Opinion – Sterilisation horror reveals India’s mothers risk lives for $11 – Sydney Morning Herald – John Gelmini

Dr Alf makes a good point ,which is why IMF and World Bank funding now goes to good causes in Africa directly rather than into the hands of several corrupt African dictators.

India has endemic corruption and is poorly run, so all aid from whatever source should go to the needy directly.

In the case of the UK, which is £1.3 trillion GBP in debt, there should be no aid given to anyone, and the Minister along with David Cameron and the unnecessary civil servants within that Ministry should be sacked, in my view. Then, of course, there  is the massive level of aid administered by the European Commission but that’s another blog!

Ebola and diseases which threaten the UK should be dealt with by our military on an as needed basis but saving £12 billion gbp a year on aid alone, plus the cost of the department would be an excellent place to start reducing the deficit.

John Gelmini

Opinion – Why are the Conservatives so incompetent at running the economy? – Mainly Macro: Simon Wren-Lewis – John Gelmini

English: Banks Furious As Shares Tumble, Eveni...

English: Banks Furious As Shares Tumble, Evening Standard, London, UK, 7 October 2008 (Photo credit: Wikipedia)

Rarely do I disagree with Dr Alf but on this occasion I cannot see that the last Labour Government handled the 2008 financial crisis effectively.

The narrative we were fed at the time was to the effect that the banks had made toxic loans, did not trust each other and that all the money had disappeared.

Then we were told that WE had to bail out the banks.

We did this twice and then several years later, we learn that the banks have been manipulating LIBOR, the currency and the prices of other commodities.

We know that a tiny minority of people doubled their wealth literally overnight and that their were huge capital flows through hedge funds and then through 40 different tax havens before transmutation into gold, gems, real property and art.

The bankers and those who gave them their instructions walked away scott free and are still at large. The Coalition have also done nothing about this situation but have manufactured a temporary housing boom.

Not one of our politicians is up to the task of reforming the UK’s finances or competitiveness, so Simon Wren Lewis needs to level his criticisms more widely.

John Gelmini