Don't panic Mr Mannering!

Mervyn King, (Arthur Low look-alike) and Head of the Bank of England, now says that Britain is facing the worst financial crisis
'Since the 1930s, or ever!'

The bank put another £75 billion into the system (£200 billion last time) to sweeten the international market and keep British business from sacking everybody in sight as consumer spending collapses.

Two days ago Cameron was about to tell us all to pay off our credit cards. It got into his end of Tory party conference speech until his advisors learned about the latest slowdown - then it was pulled on the day. Instead, the Bank of England just fired its billions to keep some spending - any spending - going. Cameron is a piece of flotsam in a gathering hurricane.

Globalisation, much loved by Messrs Blair and Cameron, is running riot.

The painfully built politics of the European Union, of Anglo-Saxon capitalism and the North Atlantic pact, of renowned British political stability are all shacking to their roots. The whole political edifice of capitalism's long life is about to go through one of its periodic convulsions. The volcano is active again. It will first find its weakest points. And then it threatens to blow its entire political crust into dust.

The only question is, which class of people in the world can put 'globalisation' first back under control and then set about creating long term security? Who, through their daily labour, as the old adage has it, by hand or by brain, create the world in the first place? Those who make it - or those who sell it?