Tuesday, 24 March 2009

Mervyn King - Unlikely Hero

Goodness me! It's been almost two months since I updated this blog, and I never even noticed! That's probably because there never seems to be anything genuinely new or unusual in the news these days.

I don't think many people can have missed the rapid descent of 21st century Britain into New Labour lunacy, and so my commentary seems a little redundant. Besides, what is there to say? Each day, Gordon Brown-Trousers or his chosen minion announces a new scheme designed to mask the government's utter incompetence until after the next election. Each day, the public groans, shakes head and struggles on through the economic chaos created by that same power-mad group.

We know the schemes won't work, can't work and could only be imagined to be useful by someone totally out of touch (Hi Gord!). We also know that we, the taxpayers, are going to be lumbered with paying for this mess for decades, no matter whether Ken Clarke piddles around with inheritance tax or not.

But today is slightly different. With our derranged PM overseas on yet another jaunt aimed at pestering simillarly clueless world leaders into joinining him in a further fiscal stimulus farce, Mervyn King has risen like a rake from the long grass to smack Gordon Brown-Trousers in the face (ughhh). Speaking to the Treasury Select Committee, the normally reserved Mr King made it very, very clear, in language even the Prime Minister can understand, that Britain simply cannot afford yet another round of borrowing to finacne tax cuts and public spending - aka fiscal stimulus.

And quite right too! It's excessive borrowing that's gotten most people - including this joke of a government - into this mess, and the way out does not lie though more of the same. Only a fool would think otherwise, which is probably why, in a speech to the European Parliament, Gordon Brown-Trousers said, "We can together deliver the biggest financial stimulus the world has ever seen, the biggest cut in interest rates, the biggest reform of the international financial system, the first international principles governing banking remuneration, the first comprehensive action against tax havens and for the first time in a world crisis, new help for the poor."

Madness! Sheer, raving financial lunacy! And it doesn't stop there. He also said that the world should abandon the "old Washington consensus" of lightly-regulated free markets and introduce a new European form of capitalism reflecting morality and values. Morality and values? This from the man whose senior ministers (and quite a few juniors, too) are constantly accused of bening on the take, fiddling expenses, claiming for second houses that belong to sisters, parents etc? And who recently recalled and enobled a man who was forced to resign from Tony Blair's cabinet, not once but twice, following allegations of financial dodgy dealings, and who is still facing similar questions now he's back?

As for the European Parliament, it's hardly known for moral values, let alone its ability to effectively regulate anything. On the contrary, it's famous for being a cash sink, where faceless officials obtain lots of money for doing very little - and nothing that anyone would actually want them to do!

No, Mr Kinng couldn't have timed his warning better, both in terms of the looming Budget and as a means of humiliating Gordon Brown-Trousers. How could I possibly resist cheering this valiant little banker on? Go for it Merv, show everyone what a clueless imbecile the PM is - but, if I were you, I'd avoid going near any woodland for a while. Remember what happened to David Kelly when he made the previous PM look stupid!

Billy Seggars.

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