Tuesday, January 15, 2008

the economy: skid row britain

Above: Sub prime blues hit bend in economy; reality.

Close the Banks (by schmook)

Close the banks, and repeal the slavery laws,
it's your money and your life.

Close the banks, before they make summer too expensive,
before spring is extinct.

Close the banks, they are a Vampire Death Cult,
Drakula is alive and well, in a branch near you.

Close the banks, and 'abolish capital punishment;
the people have always been punished by capital'.

Close the banks, 'their' capital is our time on earth,
the amassed toil of generations, stolen without pity,
we have enough laundries that don't work.

Close the banks, the Politicians Pimps,
the Multinational Vandals,
the Stooges of the Rate of the Dollar.
They make deals with genocidal murderers.

Close the banks, and open your hearts!
The money has all gone, so join the real economy

Close the Banks, this is one debt we owe ourselves.

Quicktime movie version with 'dub' sound track.

A typical example of what is hitting the banks & the world economy: schmoo just got off the phone with a debt collection agency who had been sending unsolicited threatening mail to the 'safe house'. Seems they purchased the debt of an ex resident from T Mobile who claimed 6 months unpaid contract fees (£100s). I told them they had just purchased a very bad debt: the person involved moved out three years ago - to go live in the Australian bush.

Reproduce this type of bad debt that will never be paid, in every dodgy neighbourhood in the Western world, and that is the problem. The amazing irony is that in some cases the financial corporations who lent the money, ended up buying the very same bad debts.

What we need to do is CLOSE THE BANKS (they are all broke anyway). We need non profit financial institutions dedicated to serving the interests of their customer's, not a load of shareholders.

Nationalise Northern Rock. Nationalise all of them. We need the People's Bank of Britain.

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