How bad is it ?

Peter Oborne lays out the down side of our current situation brutally in today's Daily Mail. The markets have just almost halved the share value of RBS again. Lloyd's TSB seem to have tried a millstone round the necks of their shareholders with the purchase of HBOS ( a lot more should be known about Gordon Brown's influence in this take over ).

Civil unrest may be only a few months away, see David Cox here. I've mentioned many times before that we should look to Argentina to see what happens when a government goes bankrupt. The executive summary version is this - the middle classes are reduced to poverty.

It seems the government have no idea of how bad things are. They are becoming at best city traders at worse desperate gamblers - and they have no encouraging form as either !

What is sure is that they continue to put their political careers ahead of the country.

1. Has anyone seen signs of cost cutting at RBS or HBOS ? Both are now ( or shortly to be when Llyods gets its next bail out ) state controlled. Surely costs should drop now ! ( But of course that would mean redundancies in Scotland - where the Brown/Darling duo are based ).
2. Has anyone seen signs of government cutting back on its expenditure. ( The only signs I've seen are Geof Hoon inviting us all to drive of the hard shoulder of motorways rather than build more and the delay in the White Elephant Aircraft Carrier programme. )

Its time for some responsibility, realism and please oh please competence.

I don't think we will get these from Brown. He is either out of control or deliberately driving us over the cliff for his own ideological reasons.