3 years ago
Wednesday, 26 May 2010
Myopic: OED definition; short sightedness, unable to see beyond short distances.
So the boy king got to strut on the domestic stage yesterday with the Queen’s speech outlining the domestic agenda of the coming Parliament.
I do agree with him on one thing, his comments accusing Labour of leaving us with “an economy that’s nearly bankrupt, a society that’s broken and a political system that’s bust”.
However I’m not too confident the medicine is going to taste as bad as it should, nor that the myopic vision of the Westminster village sees beyond its own navel gazing.
We are part of a brutal unforgiving global political and economic world now, the domestic agenda outlined yesterday takes no account of this; the paltry £6.2 Billions deficit cut promised is irrelevant when one considers the colossal impact of the financial tsunami that’s on its way, and be ready to batten down the hatches folks, for this ‘Perfect Storm’ will dwarf the banking crisis we experienced two years ago.
Thus we see Dave and Nick the ConLib clique, along with the mainstream media (MSM) myopically focused on trivial domestic issues while the Eurozone Sovereign debt issue along with the meltdown of the Euro continues to build with markets being spooked out of their skins.
Just over 50% of our trade is with the Eurozone, we will not be immune from the fallout of this looming crisis, it will hit us hard. But the Westminster clique are so short sighted they cannot see it.
Hence they have no plans to deal with it!
To put this debt issue into perspective; the combined liabilities of Greece, Spain and Portugal that they have racked up over the last decade is estimated at 2.16 TRILLION EUROS, (£1.9 Trillions) Spain accounts for 1.49 Trillion of this and France is heavily exposed to this debt holding Billions of Spanish and Greek debt.
Italy is near enough a basket case too.
Germany promising a support package of around 1 Trillion Euros hardly hits the ‘mark’. (No pun intended)
If these countries came out of the Euro, re-issued their own currency and devalued their currencies by say half, then they would effectively halve the debt, “simple innit”
But there is far too much Political capital invested in the Euro and the overall “project” and that’s why the simplest solution to the problem is being totally ignored. I would be surprised in fact if the Commissioners and their ilk didn't use this crisis to further the EU agenda even more by pushing for even more political and economic integration, all in the name of trying to save the world.
The huge structural problems facing these 'Club Med' economies is also being factored into the stock-markets reactions hinting that the confidence boosting rhetoric of the ‘quick fix’ of Angela Merkel and her ilk in the EU are irrelevant, the markets simply don’t buy it.
Meanwhile as the tsunami gathers speed, elsewhere in the world North Korea continues to up the ante and our rulers in Brussels continue to chase the false God of doom “global warming” while the four horses of the apocalypse continue on their merry way.
Business as usual then!
But does the myopic mainstream media, “call me Dave” or the “boy blunder” Clegg see what’s coming?
Judging by the practically non existent political comment in the MSM, on the single biggest story since Hitler invaded Poland, and the trivial domestic agenda announced yesterday it looks like the tsunami wave will have to be over their heads before they wake up to what is really happening out there.
Myopic Vision indeed.