Saturday, March 26, 2011

All About Twitter in Town

Sitting here and watching the Twitter-stream from London on keywords, such as #March and #Oxford Street, I wonder if the part of the nation has taken leave of its senses.

Using the Internet and live software such as Monitter, you can watch the anarchist groups planning their moves and also what innocent passers-by, caught-up in the mayhem think.

"HSBC in Cambridge Circus attacked. Topshop in Oxford St attacked. At least the anarchists have picked a 'Boat Race' theme."

Interesting to note that the Taxpayers Alliance comment that the Government should stay firm on its economic programme. They mention that some 8% of the population have no real understanding of what's at stake here and the burden of debt left by the last Government. With interest reportedly running at £140 million a day, it's much like a credit card debt. The country needs to rapidly achieve a position where it can start paying off the debt proper and not simply chip away at growing interest payments. Ironically, The TUC's Brendan Barber remarked that even Labour's alternative of 'phased' cuts over four years weren't good enough for him and he retreated into platitudes surrounding putting people back to work, whatever that means in Union speak.

What has of course happened, is that over a decade or more, a large proportion of us have happily bought into a fantasy economy, fuelled by the promise of unrestrained borrowing and now, with the money gone, the Treasury empty and a level of public debt unseen in British history, are resistant to the harsh financial truth. This is that our ageing society can't afford gold-plated pensions and an inflated, generous, European-style, public sector which rather than producing wealth, happily absorbs all tax revenues many times over, with little to show in return but expanding bureaucracy and waste.

Let's remember that the banking bail-out cost around £70 billion and over time, we'll see this back in taxes and shares to the point of a healthy profit. What really hurts the people demonstrating against he cuts, is the unsustainable burden of £150 billion or so of public sector debt and the £Trillion or so of collective debt.

To conclude and on the Twitter stream, AJDehaney tweets:

"To Oxford St via Mayfair and the kind of cars you just wanna drag your keys across."

One of thousands of tweets coming out by the second as the protesters or should I say, anarchists, leave a trail of destruction and chaos across Central London

4 comments:

Anonymous said...

anon again!
I am glad that some people have chosen to rebel.
Especially when it came to attacking Banks.
The three Banks mentioned are all biggots, making their almost criminally high Bonus' to unknown background employees.
Banks are way too greedy, and exploit the poorer customers. My firm witnesses daily discomforts landed on good customers. HSBC, in particular. We have one poor chap who was charged £250 for being overdrawn by £60 for 2 days. Other Banks would have charged £20 for this menial amount.
So, HSBC can burn, Santander/RBS too, for taking financial liberties at both ends of the scale.
Government intervention is needed to control this Bank greed.
Or further rebellious action can be expected by these greed merchants.

Bill Richards said...

What kind of society have we created where people can justify the kind of anarchistic behaviour that took place in London yesterday.

Protest and march by all means. That is democracy, but criminal damage, starting fires, ammonia filled light bulbs thrown at police officers and threats to life and limb can never be acceptable.

Anon 9:53 should be ashamed of that comment, but probably is not. Perhaps that illustrates the problem with our society. Are we all to finish up on the Jeremy Kyle show?

Anonymous said...

aha!
anon again!

To rebel is to act against organisation, whether by gentle or violent means. These top knobs who are making life desperative CUTS need to be taught a lesson they will not forget.
Drastic measures are never as neccessary as they are made out to be. However, if drastic measures are used, then counter drastic measures against them can only be expected. Bills need to be repaid, of course, but not by causing discomfort to the people who voted the chaotic Conservatives into power.
Paying back these outstanding amounts will take years, so why hurry the cuts through.

There is NO apparent reason.

There is another way, that is to stall payments to the EEC/ECM. These are running at around £2,000,000 per day, and for what?

DrM. said...

Let's try it another way 9:50 as I don't think you quite understand the economics that has some of the finest financial minds in the country trying to solve a very real problem.

If you had a credit card bill of say £50,000, you would want to bring the interest down as soon as possible so you can actually pay off the real debt.

The country is presently paying around £120 million in interest each day

If we defer paying off the interest by making smaller contributions then the debt won't be paid off for many decades yet which will impact our economy

While 1/3 of the population receive ha;f their income from the State, the State is effectively broke and can't afford the money or ideed the pensions.