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Monday, 14 January 2013

More proof that Britain is a Banana Republic

Apparently, it's OK for the political classes' mates in QUANGOs and private monopolies to reward themselves for failure, at the public's expense.

According to Wikipedia, Britain ticks all the "banana republic" boxes:

"...a banana republic is a country operated as a commercial enterprise for private profit, effected by a collusion between the State and favoured monopolies, in which the profit derived from the private exploitation of public lands is private property, while the debts incurred thereby are a public responsibility.
This kind of imbalanced economy remains limited by the uneven economic development of town and country, and tends to cause the national currency to become devalued paper-money, rendering the country ineligible for international development-credit.
This is a form of what has been called kleptocracy--government by thieves. The kleptocratic government is manipulated by foreign (corporate) interests, functions mostly as ceremonial government, and is unaccountable to its own citizens. Members of the national legislature are in effect wholly for sale, influential government employees illegitimately exploit their posts for personal gain (through embezzlement, fraud, bribery, etc.), and the resulting government budget deficit is repaid by the country's working people who earn wages rather than making profits."

2 comments:

Silverfiddle said...

OK Fausty, stop bragging.

The US still dominates the world of crony crapitalism!

Our banana republicanism dwarfs yours!

Heard about Obama's heroic efforts to avoid the fiscal cliff? He made sure there were plenty of tax loopholes so the corporations could continue evading taxes...

United States: The best government money can buy. It saddens me to see Britain suffering the same malady.

Fausty said...

Your banana replublic is a whole lot bigger than ours, Silverfiddle, but perhaps they're as bad as eachother - Cameron is busy doing the same things as Obarmy.

Max Keizer is convinced that this is Britain's Armageddon year. I think he might be right.

It's painful to watch Obama dismantle a fabulously free nation such as yours, Mr S.

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