G-20 Was About Big Government Getting Bigger

Discussion in 'Current Affairs, News and Analysis' started by jockass, Apr 9, 2009.

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  1. Quite a few of those word things but worth a read in my humble opinion. Pretty good summary of what the Gordon recent G20 'truimph', especially the first half:

  2. I like to think of it as being about big business getting smaller. We need more businesses, not bigger ones. The market mechanisms need genuine competition to function the way they're supposed to and you can bet existing businesses aren't going to go that way voluntarily.
  3. Ok, but how do you equate genuine competition with government bailouts, subsidies and regulation? That skews the market artificially and keeps bad business models afloat. Either there is genuine demand and solid business or their isnt.
    I dont care whether business is big or small so long as it is efficient, profitable and provides a good service and good value for money. And that applies to what I would like from my government too (except maybe the profitable bit should be replaced by frugal (or whatever word works best for not pissing tax money away on lining pockets or unnecessary projects)).
    Essentially the G20 is agreeing to hand out more money to the IMF and expecting that to fix all the problems with the screwed world economy with one pull of the lever. And also using it as an excuse to grow government infuence over business, which as the Japanese example shows just drags out the problem for longer. I wish they could have the balls to sit back, do nothing, let the crap businesses fail to teach those that survive to act more responsibly on their own merit.
  4. I'd mostly agree with you, but the current battlefield is dominated by business on the one hand and regulators (i.e. governments) on the other. Nobody else gets a look in.

    So what are we going to do, leave the shaping of our national life to unaccountable people who can bend our economy for the benefit of their shareholders? Or get the playing field levelled by people over whom we have at least some mechanism of electoral control?

    Edit: Incidentally, I'm not that great a fan of untrammelled market forces, either - but we've had them rammed down our collective throats for long enough, the least the main proponents from the business world could do is have the courage of their convictions and refuse the bailouts. :wink:
  5. G20 was merely an ego trip for our beleaguered PM, who was Chancellor when this problem was brewing in the UK economy.

    All in all the G20 will have no impact on the recession/depression that is occuring in the UK, except perhaps ensuring that the IMF has the funds that Brown needs to borrow to keep the large Government machine running until somebody starts to prune the vast Government estate back, as it should be doing now.
  6. One thing that has been proved over the last few months is that a) if you offer a politician the slightest sniff of a chance to charge ANYTHING to expenses then he/she/it will b) if you offer a banker a chance to write off bad debts then he will bite your arm off. Brown had absolutely no idea what he was getting into when he started down the bailout route. He was niave and blind to the certainty that the bankers would rip him (us) off for every bit of bad debt they could. Of course they jumped at the chance to offload whatever they could to Brown the mug who assumed they were public spirited samaritans on a crusade like him.
    Its not capitalism, and it doesnt encourage good business practice. We are in danger of getting the worst of both worlds where regulations stiffle business and taxpayers bail out failure. We will disapear under a sea of debt and no good can come of it.
    The government should keep well out of it and let business sink or swim on its own merit. But they can't resist meddling and larging it up that they are the saviours and have all the answers, and they havent got a clue.