Tuesday, 5 August 2008

Northern Flop

It's impressive really. Only a Labour government could get itself in to so much trouble - all of it's own making..

If Northern Rock had been properly regulated and the Chancellor of the day had made borrowing a bit more difficult, they might not be in the trouble they're in.

However, my main point is somewhat contradictory.

Labour cannot help but meddle in everything. They think it's their job. Bit of legislation here, bit there and before you know it, the free market is swaying and stumbling under so much regulation that it's impossible to call it a free market.

Northern Rock is an example of where they should probably have stayed out of it. House prices - another. Just let the system find an equilibrium and stop faffing about.

You see it comes down to one basic premise. Labour don't trust the general public to make their own decisions. We apparently all need to be looked after and saved from our inevitable mistakes because we are so stupid, we just can't do it on our own.

What a load of nonsense. Some of us are actually quite clever. (Maybe not me but people I know).



Styx of Rock said...

Liking this new style blog of yours big time, as saying what I'm thinking! Get to you via Hitcho's links, where I'm hiding too.

Major Clanger said...

Cannot agree my friend. Northern Rock have been using this business model for eons, it is not because labour made it easy for them to operate as they did. Our 'free market', is no such thing. It is driven by the American monetary system and by the occassional stupidity of CEO's who think they can predict what the money markets are going to do long term. Any equilibrium we have is merely a glass house waiting for the inevitable stone. Whilst I accept that Labour are quite literally shooting themselves in the foot, the desire for Governments to meddle in all aspects of our lives is not a prediliction unique to the red side of the house. Thatcher spent ten years telling us all to buy a house and then created such as massive downturn that many people had to hand their house back to the bank........nice!! This is not a red or blue arguement really, it is about centralisation. If you think for one second that 'the Eaton crowd' will be any less intrusive, then I think you will be sadly let down. This all harks back to my last post, it just all makes me so apathetic.
PS. Hoggstars comment on my last post was a moment of true inspiration. I had a little laughing wee.