Economy

I just finished watching a show by Penn & Teller called “Bullshit” and apparently recycling is a waste of time, energy and money. It seems people have known that recycling is a waste of time for quite while. Were I live we have just started recycling and everyone still seems to think, due to media and the government, that it is fantastic. I thought this was an interesting subject because we are spending so much time and money on the project so here are a few links.

If you have a bit of time on your hands i would advise watching the show “Bullshit” available, dubiously here.

Paul Kanjorski gives a great explanation as to why the government needed to bail out the banks. I like his straight talking manner and the way he manages to cut through the crap of why this crisis occured straight to the fundemental neccesity of the actions they took.

Many people are looking for a scape goat as to why the financial crisis occured with some of the main focus being on executive bonus’s/greed. The time for recriminations should come after we have stopped the house falling down upon our heads.

I have been reading a few peoples articles (<– Never trust people who refer to themselves in the third person) on the most recent news in the UK’s economic woes. I don’t usually deride other people’s opinions (honestly) however I did read one article asking why the government aren’t going to privatise Woolworths.

When the government bails out a bank it gets a stake in the bank and hopefully when things recover can recoup any loses additionally it saves itself having to compensate that banks customers to the tune of up to £50,000 each which the government will have no chance of recouping ever.

If Woolworths collapse’s the government isn’t liable to pay its customers anything. I personally as a consumer would be far more upset at losing a £10,000 bank balance than the thought of losing such a wonderful pick and mix selection in Woolly’s.

Maybe the government’s plan of bailing out big banks is a financially sound thing to do. Everyone tells us that these were crucial steps that needed to be taken to save our economy. One still has to wonder however why more hasn’t been done in other areas like employment.

The people who have money and influence are so interested in keeping their house of financial “cards” standing that they forgot the basics, keeping everyone motoring around like busy little bee’s earning their keep. Redundancies in England are rife at the moment and what do redundancies equal? No sorry the answer isn’t prizes, redundancies equal mortgage defaults.

Aren’t we, the public, now rather large investors in banks? If defaults are going to damage our investments don’t we have a vested interest in making sure that doesn’t happen?