today they said

Manuel Barosso, President of the European Commission: "The financial crisis is centred on the United States but the ripple effects are being felt everywhere."

James Healy, President of The Heelers Diaries: "This tendency to blame America for everything is caused by a predilection towards vilification on the part of those whose knee jerk response to any international crisis is to instantly excoriate the United States for a series of spuriously alleged faults without every recognising the very great good, the inestimable benefits and enlightenment which flow to any country where the USA plays a part in the life of people, culture, society or nation. The financial crisis is taking place because of the improprieties, corruptions and massively amoral business models utilised in banks, financial insititutions, stock exchanges and governments worldwide. Some of these corruptions are similar and related to each other, some quite distinct. It is absolutely untrue to say that a credit crunch in the United States is causing the collapse or imminent collapse of banks and corporations in Europe and the world. Such reasoning leaves the governments and peoples of Europe and the world without any responsibility for their own malign incompetence and puerile profligacy. The cause of large company failures anywhere in the world is partly the excessive pay and remuneration which for decades has been slavishly paid over to board members and senior staff in all of these now threatened banks and stock exchange companies. The great men have received annual pay packets in the millions of dollars. Pay for what? Simply to set up the entire world banking system for imminent collapse? They have been paid millions for doing nothing. No one should be paid ten lifetimes' wages for a year's work. Or non work as in most of these cases. Here is the news. The Americans are responsible only for the corruption of their own banks and corporations. American governmental policy cannot be held responsible for the Bank Of Ireland paying its chief executive four million Euros last year. The Americans cannot be held responsible for the Irish government giving forty percent pay rises across the public sector, to nurses, bus drivers, teachers and policemen, who all got together to demand what was effectively money for nothing. We have brought this thing on ourselves. And that's just Ireland. Nor can the Americans be in any way held responsible for the profligate behaviour of British and European and Asian banks. You know what folks? The problem with the banks is not just mortgage lending. Oh no. The banks would like to phrase it that way so that at the very least a modicum of blame for their incompetence could be put on the general public who took out the mortgages. No, no, no. The problem with the banks is their aforementioned amoral business model when it comes to credit cards and lending generally. The banks have designed the credit card and lending system to entrap people into debt with a repayment schedule that is unlikely to be met. The banks make the preponderance of their credit card profits from punitive charges imposed to punish their customers for getting into the very trouble the banks expected them to get into by the very nature of the system the banks themselves had designed. Let me be a little clearer. The banks make most of their profits on credit cards, through the fines they impose when people can't afford to pay their debts on time. It's a shakedown. In the space of a decade, banks all over the world have created an adversarial relationship with their customers. As soon as we escape them we never want to go back. The old relationship of trust is gone. The problem when you treat people like this is that what goes around comes around. When it's the banks who are in financial difficulty, none of us want to know them. Okay. Why oh why, I hear you cry, have the share prices of stock exchange quoted companies everywhere on earth gone south? Could we at least blame America for that? Let me this way put it. Shares are worth nothing because board members of stock exchange quoted companies have been giving themselves millions of free shares as bonuses for sitting in their offices doing nothing. They have destroyed the integrity of the share as a unit of value. We pay for em. The board members get em free. It's over. I'm sorry gentle friends. I think the stock exchange system is going to crash completely. My advice to the citizens is to turn to God. He's real and he'll help us. The danger is that the atheistic corruption of big businessmen may yet push our free societies into a debilitating socialism. Or worse. Into communist dictatorship. One thing is sure. The jig is up for the stock exchange con job. It would be a tragedy beyond words if the banks and big business corporations were able to use our concerns about the dangers of socialism and communism, to persuade us to accept that we should pay continue to divvy up billions of dollars to keep them in the life, jobs, and pay grades, to which they've become so accustomed. Ay yi yi. At this very moment, share prices are being propped up artificially by the intervenionist bail outs announced by governments everywhere. I gotta say it. I think the governments are throwing good money after bad by underwriting banks and financial institutions that have already lost limitless sums of money speculating on the rise and fall of these non entities. Unfortunately for the citizenry, share values are also being artificially propped up by the fact that banks, financial institutions and stock brokers were the ones governments went to for advice on investing pension funds. This is the tragedy. The stock brokers advising the governments had a vested interest in artificially inflating the stock exchange. Across the western world pensions have been invested in stock exchange companies by governments who certainly have no right to blame America for their own idiocy. The pension investments cannot be cashed because to do so would cause an instant calamitous evaporation of the stock markets. A collapse that would make what we've seen to date seem like a romp in the park. Share values would simply cease to exist. Currencies might go with them. Yes. I think it will happen anyway. Inevitably. As long as the corrupt incompetents remain in charge of the big companies, this is what's in store for us. No matter how many times we bail them out. It's whats in store. Just maybe not today. And so to France. I'll be brief. Only the French themselves are responsible for the last twenty years of clownish socialism in France. French conservatives are even more incompentently socialist than French socialists. Their economy is a basket case. And Arabia? Fifty years of free money for oil and the lot of them still as poor as church mice. They're doing something wrong. Maybe if they recognised their women as human beings and stopped inflicting psychotic Islamic fascism on the world, maybe they'd make a few friends and have healthier economies. I would certainly counsel everyone in the free world to buy less Arab oil. You don't give a man money to buy bullets to shoot you. Or to buy suicide vests. Or to buy atomic weapons. Or to buy whatever is the weapon of mass destruction de jour among Al Qaeda operatives these days. That's what we're doing with the Arabs and Iran. Let them keep their oil. Start by putting ten Euro less of gas than usual in your car. Then make it twenty. Every time OPEC announces a production cut in order to drive up the price, take it out on them by announcing your own purchasing cut. Punish em. Use the car less. Walk somewhere instead. Ah the world is in a state of chassis. Iceland? Iceland's economy has tanked because of Iceland's abortion culture. That's right. Abortion culture. Iceland got in on the abortion routine before any other country, legalising the murder of unborn children eighty years ago, half a century before anyone else. I'm telling you Iceland has aborted its economy along with its citizenry. People are wealth. Africa? The Africans aren't poor because they've too many people. They're poor because they've too many one party States ruled by absolute nut jobs. Take a bow Mugabe. The Africans have no economy at all because they have been enslaved for fifty years to a satanic mix of Arab Islamic Nazism and Soviet style dictatorship. None of this was caused by America. Look. Harsh medicine will be necessary for all of us. If you must know I think the only hope for the free world is a return to Christian values and the empowerment of the ordinary citizen, whether as a business person, as a property owner or as a vocationalist. The solution to recession is pay cuts and retranching, not downsizing. It's interesting that the companies who favour downsizing as a solution to the recession are the ones who've being paying their chief executives the most dysfunctionally bloated wages. Downsizing should end. After a certain number of years a worker should have tenure over his job. It should not be possible to fire him. This isn't socialism or communism. This is civilisation. The Johnston Press should never be able to fire someone like me again. Yeah. It's all personal folks. The whole world crisis. The big corporations are collapsing because of the way they treat individuals. Those immortal banks and financial insititutions are all going bust because of what they've done to you and me. Once more with feeling. It's not America's fault. Manuel Barosso is a clype. Here endith the lesson."