And we're off...

Hello and welcome to this, my opening post on this here blog. I figure I may as well just jump straight in. For those of you who prefer a sunnier outlook than that which is imminent then stick about baby, I'll probably be writing about Obama in my next post.

So, these ads that you see on bus stops, the benefit fraud ads that say "WE'RE CLOSING IN..."

What, to "seal my doom" like Michael Jackson?

Fuck off. I find those ads so offensive.

I did a bit of research, only a little bit mind...

The National Audit Office figures show that the average amount spent on benefit fraud per year since 2000 has been £1.25 billion. It's a lot of money and I understand the need to tackle the problem and to stop people from conning the system like that. £1.25 billion would do a lot of good in the health service on in schools.

BUT. I don't see any ads down in Kensington saying "Bankers - We've got your number..." or "Dodgy Hedge Funders - Time to be trimmed..." No. You don't see those ads. Maybe the walls of the toilets in all the private members clubs in the city are plastered with them, but I doubt it.

And lets look at how much the behaviour of the bankers and traders has cost us this year. Hmmm according to what I could find so far, since last October, the treasury has spent £87 billion and made £450 billion available to underwrite loans and debts for the banks in order to try and get the wheels turning again. That's £520 BILLION. And that's not to mention all the other things the govt will end up helping with like energy supply and the transport companies. Apparently some people think it could end up costing well into a trillion. I have absolutely NO idea what that amount of money must look like.

Anyway, back to the point...

Benefit fraud yearly average: £ 1 250,000,000
Bank bailout (official only figures only): £520 000,000,000

The bailout would pay for FOUR HUNDRED AND SIXTEEN YEARS of benefit fraud.

So who are the real criminals?

Don't get me wrong, I am in no way condoning benefit fraud. It's naughty, children, and you shouldn't do it. But come ON. These arseholes in the city have fucked everything RIGHT up for everybody and barely anyone is talking about it. I have no idea what this recession will be like but as far as I can tell they're not exactly a barrel of laughs but I'm guessing that they're not so bad if you're a rich banker. Not the cannon fodder floor staff, I mean the guys running things.

I understand so little about economics and I struggle to keep up with all the financial talk but seriously, does no-one else think we've been stuffed a little bit? If you don't then maybe these might change your mind:
http://www.guardian.co.uk/business/2009/jan/22/darling-fsa-short-selling
http://business.timesonline.co.uk/tol/business/article5533488.ece
http://www.guardian.co.uk/business/2009/jan/27/short-selling-rbs-banking

Henry Paulson and his ilk aren't just getting rich by ripping us off, they are actively destroying stuff in order to make their last millions before the recession hits proper. Fuck. I just don't get it.

It's too confusing to think about any more right now but next time you see one of those benefit fraud ads just remember - 416 years.

Peace and Love

Joe

PS I forgot about te £50 billion that went to Northern rock so that makes it 456 years...