Well done John Bull

Subject: Well done John Bull.



I'm beginning to warm to Jacob Rees Mogg, he has changed his costume from the Phantom in the Opera, to that of a gadfly flitting around on the airwaves soothing the nerves after the cataclysmic fortune  telling of the IMF.

According to Mogg it was all perfectly predictable after Gordon Brown rescued the banks in 2007 with huge dollops of newly manufactured money, comfortingly termed, Quantitive Easing.

In the more honest times of Harold Wilson we called it what it was ‘Devaluation’ and the  effect, “the pound in your pocket was able to buy less”. In those far gone days we made things here in the UK for home consumption as well as for supplying the rest world, a little like China does today and so a fall in the value of the pound meant that whilst the cost  of your imports went up you were more than compensated by selling at a higher price.

Over the years we slithered down the slope of competitiveness, (made immeasurably worse by Brexit) having to rely on imports for virtually everything, and the value of the pound continued to fall.

It could have been so different. We were leagues ahead of most nations in all kinds of areas but we wilfully gave away that advantage for the short termism of the financial markets, betting on the rise and fall of currencies was much more to our liking, epitomised I suppose by the louche behaviour of Bertie Wooster and his wise man-servant Jeeves.

3rd, 4th now the 5th wealthiest, we continue to decline as a nation, I speak specifically of England, our economic position is belied by our worsening relationship to the people we borrow from, the wealth funds, oil sheiks  and the monetary sharks who swim under the name of hedge funds in the American banking system.

Those arbiters of much of the free worlds credit worthiness the credit rating agencies S&P, Modies, and Fitch, rating agencies who mark a countries economic book with a AAA or less  and who will soon proclaim on us by lowering our credit rating, thereby making the interest on those bludgeoning loans rise disproportionately. Eventually the patience of the lender runs out and your credit is cut off leading to financial disaster. Any fiscal leverage you had evaporates and whilst it's hard to equate us with other countries who are far less economically endowed the ideological gamble fronted by Truss and Kwarteng has upset the status quo and importantly the IMF.  They and the Credit Agencies have the power to dismantle an economy by demanding extortionate repayment and now we must wait with bated breath to see what happens

Listening to the high flown eloquence of Rees Mogg one would think the growth plan his party suggest (although we still await any details) was the only way to fund this ever burgeoning social conundrum, an ageing population, an under skilled workforce, ill-equipped to provide the impetus needed for a Silicon Valley (or the Chinese equivalent, in Shanghai) revolutionary break out. We missed our chance when we failed to evaluate and educate our children properly and instead relied on elite schools  to clog our boardrooms with their uncomprehending offspring.

We focused on rights, race and gender dysphoria and not on technology. We had technology in bucketloads in the 1950s, the nuclear knowhow, the aeronautical knowhow, the engineering knowhow but we never had the management who would collaborate with the shop floor as they did in Japan and Germany.

Our Monarchist/Baronial elitist upperclass survived when other countries democratised their 19/20th century establishment and became more egalitarian. For some reason we contented ourselves with the old ways under the guise of tradition, we contrived to think 'they, the elite, knew best but it was largely best for them not us. We the people are too docile, too willing to accept second best. Sadly we still believe in the myth of our superiority when compared to other nations if we compare ourselves  in social matters  such as the condition of our hospitals, or the provision of old age pensions and instead poured  our emotional energy on minority ethnic concerns to appease the growing clamour from them. This is laudable but only after you have adequately provided for the majority.

Our press, the 4th Estate, propprgandersed to our own society that we led in our caring provision and it comes as a shock to learn how far behind we have fallen in trailing comparable countries in Europe, a fact cleverly hidden.

So having ended up being, not only the poor man of Europe with the poorest outcome for its citizens but coming top in suffering the most inequality between the rich and the poor. A succession of Lollypop men and women at the controls hasn’t helped.

Well done John Bull.