I predicted the current recesson back in 2005, in this blog. Wasn’t hard. Lots of other people knew the credit boom couldn’t last.
What’s surprising is that our leaders in the US, UK and Ireland pretended it could. What’s chilling is that they might have believed what they said; that it was only a ‘correction’, a ‘seasonal adjustment’. When the sub-prime collapse started in August 2007, they still kept to the same course.
In Ireland, they still supported big property developers and their massive gambles. It’s an odd feeling when you feel better informed than the guy steering the ship.
George Bush is ignorant, at the very least. A smart king hires advisors wiser than himself, and surrounds himself with honourable men. Gordon Brown has no real understanding of business; this is the man who:
- Sold Britain’s gold at an historical low price;
- Raided pension schemes for tax purposes and thereby helped destroy them;
- Oversaw a massive increase in public sector employment;
- Indulged in massive state spending and hid it in ‘Private Finance Initiatives’;
- Spent a lot of his time as chancellor defying his Prime Minster and plotting his downfall;
- Hasn’t been directly elected by the people to his post as P.M.
- Never ran a business in his life.
Also during the Tony Blair years: the weakening of the Houses of Parliament and increasingly intrusive police and local government powers. Oh, and I forgot: a steady increase in indirect taxation.
The purpose: To make Britain a socialist totalitarian state, right before it collapses into fascism.
Bertie Ahern (the previous Taoiseach or Prime Minister of Ireland) was corrupt. A man who was only interested in getting into office, and staying there. No real ideals apparent there. There was a recent documentary on him and his back-room boys on Irish television. It was chilling to see they type of men running our country. If a Fianna Fail man tells you the sun is shining, you’d have to go outside to check, just to be sure.
Mr. Ahern’s successor, Brian Cowen did a very clever thing; he managed to stabilise our banks (for the moment) without actually paying any money into them, just by offering a guarantee.
At the time of writing, they’re saying they might put some in, or take preferential shares. The latter way is the way to go: have something of value for taxpayers money, that can be cashed in later.
Giving public money to a banker is like giving slop to a pig and expecting it to lay eggs; they’ll just eat it up and then sit there.
That’s what’s really going on in the U.S.’s wars and this current crisis; putting public money in private hands; the biggest swindle in the history of the world.
After this: chaos, I fear, within two years. Already hundreds of thousands of workers are being laid off in the West.
After that, one must pray that people will return to piety. Those that are righteous in the eyes of God are favoured, even when they suffer, for he is purifying them by this. Those that are ignorant of him and behave accordingly, merely suffer. Those that defy him, he destroys, even in the midst of their seeming prosperity; for how many grand earthly mansions are cold inside and house miserable people?