I predicted that Gordon Brown's panic policy of quantitative easing would lead to inflation and I was right. Gordon Brown and Alistair Darling, assisted by the pro-Labour BBC, pushed the idea that deflation was the real worry; I think we all know that was complete crap. Here are the inflation rates of our current economic peers - USA 1.1%, Germany 1.2%, France 1.7%, Italy 1.4%, Spain 1.5% and here's the rate of a country that will soon be our peer if Gordon Brown's reign of incompetence is not ended on 6 May - Zimbabwe around 200,000,000%
Gordon Brown calculated that by creating fake prosperity based on property prices and other debt he could ensure his hold on power. The system crashed before he could hold an election and so he used quantatative easing to artificially boost the economy by pushing a fear of deflation. What excuse will he use for the next bout of bank note printing?
If George Osborne, David Cameron and Ken Clarke cannot tear Gordon Brown apart over this then they do not deserve to win the election.
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2 comments:
It would seem that Gordon didn't even do "O" level economics at school, it's so obvious!
I remember something about "Bad money drives out good" which seems to apply here (although it originally referred to coinage)
The good aspect is that interest rates will have to rise !
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