Many City economists were surprised to see that Government borrowing is down; don't worry, I'm not going to praise GO or say it's all as planned but I did like the info HERE at Guardian data blog. What irritated me was that in the image (click to enlarge) they had squeezed the picture of Brown far to the left making him appear over only those 'good' years of surplus (which was when, as we all know, he followed Conservative spending plans) and have the picture of Darling spread over most of the Crash Gordon years and we ALL now know, and it isn't hard to see, that Britain's debt soared from 2000 and Brown was to blame. It is petty things like the positioning of the Chancellors' pictures that annoy me (yes, yes, OK, I'm small minded and petty when it comes to Gordon Brown). Anyway, taking time before another day 'at the office' here in Guadalajara, I popped in to comment and decided to read what was being said...and there I got a surprise to see I had already commented several times on the first page (highly recommended too); no, not hacked, just comments on the original article back in May 2010. It is still interesting to read and of course I write that to clear-up Labour's mess will take a few years.
2 comments:
Something strange has been happening with the British economy which isn't getting much of an airing - we've suddenly turned German. What I mean is that for decades we looked at the Germans and saw a nation of savers whilst we got into higher personal debt, now we are paying down that debt (i.e effectively saving future incomes) which is having an adverse effect on the economy because it is taking money out of circulation.
Enjoyed the comments from 2010 btw.
Well it's about time: 'deleveraging' isn't a bad thing and even managing to save is even better!
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