Posted by: John | January 20, 2008

That shifty g*t

I have two minds when i watch political news – one as a Lib Dem and another as an ordinary swing voter.

Seeing Gordon Brown that supercilious devious grin joking with Richard Branson in China whom he just happened to `bump into` (yeh, right) made my flesh crawl.

I guess he’s going to `pull something out of the hat` tomorrow that will give no guarantees to taxpayers footing the bill who weren’t asked about Northern Rock. Except of course the hard questions will truly begin.

a) Why were failed management kept on

b) Why was no decision taken at the right time. Due to a possible election? Due to the fear of Nationalisation.

Sorry, the shares should have been stopped on day one of the fiasco as soon as a penny of taxpayers money had been put in. Either that or it should have gone under – but that wouldn’t have looked good for Economic Management.

The main problem is that Nu Labour have overextended the belief in how much control the Government can control the economy. So in the good times it’s all to do with Nu Labour – in the bad times it’s to do with USA Sub-primes/Credit Crunch/Global Economy (delete as applicable).

The real truth is that the Government haven’t told the truth about what’s underlying the house price increases – mainly spivs in the city, Russian Oligarchs etc, housing being seen as just a commodity and not a necessity and a lack of planning of housebuilding. Once the bubble bursts a whole lot of other bubbles will do the same. 

The problem with a boom and bust economy is that it promotes through the lack of credit controls the attachment to things as if it’s that that creates happiness. No one denies that having a comfortable home and a good job are not rightful aspirations – however, sometimes having money for some and spending it become a need in themselves.

Once the bubble bursts people get fed up with their attachment to things stop spending and hey presto!

The only hope really is a lower pound and exports. 

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