Friday 9 January 2009

Interest rates and the economy: Does anyone in charge have a clue what to do?

Telegraph
"In fact, even Mr Darling, the Chancellor, admitted this week that he really didn't have a clue what to do to put our economy back on the straight and narrow. ...... I am not sure he can even read a balance sheet. I certainly wouldn't put money on many of his Cabinet colleagues being able to do so."...Given this country has no money, what does Mr Brown think he is playing at in running up more debt carting his vapid Cabinet around Britain for its meetings? What difference can it make to our governance that, at a an estimated cost of £70,000 excluding police protection, they went to Liverpool this week?"
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UK manufacturing activity slumped at its fastest annual pace in 28 years in November, shocking the market and suggesting that the economy shrank more than already feared in the final quarter of 2008.
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Brown goes from boom to bust
"A ComRes poll of leading businessmen for The Independent shows that trust in the Prime Minister and the Chancellor, which rose after the Government rescued Britain's banks last autumn, is now on the slide."
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Business chiefs' confidence in Brown's handling of economy collapses
"There is growing dissent among Labour MPs and in the City over the temporary VAT cut, which many retailers claim has had no effect whatsoever in boosting spending."

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