Tuesday, 15 September 2009

Howls of derisive laughter?

Gordon Brown, in discussion with Robert Peston:
I've never been someone who myself has been interested in running up personal debts or borrowing huge amounts of money.
Of course not, Gordon. You've got us to pay for it all. £23k each, last I checked.

(Title inspired by the Python team's Bruces sketch)


  1. It's beyond funny, beyond derision. I feel nothing but a seething rage. Still, at least - at last - people can see the Saviour's New Economic Clothes.

    Hopefully the electorate "won't get fooled again" for another couple of decades.

  2. "G'day Gentlemen, I'd like to introduce you to Gordon from pommy-land. He's going to be teaching Nihilism."

  3. The public sector current deficit has moved from a surplus of £7.8bn in July 2008 to a deficit of £5.1bn in July 2009, an seemingly innocuous swing of £13.2bn. Public sector net borrowing was actually lending in July 2008 as it was in surplus to the tune of £5.2bn. This had reversed to borrowing £8.0bn in July 2009 but the estimate for 2009/2010 is £175bn!! This may have been over estimated all things considered but they better not congratulate themselves on that! By any accounts the graph will look horrific. Why have I been unable to find it?

    While I appreciate some information is market sensitive (recalling the B of E gold reserves debacle), in this freedom of information age it is unacceptable that accurate information about the extent and nature of QE does not appear to be widely available. It cannot be beyond the wit of those concerned to produce a balancesheet with and without the Government's intervention in the banks. The figures appear to be obfuscated in the statistics and detailed projections are sadly lacking.