Why’s the world going bankrupt, and more to the point, governments? Well Godfrey Bloom, a former British politician who served as a member of the European Parliament for Yorkshire and the Humber between 2004 and 2014, says the answer’s quite simple. Bloom also represented the UK Independence Party in the European elections of 2004 and 2009 but was an outspoken politician.
The UKIP withdrew the party whip from him in 2013 for having struck a journalist, threatened another and apparently calling a female audience a bunch of sluts. Bloom resigned soon after. But the video below, from a 2014 discussion in the European Parliament, highlights a beautifully simple lesson in government spending as given by Bloom.
He went on a tirade as to why governments and central banks were going broke, and wastefully spending tax payers' money. It’s a simple economics lesson that many government officials should take the time to watch, or read as the speech is transcribed below. – Stuart Lowman
Read full speech
HereSpeech (Youtube Video)
