Can this in the FT be true?:
"The scale of the debt the government is raising in the next two years: £350bn.
That is more debt bequeathed to its successor than the total borrowed by successive rulers and governments of Britain between 1691 and 1997, the year Labour was elected.”
Three hundred and fifty billion. And the OECD say we're going to recover quicker than most? Are they high?
Get your candles and your warm clothes: we're in this one for the long haul. The OECD didn't predict the crisis - why should you believe their predictions now? Whereas, Peter Schiff, who did, with spectacular accuracy and in great detail, predict the current crisis, says it's going to get a lot worse and that "the British economy is in the worst shape of all of them."
I know whose judgement I'm trusting.
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2 comments:
ETFR: What about the British pound?
Schiff: I think the British economy is in the worst shape of all of them, so I don't see the pound strengthening any time soon.
I didn't want to hear that. I'm just back from France, and everything was soooooooo expensive. Sadly, I'm a Peter Schiff fan, too.
what a nice chap that Mr Brown is. Not his fault you know, it is was all that nasty Mr Major that did it. And those nasty bankers that Mr Brown thought were his friends. And the Americans except for when Mr Brown is actually there.
In no way did that lovely Mr Brown run the economy for a decade before running the country.
http://www.boatangdemetriou.com/
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