Recent British Capitalism : A Word Soup

Endowment policies, Personal equity plans Equity release schemes Private pensions Pensions windfall tax Gold sell-off Precipice bonds Absolute return funds Payment protection insurance Self certification 125% mortgages Unfair bank charges Unfair mortgage penalty charges Interest rate swaps LIBOR manipulation Arch Cru Equitable Life, Keydata, Farepak, Crown Currency, GP Noble Trustees, Tudor Capital Management, UK Expatriates fund, Rowanmoor, GFX Capital, Meteor Asset Management Defined Returns Ltd Nursing Home Fees Agency

Once more, and with feeling; as with practically every other crisis we are experiencing, we are living through a failure of ethics and public morality. This failure, fuelled in part by drugs (such as the cocaine of the financial classes and the cannabis of the political one), and in part by an unsustainable individualist liberalism, is being supplemented with a failure of critical thought. Our society has cut itself off from its cultural roots and has attempted to ignore the past in favour of a life in the present, based on future debt. It has thrown away tradition just as it throws away the elderly in favour of a parody of glamour and celebrity. We keep on wounding ourselves, even as what may now seem a ridiculous, ignorant and containable Islamism grows and feeds in the Mediterranean rim, in part on the back of our attempts to deny and defer our problems by exporting arms and bombs and pointless wars.

This sort of thing has started bad; it will end worse, and frankly, it will not go well in between.

Comments

Martin said…
Well said, Martin.

I sometimes feel I'm living in Acronymia.