The budget is supposed to be thought great by the UK banks, and others in the financial sector, including the Bank of England governor, Mervyn King. If so, why has the FTSE 100 been on a downward spiral ever since? We are told that the financial markets like the budget. If so, should not the FTSE 100 be at least stable if not rising?
FTSE 100 - June 2010
It seems that since the budget things have got worse. Well, as shown in the chart to the left, there was a slight increase on the 29th June, then another decline and today a levelling out. How long will that last I wonder?
I’m no financial expert so if this a wrong assumption can someone please explain in real terms why this is happening? Can this all be blamed on the state of the European economy in general?
Either way, I worry. Initially, I was supportive of the Tory / LibDem coalition. That is fast disappearing. Not sure Labour would be better. Not sure if any party can now make a real difference. It all seems to revolve so much around money. Until that alters will there be change? I’m not saying we can ever get rid of money, but surely we need a better balance between money and the needs of people. It always seems if you haven’t much money you’re stuffed. Yes, the politicians talk about opportunities, but if you have no money, no capital how often can you rise above your circumstances. Sure, there will be a few people who are able to work the system to get ahead, but shouldn’t the system be there to help raise everyone up? I can’t believe only the few who succeed are the only ones who really want to. Things are supposed to have improved over the years. I’m sure though many would disagree with that thought? Yet, still there is so much more that needs doing to bring equality of opportunity to all.
So, the government say money is tight. Well, if the politicians really cared why don’t they give up more – what about their salaries, their pensions, their expenses, etc, etc. Sure, we have been given token gestures of them making sacrifices – if they really think state schools are that good, why don’t they all use them, if they think the NHS is great, why aren’t they forced to stop using private health care. Forced is a strong word, but most of the population are forced to use state schools, the NHS or suffer, etc. Again, its back to money. If you have money, you have choice – no or little money equals no real choice. You can choose how you react to circumstances, but you can’t choose between a state school and a private school if you have no money. You can’t choose between the NHS and a private hospital if you have little money. No doubt there are those who will say you can. If so, please explain? To bring in a little counselling thought, the choice is that expressed by Victor Frankl – “The one thing you can’t take away from me is the way I choose to respond to what you do to me. The last of one’s freedoms is to choose ones attitude in any given circumstance.” – so how should we feel about the free reigning of capitalism?
Shouldn’t the state be doing a bit more, helping a little bit more?