Back to the 70's with Gordon !

The pattern is now emerging of how an unrestrained Gordon Brown government will work. Tony Blair kept the mad lunatic locked up in the Treasury and stopped his more Luddite socialist plans. But now there no one to tell Gordon what to do socialist command and control is coming back with avengeance.

There are more 10 year plans knocking about than you can shake a stick at. The Bank of England has been bypassed and the powers are being prepared for the government to take over the banks when they think its necessary. ( Oh yes they say its only for failing banks - after all the FSA can run a bank better than its management can't it [ think of the FSA's past glories a bit harder if you think the answer to that question was yes ]).

You can see the scene - Gordon Brown standing on the steps of No10 announcing he has just taken control of the banks in the national interest and that all our money is now guaranteed by the government ( something that it says on the bank notes anyway - and its a lie there also ) due to the current finaial crisis. Some of the banks assets will be used to pay for the peoples services such as the NHS and police during the current crisis [really to pay public sector pensions] - but it will all be paid back, but just for the moment no one can withdraw more than £100/day from their bank. [ Do you think this is extreme ? Well its what happened in Argentina only a few years ago - remember Gordon Brown hasn't hesitated to spend £10Billion/year of future pensioners income fire hosing cash around an unreformed public sector ].

The left always wanted to nationalise the banks back in the 1970's - which is where Gordon Brown's new incomes policy comes from. Yes - the concordat is back. 3 year pay deals according top Gordon all knowing master plan. ( If they get away with 3 - it won't be long before they go for 5 years ). A canny trade union official was on the radio saying that if he meant RPI+ then all would be OK - but we know Gordon means either flat rate or CPI+ , ie transferring the risk of inflation onto public sector workers, which they won't stand for.

This also shows they know inflation is going to be a lot more shocking than they are letting on - yet still they push for the castrated Bank of England MPC to reduce rates. Perhaps they have a plan for an election this year before the disaster becomes all too clear.

Gordon's gone away for Christmas and come back with the Labour manifesto from 1979, and is busy sending the economy back there also.

Where is Mrs T when you need her ?

Update: John Redwood thinks Alistair Darling's of back to the 70's also in his post here. The comment I think is most significant comes at the end when he says;

"Unfortunately we have a Chancellor who sees his role as being part of the media commentary on the situation, instead of the key player trying to lift a losing team."

Quite - this is the root of much of Labour's troubles they think they are in power to win elections, hence they appoint PR gurus as strategic advisers and make policy to get headlines rather than govern.