Friday, April 18, 2008

The destruction of wealth in the UK

Man in a Shed doesn't do too many miles in his car, so only fills the tank up about once a month or so. There was a sharp intake of breath the last time I did it - £1.14 / litre !! almost 13% more than the previous fill !

Today I find a letter from Scottish power telling me that my monthly direct debit for gas must go up from £34/month to £50/month (47% increase).

My council tax has gone up by 4.9% (though Woking borough council did its best with a 0% rise for its component - thanks for the thought guys ).

My taxes will rise sharply as the 10% band is removed, as I will be paying myself a low wage this year.

But none of this need worry me as the government is busy presiding over a time when wealth will be destroyed on an almost unprecedented scale, except perhaps in time of world war (let not forget our government has us paying for at least two smaller wars right now ).

My pension fund is to be raided by RBS's demand for cash - and many of the other banks will soon do the same - as that's part of Gordon Brown's fig leaf for the next assault on my assets. Yes you thought the billions thrown at Northern Rock were bad enough, but soon the Bank of England will pretend that it can exchange the toxic mortgage securities that banks don't trust with government debt about £50 billion worth (which it will print money and devalue everyone's wealth through inflation to provide - the rest I - with you - will be liable to pay though taxes in years to come ).

Add to that the panic going round the Labour party right now that will lead to more of my(and my families) money being thrown into some bizarre Brownian tax credit / rebate over complex(and always expensive to administer - but that buys more Labour votes) scheme[ not announced yet - but you can be sure that if it comes to a choice between spending other peoples money to save their political skins and doing the right thing which way the despicable New Labour lizards will go].

I have been a fool to save money, in my pension and bank account. The government intends to destroy both whilst keeping early retirement and guaranteed final salary pensions for its own priestly caste.

But things could yet get worse ......

What is Brown doing ? Talking fantasy politics in America and grovelling with one of Britain's worst and most constant of enemies, Ted Kennedy. He talks about wanting to reorder the world - when his own country is drowning in the debt that it ran up on his watch and the wealth of many people is to be destroyed in his vane plan just to get re-elected.

1 comment:

Semaj Mahgih said...

I have been a fool to save money, in my pension and bank account. The government intends to destroy both whilst keeping early retirement and guaranteed final salary pensions for its own priestly caste.

I left it all behind twelve years ago. Did I do wrong?