Saturday, January 03, 2009

Wheels coming off.

"I saved the world" was just a slip of Gordon Brown's tongue. We laughed at the Prime Minister, partly because he's not able to laugh at himself, and partly because we think he actually believes it. Well, it seems that he hasn't. All he's done so far is spend one hell of a lot of our money, and mortgage our children's future. The BBC tells us that the Government is so concerned about the continuing state of our economy that many more billions are going to be borrowed to avoid an even greater economic disaster crashing over the United Kingdom. This is hugely embarrassing to the Labour Government, and a huge worry for the rest of us.

We don't know what the Government plans are. Perhaps they don't know. Today's headlines are just part of a softening up process. Gordon Brown is on with Andrew Marr in the morning, and we might have more idea then - but don't bet on it. One of the rumours would be particularly humiliating if it turns out to be reality. Buying up some of the 'toxic debt' that is secretly lying there on banks balance sheets would be because its a copy of the original 'Paulson Plan' in the US, which Gordon Brown himself rubbished.

Another plan seems to be another cut in interest rates - to almost zero. I cannot see the sense in this, because of the devastation its going to visit upon retired people who depend on their savings. And banks are not lending money anyway - so it wouldn't make much difference.

Perhaps Labour will simply spend more of our money buying up more shares in the banks. Perhaps it will go the whole hog and 'nationalise' the banks. I cannot believe this will happen. It might give pleasure for those who would like to see the banks punished, and those who are philosophically antipathetic towards capitalism in principle - but it would be a disaster for Britain, from which I believe even Gordon Brown will hold back.

Whatever, its clear that the wheels are coming off. Surely, the people of Britain must see that its time to change the driver.

6 comments:

Anonymous said...

"I saved the world" was just a slip of Gordon Brown's tongue.

No it wasn't. He never said that.

sian - a lapsed tory member said...

Oh dear Glyn!

Wheels coming off again?

Broken society?

The trouble is, no one is listening to us Glyn.

If things are SO bad in this country, we should be streets ahead in the polls - and we are not. Therefore our message is wrong as it is patently not resonating with voters.

You sre right in one respect - it is time to change the driver - time for Cameron (and Osborne) to move over and let's get someone to lead our party that has the guts to take this government on!

frankie said...

Well GB said it on the AM show - "A General Election is the furthest thing in my thoughts this year" As usual - he couldn't give a straight yes or no - but I think that's a no, don't you?

Dr. Christopher Wood said...

Callaghan IMF Replay - 'anyone for tennis'???

Glyn Davies said...

Anon - tell us what his precise words were then.

Sian - Its always very difficult for an opposition to secure a hearing when there is a national crisis. I feel that we're doing quite well. The reason some think we should be further ahead in the polls (and wouldn't we all like that) is that we were through most of last year.

Frankie - I watched the Marr interview myself. He said nothing to indicate what his thinking is about an election date. Personally, I believe it will be this year. I thought it was a very poor interview. Its difficult to believe anything he says.

Chris - by most measurements, its worse than the Healey/Callaghan debacle.

dalesman said...

What he actually said was, "We have already saved the world......."