ALAN FRANKLIN writes: Since 2006 I have been saying we are heading for The Greater Depression. Key those words into our search engine, top right, and you will see some of my earlier thoughts.
There seems to me not the slightest chance that politicians are going to tell the truth about the gravity of the situation, which is the same in Britain, America, Greece, Portugal, Spain et al….
We are broke, bankrupt, finished, kaput – beyond any hope of recovery that I can see. There will follow, whoever wins the election in Britain, austerity measures so severe they will make the eyes water- and send the mobs out on the streets.
Now even Bank of England governor Mervyn King has reportedly said that whoever wins next week’s British General Election will be so unpopular they will be thrown out of office and stay out of office for a generation.
Here’s the opening of the story, in The Daily Telegraph. Reading readers’ comments afterwards I came across a rare gem, a comment so clear and precise it needed to be reprinted and spread abroad. It’s the solution to our troubles. For American and other overseas readers, just insert the name of your country and much the same remedies apply. Here is the heart of the Telegraph story- then the reader’s perceptive solution, to which I would add one vital thing. We need a spiritual revival, not just an economic one.Here’s the opening of the DT story: Whichever party wins this election will have to inflict such painful austerity measures on the British population that they will soon find themselves out of power for a generation. Not my words, the words of Mervyn King, Bank of England Governor.
Or so says American economist David Hale, who says King confided this with him over lunch last week.There follows one reader’s perceptive observations, which are worth sharing:· 1. Recall all troops from pointless wars in Afghanistan, Iraq etc.
To be precise, he said: “I saw the Governor of the Bank of England last week when I was in London and he told me whoever wins this election will be out of power for a whole generation because of how tough the fiscal austerity will have to be.” Ouch.
2. Withdraw all social support for immigrants who have come to this country in the last 10 years and who have not paid at least 5 years of NI contributions.
3. Remove all illegal immigrants and bogus asylum seekers.
4. Cease all Government database and IT projects.
5. Strategic defence review with objective of a complete reconfiguration of the UK military and a halving of defence and procurement costs.
6. Change EU membership from full back to associate. Cease paying the annual billions of pounds membership fee.
7. Across the board salary cut of 20% for all public employees and/or reduction of headcount of state employees of about 1 milllion.
8. Remove all QUANGOs
9. Cease all foreign aid
10. Dispense with all regional development councils
11. Total simplification of the tax system including a flat tax
12. Higher state pension and removal of all means tested pension tax credits, winter fuel allowances, etc. State pension not to be considered income for tax purposes.
13. Removal of ALL red tape, much H&S rules and regs to allow small business to form and flourish.There are lots of other savings if this doesn’t deliver at least £70B