Honest and responsible people when considering whether to make a purchase such as a house, a car or a new refrigerator are obliged to take time out in order to analyse their financial position.
This analysis revolves around the individuals' monthly income and expenditure eventually hinging on borrowing together with the affordability of loan repayments.
This also applies to businesses from the smallest convenience store to the biggest corporations. Every aspect of the balance sheet and the finances are investigated and all the possible assumptions and projections are factored into the calculation. Whatever the case, the laws of arithmetic will always apply and however much a particular product is desired, if it doesn't fit the financial analysis then the purchase is not made or a more affordable alternative is sought.
There are alternatives ways to acquire the products we may desire such as stealing them, stealing the money to buy them or by borrowing the money outside the rules of arithmetic regardless of the consequences. Such behaviour as we know, is irresponsible, dishonest and in many cases illegal.
In most cases there is no physical harm done and the amounts of money are relatively small but there are victims and they deserve to see the perpetrators brought to justice.
People and business owners engaging in such behaviour are punished either by fines and penalties or sanctions such as being disbarred from running a business and in some cases transgressors have been sentenced to prison.
Politicians engaging in such behaviour, and worse, are rarely punished, in fact the opposite is often true, they are rewarded with a non job which usually attracts a taxpayer funded salary with accompanying allowances and expenses or they are allowed to retire with their gold plated, index linked, taxpayer funded pensions the size of which is beyond the comprehension of the average elector they represent.
Despite being surrounded by the devastation they have caused politicians often carry on in their current position as if nothing as happened.
In the previous article it was revealed how 'progressive' career politician George Papandreou, the man who ignored the arithmetic in order to impose his perverted socialist ideology on the Greek people, destroyed the economy and impoverished the whole nation is now feted around the world as a wise elder statesman.
Perversely, George Papandreou has been appointed as a lecturer at the prestigious Harvard University in the USA lecturing students on debt and governance!
Greece and Papandreou was not an isolated case so the following is an update on the other incompetent politicians who's economic crimes are as bad if not worse than Papandreou and who also got away with their wanton destruction unpunished.
Great Britains' Gordon Brown and his thuggish enforcer Ed Balls were responsible for the unfunded expansion of the state, increasing borrowing beyond what the nation could afford and increasing the national debt to such an extent that future generations will be stuck with consequences long after Brown and Balls have met their maker.
When Gordon Brown was Chancellor of the Exchequer and sidekick Balls was Treasury Secretary they continually preached prudence while they were emptying the coffers. They repeated the claim that they had abolished boom and bust right up until the day that the economy went..... er.. bust.
They expanded welfare entitlements and made them available to ever more people while taxing the British people to saturation point. Their incompetence is as bad if not worse than the hapless Papandreou. To cap it all, like George the Greek, they are both hard left uncompromising socialists.
Gordon Brown was kicked out of office but remains a Member of Parliament and continues to claim his MP's salary, allowances and expenses even though he doesn't attend the House. It has been a year since he last spoke in the House and his absence has effectively disenfranchised his constituents who are currently without democratic representation.
Gordon Brown travels the world making huge amounts of money by using the contacts he acquired while in Office. His earnings are channelled into his private company where they remain opaque to scrutiny from the people and the tax inspectors.
Gordon Brown the uncompromising socialist and scourge of the wealthy is on course to becoming one of the millionaires he claims to despise.
Ed Balls remains an MP and is the Shadow Chancellor of the Exchequer. He is married to Shadow Home Secretary Evette Cooper, so with their combined taxpayer funded ministerial salaries, allowances and expenses they are seriously rich.
They are rich enough not to suffer from the consequences of their socialist policies that have impoverished the people they claim to represent.
Staying true to his socialist ideology Ed Balls opposes any policy which seeks to put right the damage he has done and he openly campaigns for more tax, borrow, spend and debt. If a general election were to be held tomorrow the polls indicate that in an act of suicidal stupidity the British people would elect the Labour Party into office and Ed Balls would take back control of the economy.
The descent of Ireland into bankruptcy and poverty was engineered by *Brian 'Biffo' Cowen, a boozer and pot smoker who was part of a political family which included his father and brother. As previously reported 'Biffo' Cowen ignored the rules of arithmetic and went on an unprecedented spending spree, spraying taxpayers on welfare entitlements and tax cuts in a successful attempt to bribe the voters.
He also increased the pay and perks of Irish legislators to the point where they were the highest paid in Euroland. As Biffo well knew this was financed by borrowing that would impoverish the Irish people for generations.
Biffo's punishment consists of spending more time with his family financed by a gold plated, taxpayer funded pension of $215,000 per year. The prevailing wisdom is that Biffo will lay low for a while before returning to public life and the gravy train.
(* I have been reliably informed that the initials BIFFO stand for Big Ingnorant F*cker From O'Falley)
Italian politics has been mired in corruption for as long as anyone can remember and its only contribution to the global political scene is to provide us all with entertainment. Italy's reputation as an international laughing stock was confirmed with the election of multi billionaire entrepreneur and playboy Silvio Berlisconi as their Prime Minister.
His time in office has been mired in scandal and the list of alleged crimes and misdemeanors include:
Abuse of office, Mafia collusion, false accounting, tax fraud, bribery, procuring under age girls for sex etc.
Observers of the political scene consider this to be standard behaviour for all modern politicians and in Italy it is positively an electoral advantage.
While Berlisconi was busy enjoying his wealth and celebrity his government was borrowing and spending Italy into bankruptcy racking up debts of 121% of GDP. The irony is that if Berlisconi ran his business enterprises like he ran the Italian economy he would be destitute.
Berlisconi was removed from office in a European Union coup and replaced by a Gauleiter. He is currently enjoying his billions but has indicated he is planning to stand for office in the next election.
The Spanish economic performance was proceeding normally but started to head south in 2004 with the election of Jose Zapatero of the Spanish Socialist Workers Party. While his government was busy ignoring the economic arithmetic and spending Spain to the edge of bankruptcy, Zapatero was busy with the global socialist priorities of removing Spanish troops from Iraq, continuing the war on tobacco and legislating for homosexual marriage.
Zapatero did not stand for re-election in 2011 but remains on the political scene as a member of the Spanish Council of State which is a consultative body for the government.
Any analysis of the mismanagement of European national economies can not be completed without scrutiny of the European Union and its leaders.
Briefly, the EU was the idea of post war 'progressive' politicians who dreamt of a socialist federal superstate that would compete with, and ultimately destroy, the hated United States of America together with its free enterprise system based on individual liberty and prosperity.
The EU is based on the old soviet model where power is centralised and used to control all aspects of life, public, private and economic. The EU bureaucracy churns out thousands of regulations every day to achieve this end.
The EU autocrats also believe that the transferring of sovereignty by stealth year on year will facilitate the eventual destruction of the nation states and lead to their goal of 'ever closer union' toward the superstate of their dreams.
The current leaders of this autocracy are the President of the European Parliament the life long German socialist thug Martin Shultz, the President of the European Commission, Portuguese autocrat and self confessed Maoist Jose Manuel Barosso and the President of the European Council the sinister Belgian totalitarian Herman von Rumpoy.
These three autocrats enjoy powerful positions that gives them control over the lives of half a billion people and yet none of them are elected and they cannot be removed electorally by the people they govern.
On the economic front the European Union is such a cesspit of corruption that its own accounts have not been signed off by the auditors for nineteen straight years.
In spite of this corruption and the fact that the European countries are suffering from economic collapse, insolvency, poverty and budget deficits, these three autocrats insist on growing the budget by substantially increasing the contributions paid by the member states.
The logic of these three lunatics is beyond comprehension.
They are insisting that the bankrupt countries who borrowed and spent themselves into oblivion and who are forced as a result to impose severe austerity programmes at home are being ordered to borrow more money and hand it over to the institutionally corrupt European Union which has not had its accounts signed off for nineteen years!
This insanity will drive these indebted countries further into poverty and for a longer period. It appears that the suffering of people of Europe will not come between these autocrats and their nation building agenda.
To the suffering people of Europe all of these politicians are no better than criminals who have escaped not only justice, but the consequences of their financially incontinent behaviour.
We can only live in hope that one day justice will prevail and they will be held responsible for the devastation they have caused.