Now we have it, now we don’t

 

“We’ve got to go back and have a look at everything. We are going to have to cut our cloth to suit the circumstances.”

Oh yes,we shall have to, but we may not even have any cloth to cut. At first we needed reassurance about this global financial fiasco, then we needed hope. I do not blame governments for trying to put a good look on it. The capacity for people to panic and further destabilise our already fragile global economy is very real. The truth isn’t what people could handle and still can’t because this whole situation came about in an unorthodox manner and no one cared because they were rich, they had money and who cared? The heady heights of dollars mounting up in piles in their personal portfolios was far more important. We still have to go through the process of understanding how this has all occurred and why it will bring some heartbreaking change and that we shall ALL have to work together to remedy it. No government is in an easy position because the markets were pumped up and pumped up…and yes…bang…and the bits are everywhere and we shall need some really good teams of experts to put it right. This whole this is massive financial mismanagement for short term gain…like the short selling of shares. So to put it right we have to build it back up on a solid framework and there will be things people won’t like because they loved all that money.We cannot just think in terms of the entitled and the unentitled because that hasn’t worked. We need a clear picture of how this happened. A clear picture of the impact it is having and a clear picture of the things we can do to improve the situation. Panic won’t help. Moaning won’t help. We need a decent global economy which is constructed by people who actually know how to construct a solid economy.

Budget: Swan reveals $40 billion hole