Damn, and I was going to do a serious piece, critiquing his conference speech. I was toying with the title 'straining out flies and swallowing camels', which is part of the problem. I also want to deride the mainstream reputation Cable enjoys for 'being right about the economy'. No, he was a quarter right, and not when it mattered. All he did was point a finger out the window and say it's raining. He didn't see the storm clouds gathering, neither did he mark the crimson tinge to the sky that fateful morn. Even less did he check the forecast from reliable sources.
Rhetorical question: Is it too much to ask for a government minister, for business no less, and a self-proclaimed 'liberal' to understand what the word 'capitalism' means? Or to use it in a context not wholly pejorative?
Capitalism and laissez-faire yet again trooped out for straw-man assassination, the usual association of free markets and greedy bankers. We can debate the word, but whatever he means by it, this speech is anti-capitalist, and the tragedy is that this is based on ignorance rather than ideology - not evil, just wrong.
We can all hate the bankers, but attacking the bonuses is straining out the fly. You have to look at the monetary system itself. You can't ignore the case for sound money, and if that's too fucking much to ask, at least recognise the mechanisms set in motion by the money - credit system we have, and understand the business cycle it provokes.