Gordon Brown Bankrupting Britain to Win the Next Election

[OwlHoot]

I'd take that article a little more seriously if the author had a better command of basic English grammar and spelling.

That did occur to me too. But one can talk a load of nonsense with faultless grammar and spelling, and conversely a lot of sense even if your spelling and phrasing is a bit flaky and clunky.

In the end with something like this it's what you're saying that counts, as long as your meaning is clear, not how you express it.

[BrilloPad]

But £3.5 trillion will be the amount needed to buy a pack of gum by the time inflation gets going.

[sasguru]

I'd take that article a little more seriously if the author had a better command of basic English grammar and spelling.

[Gordon Brown]

5 trillion, 10 trillion, 100 trillion. L'Oreal introduce new Quantative Easing.



Because I'm worth it.

[OwlHoot]

Holy carp, are we ever flipped

The indepth analysis of November 2008 illustrated why Gordon Brown is well on the route towards bankrupting Britain as the liabilities by 2012 will exceed £3.5 trillion from £1.5 trillion at the end of 2007, as the prime consideration for the Prime Minister is to win the next election at clearly ANY COST.

The above liabilities do NOT include the £5 trillion of additional liabilities should the government be forced to nationalise virtually the whole banking sector. However, again people need to realise that the future gets discounted in the present, which is why the Bank of England, Treasury and Government policy makers do not comprehend that they cannot embark on the route towards £3.5 trillion plus of liabilities without the market reacting by selling out of the currency long before the country arrives at the debt destination. The effect of this is to make the current crisis far worse as the market seeks to discount the over 80% of the £5 trillion banking sector debt which is denominated in foreign currencies. Therefore the facility to inflate out of debt through "Quantative Easing" does not work, as the repayments have to be made in foreign currencies against which the countries debt burden rises as the currency falls and therefore puts Britain's banks under greater pressure. The impact on the economy is deflationary whilst import prices rise thus suggesting a stagflationary outlook or worse.

On top of ever expanding public liabilities that at the end of 2008 stood at an estimated £2 trillion, there is also the private sector debt of £2 trillion weighing down on the economy and sterling.