Individuals, banks, countries, etc, all borrowed on the future. Well, the future has arrived and the loans have to be paid back. Problem is the individuals can’t do it, so the banks can’t do it, so the countries can’t do it, and thus ensues the mess we are in. At this stage, only hard work can do it and for that we need working economies, but the stable door is being closed by the banks being required to hold more money as protection against ‘bad times’. Well, those times are now, so really they should be encouraged to do the opposite. The only way out of our predicament is through the investment of labour and capital, or we’ll be in the same mess in 10 years time. Release the funds and have 24-hour ‘work ins’ instead of strikes! Continue reading
