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26.10.08

Cornwall and the Credit Crunch

The Party for Cornwall is committed to a just and fair society. We believe that effective public intervention is needed to combat poverty, tackle social deprivation and fight for the disadvantaged. We will strive to build strong inclusive communities with free and equal access to well-funded education, healthcare and welfare services, run for the benefit of everyone.

From Mebyon Kernows' core values.


I can remember poorly defending the economic policies of Mebyon Kernow on Cornwall 24 against various conservatives and born again Nu Labour neo-liberals, but has the credit crunch and subsequent flurry of state interventionism vindicated MKs stance? Common were the mocking attacks on MKs 'outdated socialist policies', but don't these criticisms just seem a little hollow now? Perhaps they were nothing more than the wrong headed protestations of the last of Thatcher’s’ followers.

With governments around the globe stepping in to nationalize banks in order to prevent total economic meltdown and plans afoot to re-found capitalism, Keynesian economics seems to be back with avengeance. Certainly the Nobel Peace Prize for Economics going to Paul Krugman is a strong statement in favor of limited government intervention in the economy.

Perhaps we cannot find fault with Priminister Browns handling of the current crisis but we can certinaly criticise New Labours’ and the Conservatives’, up until recently that is, fixation with total economic liberalism and the financial industry.

Labour crowing that the crisis is a strong argument against Scottish Independence also rings of desperate opportunism considering it is partly due to their policies, and not those of Plaid, the SNP or MK, that have dropped us all in the shite.

2 comments:

Courtney Hamilton said...

New Labour did win the 2008 Glenrothes by-election - ok, it was New Lab's safest seat in the country, but it was a surprise win nevertheless. So, why did they win? I suspect it had a lot to do with the SNP's fantasy of transforming Scotland into a wealthy independent country, which the financial crisis has fully exposed.

Had Scotland been independent before this crisis, it would now be bankrupt as a nation - akin to Iceland.

It appears the people of Cornwall will have a smaller version of Scottish 'independence' to look forward to.

cornubian said...

Thanks for your comments.

People who rush to congratulate Mr Brown on his handling of the credit crisis make me think of dangerous driving; I'll explain.

Imagine you are on a busy country bus trundling along at a reasonable pace.

After a while you notice the bus has accelerated and seems to be continuing to do so. You catch a glimpse of the bus drivers face and you see a fevered inhuman look as the bus slams into bends and hurtles onward.

Then the bus is joined by numerous other vehicles all driving dangerously on a long open stretch of road, racing each other for no other reason than to be first.

Suddenly the lead vehicle, with US number plates, looses control and all those behind slam on the breaks, spin, turn or jack knife to a halt.

The bus you are in ends up in a ditch not the worst off but still battered with people on the floor, out of their seats and hurt.

The skill of your driver helped avoid a much worse fate and people start to applaud him for this.

You rush to join in with the praise the insanely dangerous driving forgotten.

But yes small nations should take on board the lessons of the credit crunch and ask themselves if European federation / con-federation would not be a much better idea than total Icelandic independence.

Europe bys vyken!