When it comes to matters financial I am an absolute no-hoper. But one thing that does trouble me in the current situation, is the use of our taxes to bale out failing banks. I have visited my accountant this morning, to be told that my tax burden has increased, and I mentioned my view on the bale out of banks to him. Surprise, surprise he agrees with me, let them go to the wall.
One blog that I look up to in a certain amount of awe when I am wondering about matters financial is Mark Wadsworth's Blog. I can definitely recommend a visit and, a few days ago, he ran a poll on baling out banks and 51% believed they should be left to fail. Perhaps I'm not that dim after all.
The other concern is that the current trend, here, in the USA and elsewhere, is going directly against the free market system and will merely store up trouble in the future. It seems to be a gross distortion of free market capitalism and gives failing banks an unfair advantage over banks that have perhaps behaved a little more responsibly. It is corporatism and not free market capitalism to blame. So I was heartened to visit T Bishop Finger, another excellent blog, to find that he had posted a film of Ron Paul, the American libertarian, saying exactly that.
Other than that the only thing to say is tighten your belts!
2 comments:
Ta for link.
Thanks for the link.
Post a Comment