Pigs, Dogs and Sheep

John Redwood, an eminent NMFT, has coined the acronym DOGS - democratic overspending government sovereigns - to describe another regrettable feature of how we are governed today, by political classes who have traditionally believed that borrowing will always cover the gap between revenue and expenditure. Or, may I suggest, will cover that gap long enough to see their time out.

Thus we see the second element of a potential common thread, the first being the PIGS as comprise the overspending and effectively bankrupt governments of Portugal, Italy Greece and Spain.

Now, for the third element, let us look to "Animals" by Pink Floyd, noting in passing that the lyrics of "Dogs" are remarkably cogent: "Then after a while/You can work on points for style/Like a club tie, a firm handshake/A certain look in the eye and an easy smile/You've got to be trusted/By the people that you lie to/So that when they turn their back on you/You'll get the chance to put the knife in..."

Which leads us to the Subservient Helpless European Electorate Populations - the SHEEP, who are roundly ignored by the political classes whose lifestyles they support and subsidise. But looking at the Eurozone crisis, we may well ask: for how much longer? And isn't there a triumphant passage in "Animals" where the sheep finally rise up, fall on their oppressors' necks with a scream, and celebrate the overthrow of the dogs? Food for thought...