Tuesday 30 December 2008

Printing Money...

Telegraph
"An email arrived for me the other day from a businessman...
He talked of the suffocating pile of debt, the empty order books, the collapsed currency, the disincentive of penal taxation and excessive regulation all helping to prevent recovery. He forecast, with some justification, the transition of our economy into one akin to the Third World, where the printing of money (the only policy, if it can be dignified with that term, that Gordon Brown seems to have) leads to hyperinflation, and thence to failures of infrastructure, law and order and democracy ..."Yet for all his denial, the Prime Minister.....when, in short, the full extent of his economic disaster can no longer be obscured, and when the completely dishonest Mandelsonian line about it all being the fault of the Americans has been exposed, even to the most dimwitted of our fellow Britons, as being entirely bogus."
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"The drastically weak pound is also driving up bills for imported goods, particularly for foreign food products, as well as for oil and petrol." (The Times)

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