PLAYING WITH NUMBERS.

Would-be economists love informing us about their theories on getting the world out of the current financial mess in which it finds itself. The BBC commenced a short series this week entitled: 'Masters Of Money', presented by economics reporter, Stephanie Flanders. Flanders is a contemporary of 'All Ed' (Balls) and 'Ed 'Thoroughly Modern' Miliband, making a cosy little troika of Marxists. Most folk interested in the subject would have guessed, that the first name out of the hat would be John Maynard Keynes. Keynes theory was always to borrow money to work oneself out of debt; plus the fact that the world cannot stand by and watch a nation wither on the vine, as was the case with Germany after the 1914/1918 war. The second aspect obviously proved to be correct; as history tells us of the rise of Hitler. Borrowing, however, is a far more contentious issue. When borrowing, the repayments are always going to be more. To honour the debt, therefore, a vibrant financial services, plus a manufacturing base are basic essentials, not to mention plenty of foreign customers. Relying on buying our own goods won't do the trick, because we have to import the raw materials.

According to Adam Fergusson's book, 'When Money Dies', Keynes was way off the mark in his predictions for the outcome of the calamity that was the Weimar Hyper-Inflation of the early 1920's. Following the Wall Street Crash of 1929, Keynes was peddling his theories even more, and it could be that certain influential politicians were listening. Alistair Cooke certainly thought so in his historical series on America, maintaining that the two practitioners of the theory of spending your way out of trouble were Franklin Delano Roosevelt and Adolf Hitler. Ultimately it did Hitler no good at all, and many historians would suggest that it was WWII that saw off the depression that had devastated the USA through the 1930's.

The problem with such TV programmes is that they tend to miss out the fact that customers are essential. Should the Westminster Parliament decide to proceed with the high speed train proposal, for example, it would only be throwing tax payer GB's money away, as it will never pay for itself. Added to which, it will scar beautiful countryside.

THESE SO CALLED EXPERTS SHOULD STICK TO MONOPOLY.