of a lot worse

I think banks across the world are suffering as they hold debt. The debt is both soverign and consumer.

The press now hang off the word of these Credit Rating Agencies e.g. Moodys, Standard and Pisspoor et al, but there seems to be a reluctance to report that these very same institutions FAILED to see the problem US derived securities which were the catalyst of the whole global financial mess. Had Moodys been doing their work properly then these very same financial products would not have had their blessing.

In the context of the UK, the main reason why Moodys has downgraded the banks is because the UK Government is probably going to separate banking risk, meaning they will not bail out the parts of banks which fail because they have not managed risk properly.

Personally, I welcome this - the propose changes to the banks in the UK, that is.

Regards

the 1929 wall street crash is too far back in history now, which is why, once again, it is being repeated, stock market computers need an app to remind those block heads what happens when you borrow money you cannot pay back to buy share in something that has no value.

Originally posted by tpg65
I can't really elaborate on your post , but after speaking to many of my work colleagues , the general feeling is that we are all totally fed up of being taxed on almost everything while at the same time having to support free loaders . We see nothing in return , because a minority are soaking up our resources and this CAN'T continue !

'freeloaders' being investment bankers, yes?

Originally posted by MrHappyman989
All this reminds of me Animal Farm. Fat little pigs at the top nicking all our feed or money if you like. I often wonder how far the UK elite can push the people of Britain before we actually start to fight back?

Not sure if its a good metaphor, because 'Animal Farm' was a parable of the Russian Revolution and how revolutions are betrayed. It's not simply a matter of making capitalism work again, but questioning the entire system of free market economics. Are we ready for that?

Iam not an economicist or a big brain type..I type slow.

But how many have pondered the possible connection between off shore out sourcing of European companies to India/China and the negative balancing of EU nations books/

How much capital has been offshored?

How much income from manufacturing ect has been redirected ?

Traitors run Britain/Australia/Europe....no wars anymore..just offshore gain to be had, they don't kill their own anymore..just impoverish them to make the next billion.

reply to post by Dr Expired


I agree on the financial treasonous behavior of the super rich in this country. They would never have been able to make their fortunes had it not been for generations of British tax payer providing the infrastructure defense and education of a nation. Yet now they are rich they feel they can avoid paying tax and contributing to the nation, just keep taking and expecting more.

reply to post by tpg65

I can't really elaborate on your post , but after speaking to many of my work colleagues , the general feeling is that we are all totally fed up of being taxed on almost everything while at the same time having to support free loaders . We see nothing in return , because a minority are soaking up our resources and this CAN'T continue !

reply to post by tpg65


It goes deeper than that though... It’s so easy, when you are in a job, to refer to others as freeloaders. But the reason that there are so many un-employed (and even an underclass of permanently unemployed) is due to a few factors... One of them being...

Britain used to be an exporting nation. We produced Steel, Coal, Gas, We had a massive Agricultural industry, made our own cars, shipping, airplanes, and our docks were thriving... This is all dead now. All of those jobs have been eroded over the years and this has left a massive whole in British society. However, it is mainly the working classes that this change affected... There were still office jobs, doctors, banking, service desks, call centres etc... in fact, the middle class jobs have probably increased...

For a working class kid to get a job in these industries is not impossible (i did it) but it is a lot harder than getting a job in a factory or down on the docks!!

These jobs are more suited to the middle classes and so, over the last 40 years, Britain has become fragmented... With many of the middle class "Daily Mail" readers looking down their noses at the "benefit scroungers" and the lower classes slowly turning into apathetic or pessimistic no hopers who have adapted to living on the low income of welfare. Sadly this has increase criminality, as people look to supplement their income, and also an increase in the erosion of self respect. All of this, and many other social issues/problems I have not mentioned here, leads to the problems we see today!

I have a lot more on this but my wife is calling me because we are supposed to be going out... oops

Just my thoughts on this issue... so far...

Peace

Originally posted by woodwardjnr
reply to post by Dr Expired

 

I agree on the financial treasonous behavior of the super rich in this country. They would never have been able to make their fortunes had it not been for generations of British tax payer providing the infrastructure defense and education of a nation. Yet now they are rich they feel they can avoid paying tax and contributing to the nation, just keep taking and expecting more.

Some wouldn't countenance the idea of working nad profitting by their own sweat.
They employ many by only aportioning a small fraction of their profits to wages.
They would make no profit if they had no work force , but still they are always reluctant to increase their employees wages.
Lest they actually become secure financiallyand shop around for a better deal , nah keep them working as if they could be on the street tomorrow.

The stupidity of us all (workers) is we allow ourselves to be employed...if on mass we refused employment, until we made up 60% of the turnover not th e10% ...we would be free of the slave wage reality.

Of course the elite/rich would probably release a few atomic bombs to zombie us out once again.

But imagine the whole nation refusing to do anything until the mega rich become just wealthy.

First off, the whole world is in the same situation.

Greece is really bad, spain and itally aren't far behind.

The united states is one big *SNIP*

Canada is doing alright but not great.

China has to keep producing jobs or it will fall into the same mess, it's barely keeping itself up

Japan is in huge trouble, as well as the Phillipeans... lots of food troubles

Australia is bad...

So it's not a class thing. It's way to big to be just the poor holding down the less poor.

And everyone saying that the answer is to get back into manufacturing.. I mean seriously, the dependance on consumption is one of the problems that got us into this mess (Obviously along with financial self implosions)

Look every country can't manufacture, but there has to be something new to take it's place.

A good bridge is develloping the alternative energy sources. It would creat jobs for awhile while we figure ou how to devellope a new economic idealism.

Just my 'penny worth' while we still have them!
I'm on my way out to withdraw the balance of my weekly monies, as I have done since last Christmas.
My feeling is, as I am no 'economist' or 'financier' etc, is 'they' are determined to erradicate the middle/working class worldwide, ending up with a them and us situation.
Please folks don't fall for the propoganda they are spreading about 'freeloaders'.....that ammount of peoples hasn't really changed, it is being bandied about and promulgated just to antagonise and create dissent within our ranks.
I envisioned this situation many, many years ago, and I said then, as I am going to say now......everywhere we look people are out on the streets voicing their fears and worries. There is only a teeny bit of this going on here, but when UK citizens join the world wide foray the UK will go big style as we are the emotional heart centre of the world....you then watch how the UK citizen wont just stop at taking over LSE....they will be after blood! If I were a UK banker or MP....I would be making preparations to run for my life.
Just saying
Rainbows
Jane

Originally posted by MrHappyman989
All this reminds of me Animal Farm. Fat little pigs at the top nicking all our feed or money if you like. I often wonder how far the UK elite can push the people of Britain before we actually start to fight back?

And what Mr hippyman do you suppose all the fat little pigs are doing with the money they have 'stolen' from you?

Are they eating 100 meals a day? - are they living in 20 houses at once?, wearing 50 suits? .

If a richman pays £200 for a bottle of wine, or £2000 for a theatre ticket, does that make you poorer somehow?

I suggest what is making everybody bankrupt is the 50% or so who lead unterly unproductive lives whether as welfare freeloaders, criminal scum, or the whole bloated public sector PC gravytrain.

Silly question, but was the U.K. affected by the crash of Wall street in '29?

If so, how much?

There IS a problem with the economy in the UK. A significant portion of our current troubles wouldnt exist if the rest of Europe wasnt so screwed at the very same moment, but of the causes and solutions to the trouble we have that is NOT caused by European idiocy , here are some home truths.

Theres nothing wrong with the benifit system , that hasnt been MADE wrong to make the scheme unpopular. Government, wether Labour or Conservative, have been making it harder for the MAJORITY of people (who are in low paid work, cannot afford thier own home to live in, are at the mercy of crap councils, awful housing schemes, and deprived circumstances, and generally get on with it regardless because the alternative is the dole, and/or starvation) to live free of government assistance for years, while blaming the unemployed and low paid as a whole for the money that is being sunk into thier support.

However, it is not the unemployed, or the lowest paid, who cause the closure of businesses, or who make the corperate level choices that result in mass market upsets that destabilise banks. These choices, the circumstances in which our nation finds itself financially , are the responsibility of banks who let thier hubris outweigh thier talent, and the responsibility of a government which unlike every other in Europe, does not support its nations business institutions.

The purchase of Cadbury's by that awful yank outfit Kraft, should never have been allowed to go ahead. Its bad enough that Cadbury's, a British brand ICON, will now see the large majority of its revenue pumped into someone elses economy, but they closed a plant that was supposed to be ring fenced, within months of the purchase going through. This meant a large number of people being made unemployed, which puts a further strain on the economy, which was already being stretched by the idiocy of banks and government, both of whom seemed and still seem hell bent on wasting our money on nonsense.


Similarly , when Bombardier (a British supplier of commuter trains) and Siemens (a Europe based company) went for a contract worth 1.4billion pounds, the government chose Siemens over Bombardier, which , logicaly , is counter to the governments apparant aim of supporting British business. Why not keep that one point four billion, in the British economy? No other nation in Europe would have even dreamed of allowing that revenue to escape its borders. To think otherwise is foolish, since you can have a good hard look at procurement for most sectors on the continent and see most nations keeping what they can in house so to speak, and too right as well. Its the responsible thing to do when looking after a nation .

BAE systems recently closed the doors on one of the oldest aircraft and defense manufacturing sites in the land, making huge numbers of staff redundant , and taking the guts out of the town in which the plant lay. In the months, and years ahead, if nothing is done to prevent it, the entire economic structure of that town will decay and collapse, having had eighty percent of its earning power taken out from under it, and the other twenty percent realising that there is no one to sell anything to now, since all the plant workers have had to move away. It will be a town where the vast majority will have no source of income within three years, unless something comes in to replace the loss of the BAE site.
None of this would have happened if the Strategic Defense Review , which the government carried out, had not insisted on scrapping the upgrade program for our Nimrod aircraft, which appart from being a pretty familiar and vital piece of kit for the military, was keeping that plant working.

The real problem in this country , is that the people who make the choices in government have no idea what the consequences of thier actions are going to be, before they make them. They make all these pontificating speeches, about wanting a fairer nation, a more prosperous nation, and then they stick a knife into its guts, twist, look the nation in the eyes and smile, and we are supposed to wonder why we are in the crap up to our necks? Along side that , we have a big business culture that strangles small to medium size businesses to prevent those smaller outfits from providing a decent level of service, by using thier buying power to price hard working people out of thier aspirations to start, or continue to run a business themselves. This makes it harder for communities to improve themselves, by centralising all revenue from a certain sector into a small number of big companies, rather than being spread around several thousand small ones , dotted around the place.