It turns out the capitalists were right

As someone who sees himself leaning towards Old Labour rather than any of the current parties, I have always been sceptical about the promises of capitalism.

However,the current financial meltdown has proved its advocates are right about one thing - the drip down effect.

The problem is that the effect seems to hardly work at all in the boom times - the capitalists manage to get their buckets out and catch most of it before it reaches the rest of us.

But in bust!

The buckets are turned upside down over their heads and the drip down becomes a torrent of misery for the ordinary people who played no part in the decisions that created it.

And when they've all got over their nerves and restored the system, the bankers will pick up the pieces and restore their large bonuses and pension provisions, the gamblers who make money out of any misery will count their profits, and the rest of us will start from a lower base hoping for a little bit of drip down once more.