Depression… uhh, arhh, I meant Recession
What does Brown know that he isn’t tell us. That this so called recession is actually more serious. Not shit Sherlock.
I have to admit, it was quite a good slip of the tongue.
The economist at the Independent has come up with a 10 point rescue plan. Uhh uhhhh. So this is the man back in August some time was saying that we aren’t heading for a recession. Yep, I trust him.
1. Start fire-fighting
Paradoxically, addressing the crisis involves the same poison that created it in the first place – excessive debt. As governments around the world seek to bail-out their banking systems and revive their economies with fiscal stimuli, they are only replacing one form of debt with another. Public debt is substituting for the private debt which is no longer available. Credit risk is thereby being socialised on a hitherto undreamt of scale, leaving future generations of taxpayers with potentially crippling liabilities.
Can someone explain to me why this is a good idea???!!???
Meanwhile, Japan is sorted. They just need to extract gold from shit, as it were.
Actually in this case, it’s industrial waste… however, I wonder how much Gold is in human sewage in Japan. They tend to use it a lot for decoration in food.
2009 Feb 05 Gavin
It’s a good idea because it takes all of the crap that’s been created over the past boom, and dumps it onto the taxpayer. We all know that’s how it’s supposed to end, because that’s how it ALWAYS ends.
So it’s a good idea for the people currently afflicted with the problem. Pretty bad news for those that will get the problem, i.e. most of us.
Whether here, the US, Australia, Germany, wherever you look everyone has simultaneously started talking about a “bad bank” (owned by taxpayers of course), where the crap will be dumped. Not a good bank owned by taxpayers that can start the lending, the taxpayer has to get the bad bank. And every affected country has come up with this idea?
Gits. And they wonder why unrest builds up?!