SITUATION ABNORMAL.

Brussels seems to have gone into a semi-comatose state as we approach the festive season, many of the thousands of overpaid minions could well have made their break for extended freedom. The tragi-comedy, however, is still ticking over, with much wool pulling over eyes.

The powers that be, having just returned from their euphoric trip to collect the Noble Peace Prize, that is if we are prepared to overlook riots on the streets of some European capital cities. On returning, their latest gambit appears to bring 200 of the largest banks together under the auspices of the European Central Bank, to somehow support the beleaguered Eurozone. One wonders why it took so long to turn to the people who control the money. Having said that, where on earth would any extra funds come from? Not from the western world, one suspects.

Another sideshow developing is the situation in Italy. Mario Monti, the usurper/placement, imposed upon the Italian people by the undemocratic Brussels regime, is considering standing down. This is really the big story, because he will know, that whatever the outcome of the Central Bank's intervention, the Euro is doomed, or at least will have some countries falling out of the zone.

THE AUTHOR DOESN'T ENJOY SPROUTS EITHER.

THE AUTUMN STATEMENT.

This subject would normally be dealt with on the other channel: 'Government By PlayGroup' (http://polly-tickle.blogspot.com). The stupidity of the European Union, however, suggests that we can consider Chancellor of the Exchequer, George Osborne's statement here.

As with most of the western world, not least the US and the EU, times are hard and getting harder. This obviously means that sensible folk need to cut their cloth accordingly. This problem is not going away in a hurry. Not only my children, but their children and so on, for generations, will be trying to reduce the debt bequeathed to them by the last Labour Government. This problem won't go away just because we are getting bored with austerity, it's probably only just beginning. Let us consider concerns that are ignored when politicians are discussing the future. Should the Republicans dig their heels in regarding Obama's left wing budget strategy, the States will be buying fewer imported goods. The EU is closing down at a high rate of knots; we then have to fund an extra influx of East Europeans in a year's time, which suggests that savings will be difficult to come by.

The retarded Labour Opposition is for ever harping on about a plan B. They think that we should carry on the Keynesian theory indefinitely; I'm sure that John Maynard would not have advocated such nonsense.

The real answer would be to pursue the John Cowperthwaite approach, by lowering taxes, preferably with a flat, across the board rate. Plus, if we plan annual benefit reductions for the workshy, we could have an 'effort' driven recovery. A serious look at ridiculously low interest rates, which triggered farcical house prices, must also be a consideration.

WHAT RIGHT HAVE WE TO PASS OUR DEBT DOWN TO FUTURE GENERATIONS.

DOES SAXO KNOW IT'S SALT.

Investment bank Saxo is starting to make noises regarding the economic mayhem which is the Eurozone. They could, of course, be suggesting the worst for their own ends. Personally, the author thinks that this could only be a possibility should they be betting on the demise of the currency. The fate of the Euro is not good and is almost bound to experience a partial collapse. Logically, investment banks cannot be setting out their 'stalls', until some positive signs show up regarding the future of the region; but, due to the intransigence of the Brussels elite, and 'die hards' such as Germany and France, there is nothing on the horizon. So the markets will ultimately put a stop to this stupidity of buying off debt with money that simply does not exist.


CHRISTMAS WON'T BE SO MERRY FOR GREECE AND SPAIN.