Gordon Brown's public debt is your debt. Debt which you must repay. Your money, which you must earn. The government has no money left.
Every pound the government spends is a pound you earned by your work or what it has borrowed - in your name. Your name is on the loans. All of them. Trillions.
Because of Gordon Brown's socialist profligacy with your money, you now owe trillions of pounds to be repaid over the next forty years.
It must be repaid before your hospital buys sterile supplies, before your doctor gets paid, before your children's teachers are paid, before your roads are mended, before your doctor orders your medicines, before the helpless old are nursed, before damaged children are rescued from their abusers by social services, before criminals are caught, tried and jailed, before the Labour government can order any more massage suites like the one you have already bought for Ed Balls's office.
The debt must be repaid because unless it is, what with Gordon Brown having calculatedly bloated the public sector in order to poison the private sector (despised in his doctrine) so that we cannot possibly create enough wealth to pay for our needs, we have to borrow even more just to keep the country going.
Unless we pay back what Brown has already borrowed in our name, those from whom the British government borrows will simply refuse to lend us any more.
That would mean no money. No. Money. The total collapse of essential services. It would mean cataclysmic public anger and civil disorder. People getting seriously hurt.
To stave off that evil day, and since you have no more to give the government, and since more borrowing is impossible until we start paying some debt back, the Bank of England is now printing money ('quantitative easing') which it is lending to the government to keep the public services going.
The more money the Bank prints, the less it's worth. Devaluation. (Not possible for Euro countries, by the way, hence the riots in Greece.) The pound is worth only three quarters of what it was just a few years ago. How many Euros can you get for your pounds, these days? Right. Same goes for whatever we import - and we import almost everything we need.
This is hidden inflation, but it won't be hidden for long. Prices will rise all round, and your rainy-day savings will vanish as you spend them in order to live. And your mortgage and other credit costs will go up. The end of the inflation road is beggary. 1930s Germany. Worthless paper money by the barrow-load, Zimbabwe. Money which can buy... nothing.
So not only have we got vast debts to pay, our money isn't as good as it was and we have to pay out more of it both to get rid of the debt and to buy our essentials.
The debt must be repaid.
Debt is killing our economy and it's getting worse every day that Brown is in charge. Oh, it takes some sort of genius to create a catastrophe on this scale out of the solid gold economy Gordon Brown inherited from Chancellor Kenneth Clarke in 1997. Gordon Brown is that sort of genius.
But remember, Gordon Brown knows all this. And knowing it, he did it to you anyway. Here's why.
So. Do you still want to vote Labour?
Brilliant. Timely, measured and absolutely spot on.
ReplyDeleteIt might be worth pointing out that inflation is already revealing itself in some key areas. Fuel prices, for instance, are rising rapidly. My local Texaco has raised its prices three times in a week - to a debit card melting £1.16 a litre. This is almost beyond the records we saw pre-bust, when oil was $147 a barrel. Today it's $81 a barrel. So the reason must therefore be devaluation and subsequent higher import costs.
The effects of Brown's debt crisis are already here. And things can only get worse. It's pretty chilling really.
I have been battening down our financial hatches for a long time now,no credit except a small mortgage(soon to be gone),inescapable bills only and cash for everything.We both work and can live on either wage alone.
ReplyDeleteI'm so glad I never bought into the whole housing death spiral and credit boom.