UK must get rid of zombie banks and companies to restore growth

The UK economy has contracted for 12 of the past 15 months. Yet, for now at least, our biggest banks – desperate not to crystalise losses on existing loans – have turned a blind eye, keeping thousands of “zombie” companies going. That’s seen as positive by some, given the “breathing space” it provides. Yet the reality is that, right across the economy, scarce resources are now tied up in unproductive uses, stymieing Schumpeter’s “creative destruction” and condemning us to anaemic growth.

8 comments on “UK must get rid of zombie banks and companies to restore growth
  1. Centrifugen says:

    Yes, well good luck…

  2. Banking Thiefs says:

    Quantitative Easing = Suspension of Capitalism.

    Let the weak hands fail and a stronger hand will take over the assets. That’s capitalism!

  3. MonsantoUSAbioterrorists says:

    Dont count on it. England is stuck in a death spiral like Japan. But contrary to Japan, England has no industry. and the beauty of all this is that North Sea oil production is dying off also.

  4. MonsantoUSAbioterrorists says:

    England like USA are tyrannies.

    http://tv.naturalnews.com/v.asp?v=C9B5D23E28F3E6102E782D35B304F2F8

  5. Peter Jennings says:

    The Shysters and politicians have been deflating the economy for years on purpose. They are doing it bit by bit so there is no rapid collapse and the frogs are keep quiet. The target is the same though, so Prince Philip(born a Greek but ended up a nazi, from germany) might get his wish.

    Good luck all and WAKE THE FUCK UP.

  6. susan says:

    @Max:

    You should have copyrighted the phrase ‘zombie banks’. Did you?

  7. Trevor Morgan says:

    So have the Barclay twins had a row with their bank manager???

  8. daddy warbucks says:

    UK people; How is the IMF and World Bank (agencies of the UN) helping you, while most UN employees pay NO TAX?

    How is the UN gaining dominion over your country’s sovereignty while punishing you with regulations?

    How is the UN back door funded in your country?

    “The UN & its agencies are immune to laws of countries where they operate” – Wikipedia

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