And herein lies Liarbour's problem; they promise the earth, then after they have spent all OUR cash frivilously (and claiming to have created a stable economy, whilst spending all the cash durning the boom times instead of saving in case it all goes a little Pete Tong) they get ruled out of power for eons until a new generation comes along that doesnt remember the bad times of the last old lot.
Stable economy mister brown? Well Want to account for the following?
http://www.in2perspective.com/nr/200...ecord-high.jsp
http://business.guardian.co.uk/story/0,,2002107,00.html
http://investing.reuters.co.uk/news/...-INFLATION.xml
http://www.telegraph.co.uk/news/main.../nrbrown21.xml
Oh, thats right, the stable economy thats built on
This:
http://en.wikipedia.org/wiki/M4_money_supply
its all going here:
http://www.telegraph.co.uk/money/mai...oswecon125.xml
and the reason why we have such "stable"growth at the moment... they are printing more cash. Tonnes of the stuff. Thats what M4 is. And guess what that does to your savings and your pay? Thats right, inflation devalues it quicker than you can say lickety Split. Brown is going to achieve is utopian Socialist dream by inflating us out of our wealth. Thankfully, we get a say on the matter at the next election. Simple truth is, there is no such thing about a miracle economy. We will have to pay back all the national debt (including the PFIs you forgot to add to the total, which almost doubles it) at some stage.
I will even tell you how it will all end.....
"If the Fed wants to inject liquidity (credit) into the system they simply call up large broker dealers and buy some of their bonds with credit they create out of thin air ... The dealer then passes this credit on to 'the market' by making loans to mortgage companies ... or whatever ... Because each layer of lender is only required to keep marginal capital on hand, a $1bn repo done by the Fed eventually creates as much as $100bn in new credit to the consumer ... This situation is very unstable in the long run. The Federal Reserve's balance sheet this year alone has expanded by $30bn in this way, and created $3.5trillion of new credit" (for which read debt) "in the US."
http://www.ft.com/cms/s/92f7ee6a-a76...0779e2340.html
to give you an idea, in 1929 (great depression) the GDP debt ratio was 2.9.....
today it is 3.6.
Im packing up and moving to New Zealand.
