Thursday, 6 May 2010
GENERAL ELECTION 2010
I would like all those who are undecided to walk with me - I am a natural Tory, but find Gordon Brown still the right guy to lead us. Think - think my friends, can you throw out the captain of a ship who has navigated us through troubled waters. Don't tell me they are waters of his own making... He is not leader of a system where he can stop and start economic activities, eg financial sector overshoot. This is a capitalist system characteristic. Shareholders have to correct it. The bank of England warned about it. That is the extent of the free market intervention.
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My comments to the Institute of Chartered Accountants Business Survey today:
We are sleepwalking to Disaster, and have not recognised what needs to happen, because what we need for the small firm is different to the requirements of the medium and large firm. We can see the conclusions of the survey accord with what Gordon Brown has summarised and his prescriptions are correctly based. A small firm said to him yesterday in the radio show, I am worried about the Greek etc situation, since the 3 or 4 dicey countries were his main customers, and he did not mind paying the increased NIC as long as he is still in business. I agree with him, 18 years ago John Major cut the spending, and people delayed their spend by a year - and till today I am paying the price. I used to spend a £1m capital spend a year, now zero. The cuts enabled Local and National Government to go for tenders where London medium sized companies supplied 100 machines at 2% profit, while my local Manchester firm supplied 2 or 3 machines a week at 15% margin were thrown out of the picture. So maintaining the aggregate demand without much change is better for the guy there. The bankers terms to Greece and the present EURO is the GOLD standard and remedies then revisited. We will now see in turn Dictators rising and finally war. That took 14 years but the process started in 1926. The Keynsian alternative not available then, due to weak government and lack of knowledge, and the bickering of world leaders on how to get out, was not repeated this time in Gordon Browns leadership. However its people and journalists have not recognised this great of greatest contributions by this man. I am a capitalist, but I cannot see the pitfalls that all the other leaders see in this man. he has been the true legacy from Thatcher whose government did not see that I was a new investor - could have been sitting on interest income at 5% then of £250,000 per annum and did two new businesses in the capital sector, and lost only because of the recession. These were not OLD DYING businesses that needed to be grounded making room for new technology! I am recording this for posterity, to see how a civilised nation walked to disaster. There is problems with bank lending, but as the liberals state, you will never be able to do it, it is communism in banks. What needs to happen is what Alister Darling has suggested - an appeal, and then from that will emerge another aspect. Our banks unlike German and other banks have left business banking undeveloped. We need to move to a situation where a banker sits on 2 days a month board (think and nimble 3i type of banks) of the small business, putting some money in for equity, and the rest in loans, with a chartered accountant or more than 1 also sitting on these boards, and regarding the cost not as a hindrance, but an enhancement of the business scene.
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