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Originally Posted by Mr Angry
That's another political assumption assuming benign ignorance on that part of society whom you deem to be of a "left wing slant". You really, really need to stop this unhealthy fixation with left / right policies, perceptions and prejudices. Life is much, much more complicated than that.
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I agree it's more complicated, it doesn't change though that both right and left have much to answer for. In the most recent case the left-wing policies robbed the economy of money for remedies to the issues extreme right-wing policy caused.
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Originally Posted by Mr Angry
As far as your earlier assertion "it's not the fault of the bankers" is concerned your "realism" is, rather conveniently, somewhat at odds with the realism of several hundred milion other individuals and, oddly enough, Mervyn King. |
Ah didn't say it wasn't their fault at all. They certainly must take some share of the blame. As must Mr King for his part in it all, so it's a struggle to take him too seriously and many arguments have been presented against him. Fundamentally the bankers did what they did to satisfy demand, a demand which should never have been there in the first place and was put there, both here and in the United States, by the actions of politicians.
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Originally Posted by Mr Angry
See above. It is pointless my even attempting to disagree with your idelogical austerity advocacy given the fact that you have not yet realized (or better still refuse to acknowledge) where the bulk of the blame lies for the current situiation.
You are attempting to make the idiotic and irresponsible behaviour of the financial sector appear to be a political issue when, quite clearly, it is an apolitical financial matter. The financial sector is neither left nor right, they have no master nor allegiance beyond greed.
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I don't advocate it, I'm just yet to see a viable alternative. Believe me I find nothing pleasant about cutting welfare and public services when it's accompanied by tax rises.
The irresponsible behaviour of the financial sector was in response to idiotic and irresponsible behaviour on the part of those who should have been regulating them.
They were the engine behind the bursting bubble, the fuel was political, making property into an 'investment' by raiding pensions to fund unnecessary public spending and engorgement of the public sector for ideological reasons.
I apologise if I wasn't clearer. Obviously those in the City were gambling, but they were empowered to do so by poor regulation, appalling political moves and governmental mismanagement of the economy.