Could the recession have been predicted?

The government is standing by its unfeasible claims that the recession could not have been predicted.

Here Chris Colvin attempts, quite successfully, to show how plotting the movements of the Gross Domestic Product (GDP) could have enabled economists and treaury ministers to see what was coming.

Little Nicky Machiavelli says there is no need for Colvin’s graphs, worthy as they are. The astounding thing was the recession needed to be predicted, after all it has been with us since 1991.

We are still in the recession of the early 1990s, caused by the collapse
of the industrial base after it had been undermined for over a decade by the economic lunacy of Margaret Thatcher’s government.

The recovery and sustained growth which continued through the 1990s and until 2007 was an illusion of accounting created by writing up asset values to insane levels. Those who looked past the smoke and mirrors to see what was really going on had been warning since the millennium of the inevitable crash.

Now we are less well placed to cope with the collapse of globalism because thanks to the free market obsession we have outsourced all the real, wealth creating work to low labour cost economies and are left with a candy floss economy.

See veteran agony aunt Claire Rayner podcasts here on how the recession is truly a depression in the making and politiciand and business leaders do not have a clue what to do about it.

RELATED POSTS:
Magic Money

Comic verse on the recession from Ian Thorpe: The Slug and the Snail

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The Cost Of Celebrity Politics: Obama’s Inauguration Party Spend Out Of Control

The cost of the egomaniacal Barack Obama’s inauguration ceremony is now estimated at a gobsmacking $150,000,000 (£102,000,000) Bizarrely the kool aid drinkers of The Obamessiash cult who write of Huffington Post are outraged that some people are suggesting given the current economic circumstances the world’s first celebrity politician is parhaps a tad insensivetive to people whose jobs are on the line and whose homes are about to be repossessed.

And you can rwad what the imbecilic kool aid drinkers of The Obamessiah cult think of suggestions that the chosen one is something of an egomaniac by reading AP fabricates the cost of Obama Inauguration. But to save you the trouble. The Obamamaniacs to a man suggest that the reliable Associated Press have fabricated this figure because they are biased against The Chosen One. The same “if it doesn’t say the sun shines out of Obama’s arse it a lie” attitude we saw all through the election campaign.

Life is a tale Told By An Idiot – a bit of whimsy to help us through these dark days.

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Obama exploits his daughters to promote the cult.

Little Nicky was trying to tell you all through 2008 that Sidi Barack Hussein Obama was a self serving piece of shit who could not be trusted to run a coffee morning. Even so the mainsream media led by those paragons of imartiality (they tell us but we only have their word for it) The Guardian and The Times are still pushing the cult of The Obamessiah and refusing to print anything about the many negative stories in circulation that show the siny, flawless Barack Hussein Obama in a very different light.

Take for example this nauseatingly gushy piece from The Guardian about the letter Obama has written to his daughters (and shamelessly pedalled aound the world press and broadcast media.

Yes this cheap, shoddy and dedicatedly self serving man has exploited his family as blatantly as did the traitor and war criminal Tony Blair. But Little Nicky Machiavelli’s blog has always highlighted the political similarities between Blair and Obama. The only thing that stops the pair being political twins is Obama’s penchant for playing the race card when he gets caught lying.
Find my comment on Obama’s letter to his daughters

While the papers are enthusiastically using the “letter” which is a sanctimonious ramble about hopes dreams and visions to further promote the cult of The Obamessiah we very much dounbt either paper’s books supplement will carry a review of Chicago rent boy Larry Sinclair’s book Barack Obama and Larry Sinclair this weekend.

Now I am not suggesting you should believe Larry Sinclair, I neither believe nor disbelieve him but simply think the evidence he offers is compelling enough to warrant a closer examination.

The President – Elect’s PR team are using the same tactics against Larry’s book as they did against the lawsuits brought by Phillip J Berg and others questioning Obama’s elegibility to serve as U.S. President as he had never satisfactorily answered allegations that he was born outside the USA to a Kenyan father and an American woman who had not reached the age of citizenship. These lawsuits and Larry’s allegations have not been faced but have been blocked by injunctions based on legal technicalities.

Read Larry Sinclair’s profile to understand how Obama’s handlers operate.

We hear at Times Online the president – elect has taken delivery of a new limo. Looks ideal for Barry and Larry to have their little soirees in.

MEANWHILE on the lighter side Boggart Blog has this…

The new American Fascism

Little Nicky is back – it has been a difficult few months but we will keep up regular posts now even if most of them relate to articles on other blogs.

The first is from a source that might surprise some people. Throughout 2008 while watching the American election unfold I found that I, a British news junkie whose politcs are classical liberal socially and a democratic socialist economically, had more in common with some well informed commentators of the American enlightened right than with the U.S. Democrats. Well I’m not a fan of politically correct thinking, feel that “affirmative action” is an injustice – and two injustices do not make justice in fact to be honest I can’t quite forgive the “east coast Liberals” among the US Democrats for working so hard to raise funds for the IRA. While I supported the cause of a united Ireland the methods used by some organisations to try and achieve that goal were abhorrent.
(Equally abhorrent were the tactics of the “loyalists” of course)

Anyway I had a lot more sympathy with the stuff people like Jeff Schreiber of America’s Right blog were saying and writing than I did with either the rantings of the Rabid Right or followers of the cult of The Obamessiah. As criticism of Barack Obama was (and still is) not tolerated on many left leaning American sites I stopped visiting and read blogs that were well informed, balanced and well written even if I did not agree with many of the ideas expressed.

Today Jeff introduced a guest writer who gave probably the best and most insightful analyses of the economic crisis in America, it’s causes and and likely outcomes.

The writer identifies a worrying trend hidden behind the mask of globalisation, a tend that I have noticed and commented on many times here. He describes it as The New Supra American Fascism, an aspect of a global hegemony and the national bureaucratic dictatorships that transcends national and cultural boundaries and is taking away out civic freedoms and through educational policies that lead to dumbing down and social policies that increasingly isolate us and fragment traditional communities is paving the way for a new authoritarianism that rules not through the agency of jackbooted thugs but through control of information.

More from Ian, in a slightly less strident tone: Humanitas

Are Degrees really the panacea they are claimed to be Devaluation by Degrees

and in silly mode: Graduate? Unemployed? Become a McPrentice

Education – Don’t Write Off The New Diploma An educationalist defends the new apprenticeship / diploma scheme and rightly so too. It heralds a long overdue return to relevance in preparation for the workplace.

And don’t forget Boggart Blog for the best in satire