"When private debt is twice the size of the real economy, when traders no longer understand the products they're trading, and banks are funding their own speculation rather than productive investment, something has gone grossly and badly wrong."Originally Posted by Burney
I mean look at this.
http://www.telegraph.co.uk/business/...fresh-attack/#
Have you any idea how woefully poor one's understanding of our economy has to be to come out with shït like this? He's basically saying he's going to crush this country's most successful industry in order to favour a 'real economy' that hasn't actually existed since the early 1980s. It's old-fashioned Marxism and as such, is predicated on the existence of a vast industrial working class THAT SIMPLY NO LONGER EXISTS.
It's actually fücking insane.
He has a point there tbf.
And if the finance sector is the 'lifeblood of the economy' then that economy certainly is out of balance. This is the same sector whose drunken excesses crashed the world economy ten years ago since when it has been bumping along the bottom. I know you blame the debtors rather the banks but the banks are supposed to be the clever chaps who should know better and are, apparently, the 'lifeblood' of our economy. It's enough to make your blood run cold.
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