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It would appear that any organisation will reflect the approaches and ideas of its leaders. The way society shapes is no different; although the big question is do we get the leaders we deserve?
The G20 have met again and having all been full square behind an unprecedented shovelling of debt into respective economies like a stoker on a steam train; we now see France and Germany starting to panic over their actions and the true legacy they are creating.
The one thing that is vital for all economies to be robust is certainty and strong, positive action. The run on sterling when in the ERM by George Soros was largely aided because of indecision and half hearted actions by Norman Lamont.
What makes the market nervous is the flip-flopping and vagaries. In fairness Darling has stood firm saying the actions are right. But there is just something that doesn’t inspire confidence.
I really don’t think anyone knows how or when we will see our way out of the mire the economy is in. Sure there will be economic indicators pointing in all directions and those that prove the point will be latched on to. But in reality we are creating a mess for the next generation.
We have recently finished paying the USA lend lease debt from World War II; I guess the debt of the 2009 depression is what we leave our children!
For goodness sake though they committed us on this path, please don’t screw it up through lack of backbone!
04 Sep 2009 14:28:24