While experts postulate upon the state of the Greek economy and the consequences of
the forthcoming Greek default I feel that it is worth reflecting upon the current state of our own economy and factors that may affect how others see us.
The so called austerity package brought about by the coalition government has not delivered significant savings or reduced the big state that we are all too familiar with. The number of government employees has increased despite the washed out bonfire of the quango's. Our balance of payments is pitiful in many areas including foodstuffs. The changes that have taken place are bringing misery and hardship to swathes of the population and the debt is still rising, just not as quickly as it was, but continuing to rise none the less.
Structurally speaking we have nothing in place to prevent bankers going mental any time they like and we have already undergone two bursts of quantitative easing. Easing that has devalued our currency. A worthwhile price to pay if the money had been invested in infrastructure projects and therefore made the nation more efficient whilst the economy immediately benefits from reduced unemployment and a subsequent boost to retail figures. Instead of this the whole lot has been given to bankers which they will erode with commissions to restore their balance sheets whilst the rest of us just pay more for goods and services because of the devalued economy.
You think that sounds bad? A nation that does not own its own ports is a poor nation. As we have sold our main ones off and closed the smaller ones it is no wonder we are being impoverished. We will not be having an export boom because many factories have been closed and replaced with homes. We have lost many trades that we used to lead the world in. We could sell gold but we don't have a lot and the enormous body of state assets worth selling have already been sold off.
Our education is woeful and it has been done on purpose by politicians who purposefully set out to change both the demographics and attitudes of our nation. Our nation is not cohesive and contains many who care not a jot about its woes.
We are obliged by treaty to pay the debts of others even if their debt is to us. We have increased the world leading amount of money that we give away and we encourage increasing amounts of immigration without concern as to what they can offer us in return for a drastically easier life.
When the international spotlight falls upon the UK I cannot help but feel that they may find us sadly lacking. As it is it would only take a couple of new financial services laws from the European Parliament and our financial services sector (the majority of our productive economy) would wither, leaving us in an unrecoverable position with an inevitable default.
There is more that I can put believe it or not but I believe that I have demonstrated the point that events abroad are being used to distract attention from the dire state of our own nation.
Have a nice day!
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