Sunday, September 28, 2008

Can I refer you back to my post in April ?

It is slowly dawning on the centre right that this is really a debit crisis, not a credit crisis ! ( Ok there is a credit crisis if you have a legitimate need for credit, but it is caused by the debt crisis ).

Reading Dan Roberts in the Sunday Telegraph today I can see this is beginning to sink in. ( The immediate danger is that the left controls the debate with their anti-capitalist knee jerk response - forgetting that it was Labour that had the close relations with the city ).

Can I point you back to my post in April which I copy below ? Just to show that the current problem could be foreseen and the underlying problem is a government that allowed too much debt to build up in the economy.

The man responsible for this is Gordon Brown.

It's really a debt crisis ! - Man in a Shed 28 April 2008

Told you.

I'm very pleased that David Cameron seems to have understood this based on his announcements today and yesterday.

PS George Osborne also is homing on in the debt issue - this is good news.

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