Get a sinking feeling whenever you read the journals and papers on the Internet that consider the economies of so called advanced nations.
After the leadership of the IMF has dished out decades and decades of structural reforms on the so called developing world, its biggest problem is the huge relative decline of the economic relevance high technology countries. This is largely due to the huge amount of wasteful investment in non productive real estate, polluting energy, and military enterprise.
The extreme mismanagement of the leading economies by military, energy and banking advisers to George Bush, Tony Blair and Stephen Harper of enormous stockpiles of weaponry, along with Gordon Brown's crazy ideas about using real estate as a lever for growth has left us with a bitter after taste and profoundly weak economies wasted by misspent savings.
So what is left are former leading economies sitting on piles and piles of useless property, military and polluting energy investments they can't finance at normal interest rates. And, yes the speculation in property continues with present leaders plotting their exit to retirement with the proceeds of greatly overvalued useless property investments across Europe and North America.
Instead of biting the bullet, the present advanced economy leadership navigates its future with spent war, over invested real estate stockpile and associated debt, polluting economies amid an industrial decimation the likes of which have not been seen for centuries, if ever at all. Enormous immigration of huge low paid work forces from former soviet or Russian dominated countries and peripheral European states, the Arab, and overpopulated nations such as Mexico, China, India, and Pakistan, are seen as a last ditch effort to save a failed strategy of military, real estate and pollution overspending.
Immigration from poor economies keeps property prices in OECD nations high satisfying the needs for retirement of vast numbers of war boom babies in industrial nations. While those property speculators live on vastly overvalued estates, the poor immigrants form an exploited second economy based on low wages, little incentive to save and a surge of black markets, drug dealing, speculative buying and tax avoidance in what had been 'respectable' economies.
To say the problem is demographics misstates the issues. The problem is the lack of will in the political leadership of the OECD industrial world to manage and finance their economies the way they tell poorer nations to.
The outlook is for a major correction or continued decline and virtual disappearance of OECD nations as they become a spent spent force in the years ahead.
So I ask the Bank of England to stem the decline by forcing interest rates up and up. Make the war mongers of America and around the world pay dearly for their weaponry because if you don't the outcome will be a slide into instability and chaos with street wars based on cheap money. Don't let Canada waste its clean energy revenues on military and pollution spending.
So I ask the Bank of England to stem the decline by forcing interest rates up and up. Make the war mongers of America and around the world pay dearly for their weaponry because if you don't the outcome will be a slide into instability and chaos with street wars based on cheap money. Don't let Canada waste its clean energy revenues on military and pollution spending.
Make savings meaningful again! Allow capitalism to allocate resources efficiently and say no to the war based militarized securitized economies of Stephen Harper, Barak Obama and David Cameron. Bring peace by stimulating real growth in non-military enterprise. Do not use real estate as a sop for bad management!
We are sick of Arab nations being the scape goat for inadequate policy and leadership. The present trend towards decline is extremely dangerous. Raise real costs so that ordinary people will begin to think and allocate resources more effectively.