Yes, yellow streak Brown and dumbledorf Darling have got egg all over their faces. They f*cked up. The shit hit the fan on their watch and they must take ALL of the blame.
We now have the nightmare spectre of substantial inflationary pressure, further devaluation of Sterling and substantial steep rises is interest rates to prevent our credit rating being downgraded.
Just remember from the 1st January fuel at the pumps will, by virtue of the reversion to 17.5% VAT (at the lowest) rise by about 3p per litre and diesel perhaps more so. This must either feed into general inflation or reduced profit margins (I don't think there's much left to cut in many sectors).
Then there's the foreign exchange fueled inflation, where do we get most of our food from? Europe and what's happening to the euro? Well it's stable at the moment about 50% above the long term trend. Then there's the cost of servicing the debt and the cost of bad personal / company debt being written down or off, further reducing spending and employment.
All dumbledorf Darling ever says when faced with continuing bad news is next time, next quarter, and next year. He never explains why the government has got it so wrong in creating an ill balanced economy . Is he just playing for time knowing the end of the road is in sight? Dumbledorf Darling has to step out of his illusion and lift his viewpoint to where he too can see that, (while he is certainly helping the small number at the oases), he has no mechanism to spread that prosperity across the wider nation. Darling has to open a debate about how to capitalise the wider nation; beyond the confines of the City Oases.
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