Thursday, Dec 11, 2008
Irwin Stelzer nails it!
Telegraph: Gordon Brown must blame himself, not the USA
Enough! It's time to put an end to Gordon Brown's ridiculous blame game. As the Prime Minister tells it, Britain's woes started in America. Like some strain of flu, America's problems found their way across the ocean to London, and from there to the rest of the British economy. Cheers from the Left, eager to rubbish America and to resurrect their leader's reputation. It is beyond question that Britain's problems stem in part from its fractured regulatory system, with responsibility split between the Bank of England, the Financial Services Authority, and the Treasury. A close study of the relevant documents fails to reveal that this system was forced upon Brown by the US authorities. No, it sprang full blown from the brains of Chancellor Gordon Brown and his sidekick, Ed Balls
8 Comments
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1. paul said...
Ed Balls. What an utter waste of space he is. He was one of the first MPs to (inadvertantly) make a mockery of Bank of England independence by saying exactly what the upcoming outcome would be. To lie unconvincingly is one thing, but to lie unconvincingly and accidentally give the game away is the hallmark of a clot.
2. andrew said...
Yes but 90% of the media is very quick to tell us that, polls show that the lead the Conservatives had has fallen to just 4%. Mainstream media also likes to feed us the line that when the economy is doing well people are reluctant to change a government and now when the economy is doing badly people are reluctant to change a government.
So which is it ?
Something smells fishy.
3. the haunted said...
I think its more important if everyone else blames him!
Even if he has delusions of saving the world, as long as we know that he did not and that he ruined our country then that's good. If he knows it is his fault but no one else blieves that, then we are in the brown stuff. I really can't understand how anyone would support Gordon now though.
4. alan said...
The BBC is very supportive of this government. Do not underestimate the ability of the controllers to sway criticism away from Gordo.
They certainly give a lot of air time to Nu Labour's excuses!
5. stillthinking said...
People support Gordon Brown because he pays their wage. Collectively it is a disaster to support him, for an individual working in the public sector or dependant on funding from the public sector it makes sense. This is why I think the UK must end up in an unstoppable downwards spiral.
GB could not support the public sector even with the taxes from the fake profits of the false boom (I think boom and bust is wrong because there was no boom), there are no plans to reduce the costs of government, so debt will not stabilise (stop rising) in 2016.
The UK is going to be run into the ground. Should the US recover before the UK, which seems a certainty to me, because a) their problems started earlier b) we might not recover for decades, then the pound is going to hit the floor when the US raises rates, which we still won't be in a position to do.
The only answer is to dramatically cut the public sector, this is political suicide for New Labour so we can pretty certain this won't happen. Knowing that means that the UK is going to be much poorer in the future. Disposable income will shrink, unemployment will continue to rise, savings will lose value in real terms and taxes will rise. Houses will continue to get cheaper and cheaper and cheaper.
Personally, I am hoping that GB cannot issue further debt and I wish that the Conservatives, instead of bleating, made some announcement to the effect that all debt issuance they disagree with now, they will default on when in power, which would shut down the market for new government debt and force the required cuts in the public sector.
6. Neo-serf said...
Irwin Stelzer nails it indeed - bang on the money.
History will correctly judge the world saviour and his acolytes.
The BBC is a national disgrace.
7. Hip Hater said...
Brown can't cut the public sector spending or the welfare state or he will lose his support base. However when the IMF are called in, the usual price for help is the dismantling of the welfare state, end of free healthcare and education (as happened with African countries in the 90s). So Brown is buggered both ways. He's got no money to bribe his friends and client base and no idea- except
He's bringing the troops back from Iraq next year.
So- elections suspended and marshall law?
8. paul said...
Never underestimate the pro-government agenda the BBC has - like Bank of England's independence, the BBC's remit to be independent has always been a sham.
In hotter countries, the state media channel is routinely ignored as a source of pro-government propaganda only.