Prime Minister,
A couple of interesting reports in the Pleb news today. The Associated Press are always worth a good read because they rarely get their assessments of economic progress wrong, and in this report they’re showing exactly why “progress” is not a word that should be associated with our economy right now.
https://uk.news.yahoo.com/uk-pm-warns-bleak-prospects-global-economy-093943869–finance.html
You’re warning of “bleak prospects” and “another economic crash on the horizon.” No-one who has been following your Chancellor’s master plan is at all surprised that you have finally been compelled to make these admissions, because we’ve been watching society crumble before our very eyes under your stewardship. Way back in 2011, when the true meaning of your Work and Pensions Secretary’s Auschwitz-inspired (don’t bother to deny it) policies began to manifest, I asked you exactly how making people poorer was supposed to help the economy to grow. You declined to answer this question, as I’m 100% certain that you will shy away from it even more hurriedly now.
There is a simple law that governs any economic practice, Prime Minister, whether the markets are micro-managed by the government, or allowed to be “free.” That law says that for the transit of goods from manufacturer to consumer to be successful, the latter must be in a position to afford them, otherwise consumerism simply becomes unsustainable. What you and your Chancellor have done, effectively, is to make further mining or raw materials unnecessary for at least the next two years, because what is being produced from those raw materials has become increasing unaffordable by a growing sector of society. House prices are set to take a massive tumble, because the odds of people getting a mortgage have fallen in line with their transfers from full-time employment to zero-hours placements, workfare, and temping roles. There is no income security, which is the primary focus of those gnomes in the banks who examine mortgage applications.
The housing market has been our economic barometer for so very long now, that when the housing market dips – as it certainly will within the next two years – the stock markets will be not so much “jittering” as lifting their corporate skirts and leaping onto any available raised flat surface to escape the latest mutation of the Recession Rat, that their inattention to their work will exacerbate the coming collapse.
Your speech at the G20 in Brisbane was an unequivocal confirmation that your Chancellor’s policy of austerity has been a complete and utter waste of time. Not only time, though. It has also caused the untimely deaths of a reasonably estimated 40,000 innocent, vulnerable people in the United Kingdom, the records of which your W&P Secretary is so terrified might become public, that he’s gone to extraordinary lengths to conceal them. Why the London Metropolitan Police Service has not arrested you, your Chancellor and your W&P Secretary, and charged you all with criminal incompetence and corporate manslaughter, is something that I guess will come out in the fullness of time and lead to much rolling of the currently more junior helmeted heads. The more senior ones will no doubt escape into natural deaths and thereby avoid justice. The damage has been done though. Confidence in the organisation that many of us now prefer to call Metrothug Inc, following the disgusting displays of brutality at Tarpaulin Square, is at an all-time low and is unlikely to rise as their willing complicity in your W&P Secretary’s extermination plan, obviously approved by you as you have failed to either stop or remove him, becomes ever more evident.
“Government debt, meanwhile, remains high among large economies like France, Italy and Britain. That means they will have to limit spending for years, potentially stymieing growth.
‘National debt levels are perhaps double what they were before the (2008) crisis,’ said John Whittaker, an economist at Lancaster University’s Management School.“
You will have to limit spending, yet the row about the proposed 11% pay rise for MP’s rumbles on in spite of highly obvious public opposition to the measure; you continue to give away tax cuts to the wealthy while your Chancellor borrows and borrows the UK further and further into the red; you intend to lift around 1 million more people out of paying income tax altogether; yet your government has mooted the possibility that VAT will be raised further if you are re-elected in 2015. We already pay ONE FIFTH of purchase value on top of any rated purchase in VAT, and you want to raise it further?
You need to cut spending, yet you are prepared to splash out £50bn on a railway that is already twenty years out of date before a single carriage has been built, and we all know from experience that that original figure will at least triple over the course of the project. Your W&P Secretary has wasted untold millions on his whizz-bang computer system, that has proved to have more Bang than Whizz, while the joint claims that form the majority of the DWP’s work are still having to be administrated BY HAND. You waste taxpayers’ money on overseas aid, given to nations who are either hostile to us or headed by bling-obsessed, evolutionary dead-ends who use it to tart up their summer palaces, and you give it to nations which have their own space and nuclear programmes, yet which do little or nothing to ensure the safe medical treatment of their female citizens or to cut out the heart of corruption within their government organisations.
You have deliberately caused a rift between Britain and just about every other member nation of the EU through your excessively vocal opposition to the appointment of Juncker to the EU Presidency. It is incredibly easy to see that your intention in doing this was to ensure that whatever demands regarding freedom of movement you take to the negotiating table will be rejected, thereby giving you the perfect excuse to drag Britain out of the union without the need for your much-vaunted referendum. No doubt you intend to sell the UK public the fiction of getting us away from a toxic economic environment when the truth could not be further away from that position. Your weakness and inability to control your Party has never been more clear, as you work under the table to try and appease creatures who you would, if you had any guts at all, be expelling from your Party. And the reason for all this? So that you can eliminate the risk that Pleb Central might vote to remain in the EU in 2017, which would screw up your, and Theresa May’s, plans to revoke all civil rights in the United Kingdom without foreign opposition. Really, Prime Minister, you might as well just come out and rename this country North Korea Part II. The only country you should be working to distance us from is the serial terrorist nation known widely as the United States of America. It has now become crystal clear that the only “special relationship” that we have with them is their ongoing ability to tell us to jump and for successive Prime Ministers to ask “How high?” Are you aware that the USA has a “special relationship” with every single nation within the EU that has a nuclear capability or facilities, Prime Minister? Why do you think that might be?
Even your pet mouthpiece, the Daily Fail, seems to be turning more and more against you these days, as they realise what a lame duck you actually are now that your house of cards is beginning to tumble and that UKIP is more to their narrow, twisted, nazi taste. When are interest rates going to rise? they ask. (https://www.dailymail.co.uk/money/news/article-1607881/When-UK-rates-rise.html) The Bank of England is desperately trying to shore up the cracks in your fast-evaporating phantom economic recovery in which no-one has benefited except the top 1% of the population. Originally Carney at the BoE said that interest rates would not rise until unemployment fell below 7%. Well, it is now at 6% and Carney & Co dare not – DARE NOT, Prime Minister – raise those rates because household incomes have not risen anywhere near sufficiently in spite of the reduction in recorded jobless. I say “recorded” very deliberately because the fact is that many of those not in receipt of JSA any longer are in positions that pay insufficient income to allow them to make ends meet. As a result, the burden of benefit claims has moved from JSA to housing benefit and the whole pile of records is shown up as nothing more than a paper exercise designed to enable you to LIE to the public as to the true state of the UK economy.
When interest rates do eventually rise, they will do so a quarter of a percentage point at a time, but by then we will know if the Funding for Lending scheme was a success or failure. Based, as it is, on fake money created on computer screens and with no solid collateral to back it, it has no value in real terms, and sooner or later someone is going to challenge the validity of the “loans” made with it. If the money doesn’t exist with a tangible value, how can any debt involving it exist? A simple question that can only have one answer, Prime Minister. Once the precedent has been set, banks will begin to fall like a row of dominoes. All that people paying real money to reduce a fake money debt does is remove that real money from the active economy. Fractional reserve banking and QE is what will eventually sound the final death knell of capitalism because it is removing people’s ability to spend in support of real businesses – and good riddance.
With high street banks eager – even desperate – to attract savers, the hit on the mortgage payer is going to be huge either way, and many of those you conned into taking your Help to Buy initiative will very probably end up losing their shiny new houses because of the aforementioned lack of wage growth. The sad part of this is that they will also have only been “indebted” to a computer record and not for real money, but the taxpayers will be hit for real cash by the banks concerned, and no-one – not even your Chancellor – knows where that money will come from. That, Prime Minister, is FRAUD, plain and simple.
Ours will be one of the only economies in the world where wages will begin to rise but inflation will continue to fall, because the rises that will happen will still not permit people to spend into the economy, thereby creating demand. Those of us who are dependent upon State support payments will remain in the near-penury to which Duncan Smith and the fraudster, Osborne, have consigned us.
I suppose that there is one thing that has come out of all this carnage that you and your fellow right-wing leaders have caused: It has proved beyond a shadow of a doubt that your neoliberal dream was, as you were told back in 2010, a wasteful, destructive nightmare. The mental scars you will have left upon the minds of thousands of vulnerable people and their families are never likely to heal. Their children, at least, will know NEVER to vote for your Party at any time in the future, no matter what financial offerings you make. They have learned, at their parents knees, that you and your ilk can never be trusted with their well-being and they will refuse, point blank, to permit your party to harm their children as you have deliberately and with malice aforethought harmed them. It’s just a shame that the political newcomers who will collect their votes instead will actually turn out to be worse than your government, because their leader is an even bigger liar than you are, and they will live to rue their political ignorance as the NHS disappears entirely along with state pensions and unemployment & disability support.
I’m curious, Prime Minister: Has the damage you have inflicted on so many lives given you the same – or a bigger and better – rush as burning a £50 note in front of a homeless person? I can think of no other reason that you have permitted – nay, encouraged – so much hardship and misery to be generated during your watch.
Sincerely,
Darren Lynch
