Neo-liberal capitalism: the economic theory that throws out the baby and the bath water because neither can deliver short term returns nor show rapid growth into profit ....
Given the delusion of neo-liberal capital theory got the Western world into this mess, just how will more of the same come up with a different answer or solution?
Argueing that more of the same economic theory is the answer is madness. The economic madness that said limited companies called banks operate in a different economic system to every other limited company and we, the tax payer, have to cough up to cover the total failure of UK politicians to wake up to the idiots, neo-liberal capital theory was taking them for.
Iceland told the banks their failure in Iceland was the risk of the stockholders - not the tax payers. This attempt to point out how naked the bank emperors were was howled down by all and sundry and yet Iceland has not imploded, has an economy growing at 2.3% and remains a viable independent country.
Where as neo-liberal thinking UK has £1 trillion of sovereign debt (and growing), 0.5% annual growth and about to be down rated by the 'Credit Agencies' in the mean time one of the important econnomic areas of the UK is looking to get out of dodge and re-establish itself as a social democratic country. A move which will cost the remaining Union states a minimum of £1 trillion worse off over the next decade in Oil and Gas tax reciepts alone according to UK Oil and Gas.
I'm with the people of Greece on this one, time for them to tell the neo-liberal bankrupt banks to take a run and jump.
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