" Britain risks becoming the first country in the G10 bloc of major economies to risk capital flight and a full-blown debt crisis over coming months"
Isn't that what Labour has been working towards?
So many superlatives for yellow streak Brown's tenure; worst performing since records began?
A full blown crisis is inevitable because:
- There is no sign of cutting back the huge government expenditure on social security, health, government employee pensions and defense.
- There is no sign of reducing the expense based public sector and increasing the wealth generating private sector.
- Taxes will damage the domestic economy and reduce incentives.
- There is still to much economic dependence on real estate.
- The policy of immigration of unskilled and emigration of skilled workforces reduces UK's innovative capability.
- The main UK wealth generating industry - banking - is severely damaged and will take years to recover.
- There is a population preference for socialism rather than capitalism, just when other countries, even China, is moving into capitalist mode.
- The UK education standards have fallen behind global competitors.
- Sterling will certainly fall heavily, but will be of little benefit as the UK has lost most of its export industry (unlike France and Germany).
Labour always wrecks the economy this time it may be for good!