Thursday, 23 April 2009

Budget 2009

A miracle: £606bn and it all fits in the Gladstone Box.

Joking aside, it is one thing to comment and tear apart the dice thrown projections but it is quite another to make suggestions, let alone present real solution(s). As much as we are all sceptical and critical of what the Chancellor had jump out of his box, what would you do if you occupied Number 11 or were asked by he who does how to bail this country out of what it is (free) falling into? And I mean “do” as in “action” referring to the big and important measures – not collecting peanuts while spending coconuts (I know: this allegory could do with even smaller but then also bigger nuts).

David Cameron will need a clear, clean and logical concept to make the difference; just talking and criticising – as much as it is necessary – will not solve anything. It is a global crisis and needs appropriate responses.

This global aspect has not really been taken in: one example is the worries over Sterling weakening because of UK’s disastrous debt levels; this has to be put into context; in this case it is an artificial currency called the Euro, a sleeper, just about to explode facing enormous “debts” and – worse – the suicidal imbalance between Euro Zone countries; that taken into account it should force us to do our homework and prepare for the explosion to come. While Nobody(’s) Darling speaks about a negative growth of -3.5%, Germany, the strongest part of the Euro Zone, officially discusses -6% and is afraid of social turmoil.

I personally believe to cure a disease you have to address the problem, the cause, its origin; then deal with it fast and furious, target-oriented; this is not done by presenting a carte blanche, call it “a bail out” and then watch a bank crunch mutate into a global economic disaster.

Carpe diem!


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