la gran siete said:
she is a gutsy woman for sure.I only wish more would show her commitment.I would like to see these banks and ,maybe,other major corporations have a considerable Government presence so that remunerations and bonuses can be far better controlled as they are in Norway.I think the public are growing heartily sick of all this pay bonanza, especially at a time like this
I'm the public and I'm not growing sick of it. I'm growing sick of the asset buying by the BoE and the free money issued to banks with the states blessing which they make interest on. That's how they pay themselves lots of money. However you have failed to differentiate financial sectors. A generic banking doesn't exist.
From Douglas Carswell's blog:
Stimulus growth is an illusion
The economy grew by 0.3 percent in the first three months of this year. At that rate, by 2015 we might just about have returned to where output was in 2008.
Each year, the government is injecting over £100 billion more money into the economy through its fiscal policy.
It is keeping interest rates low to encourage us to spend and borrow and invest. It has handed banks a mind boggling £350 billion plus of QE money. It has run an £80 billion business lending scheme.
It would be extraordinary if, with all that stimulus, output was still falling.
My fear is that all this stimulus is unsustainable. All that overspending means government debt. All that cheap credit is discouraging businesses from paying off debts, and storing up trouble ahead. Like cholesterol in the economic arteries, one layer of malinvestment builds up upon another.
How much of the recovery is real growth, and how much is going to prove to be sustained by candy floss credit?
In fact, I am starting to think much of the post-2007 stimulus is simply making thing worse.
In the 1970s, fiscal activism failed to engineer real, lasting growth. So, too, monetary activism today.
(See, some Tories do actually tell the truth and a willing to say so despite it being an end to any thoughts of being in cabinet ).