You can’t fool all the people all the time…

‘George Osborne…does have that air of smug invincibility that marks anyone who loves to be loathed.’ Simon Hoggart

Two years on from the financial system having a near cardiac arrest, the people who caused it by their own recklessness, greed and stupidity are generally doing very well. Other culprits have been found for economic problems both here and abroad, so finance capital can carry on its merry way, ignoring the possible wider social consequences of their behaviour.

Fortunately, despite the massive propaganda effort, enough people know where the fault lies for their economic hardships. A recent poll found that:

Asked to rank in order the causes of Britain’s record public deficit, voters blame the UK banks, then US banks followed by the Bank of England and the global recession. Gordon Brown came in fifth, just ahead of ‘people who took out big mortgages’, Tory governments of the Eighties — and Mr Cameron and Chancellor George Osborne.

Interesting to note that a lot of people still remember the economic consequences of the 1980s, which much of the Business, Media and Political Classes like to remember as the age of the ‘Thatcher Economic Miracle’. However, lots of other people remember the destruction of much of the country’s economic base, millions made unemployed and the ripping apart of much of the social fabric. If it had not been for the windfall of North Sea Oil revenues and the Argentine Junta invading the Falklands before the full effects of the 1981 Defence cuts had worked themselves through (better luck next time?) the Thatcher Government would have not been able to get away with what it did. A useful account of what really happened in the 1980s can be found here. Finally, it could be argued that whatever the current Government does to the economy, it will not lead to the revival of Conservatism in Britain.


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