Sunday, November 23, 2008

The irony of Gordon Brown's economic crash

If New Labour ( 'the project' to its supporters in the media and especially the BBC ) stood for anything it was 'the narrative'.

In 1997 they ensured that a negative label of 'sleaze' attached itself to the Conservative party - even through any wrong doing was just a few individuals ( and has been buried in examples of Labour sleaze since ).

Tony Blair had an election schedule with time to 'emote' for the camera every day.

In contrast to the 'mean' Tories with New Labour things would only get better as we all skipped along the road ( yellow brick of course ) to New Britain.

Labour had changed - revoking clause 4 (which they are implementing just now anyway - but hey who remembers that ?). Just to make sure Gordon Brown and prudence were going to follow Tory spending plans initially (of course that would logically be mean and nasty like the Tories - but nobody cared about consistency. Asking questions like that just showed how you didn't get modernising and were a Tory dinosaur. It also meant that Labour could latter boast about reducing debt - although forgetting to tell people it was with Tory plans ).

The Narrative mattered. It was how to get to votes who never read the small print, espcially fickel floating voters. New Labour types get most worried that they don't have a narrative any more. And whilst they sound like carbon copies of each other due to their central media training they all need a script - since what they used to spout had nothing to do with why they got into politics or what they used to believe.

How strange that now the economic challange is the narrative they are about to flunk it.

The death spiral of the UK economy may have been triggered by the credit crisis, but its being fueled by a crisis of confidence as people (and especially foreign investors) start to wonder how over a trillion pounds of personal debt will get paid back as job losses mount and house prices drop by up to 40%. They also question what the real government debt is - PFI, the banks, public pensions etc.

Any company that finds any cash fall on it like a starving man, because the bank won't be providing much more. Individuals are likely to come to the same conclusion - and the economic recession will deepen (BBC types note this means the same thing as you New Labour narrative about the 'Downturn' ). So when they see any more from 'tax cuts' they will hoard it(the New Labour word for save - shortly when it becomes apparent this isn't working).

What panic measures like New Labour's tomorrow (which are surrounded by lies and straight to your face/camera denials of the truth - like "this isn't a gamble" and "international experts recommend this" - they don't, only for countries without the earth shattering deficiet that Gordon Brown ghas run up with his own arrogance and vanity on our behalf can take those measures without considerable risk ) do is spook the hurd. Confidence is further lost and the downward spiral is reinforced.

Thats why the government behaving with restraint and responsibility would have been right - it would have promoted confidence in the narrative. Now thats bankable irony.

1 comment:

Brian said...

Pyromaniacs will watch the Fire Brigade tackle blazes to experience a sense of power and control that their inadequate lives do not otherwise provide. Odd how Gordon Brown has started smiling unforcedly since the economy went down the pan. Is he the only person actually enjoying the credit crunch?