Thursday 6 January 2011

A new year's revolution...

Well maybe not exactly a revolution but I really do think the coalition will fall apart this year and probably sooner rather than later. Not soon enough to limit the damage of course.
Those of us who believe that the crisis we face was created by the banks far more than New Labour and that the worst of it should start to clear if and when the banks demonstrate the sorts of skill, endeavour and success they keep paying themselves bonuses for. Just today I saw someone blame Labour for an alleged £4.8 trillion of debt. Since no such debt existed before the banking disaster they have done really well to run that up on their policies alone in some two years!
Of course a lot of it isn't really debt anyway - it is the worthless shares we had to buy to stop the banks collapsing. They are yet to return anything like the value we put in but it will happen in due course.
On top of all that the stock market has just had a good year. Stone me, the nations is reeling until the pips squeak and the FT goes through 6,000! Again! Anyone old enough to recall the 70s share phenomenon will forgive me for calling this the Poseidon effect! Some people will bet on anything and sometimes they win.
Now quite apart from the cuts hurting children, the poor, mothers and the elderly and disabled there has been another cut - in support for the Lib Dems. As I write the good people of Oldham will be withdrawing their support for Clegg and co and handing either a black eye to Labour or the Tories. Interesting that Clegg has decreed there will be no election pact with the Conservatives. Bet they are glad - they couldn't afford the handicap!
So what will 2011 bring us? Massive unemployment, rising repossessions, soaring bankruptcies, lengthening waiting lists for everything, increased mortality among the newborn, the young, the poor and the disadvantaged, falling spending, lower pay levels, higher interest rates, probably climbing inflation.
But the FT will soar to 7,000, profits will climb while corporate taxation falls, Tesco will open another 5000 stores including an Express on The Mall, M & S will be taken over by Walmart, the NHS will be sold to a consortium of Russian oligarchs and the City will pay itself the biggest bonuses of all time. Cameron may even announce himself Tsar and scrap elections as unaffordable.
I shall moan and possibly cry. Happy New Year.

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