Why does a Prime Minister resign before the s.it hits the fan? Why is the country run by a Prime Minister that was never elected in the first place? What hit the fan? Need I remind you of some facts?
The list of failures is endless, put it all together and what you get is a bloody disaster from start to finish. I do not profess to be a finance genius, but from where I stand I still remember the last recession also caused by banks so keen to lend and write off loans made to South American Countries, Third World Countries and now the USA mortgage market, yet hardening their stance with loyal home clients to make them pay for such stupidity.
Do you remember? First they made secured lending very easy, then they invented as many bank charges as they could, followed by several rate increases in rapid succession, which generated substantial additional income but not enough to satisfy their greed. When customers could no longer manage with the disproportionately higher level of interest and penalties, banks just went for the kill and repossessed their homes when values were as low as 1/3rd of their real worth to then re-sell the portfolio in a growing market, and still claim any made up short fall from borrowers. What a swindle!
Why the devil did they insist on an income related lending criteria, Ill never know! Was it to ensure that borrowers could service their mortgages or was it to define how far they had to go to reach the point beyond the borrowers means?
A few weeks ago there was no question that the recession would reach the same proportions as the last, now they are talking of a worse scenario. Are they building up to another similar con? I do not understand what the devil has the USA economy got to do with Europe unless it is yet another excuse to justify the exploitation of the innocent working population.
The latest joke is the pound losing nearly 24.5% value against the Euro. Are you really laughing? So much for Britain backing the U.S. and keeping the E.U. at arms length. A little more loyalty to the European United States would have been far more appropriate. A united, strong Europe does not need the USA as much as they would need EU.
When are we going to get someone capable of doing what needs to be done and carry out the radical changes that are so desperately needed to put the country back on its right tracks? Will it take a military coup? Will it take a dictator or will there be an honest person that takes the rein, ignores his personal interest as well as the flack from those that will lose what is not rightfully theirs in the course of justice? But then who would be left to elect such a person when the majority of voters are on the other side of the fence?
Meanwhile, here in Spain the ranks of expatriates continue to swell, but with a difference it seems. Whereas many have gone back to enlist on the social security for unable to cope in this new environment that requires people to work, or because there is little left for unscrupulous exploitation, just as many if not more are replacing them with a difference.
This time there is no rush in buying a home on the Costa; while their homes may remain unsold in the UK, families are now renting their homes on the Costa. This would suggest that they are still escaping from the UK to arrive here with valid means of support, which is excellent news for the local economy. We need workers; we need a population that contributes to our favourite little corner of peace on earth, after all where else could you go? We have heard of floods, snow, gale winds, earthquakes, terrorism, explosions everywhere around, yet all we have had is a bit of extra wind and rain.