Tuesday, 22 October 2013

A race to the bottom?

There are days on which I take a break from the sort of global Armageddon scenario that sells so many copies of the Daily Mail (and makes its website the most visited) and pretend that Spring is here, and days on which I curse the incompetence of the UK's worst politicians since the 18th century and when I would happily see the corpses of Tony Blair, Gordon Brown and Ed Balls swinging from chains from the upper span of Tower Bridge. Today is one of the latter.

First, a lengthy, calm and thoughtful piece from Ambrose in the Telegraph that leaves little doubt that an ordered breakup of the EMU is inevitable and lays out the alternatives now under serious and secret consideration in the Élysée and Bundeskanzleramt. The perverted ambitions of the Federasts will leave our beloved Europe in turmoil, pain, confusion and mutual recrimination and I would gladly see Von Rumpy and Barolo swinging alongside the others over the Thames.

And don't imagine that our own economy will fare any better; in a hard-hitting 30 minutes, Radio 4's 'Analysis' looks at QE through the words of the following;
Dr Adam Posen, President of the Petersen Institute for International Economics in Washington DC
Stephen King, Chief Economist of HSBC
Jim Rickards, author of Currency Wars
Professor Richard Werner, Chair in International Banking at Southampton University
Dan Conaghan, author of The Bank: Inside the Bank of England
Dr Philippa Malmgren, former financial markets advisor to the US President
The most frightening truth? "Don't imagine that UK Treasury officials have any sort of plan. They have no idea how it's going to end, still less an exit strategy". That's Boy Osborne and Boy Cameron up there with the rest, then.

5 comments:

Anonymous said...

You can't say that Enoch didn't warn us.
A great shame it is, that, we can't string Heath up - he should have been swinging on the gibbet many years ago - for his was the greatest perfidy.

Anonymous said...

If it wasn't so worrying it would be a really good spectator sport!!

Anonymous said...

"They have no idea how it's going to end"

That's because somebody might submit an FOI about the civil service 'end of times' scenario.

But you can get a taste of it.

1. No more money for the client state.
2. Notwithstanding (1) taxes will rise extortinately.
3. There will be a great deal of racial disharmony. Places like Bradford will out and out declare Sharia.

They will be supported by the Saudis.

4. The new aristocracy, aka the political class, will continue to pay itself disproportionately large sums of money, despite driving the economy into civil war and economic ruin.

Anonymous said...

"3. There will be a great deal of racial disharmony. Places like Bradford will out and out declare Sharia.

They will be supported by the Saudis."

Interesting and a shrewd synopsis I think.

Dave said...

If it affords an opportunity to use my stock of piano wire (and sod the local council regulations regarding defacing lamp posts) then bring it on!