Michael Scales On Global Economic Crisis

Dear Mr. Editor,

 For as long as I can remember, when manhood decreed I was entitled to an opinion, I have always thought the Prime difference between America and Britain, was that America views the world as being in its own national interest and we in Britain view the world as being  in the peoples interest. Some would argue that in this, their is no difference,  but on closer inspection, I believe their is a vast difference. Empires come and Empires go, with the balance of power changing like shifting sands. For more than a century, the world has been driven by the American dream of wealth determined by profitability and mass production.... the essence of American capitalism and its mandate is fundamentally underpinned by the dogma of Adam Smith. Smith believed that Governments should only act in areas restricted to Security, Education and Law. That the citizen if left to his or her own devices would create the" Wealth of Nations" without the need for restriction or trade tariffs or abundant taxation and boundary protection.

What has fundamentally changed within my lifetime, is the growth of government to the detriment of the power of the people.

What we as citizens of the world have witnessed in the last 50 years, is the progress of information technology advanced by Global enterprise that is straining to become free, but remains depressed by Self interest government that has fallen behind the changing economic landscape.

In Britain we adore our heritage and our freedom and consistently challenge our politicians to give a straight answer. For a growing length of time, the politician has consistently found ways to avoid the question because basically, they have no answer. Government does not understand commerce that has grown to enormous proportion or the escalating complexity of computerized manipulation and International remote management structures. We cannot blame them for that. But what we can do is expect them to admit their lack of understanding to the complexities involved. So we can consider the antidote.

We British could not have imagined such colossal forces that would cause the economic catastrophe we are in today. Neither can we condone our political leaders abuse of an impossible wages and expenses structure, that was put in place by the very people we trust to regulate our Laws and taxation structure. I have much sympathy with our Members of Parliament who exploited the system to their benefit in " creative  " accountancy and poor accountability. All within these rules that were encouraged to supplement their poor wage structure. Members of Parliament deserve to be paid well for undertaking the nations health and well being. Yet in Britain they were shoved down a perverse road that has now seen many political casualties strewn from their seats as honourable members of Parliament.

The hard earned wealth of every citizen taken from our pockets in every conceivable method of taxation, was given to those bankers who were the criminal negligent in their greed, at the expense of us the victim of that greed. The banking system was considered as worthy of taxpayers money if only to safeguard the investor of the company whose money it squandered. It was understandable that government would take this course, but the nature of capitalism is that failure should never be rewarded or singled out for special consideration. The banking system and its insurers should have restructured or been allowed to negotiate with those institutions that were available to buy them out or to let them go to the wall.

The quickest way to recover the catastrophe was to allow market forces to determine the survivors. What matters is people and families. Everything should follow their protection and their welfare. Last month Britain lost 250,000 jobs America lost 600,000 with many more to follow in the months ahead.

It takes time to build a business...sometimes many years. Each business that is failing or being wound up or declared bankrupt in today's Britain will take a generation to rebuild.

We British are now paying heavily for imprudent financial accountability from every facet of

of government and its sworn duty to us the citizen. Governments, have followed American capitalism expecting the home of capitalism to remain steady in any forceful economic terrain. "America wobbled and the world collapsed."

America has much to do to regain International confidence. President Obama will visit Ghana in July..but will snub Nigeria. Perhaps America sees the democratic rock of Ghana as a beacon for the rest of Africa. Or perhaps it sees Ghana's oil reserves as a further source to bolster America's International interest. Do we view Obama's open hand policy as being even handed? or do we witness American interest over the rights of the citizen of Africa.?

As the man said in Banjul recently....I will not give Judgment on Obama's first hundred days.....I will speak when he has completed the first 1800.

Meanwhile the world suffers from a narrow bankrupt and corrosive philosophy that the dollar is more powerful than the protection of families. Myself, I view the opposite as the true intention of Gods Earth." Food for Thought"

                                                                                                       I remain Michael ..U.K.