Stagflation

I blogged here and here about the coming of stagflation to the UK economy and on many occasions about Gordon Brown's economic ineptitude. It now appears that with the Bank of England cutting interest rates as the economy slows whilst personal bankruptcies and IVAs rise to ever higher levels that the economic birds are coming home to roost.

Gordon Brown's proud boast of an end to boom and bust was a lie and his remarks at PMQs that the Labour government inherited an economic mess from the Conservative government was also a lie. The trouble (for Gordon Brown) is that the British people may just be realising that the New Labour expoeriment has been a failure and that they should not have trusted the incompetents to run the country. Only the BBC will continue to support this Labour government but then their jobs are safe.