Friday, 8 April 2011

A rare morning of truths

The Sun's not yet above the horizon but already the papers are filled with a rare cornucopia of truths; it's as if the coming sunlight has burned the obscuring mist away. And boy, in all it's nakedness, the truth don't half look horrid. 


Peter Oborne repeats what we all know, that the Euro is in a terminal spiral of decline. He berates the Treasury and the FCO for having absolutely no contingency planning in place for this, for being in 'denial', yet admits that we're so firmly locked into Europe and European finance that we can't escape the fallout, and he stops short of enunciating the only measure that would form an effective firewall - getting out of the EU as rapidly as possible.


Our irresponsible, ingrate banks are loaded with both worthless derivatives and now worthless Euro sovereign debt - when Greece, Ireland and Portugal default, as they surely will, our silly banks will probably get less than 50 cents in the €, and that spread over double the original term. Yet the word is that Vickers will not force a retail banking split; guaranteeing that our banks - and we - go down with the Euro. Again, the loyalty of these people to an international corporate behemoth exceeds their attachment to their native national interest. We should rip their passports up and boot them out. 


The failure of Boy Dave's little Libyan adventure isn't yet complete, so I'll refrain from crowing before my promised three months is up. The commentators lambast the latest cunning wheeze to help the rebels - to send mercenaries to train the insurgents. I'll bet the availability of arabic-speaking NCOs willing to risk their lives as Libyan mercenaries and who can train an indisciplined mob in less than four months can be counted on the fingers of Abu Hamza's right hand. 


MPs are still corrupt and venal creatures, the Squeaker is an embarrassment and the political class unrepentant. No news there then. 


And there you have, I think, enough truth for one day. 

6 comments:

Barnacle Bill said...

Sadly the truth is staring us in the face this bright & fine morn, yet those in authority seem to have left their blindfolds on.

Anonymous said...

The banking situation is the most critical - it was the "banks before people" decision that condemned the Irish to generations of penury.

It is literal treason, we should me "motivating" them by building a gallows on Parliament square...

Jublet said...

So, how many millions more people will have poverty thrust upon them before their political masters accept the inevitable and admit the Euro is a failure and cannot survive.The arrogance of these politicians is quite beyond belief.

Captain Fatty said...

This post about the latest wheeze by the politicos should make you all splutter:

http://witteringwitney.blogspot.com/

Woodsy42 said...

What makes you think that thrusting us all into continual debt is due to incompetence? Maybe that is the intention.

Jublet said...

Woodsy42 You make a fair point. I stand corrected. i just hope the great British public wake up before it's too late.