November 18, 2009

Toxic asses

In the UK the socialist/opportunist Labour government has stunk up the country for the last 12 years and now smells of death itself. Even its apparatchiks in the media are sick of it. A General Election must be held by May 2010 and the Conservatives seem threatened only from the right by the anti-EU UK Independence Party and from the far left by the British National Party, a semi-fascist outfit with racist roots which taps into valid concerns about immigration, Islamism, multiculturalism and political correctness. Under such stress it's only natural for Gordon Brown to revert to his core instinct - envy. So the centre-piece of Labour's programme is...wait for it...a jihad against bankers' bonuses with overt threats to legislate to tear up existing contracts. This is self-evidently monstrous in a free society, but so now are other laws on stuff like 'hate-speech' and shutting down adoption agencies which refuse to collaborate with homosexual adoption.

Anyway let me use the bankers' bonus hook to hang up a concise statement of what just happened:

The financial debacle was due to the generation of toxic assets, presided over in the UK by those toxic asses - Chancellor Gordon Brown and Prime Minister Gordon Brown.

The toxic assets were derivatives of mortgages. The mortgage bubble in America was generated by racist left-wing legislation and blackmail plus government mandated underpricing of risk via artificially cheap credit. The whole crap sandwich is wrapped in a depraved level of government debt which essentially funds the pensions of today's government workers and bribes Democratic and Labour voters with money borrowed from China to be repaid by future generations. It's like Saturn devouring his children. In the UK Saturn is Brown. In the US Saturn is Obama. The children are our children.

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