I just read this comment from 'peterbaldwin' on Robert Peston's blog. It's very well written - it's even spelt correctly:
"It is understood I hope, that Capitalism as it has been known during the last 30 years is all but dead. An immensely painful transition is about to get underway in the western economies. As a nation we can embrace the changes and help it along, or we can resist, thereby making the transition even more painful than it needs to be. At the moment, and I fear for the next few years, it looks like we are going to resist. We will keep borrowing, keep pumping money into a dead economy, and we will keep digging this hole deeper and deeper.
An enlightened government however would see the crass stupidity in this action and take a look to 10 or 20 years ahead and see where all this is leading and start planning for it now. For that is really what governments are for, the long term and not the short term, as unfortunately they all seem to be these days.
In 10 or 20 years the market economy must cease to exist. If we artificially keep it alive, then as a nation, and as well as a race, we will plunge headlong into total economic and social collapse as the accelerating environmental changes take hold and demand impossible resources to deal with them, especially if we want to keep our present day levels of consumption and living standards. The eco system can no longer support us.
So the future is a known quantity. It is a hot, hungry, dry and hard place to be. If the present way of life is to change, as it must, then it must change in a controlled way to meet the future we see coming. Economies, production methods, social systems and personal needs all have to be directed to a way of life that can be sustained.
Money as King is a corpse. Profit as prince is dead. What we are seeing at the moment with the tax payer directly and visibly supporting the economy and thereby our society. This will continue and become the norm, expanding into all areas of money and material production. It will not be called Communism, but rather Socialised Capitalism.
The trick will be to stop the taxpayer realising his power and keeping it in the hands of those who currently weld it. Until that trick is achieved, then the current pain will continue and deepen because the power welders will be scared of letting go and scared of change to the status quo.
When the transition is completed, then accelerating competition can ease and our focus can be turned to the real issues. Our very survival."
More on this, later.