Wednesday, 9 December 2009

Pre-Budget Report

Not seen much of this today: a full day at work and a whole evening Christmas shopping haven't allowed me to fully digest its contents.

Suffice to say that all the soundbites and headlines I've seen don't bode well for a future under Labour. Mr Darling lacks the political will to curtail his horrendous borrowing habit, only making minor tweaks.

What is clear though is the course that Labour have set their rigging for: One that can only include higher taxes and high inflation. The first to try and close the funding gap and the second to reduce the debt burden.

Not a very sound future ahead then. Very uncertain and uncharted waters lie ahead, with many risks, not only for the government, but mainly for small businesses, small investors, small savers.... you get the picture. Its not looking rosy for us ordinary people at all.

Remember, exactly the same inflationary policy was tried in the seventies, but it got out of hand rather quickly. No-one has yet explained how it would be any different this time around. Once the money men spot a wound in the flank of the UK, they will descend and devour us just like any predator would.

UPDATE:

You know, the more I think about this, the more I'm convinced that Labour are steering deliberately towards some financial brick wall. A financial game of chicken with huge consequences for millions of people. Once they hit the wall and we lose our AAA rating, suffer a bond market failure, have to go cap in hand to the IMF, etc. Whatever the reason, its always been New Labour's policy: to follow a path until someone or something else forces them to modify their behaviour. That way its not Labour that caused the pain: no, don't blame the nice Labour people, its the nasty IMF/conservatives/voters or whoever. Its just the usual blame-dodging from the government.

But at a huge cost to the country.

All for political reasons. I'm convinced that Gordon Brown would ruin this country completely for polictical ends. He would sell his kids, his wife, house, political party and country, he would set the whole nation ablaze and watch it burn to the ground, just so he can get one over on his political opponents.

1 comment:

  1. Your assessment is too near the bone for me Del. I think many have thought exactly this for a long time now.

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