This post taking account of the links is one of if not the longest since beginning this blog. The intention was another topic but as ever something else took over.
Essentially, we in the UK and the USA is not much different in having economies now that are so distorted and reliant on money chasing money that we are weakened at least and highly vulnerable at worst.
One of the key features of the UK, and other economies is that a major part of one sector has come to have a size that is a large proportion of the economy and with that comes often power and influence over both government and almost all other sectors.
The dangers of this are real and are discussed in UK terms in a special edition of Tax Justice Focus linked from the Tax Justice Network which deals with the the dominance of finance which has several related articles and is a major read needing time and thought.
We are being told and have been repeatedly for a while now that the financial sector is in the hands of the wise and the wary and the problems have arisen because of events and other matters.
Given that our governments etc. have bought into or have been bought to pursue this line of thought and have packed their advisory and related bodies with them they cannot be avoided.
There is another view about this, and a longish article by Frances Coppola claims that bankers and traders are useless and therefore cannot be left in charge of all the major decisions or from the sound of it any decisions.
Just to finish off with is the suggestion by Money Week that the UK is in ever increasing trouble and may be too far gone to save, in short it says we are all doomed in a long article which may not be to every person's taste.
Especially those at all the party conferences who have begun the bidding war using public expenditure to buy the votes for the coming elections.