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The Euro crisis, debt laden lollipops and lambs to the slaughter

By Dark Politricks

The Euro is in meltdown.

People from all over the political spectrum agree on this fact from right wing Tories such as Danniel Hannan to the multitudes of economists and the thousands of public union workers out on the street in Greece or preparing to go on strike in the UK.

The only solution the Eurocrats seem to be able to come up with is throwing more money at already heavily debt laden countries.

This is the worst of all possible solutions and it reminds me of how when I left college back in the 90’s without a job to go to and every high street bank in my town were literally fighting themselves to throw large loans at me. I couldn’t pay them back and most of my mates who also took the loans had no intention of paying them back either. In those days we all thought we would be dead within the next few years from the the copious amounts of drugs and alcohol we consumed on a daily basis and to be honest I didn’t really care whether I was in debt or not as I didn’t believe I would ever need to pay it back.

My first £5,000 loan was spent within a month, most of it at my local pub. When the bank started hassling me for re-payments I told them I had no job and they said not to worry and gave me another even bigger loan to pay off the first one and to give me some extra spending money. In total this one bank gave me 6 loans ranging from £5k to £9k in less than 8 years. They also gave me an overdraft of £3k and a credit card with £2k on it – all without a job. They probably believed that because I was a graduate I was bound to get a well paid job and pay it off without a problem. Little did they know..

Was this in my best interest no. Was I to blame for my own indebtedness – yes. But should the banks have been throwing what seemed to me at the time free money without any kind of assurances that I would or could pay them back – most definitely not.

Most of my friends never paid back the tens of thousands of pounds they borrowed from the multitude of banks, credit cards and loan companies. They managed to avoid them for the neccessary length of time and now the ones who are not dead have mortgates and clean credit records. I tried going to Spain to avoid my debts but had to come back after a while for other reasons and I then had to spend the best part of a decade paying back all the debts I had accrued.

What this trip down my own memory lane shows is that the same situation is happening now only the unwise student who lived day to day has been replaced by a whole country, in fact a multitude of countries who all have little or no means of paying back the huge amounts of money being loaned to them under the auspicious of getting them out of trouble.

The worst thing we can do to someone who is already loaded up with debt and having trouble paying back the interest payments is to load them up with even more debt but then maybe that is the whole idea.

It seems that in this country the government and other powers that be wish to get the kids hooked on cheap debt as young as possible and in some ways they are no different to the mythical drug dealing ice cream man sitting outside a school gate.

When you are a young boy in this country you are not taught about money at school. If you were as a lucky as I was and sent to your local State Comprehensive school the most important things you learnt were how to skin up, how to fight , how to break any rule you didn’t like and piss off the teachers and most importantly how to steam into pretty girls.

Apart from a couple of lessons including History and English everything I got taught at school was bullshit that has left my memory a very long time ago. Everything that I have learnt that has led to my own success has been self taught and brought to bear through self motivation.

What kids at school really need to learn is how to live properly in a world full of temptation. The girls got a class in home economics where they learned to cook macaroni cheese and bake the odd cake or flan and the boys got to do woodwork and technical drawing. I don’t think any of our teachers thought we were destined for anything other than menial jobs, prison or a life on benefits. In fact it is a wonder I managed to come out the well adjusted socially consicious person I am today (cough cough).

When teenage boys are growing up they don’t plan for their future, heck they don’t even plan what they are going to do that night let alone what excuse they are going to give to their teacher for not doing the homework they were supposed to hand in that morning.

So when it comes to money, credit and debt all they see is expensive trainers, gold chains, good times and no consequences. Without any kind of guidance about the dangers of debt and the literal enslavement it brings to those caught within it’s grips they are like lambs to the slaughter leaving the college gates to walk like docile and stunned animals into the nearest high street bank to be given their first credit card and £5,000 graduate loan to “help them get started”.

Yes the parrallels are quite striking and though economics are not my strong points there are enough articles on this site of mine that explain the problems more than well enough for anyone to gain a proper education on the dangers of debt and fiat currency.

Greece is in severe trouble and so are a number of other EU countries who are literally cooking the books to prevent the bond vigilantes hitting them next.

At the moment it seems the only choices being given to these countries is to load them up with even more debt or sell off and privatise anything of value, spend the pension pots built up over decades, increase the retirement age and basically make the poor pay for the mistakes of the rich.

Neither option is fair and neither option should be at the forefront of our politicians minds with the way things are going. That is if they want to keep their well paid jobs, million pound houses, billionaire friends in the city and probably in the not too distant future all their bodily functions.

It all boils down to simple math. There are only a few rich people who caused this mess and there a hell of a lot more poor, or soon to be poor and angry people looking for someone to blame. You do the sums.

 

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  1. Christopher Sellars says

    Excellent and accurate analogy !



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