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Finance Friday: Red lights are flashing?

“Six years on from the financial crash that brought the world to its knees, red warning lights are once again flashing on the dashboard of the global economy.” says David Cameron.

For many people the red lights never stopped flashing, in fact they see black smoke coming out of the exhaust…

Judging from what I see on television, the Downton Abbey crowd who shop at Harrods, Selfridges and other posh shops aren’t spending less. It’s the people deserting Tesco and Asda and making the trek to Lidl and Aldi who are worse off. Some people are not that lucky, relying on the growing number of food banks. It is their fault we are in this mess of course, we can’t really blame Lehman brothers or the bankers, they are whiter than white, so it must be the fault of benefit claimants, immigrants and the disabled.

Lehman brothers was an empire with $275 billion in assets under management so we can’t blame them! Empire building is still in fashion, even the Labour Party approve of Empire building. They have been quick to try take advantage plans to devolve power in England. They want a regional empire for Birmingham and the Black Country. Greater Birmingham? No thanks…

The problem with empires is you don’t always know what’s going on in the far reaches of the empire. That’s what did for the British Empire. Even the Tesco Empire was found to be missing a couple of hundred million quid when someone checked.

The appeal of UKIP seems to be in their empire breaking rhetoric. That small oligarchy in Brussels with their high salaries and seemingly unlimited expenses are revered for giving us intercontinental trade. Do we really need to export to Europe and import from Europe? Can we do without German beer and Vin a la Française? I think we could do without the BMW’s and the Citroens. No wonder the little England mentality is catching on so much.

The article by David Cameron was prompted by the G20 summit, when they could have talked about ending the supply of arms and munitions to terrorists; but didn’t. When they could have talked about stimulating growth by building homes for ordinary people; but didn’t. When they could have talked about the threat of Ebola; but didn’t. Not much anyway… Japan featured in the talks, they have gone into recession again. Is it a great tragedy? They are a rich country. Are their citizens queuing at food banks? The only real problem they have is the same as the UK; one of inequality.

What can we do about world affairs? It seems very little, unless you have money and power. We just have to try to survive and do our bit towards making the world a better place. If you’re a rich pop singer give your time to Band Aid. If you work for the BBC give your time to Children in Need. If you’re unfortunate to have to work for a living, give your money…

That’s all for today. You’ll be pleased to know my stock exchange investments are doing well today. I was going to take advantage of a reduced commission on trades this week; but the shares I was going to buy went up suddenly earlier in the week. I try to buy low and sell higher and try not to give too much to the bank in commissions. Investing in the Tesco Empire was a good idea, 10% up already! If you can’t beat ‘em…

What do you think? Please share your thoughts in the comments box… You can also follow me on Twitter.

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