Vir Cantium

I'm right, you know …

If Only They’d Nationalise the Weather

I was listening (well, Radio 4 happened to be on and I was in the room) to the News Quiz, that politically-balanced (cough) and hilarious (splutter) look at the week’s news.

One of the panellists was continuing the leftist meme of the last few weeks in describing the current economic turmoil as the “end of capitalism”. Yeah, you wish.

This is no more the end of capitalism than a hurricane is the end of the weather.

I’m sure I wouldn’t be the first to paraphrase Mark Twain in describing the death of capitalism as exaggerated, but it is strange how the reaction of the Left to the events has been to decry the lack of regulation, surplus irresponsibility and short-termism in the City.

As Boris said this week (in welcome contrast to his bonkers views on the licence fee) there is plenty of regulation already and we hardly need any more thank you very much. As for irresponsibility, isn’t it odd that while attacking bank bosses and short sellers, those who were at the heart of the current crisis – mortgage borrowers who knowingly loaded up with a dangerous level of debt – are not only being largely forgiven but are now generating another burden on the taxpayer, many of whom may have been a lot more prudent? I certainly wouldn’t be the first, of course, to point out Gordon Brown’s own irresponsibility and short termism, for instance, in borrowing to the hilt when times were good and selling our gold reserves at the bottom of the market, as well as helping himself to another dollop of credit in the vain attempt to buy off the voters of Crewe and Nantwich.

OK, rant over. I’ll go and finish packing now.

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