Friday 21 October 2011

Are you worried about the economy?

Are you worried about the economy? Yes, but I am worried more about the bigger issues that are behind the failure of the economy. I live in the UK but the same problems exist across the western world. The world is run on principles of economic growth with no regard for sustainability. That basic model is flawed. On top of that it is not working because capitalism, the mechanism by which economies are meant to grow is failing.

Capitalism is failing because it was left unregulated for far to long letting people borrow to feed their greed until borrowing became unsustainable.

The world is built on instant gratification which is, yes, I said it, unsustainable. We have now hit the buffers. And it is the time when we have to go backwards a long way and start living in the real world again. It means that everyone will become poorer and we have to accept that. Everyone, that is, except the rich. The rich are always flying above the rest of us. It is the rich who run the big businesses who lobby and indirectly or directly control the governments who cause the underlying problems for all of us except for the rich. They are immune.

Is capitalism dead? No. It was said that it was the best of bad bunch of ways to run the world. Capitalism and democracy. Now capitalism needs to be revised and remodeled to make it sustainable and to moderate borrowing. It needs to be regulated to stop it destroying the planet by logging all the virgin forests and burning all the carbon producing materials.

Capitalism needs to be better regulated. It needs to be managed by the people through government and government needs to truly represent the people not big business.

Politicians, as usual, have failed the people. They fail to remember that they serve the people and not themselves. The worst politicians in Europe are the eurocrats, the unelected politicians who run the European Union. They created the eurozone, which is a disaster. They did this for their own ends, to build a little empire for themselves.

Now they have no idea how to save the eurozone. They can't because it is fundamentally flawed. But they will try to do it and in doing so will waste trillions of our euros. To dismantle the eurozone would be an admission of failure by the politicians who created it. The decision to keep it intact is based on serving self interests not the interests of the people of Europe.

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