Good money after bad

It long since ceased to be good money after bad. If our nation has any money left at all (very doubtful) it's a case of good money after good money after good money after good money after bad. And all with not one jot of an effect on the economic recession. More likely it's made it even worse.

How come? Well, mainly because the Government is chucking cash into the hands of institutions that have no incentive to stimulate the economy, but plenty of incentive to reshuffle whatever so-called toxic debt they've found themselves landed with, and writing off the sums they have thrown away investing in fraudulent pyramid financial schemes that have involved them moving vast amounts of money outside the UK. Writing off these major debts leaves balance sheets appearing deceptively healthy and those at the top of the financial heap that is The City creaming off more bonuses. Given the state of the UK economy you can be pretty confident that those bonuses will be heading offshore even as I type this post.

Since the Government is throwing such vast sums into some impenetrable black hole it is clear to everyone outside the UK that as a nation we are well on our way to bankruptcy meaning that whatever money is circulating in the world's financial markets will be giving us as wide a berth as possible, compounding our problems.

£85bn should have been more than enough to fend off the worst of the recession and protect our economy for the long term. But money should have been sent to those who would spend it in a form that obliged them to do so. Businesses are saved by having customers, not by endless state handouts.

So £85bn has been spent destroying the remnants of our economy. And now Gordon and Alistair are supposedly planning to spend more. Where on earth do they think it's going to come from and why do they suppose that they'll be any more successful than they've managed this far?