DIARY: Today, 24-hour news, 10 rascals, depression, welfare state for swans
A splendid interview on this morning’s Today programme cheered up the prospect of facing leaden, snow-laden skies.
John Humphrys met Business Secretary Peter Mandelson in a contest of heavyweights. It was a game of two halves.
Humphrys opened play much too respectful of his wily interviewee. Mandelson took the early rounds easily, brushing off the challenges with effortless aplomb.
Then the BBC man found his steel. Changing tack, he began to question Mandelson’s definition of protectionism. Saving British jobs for British workers is not protectionism, he argued; that’s when governments ban other country’s products. Some of us have also been arguing the very same case for a while.
Mandelson rebutted/refuted that line too, but was now firmly on the back foot. EU purity is his passion. He would not retract an inch (sorry, centimetre) of the radiant way, as defined by Brussels.
A scrappy period of play ensued with raised voices, claim and counter claim. Humphrys stuck to his line, however, while Mandelson descended into bluster and even developed a stutter not often heard before.
The result was a clean knockout for the Welshman, while Lord Mandy made the best fist he could of defeat.
As I’ve said before, Mandelson is not to be trusted with British policy in this important policy area during times of acute economic distress.
We need British politicians for British workers.
Flipping through the 24-hour news channels yesterday reminded me how boring news can be most of the time. Crimes, especially murders, are often given prominence where once they would be confined to local bulletins. Nowadays, the most trivial of occurrences get an international airing.
It’s the same for local news. I once stayed overnight in Aberystwyth, Mid-Wales, and turned on BBC Radio Wales for the local news. The top two items were:
1. A man fell off his bike on a country road near Borth this morning. He suffered a grazed knee. The bike was undamaged.
2. Children had to take sandwiches to school in the village of Aberllor today as the dinner lady has ‘flu.
Obviously Mid-Wales is a very peaceful place to live.
The question remains, would you rather view 24-hour rolling TV news or watch paint dry?
The wise would choose drying paint. It’s reported that Bodhidharma, founder of Zen Buddhism around 500AD, sat staring at a wall in meditation for nine years.
They must have had very slow-drying paint in those days.
Money Central in The Times (London) is running a feature: The 10 people most reponsible for the recession. Here’s the list:
1. Dick Fuld of Lehman Brothers
2. Hank Paulson, U.S. Treasury Secretary
3. Alan Greenspan, former Fed chief
4. John Tiner/Hector Sants, both of the FSA
5. Fred Goodwin of RBS
6. Gordon “British jobs for British workers” Brown
7. George Bush — what will we do when we can’t blame him for everything?
8. Kathleen Corbet, former head of Standard and Poor’s
9. Hank Greenberg, head of collapsed insurer AIG
10. Angelo Mozilo, biggest sub-prime lender in U.S.
No-one is spared, it seems. Everyone is to blame.
Let’s shoot the human race.
There are many words used to describe our current financial and economic situation: meltdown, downturn, crash, recession, slump, “lost decade”, depression, Great Depression.
We know what a recession looks like because Britain has just officially entered one: two successive quarters of negative growth. But what about the rest?
Actually, after recession bites, the rest don’t matter, except “slump”, which is a poetic rather than a technical term, and “depression”. “Great Depression” is an afterthought slapped on by historians.
So what is a depression? Ronald Reagan gave the folksiest description: “A recession is when your neighbour loses his job. A depression is when you lose yours.”
Technically, though, a depression is a fall in output of 10 percent from peak to trough.
Clearly, we’re not there yet, except possibly in Korea and some other Far Eastern economies. If the IMF is right and UK output is set to fall by up to 3 percent this year, it will need to be a long slump to make up the depression numbers.
However, another trend of the past two years has each successive forecast revised sharply downward. We could be in depression sooner than we think.
On the River Exe we have around 250 swans, nominally wild, but in fact incredibly tame. Anyone walking by with a plastic carrier bag is quickly surrounded by plump, gangly birds expecting to be fed.
Lots of people bring bags of white, sliced, supermarket bread — surely the most ghastly food invented by man — to feed these charming creatures who, incidentally, are all owned by the Queen.
The swans pile in with gusto, as do countless terns, gulls, pigeons and, given the chance, 50 or more snow-white geese.
Our river is a wide, flowing waterway with masses of nutritious waterweed housing small water creatures. The swans also have acres of grassland to graze on. Why then do they scramble for stodgy human scraps?
The answer is that people with bread are their welfare state — the “something for nothing” option. They don’t have to turn upside down in the water to feed off waterweed, or lumber up grassy slopes to munch on tender green shoots. Anything is preferable to hard work, as we know, never mind that their natural food is organic, wholesome and good for them.
When generous benefits are given out like Smarties by the State, aren’t they turning recipients into subservient animals?
John Evans
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At Davos today, Gordon Brown warned that countries should not resort to protectionism to remove their economies from the global slump.
Geopolitically we find ourselves in unaccustomed circumstances as we head into the New Year: the Anglosphere — Britain, the U.S. and Australia in this case — is dominated by the left, while Europe is firmly in the hands of the right — France and Germany, in particular.
What a day to have a birthday. With the world and its future darkening visibly around us, and crunch turning to munch, we’re all seemingly heading for lunch on a plate, not seated at the table.
