The recession is not over. A thousand billion pounds of global derivatives have not been deflated. The banks remain as precariously balanced as a fifteen stone man on a unicycle. The world is still walking on eggshells, and that the necessary popular confidence in the banking system has been maintained means we're still in a breathing-space, not a recovery. Any loss of confidence by the market that results in a collapse of gilt prices could plunge the UK in particular into the abyss.
The government have reportedly delayed producing the next draft Comprehensive Spending Review, to kick in from 2011 onwards. It doesn't matter that they won't be in power; the CSR defines spending decisions that will be made now. Capital projects with long lead times don't begin to spend big money for two or three years, so it is intensely irresponsible to withhold from Parliament the reality of the nation's bare cupboard for the sake of trying to disguise Gordon's lies. And this is the only reason for halting the CSR. Brown has been caught in a big, clumsy lie and Cameron must keep picking at the scab, week after week, until everyone knows it.
The public services promises are spilling from Labour's lie machine like ordure from an overflowing cesspit; guaranteed cancer treatment within a fortnight, a hundred thousand personal tutors for parents who have wholly abrogated the care of their offspring to the State, and no doubt Brown's (fourth? fifth?) policy relaunch today will shower us with yet more lies. The truth of course is that there's no money to pay for any of this.
And then of course there are Gordon's five million welfare slaves, costing well over £80bn in non-pension benefits, whose offspring no doubt will be first in the queue for Balls' personal tutors, in addition to costing us a massively disproportionate share of criminal justice, education, social services, health and other public expenditure.
Brown's last fling is the madness of desperation. If he has an ounce of sanity remaining, he cannot possibly believe a word of it.
But Brown is driven by petulance, spite, a burning resentment and the certain knowledge that he will down to the opprobrium of having been the nation's worst ever Prime Minister, hence he will promote the FSA over the Bank in spite at Mervyn King's outspoken criticism. He really doesn't care about the people of Britain, far less about our economic health. He's on a downward spiral of destruction, and he's going to pull us all down with him.