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Patrick L Young Newsletter The Frontier Financier - Prologue
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In Patrick's Opinion

014
The Great British Decline

 

“Does anybody seriously believe anything will change? Our (non) Justice Secretary, Kenneth Clarke, has already nailed his colours to the mast. David Cameron's rhetoric (sadly) will be no more than hot air."
Keith Moore
 
“Once a riot starts, the people caught up in it realise an important but disturbing truth: social control is based on bluff. It is impossible for the authorities to be everywhere at once, and most of the time, they can’t stop people who are determined to loot other people’s property and possessions from doing so.”

Alasdair Palmer
 
“The last two decades have seen a terrifying decline in standards among the British governing elite. It has become acceptable for our politicians to lie and to cheat. An almost universal culture of selfishness and greed has grown up.”

Peter Oborne
 
Dear <<First Name>>,
 
The breakdown of law and order with massed mobs terrorising England was a predictable result of dismal government. A central trait of New Labour’s Stalinism involved reporting dubious rises in tractor production statistics. Debate on law and order was stifled as a racist affront to the delusion of “Cool Britannia.” Thus the politically correct response of a nation held in thrawl to outmoded leftist lunacy has often been one of ‘blamestorming’ without recourse to meaningful resolution. Despite Blairite assessments of giddy educational achievement, the truth is that British teaching is frequently rubbish. Those who doubt the decline in British education only
need to address the alarming number of apparently educated folk who trill out “government cuts” as the root of all problems.
 
In 2010 the British government spent 694 billion Pounds, this financial year it is scheduled to spend 710 billion. With many ‘educated’ folk clearly incapable of doing basic maths to identify budget growth, it is hardly surprising that Pret a Manger likes it BLTs to be brokered by numerate Poles, Spaniards and other “New Europeans.”
 
The UK lies on the brink of being a failed state. Bureaucracy cripples initiative and growth. Taxation erodes the incentive to take risk. Work hard and the state has no demonstratable
power to save your assets. Moreover the law punishes property owners who try to defend their property. Then the government seeks to switch off the very electronic media they lauded for during the Arab spring. The virulent riot culture that has frequently been allowed to disable the fringes of the Union are now eating at its very heart.
 
Lack of discipline in schools, and an absence of police power to crack down on rioters are somehow not the fault of a daft ‘looney left’ agenda which has weakened the power of family
and created addicted ‘clients’ disincentivized from working by a hideous benefits ‘culture.’ This school of thought has led to fixed penalty fines for shop lifters. And chaos.
 
For those of us who opted for de facto political asylum having accurately predicted the coming madness of the “Nulab” machine, it is tragic to be proven right. To see the diligent persecuted at the expense of feckless thieves is unbecoming of even a third world nation. Yet a third world future looks increasingly like Britain’s destiny. True, some things are still working well in the UK... Despite much concern about racism, Britain’s youth appear very well integrated - as evidenced by white and black youths standing side by side as they looted and pillaged.
 
Once any nation fails to recognise, let alone police, the concept of right and wrong it has failed. A corrupt Parliament oversees a disastrous ‘system’ of bloated, mismanaged state resources
with nobody responsible but everybody else to blame. Increasingly Britain looks like Argentina on its giddy descent to hyperinflationary post war melt down, right down to the design of the historic post boxes.
 
True, perhaps allowing the “glorious twelfth” to open with a ceremonial looter hunt in Croydon, might be going a bit far. However, Britain needs an outbreak of government. “Hug a hoodie” Cameron looks every bit as ridiculous as “Bling Bling” Blair whose tenure can at best be surmised as “tough on sound-bites and tough on the causes of sound-bites.”
 
The leadership vacuum is only accelerating what looks ominously like continued permanent decline. Society needs a ‘back to basics’ approach to growth, law, morality and a diminished role of government. With an unprepentant fiasco of an opposition and a shambling leftist tree-hugging charade masquerading as Britain’s government, I hold out few hopes. Make no mistake, Britain is on the brink of disaster.
 
I will return with some more positive views later in the week

With best wishes,

Regards,

Patrick


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It’s summer so I am at home in Monaco but thanks to a lack of political leadership in Europe, there have been ample opportunities to speak with the media. For my most recent videos from RT News channel, have a look on my newly revamped web site: www.patricklyoung.net.
 
Various projects are in the works currently with more news to come!

In the Media


About This Newsletter

Patrick L Young is the author of several financial market books such as "Capital Market Revolution!" and



 "The Exchange Manifesto" His Op Eds have been published in most of the world's leading financial media such as the Financial Times and Wall Street Journal while he has appeared frequently on BBC,CNBC, CNN and other digital media throughout the world.

My expertise is, (in no particular order!) exchanges, derivatives, market infrastructure and financial centres, as well as emerging markets. I can claim modest provenance as an early adopter on the web, having published various online magazines along with other WWW ventures since 1995. Nowadays I enjoy a varied portfolio of advisory work (most notably for investors in exchanges) but along the way I have done just about everything from multiple financial start-ups through to advising government and other stakeholders in financial centres the world over. I also indulge in some  entrepreneurial projects too. After more than 20 years in finance some folk might think I am due a spot of remission for good behaviour. I think it is clear from this bulletin, my passion for markets remains as keen as ever!

 

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