Sunday, April 28, 2013

UK Banking & investment and Idea # 108 is Absolutism

The UK economy continues to 'bump along the bottom' (as Ed Balls would say) and was pretty much saved from going into the much talked about triple dip recession by the service sectors continued strength.
One of the challenges remains around the investment in growth and although the banking sector now has a large portion of UK taxpayers money it remains wary of releasing funds  to where they are most needed.
The Co-Op bank with its strong ethical record was someway in to negotiations to purchase a reconstituted TSB from Lloyds group (mandated by the EU) but has now stepped back saying that the deal is not worthwhile at this time.
Not a casino - Ealing Co Op bank moves next door
Now I'm in a mixed mind about the failure to reach a deal I've been with the Co-Op bank for many years (having left Lloyds because I wasn't happy with it), We also had a TSB account (now part of Lloyds bank) so potentially (perhaps) we could have moved what is now a Lloyds account back to what it had been a TSB account (as part of a bigger Co Op bank).

Other entrants to the high street banking sector are now beginning to emerge the Metro Bank is one example and Bank of Dave is also waving a flag for a more dynamic community based service in Bradford.

Perhaps there's a disjoint between the expectations of casino capitalism and the benefits of growth and full employment  that a more radical solution could bring- my feelings are that energy saving investments and new housing deserve focus these could help people's quality of life as well as triggering greater high street spending.

More sowing

Yesterday I managed to put up a little cover for fledgling plants(right) and also sowed Radishes and Beetroot - it's really amazing to have so many seedlings around the place!

Idea 108 Absolutism

 Absolutism means that the ultimate authority in the state is rested in the hands of a King (or Queen) who claims to rule by divine right. It is a form of government in which the ruler is an absolute dictator and has complete and unrestricted power in government. Since the Kings (or Queens) received their power from God, their authority was absolute. Under absolutism the King (or Queen) has the power to make laws, administer justice, control the state's administrative system, and determine foreign policy.
King James I of England considered that ...

'the divine rights of Kings was about the belief that the King (or Queen) had a royal absolutism on their people and believed that  his (or her) right to rule came directly form the will of god and anybody who oppose it shall be a traitor to god.

(King James I was succeeded by his son Charles I  who battled with Oliver Cromwell in the English Civil war so a good lesson perhaps) - nice video of the times of Absolutism below