Man in a Shed: Bad news in 2008

Thursday, May 15, 2008

Bad news in 2008

Ignore what people are saying (especially Brown) watch what they are doing with their money:

Holidaying at home this year
Putting off house purchases
Delaying IVF treatment

Brown hasn't a clue. He inherited a fantastic economy - and slowly, stealthily - strangled it and weighed it down with the burden of an unaffordable public sector paid for with the stolen futures of UK pensioners. And as we see - yet again - he has no idea what to do in power, except play a calculating game of tactical politics directed by PR men who's sole aim is to keep their jobs.

The storm clouds are indeed dark, as Melvyn King has been trying to tell people.

2 comments:

Letters From A Tory said...: Brown has completely lost sight of the fact that the PM is supposed to do what is best for this country, not what is best for himself.; 9:47 am
Wyrdtimes said...: He hasn't even managed to do best for himself though has he?

Destined to have one of the shortest premiershits, despised even more than Thatcher - he's done himself no favours.

Good his reputation should lie in tatters. I spit on his name.

The only good thing about this flaccid bag of haggis is that he's put us on the path to a united independent England.

Can't happen soon enough.; 10:48 am

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The pound in your pocket

"We used to think that you could spend your way out of a recession and increase employment by cutting taxes and boosting government spending. I tell you in all candour that that option no longer exists." James Callaghan

“The trouble with theoretical economists is that they don't understand that when you have a deficit, you can only finance it by borrowing, and you've got to persuade people that it's worth lending money to you and that they'll get their money back... there's no way of escaping it.” Dennis Healey during the 1976 Stirling Crisis.

"Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens ... Lenin was certainly right. There is no subtler, no surer means of over-turning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose." John Maynard Keynes, 1920.

"To preserve [the people's] independence, we must not let our rulers load us with perpetual debt. We must make our selection between economy and liberty, or profusion and servitude." Thomas Jefferson, President of the United States of America,1801-1809.

Inflation is taxation without legislation .. Milton Friedman