Wednesday, Jun 27, 2007
Britain all Borrowed Out
Times Online: High street and housing market bit by rising rates
The Era of cheap money is over along with the equity funded high street spending spree, the hangover starts here and now and will last for years as Brown (Mr Prudent) leaves his former job of chancellor behind and takes the top job in the land.
Posted by enuii @ 08:30 PM (175 views) Add Comment
5 Comments
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1. denzil said...
Brown's timing is impeccable!
No doubt the media will blame the impending debt crunch and subsequent fall-out on Brown's successor.
2. Planning4acrash (previously Pr) said...
No way, Denzil. I'm sorry, but, by leaving interest rate rises until later on, we have let the rest of the world catch up with us. Brown will only let us crash if America and others are crashing around us. He can blame the global economy, he will blame China for inflation, the Yen carry trade for asset appreciation. He will smell of Roses and is not as stupid as most people on this site think. It is not in Brown's interest to have HIS chancellor undermined, so he will avoid that at all costs.
3. shipbuilder said...
The Tories can't possibly fail to win the next election - if Cameron can't nail Gordon on the economy then he doesn't deserve to be PM - not that he deserves it anyway.
Can't believe the choice is between these two muppets to steer the UK through the coming downturn. We're screwed.
4. Scott said...
The tories and labour are not the only choices. The Lib Dems, the BNP, the communists, the green party. If the downturn happens, any one of the minor league teams can swing it. Who would you prefer?
5. Planning4acrash (previously Pr) said...
Cameron is a Toff from Oxford with family ties to the Queen, with a narrow or vacuous agenda. Brown is significantly stronger and will win out, people will give him a chance. I predict another two Labour governments before the Tories reform from the top down. Brown can most probably get away with blaming the global economy for any mishaps by delaying interest rate rises until America starts to have a real cold, at which point, we can enjoy our favourite national past time, blaming America.