George Monbiot ‘s article in the Guardian today (11th of October) explains in some detail what I have always felt about the economy and the causes of the economic crisis. The essence of his article is by propping up the banks in the expectation that through their leverage system they will lend more money and thus help the wider economy to climb out of recession is false. He maintains that it would be better just to give the money direct to ordinary people so they can pay off their debts, get both the banks and the economy back from the brink and start the country working again. This is because the banks themselves have become soaked with dodgy worthless loans (foreign and otherwise) that they are not likely to be repaid and any money you give them is first used to shore up their poor financial position.
In pigeons we make a similar mistake - Indirectly, either one way or another, the pigeon establishment has propped up various studs in the hope that sales of their stock will bring in revenue and therefore rejuvenate the sport.
As in the wider economy, our own establishment is committing a similar sin. In our case we are putting the welfare of studs before fanciers and racing and those age-old competitive instincts that are designed to find good pigeons and subsequent vitality in the sport, are in fact getting lost.
Finding good pigeons through competition is therefore the essential key to good health. Finding good pigeons through advertising is not; but that is what we have done. Any non-racing stud is bound to own a higher proportion of inferior pigeons than a highly competitive racing loft that is testing all the time. Massive advertising, well labelled pedigrees and publicity deceives our minds so we have come to believe studs possess and own a higher proportion of good pigeons than do racing lofts.
Thus, the kind of information that can be obtained from looking at results has gradually come to be seen as inferior than that which can be obtained by studying adverts. The end product of this use of publicity is that the modern pigeon sport has become one of advertising, selling and inferior pigeons rather than one of competition, results and superior pigeons.
The Pigeon Economy