Steveten: a blog in the DT:
The only chance of getting out of this crisis without a full-blown Depression is for governments to act in concert, and agree a joint programme of reflation and write-offs. However, this will not succeed if private speculators are allowed to continue to pursue their own personal gain irrespective of the consequences for millions of other people.
You sound like Boringissimo. The above is just silly.
A) No speculator FORCED a country to borrow from him.
B) This is ALL the governments’ fault. They HAVE NOT THE GUTS to tell their people thay can’t afford this or that.
C) The crisis is TOTALLY the fault of government. (I am repeating myself, but somehow the message is so hard to get across)
D) For short-term popularity and to get reelected, governments spend money THEY HAVE NOT GOT. This is called in the trade “LUNACY”, but they are almost ALL suffering from it.
This blaming “speculators” is not only silly but criminally irresponsible. I(t will only give SUCCOUR to the real villains, the government leaders who are criminally reckless, gutless, craven and indeed EVIL while all the time (like you) seeking to blame someone else.
I repeat: NO “SPECULATOR” can force any government to borrow from him. As it happens, it is governments that go scrabbling for the billions FROM “speculators”.
Governments would prefer this lunatic borrowing to go on for ever. It can’s; it won’t. The main problem is, when it all crashes down in flames, NONE OF THOSE RESPONSIBLE ARE HELD TO ACCOUNT.
Not Kohl, nor Chirac, nor ANY of those who negotiated the euro or who over-borrowed (including Sarko of course and his fatuous ex-Finance Minster Lagarde – what did SHE do to stop France’s borrowing?). What is Zapatero doing now? I bet his pension is pretty generous. The ex-PM or Ireland was the FOURTH HIGHEST PAID NATIONAL LEADER IN THE WORLD. Yes, pathetic little Ireland – its leader paid MORE THAN OBAMA.
And you wonder why we’re in a mess? You blame “speculators”????
Jesus Christ …..