Wednesday, March 21, 2012

False dawn I'm afraid

I don't know about you, but I detect a growing sense of optimism in the country. A feeling that the worse may be behind us. All the pundits say Greece will collapse again and need another bail out - Portugal is on the edge - the state is too big and the pension reforms ineffective.

Yes China looks financially a little wobbly, but suggestions are the stock market will rise - and gold is falling.

And yet you can't help the sunny feeling.

With the Queens jubilee and the Olympics coming it will only get more sunny.

In short its spring - and George is about to deliver his budget.

The papers say he may have more money to spend than expected ( if it isn't on tax cuts then his blowing it - but that's another story ).

But the fundamentals are still bad. The state too big, the people to unproductive ( sorry I don't mean we don't all work hard enough - we do - but millions don't and yet more are hampered by working in the wrong way or uselessly in the parasitic sector. )

Look at that debt clock top right - its still going up ....

... and the sands are still running out.

PS What would I like the budget ?

  1. 50p tax rate abolished.
  2. Reduction in corporation tax.
  3.  Faster reduction in the deficit.
  4. A proper acknowledgement of our real liabilities in the future.

1 comment:

James Higham said...

Very much is a false dawn. One of my City commenters tried to show how everything's turning around. BS - the indicators are otherwise.