Here in the UK we have been quite busy politically with the US presidential election and the US economic crisis. On top of that we've had the UK economic crisis, the national conventions of the three main political parties, the introduction of ID cards and are looking forward to the state opening of 
Parliament in November which should feature the most 
controversial Queens speech since Guy Fawkes.
Some of you have been able to cut through this chaos and realise that I have a special interest in seeing the US economic recovery package carried out successfully. Those people are correct if unable to 
identify my my motivation. In order to explain this I need to give everyone a sub 
GCSE economics lesson.
Macro-economic Controls.In the UK any private bank like 
Lloyds, 
HSBC, Barclay's, 
Natwest etc must first hold an 
account with the central, national bank called the Bank of England (
BOE). As with any private bank 
account the account with the 
BOE allows a private bank to deposit the money it gains from it's operations and borrow money for any of it's future operations. This loan facility gives the 
BOE and it's governmental backers something called a macro-economic control 
mechanism in the form of interest rates. These interest rates get in the news on pretty much a monthly basis as the heads of the 
BOE meet to discuss what level they should be set at.
If the government wants to have less money 
available in the UK economy they simply raise these interest rates forcing your bank to in turn raise your mortgage rate increasing your monthly repayments and 
leaving you with less money in your pocket. Conversely if the government wants more money in the economy they simply cut those interest rates with the opposite effect.
A Little Bit of History.In the olden days when the landed gentry rode black horses through their fields, the poor died young in dirty factories and everybody knew their place this system worked very well, for the landed gentry at least.
Then in the early 1980's an uppity Prime Minister came along and 
de-regulated the 
financial services industry leading to an explosion of wealth and productivity. This event was known as The Big Bang! and the comparison with the creation of a new universe was not overstated because over the next ten to fifteen years the changes were dramatic and wide reaching. 
Britons were 
allowed electricity in their homes 24 hours a day 7 days a week. Millions were allowed to own their own homes for the first time ever. Money suddenly became 
available to develop new sciences and technologies. A generation grew up able to stay in 
education up to university and beyond. Women were finally allowed to fully enter the workplace and if the government were that way inclined there would have been billions 
available to spend on our 
health service. Most importantly some of the private banks became so rich that they were able to absorb any changes in the 
BOE's interest rates without passing them on to their customers.
You would think this new world of 
opportunity and prosperity would make everybody happy and it did. Everybody that is except for the UK civil service who hated it and hated it with a passion.. Partly they hated it because it went against their departmental policy of managed decline - running down the UK at a such a slow and gentle rate it's citizens don't really notice. Partly they hated it because this new universe was too big and complicated for the diseased little minds to cope with but mainly they hated it because it meant they were no longer able to dictate who in the UK would be rich and who in the UK would be poor.
For nearly twenty years they sat and seethed quietly plotting a day when they would be able to once again convince themselves they're the cleverest people in the country. In the election of Gordon Brown, an old school socialist Prime Minister with a seemingly psychotic desire to control every aspect of his citizens lives, as leader of the Labour party which spent ten years 
losing to Thatcher's Conservative party the 
civil service found an unwitting ally for their plotting.
The Big Bang Project.As the credit crunch started to bite 
Britain's government started nationalising banks. This started in 
January 2008 when Northern Rock and its 10% of the UK mortgage market came directly under state control. This weekend Bradford & 
Bingley with it's 6% of the 
mortgage market met the same fate and came under the control of the government.
The most interesting of the UK bank takeovers came just as Sarah 
Palin announced that Bristol would be keeping her baby, 
Croydons trams crashed while a delegation 
form the French government were inspecting the system, my grandmother was in hospital, the channel tunnel caught fire and the Large 
Hadron Collider fired up hoping to re-create the big bang. Here Halifax Bank of Scotland (
HBOS) with it's massive 20% of the UK mortgage market was brought out by 
Lloyds-TSB in a deal so large it actually needed the government to waive competition laws to allow it to happen.
Apart from it's sheer size the deal also raised eyebrows because nobody could quite 
figure out just why 
HBOS was in so much trouble. After all it was safe bank with a very large book of good mortgages backed up by a large base of deposits. In fact the only risk that 
HBOS appeared to be exposed to was that it had recently been caught trying to pay my grandmothers gas bill for her so everybody thought that it would be next on the chopping block to sate the state seemingly never 
ending blood lust.
Suddenly their cash flow dried up and within a week they were 
swallowed up by 
Lloyds-TSB a much smaller bank with an 8% share of the UK 
mortgage market. Like 
Barclay's bank 
Lloyds has long been a loyal part of the UK establishment and is the bank my father has used all his working life.
The Result.With around 60% of mortgages in the UK either directly or 
indirectly under central government control the governments economic control mechanism is backin full force and it has become clear that the 
UK's response to the credit crunch was to panic and nationalise everything in effect withdrawing from the global economic system. This is very bad news for the UK because the 
financial service industry is very much the goose that lays the economies golden egg 
beign one of the largest and most 
porfitable industry.
The one thing the UK 
Treasury were hoping would mitigate the negative effects of their tactic admission of failure was that amid all the chaos and confusion the deadlocked US senate, which the UK helped to produce, would either fail to pass a solution or would only pass a solution that involved massive amounts of government intervention and reams of needless market 
regulation frog marching America down the road of socialist intervention and dragging it down to the 
UK's very low level.
What they didn't count on though was that the US Treasury with it's greater 
finesse and understanding of micro-economics would come up with a relatively 
cheap and simple 
solution that would end the economic decline with the barest minimum of government intervention. If that solution is 
implemented it will be incredibly bad news for 
Britain, very good news for the United States. It will also be amazing news for me because it will just reinforce the fact that all those UK agents who've caused me so much trouble are really doing is racing each other to climb to the top of the shit pile.
So there you have it. I have a vested interest in seeing this recovery package passing and I have a vested interest in seeing 
successfully improve the US economy but then why should you believe me after all the Brits have been 
leading a year long operation to convince you that I am your worst enemy.