Clowns in Cool Britannia

I don’t know.  I think politicians should be people we look up to.  People who set an example to us all, not crooked rip off merchants.

Now, it may come as some surprise to hear that I’m not on about the latest corruption scandal flooding the pages of the Italian newspapers.  No, instead I’m on about the dishonest actions of members of parliament in Great Britain who have been exploiting rather flexible expenses regulations to the absolute maximum, and them some.

These erstwhile representatives of the people have been literally, and excuse the vulgarity, taking the piss.  The Telegraph newspaper has been revealing all via a series of articles which have caused one almighty uproar in soggy Britain.

It turns out that Britain’s political leaders have been making exaggerated expense claims for just about anything and everything, including toilet seats, would you believe.  One impoverished English MP apparently claimed around 2000 pounds sterling for cleaning the bloody moat around his country house!  Sounds like the stuff of farce. Read more

The UK is Sicker than Italy

Over on Man of Roma’s thoughtful blog, I made a bold statement. What I said is that the UK is in a greater state of decline than Italy.

Now, I can’t go around saying things like this without giving some evidence, so here it is.

• Senseless violence – stories of knifings and shootings seem to be an almost daily occurrence, and the culprits, more often than not, come from cultures which are not strictly English. This leads to the second piece of evidence.

• Appalling levels of integration. Britain opened the flood gates to immigrants many years ago, but did little else. Now there are Islamic terror cells springing up all over the place. I mean, was it a good idea to encourage people with such diverse religious beliefs to come to the UK? Or are we just seeing the results of yet more politicians who simply stay in power and do little else?

• State education quality is dire. The politically correct bunch have managed to achieve their dubious aim. This aim was to eliminate competition and make it easy for anyone with less than half a brain to obtain some qualifications. And just about anyone can get degrees now, and good ones too. Why? Simple, the universities receive greater funding if more people pass, especially if they pass with better grades. Even secondary education has become so performance oriented that quality is at rock bottom levels.

• Many English people want to leave the UK. English TV is full of programs about finding a dream home in any number of locations around the world. You can find more than a few Brits dotted all over the world, including quite a number in Italy. People are proud to be British, but pleased to escape.

• The formerly venerable House of Lords has become full of government cronies who are politically correct to the point of insanity. They seem to take respect for human rights to extreme lengths. In the UK now, if you come from some country with a crackpot regime, murder a few people, and are caught, you need have no fear of being deported. All because the lovie dovies fear that you may come to a sticky end in your country of origin. Really those who continue to practice their wicked ways need to be kicked out and face the consequences of their actions, then at least others would think twice about coming to the UK and wrecking lives.

• The great British bobbie has been legislated out of existence, just about. Would you believe that British policemen are actually leaving the country to find work in countries where their services are better appreciated? You can read more about the former English policeman behind the Copper’s Blog who is now in Canada in my ‘The Dark Side of the UK and the Free Press‘ post.

I’m sure others can give more examples as to why post-Blair Britain is no longer great. Do I think Blair did great things for Britain. No. If anything, the man dragged the place down even faster.

At the end of the day though, it’s not too much of a surprise that the UK should be spiralling downwards even faster than Italy. The UK is ten years ahead of Italy in many respects, which means it hit a trough more recently. And the UK suffers, in the same way as Italy, from that bane of modern society – the career politician.

Remember Neil Kinnock – former head of the Labour party? He hated people with posh accents, but with his knighthood, and all the dosh he makes from the European Parliament, this good socialist is laughing all the way to the champagne bar, as many career politicos do. They would make, sorry, are great actors.

You can say what you like about Italy, but at least the place has not become politically correct to the point of self destruction.

Does the UK have equivalents of Di Pietro and Beppe Grillo, or, even better Clementina Forleo? I’m a bit out of touch, so enlighten me. If the UK does not, it sure as heck needs them.

Sub-prime crisis Italian style?

By now, most of the world has heard of the crisis in the sub-prime mortgage market in the United States. Many will also know about what appeared to be the near collapse of a major British lending institution, the Northern Rock.

But what about the possibility of a similar crisis occurring in other countries, Italy for example?

On the surface, it does not look as though a sub-prime crisis could happen in Italy. After all, it would seem that Italian lenders are more prudent than their State side counterparts. Further, Italians do not generally take out huge mortgages as many property purchases are funded from family resources, inheritances and the like.  All seems to be sound, and risk levels appear to be low. One hopes so, anyway. The other evening though, I learnt something from someone which made me wonder whether Italy was as invulnerable to a sub-prime crisis as I first thought.

The other day, I was chatting with a union rep while having a pint down at the 442 pub. Now this chap, who works for a major multinational in Italy incidentally, told me that he knows of a few cases in which people who earn little more than one thousand Euros a month, have been managing to take out mortgages with monthly repayments as high as seven hundred and fifty Euros a month. These individuals had been coming to him because they were finding it very difficult to meet the repayments. And he gave me the impression that the numbers of people who were finding themselves in difficulties was increasing.  My initial reaction was, ‘How could a lender hand out mortgages with such high repayments to people on such a low salaries?’ In answer, I was told that when going through the mortgage application process, these people intimate that they have access to enough funds to be able to cover their debt, despite the high repayments. And this mere intimation seems to have been enough to for them to have secured mortgages. This is when sub-prime crisis alarm bells began ringing in my head.

Now, even though a potentially worrying situation could exist in Italy, I have to admit that I really have no idea as to the extent of this reckless lending, and, to be honest, whether any reckless lending has indeed been taking place.  I am after all, basing my suppositions on a chat with one union representative.

However, perhaps this situation needs to be looked into, so my worries can be proven to be unjustified, as I hope they are.  And preferably someone should start investigating this before it is too late.

I hope that the situation in the US has already got lenders here checking and double checking the level of sub-prime type lending in Italy is still at manageable levels.  Time, as always, will tell.

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