Biggest £500 Billion tax payer robbery in British history.

Well I would like to say that I did not see this coming, but as far back as two years ago I knew this day was coming. However everyone knew that money and the continuance of making money for the financial institutions and the rich would be given the bailout and get the decision on the day by this traitorous incompetent Labour Government. The correct course of action in my opinion would have been to let the banks go to the wall, but this is an age where one's opinion does not count regardless of how strong the protest.

There are so many questions about this "legalised theft" of tax payers money that should be answered but we will never get the answers. Gordon Brown and his fiscal rulebook has been well and truly shredded and the rule book re-written forever. In affect Gordon Brown has indicated to us that he never really had a clue what he was doing when circumstances got beyond his control in allowing this bail-out.

There are so many deserved causes that I can think of that would warrant this money ahead of this scheme to bail-out the banks, the list is so big that it would fill this page. One thing that does confuse me is that the whole point of this bail-out if you would believe the Government is to start the banks lending to one another once again. In affect the Government want to kick start the economy by you and me to start taking loans, mortgages, credit etc from the banks to start the boom and bust cycle all over again, this is madness. What happens if no one wants to lend?

It is unclear what the long term effects of yesterdays bail-out will hold. Many agree that there will be prolonged and varied tax increases, our pensions will depreciate so that we will have to work longer. One thing I also would like to know is why our banking bail-out seems to be on a bigger scale than America's even though they're economy and population is bigger than ours, something not many economists have picked up on from what I've seen and read. Either way black Wednesday 8th October will be a day none of us will forget for being the day the banks and the Labour Government got away with highway robbery, talk about robbing the poor to continue feeding the rich!

To read article click on Orange headline.

US banking bail-out gives green light for British bail-out

After the developments in America that the financial institutions should be bailed out to the tune of seven hundred billion dollars by the American tax payer

http://news.sky.com/skynews/Home/World-News/US-Bail-Out-Backed-By-President-Bush-As-First-Step-To-Economic-Recovery/Article/200810115113211?lpos=World_News_First_Buisness_Article_Teaser_Region_1&lid=ARTICLE_15113211_US_Bail-Out_Backed_By_President_Bush_As_First_Step_To_Economic_Recovery.

It now seems our our own little Darling is thinking of using the same American bail-out model as an excuse for British taxpayers doing the same over here. Who Say's that white collar financial crime does not pay eh?

In my opinion, an opinion why this bail-out is bad news economically for the future of this country is explained here. If the bailout had not gone ahead it is highly unlikely that Alistair Darling would be strutting around like a peacock now thinking that he could do whatever he wants with British tax payers money. In the long term housing property values will not come down to a realisable level to which first time buyers can afford. If property values are kept artificially high, what makes the banks and mortgage companies the most money, a mortgage at fifty thousand pounds, or a mortgage at one hundred thousand pounds?. Boom and bust is going to be the order of the day I'm afraid and oh how Gordon Brown must be cursing the bad timing of this one for him.

If the American bail-out had not gone ahead there probably would have been a collapse the likes of which we have never seen before. There still may be a collapse as this American bail-out may not even work, time will only tell. Inflation and the cost of living would have gone up in the short term, but financially in the longer term things would have been a lot better. Short term unemployment will have gone up but again would have settled when the economy corrected and balanced itself out. One thing for sure in my opinion is this, what will they do when the next cycle of boom and bust comes. The capitalist model requires bigger profits but will it come at a bigger cost and who will pay the cost when it inevitably fails next time?

To read Alastair Darlings bail-out ideas, click on orange headline.