Tuesday, 3 November 2009

Gordon Brown Economic Genius (Part VIII)

Britain has the worst fiscal deficit in the OECD. This is because Gordon Brown thought the good times would go on forever and it was therefore OK to spend more than you took in tax, even though the economy had been growing for 16 years, the longest unbroken expansion in history.

This is like listening to your boss tell the assembled workforce that "there are going to be some job losses", and then marching into his office immediately asking for a pay rise because you've just bought yourself a new Porshe on credit.

What could possibly go wrong?

He actually thought that he'd abolished boom and bust. No.... really he did. It is the only explanation for his idiotic handling of the nation's finances. Iron Chancellor? Cunt more like.

And don't say "no-one said so at the time", because I did. Parts I, II, III, IV, V, VI & VII

And it just gets worse, because now the shit has hit the fan, he's ploughing on. Borrowing ever more, financing the same pointless state box tickers and resolutely refusing to reign in spending (except by slashing such front-line services). Indeed he's making a virtue of this insanity by calling it "stimulus". This is as much a lie as calling insane spending during the boom years "investment". So Brown's policy is to spend more than he receives in any year, whatever the economy does. Don't disagree, because that's what he's done. He even drags the name of a great economist, Keynes, through the mud by suggesting that he would support Brown's lunatic policies. Let's be clear: Keynes only supported expansionary fiscal policy if there was deflationary policy before. Which there wasn't. He also thought state spending shouldn't rise above 30% of GDP or so, whereas our ex-chancellor has seen it balloon to over 50%. Brown the Keynsian? Brown the cunt more like.

The only circumstances I would consider NOT pissing on Gordon Brown were I ever given the opportunity, is if he was on fire.

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