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Fifteen years ago, the FTSE 100 stood at 6930. Today it stands at 5804, reflecting 15 years of the economic decline of Britain – an economic decline managed by by both Tory and Labour governments, assisted as and when necessary by the Lib Dems. During those fifteen years of stagnation, the rest of the developed and undeveloped world boomed and left the UK far behind.
On 1st January 2000 the German Dax stood at 6,835, slightly below the FTSE. Over the next 15 years the DAX soared to 11,996, a rise of some 75%. On Wall Street the Dow rose from 10,940 to 18,132, a rise of 68%.
The miserable performance of the UK economy has of course been reflected in the performance of the nation’s currency which in the last 15 years has fallen by 25% against the Euro. On 1st January 2000 you could get 1.60 Euros for your pound. By September of the same year it had gone up to 1.71. Today the pound stands at just over 1.32 to the Euro. And this is the Euro, the currency of a bloc of nations which it was thought and still is thought, has no long term chance of survival. But it has beaten the pound into a cocked hat.
Politicians and governments claim responsibility for a country’s success and similarly they have to accept responsibility for its failure. British governments have been crowing for the last 15 years about how successful UK Ltd has been under their wise governance of the economy. Every one of them was of course lying, they knew they were lying and they continued lying.
The latest in this long chapter of deceit is of course our present Prime Minister, David Cameron, who only a couple of weeks ago lambasted Corbyn in the House of Commons and then with a mixture of aggression and supreme arrogance proclaimed how strong and successful the UK economy is because of the policies of the present Tory government.
Within less than a fortnight government statistics gave the lie to everything Cameron proclaimed about the UK economy. The UK’s economic performance in November and December had been dreadful and showed yet another serious decline. The weakness of the pound since September had correctly foretold the plight of British industry and commerce but Cameron was still prepared to lie brazenly in order to try and score a point. His lies have not come back to haunt him because these unfortunately, are the standards which our politicians regard as an acceptable norm.
And meanwhile British industry fumbles on, the Banks continue with their massive frauds, unelected quangos which rule so much of our lives, ride the never ending gravy train, hospitals are fondly remembered as places where you went to get better, not worse and so on ad nauseum.
The UK is leaderless, a ship without a rudder and as long as we continue to elect liars to lead the country, our economic decline is likely to continue unabated.
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