Adam Lovejoy reports from London: The budget deficit is high, along with the national debt, the banks are not lending, real unemployment gone through the roof, exports are low, inflation eats up people’s salaries and savings and licenced lenders charge interest rates that would make illegal sharks blush. And yet, with all that s..t going on, the British economy just a keeps on growing.
There’s a song in it somewhere, for a choir from the Treasure.
Yep, despite everything the Kingdom’s economy has risen by 0.8 per cent in the past quarter of 2013, as announced yesterday by the Office of National Statistics, a fine collective of men and women who have stood firm during the recession, producing outstanding figures and stats, some revised in the upward direction later. Counting has never been more fun. Knighthood and honours beckon.
But honestly, are the people behind the Cameron/Clegg regime taking the p..s? I mean, they don’t even bother anymore to come up with some proper explanations of how it could happen that the economy just a keeps on growing. Despite all the odds stacked against it, including the regime’s own policies. You know, like pretending to cut the deficit and invest into the real economy but doing exactly the opposite.
And why 0.8 per cent growth this time and not 1.1 per cent or 1.8 per cent or even 2.4 per cent? Because no one can check anyway and hacks and all those business analysts with fancy comb-overs would take this at face value, analysing the stats as if they mean anything.
And the markets that have no connection to the real economy and make money out of speculation and insider trading would not really question official stats, now would they? Especially as all these traders and brokers watch the box and read the newspapers as if what they hear and see makes sense.
Amazing really how for the past 20 odd years all that business news was a load of bollocks really and meant absolutely nothing in practical terms. That’s why all those ‘economic booms’ were in reality periods of economic activity which were driven by astronomical consumer debt pushing up consumption, with small numbers of people making obscene fortunes and the vast majority living on credit and thinking that they were prospering.
As expected, Cameron and the gang, including Chancellor George Osborne, who is tipped to become the next Tory leader, are saying that their economic policies are proving to be correct, now that the economy is growing. Even though it’s not and it’s all about dodgy stats and stupid or corrupt hacks playing along. And, what’s even more surprising, the people out there fall for this bulls..t. So for a while this farce will last – until another crash comes along and the taxpayers will be bailing out all the usual suspects again.
Funny thing, modern capitalism. Works in mysterious ways while benefiting a selected few.