Tuesday, 5 January 2010

The Seismograph Twitches

Its started to happen: the first twitches of the needle indicating the financial landslide into global obscurity for the UK happened today.

UK gilts are about as unwelcome as genital warts in the financial world right now, ever since it became clear that Labour's clever financial plan is to run up a colossal debt and then wait for self-induced inflation to sort out the mess.

Okay, at the end of it, our debt will be manageable again, house prices will be affordable again, but we're going to suffer possibly two decades or more of financial strife to pay for one term of incompetent government. In effect, the lifetime of my children, who are now moving into adulthood, will be wasted paying for the excesses of these monumental fuckups.

Thats the legacy of Labour: a whole generation wasted, who will be too old to enjoy it when we get back to the growth levels of the 90s (if we ever get back there). I hope they never, ever, get in power again.

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