LOOKING at the business news it is clear that before we have overcome the last financial crisis another one is looming.
Like the last one the main cause is international, but there could have been more preparedness by our Government.
The last crisis came was under Labour and it seems poetic justice for the Conservatives to be held responsible for the one almost upon us.
For a long time now there have been good times and bad. In capitalism there are booms and busts of production and business. Before that it was a case of harvests, some good and some bad. Local conditions, mainly the weather, were the determining factor.
Now we are in an interconnected global economy.
A restructuring in China has had worldwide repercussions. In 2008, the problem was irresponsible banking and the investments based on optimistic expectations.
These expectations were as optimistic as the forecasts the chancellor George Osborne uses to decide his spending priorities.
This impacts on the resources available for local councils like Darlington and much treasured amenities which have to be abandoned. But local politicians happily blame the other side.
G Bulmer, Billingham.
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