Friday, Mar 09, 2007
Economy could be 'blown off course'
Guardian: Economic ill winds threaten stability, says Balls
Gordon Brown's closest economic advisor, Ed Balls has warned that the government's committment to stability is being severely tested by current global economic conditions. In his speech to the London Business School, Mr Balls said "The market turbulence of recent weeks demands that policy makers are continuously vigilant to potential downside risks and continue to take a forward-looking approach to policy."
Posted by jellycaster @ 10:17 AM (148 views) Add Comment
3 Comments
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1. sovietuk said...
Notice how the mismanagement of the UK economy is being blamed on fashionable buzzword terminology like "global economic conditions".
Ed Balls should be saying instead
"Due to our gross incompetence and short term policies that have mortgaged individuals and the state to the hilt we are now extremely vulnerable to the slightest puff of wind from downturns anywhere in the world. Because this government has helped to destroy our industries and our export capacity there is very little from preventing us from sliding into the abyss."
2. mrmickey said...
We import virtually everything including food, if we were faced with an emergency such as 1939 again the country would implode within a couple of weeks as we now have no domestic farming or other industry left that could support us.
3. enuii said...
Due to the Chronic Short-Termism of this bunch of Fake Socialist Shisters called NeuLabour the trigger could well be a minor event like a fall in the value of the pound against the euro which is already starting to slowly happen and with no industry left to benefit from it the effect will be compounded.