…’coz I’ve not blogged anything for a couple of weeks. Kind of been on holiday I guess. What’s been happening?
The UK economy is still in dire straits. The £/$ exchange rate is still down to what looks like it’s going to be a longer term level for the ££. OK so the FTSE100 and the FTSE250 are back to the levels they were at before the EU vote, but the Bank of England has just reduced interest rates and started another round of giving the banks money. That has worked sooooo well for all of us in the past hasn’t it? Sure the banks are still in business (are they really, truly successful bussineses ?) RBS doesn’t seem to be. We’re almost a decade on from the great crash when it was near-nationalised and still it’s making Billions of £££ of losses. Under what principle of capitalism is this rational? A business which can’t make a profit should close – isn’t that what our capitalist economy is all about? Except for banks which are “too big to fail”. But steel industries are allowed to fail.
To keep any readers I may have entertained may I point you in the direction of the always excellent blogs by Grouse Beater? Here he writes on the lunacy of nuclear weapons. https://grousebeater.wordpress.com/2016/08/05/the-folly-of-nuclear-war/
More to follow next week.