Going To Sea In A Sieve

[dog]

The economy has been sustained by rising private debt and rising public spending for 10 years. At the begining of this year, the inevitability of a crunch (at some point) dawned on people and everyone got depressed. Fewer people bought houses, the shops sold fewer goods and unemployment started rising month after month. At the end of the year however people are happy again.

Has personal debt gone down? Personal debt has got worse!

Are we selling more goods abroad? We are selling fewer goods abroad!

Has unemployment gone down? Unemployment has risen every month of this year!

Is public spending under better control? Public spending has got much worse!

Are fewer people in money difficulties? Bancrupcies are rising with every month!

Are we financially better off? Although goods inflation is low, taxes are up!

So why is everyone happy again? The answer is that the nation has decided to solve our debt problems with another spending binge. Mortgage borrowing is up and people are emptying the shops. We are a nation of idiots ruled by morons.

[benjamin]

i said earlier today that we are all being primed up for the spring bounce. of course, it won't happen by itself so we are being fed the elastic before christmas. it's also a ploy to keep us spending in the belief that house price rises are gonna bail the nation out.

[dog]

i said earlier today that we are all being primed up for the spring bounce. of course, it won't happen by itself so we are being fed the elastic before christmas. it's also a ploy to keep us spending in the belief that house price rises are gonna bail the nation out.

We are already living beyond our means but Gordon Brown is addicted to income derived from sales tax and stamp duty. He is like an alcoholic hoping that more drink will ease his problems.