Wednesday, March 21, 2007

Growth Was Not Brown`s Doing

I am sick of the New labour lie that Gordon Brown has given us the longest period of sustained growth in our history. You may think that, unfortunately, this is true ,but read the sentence again and you will see that it is not. “ Gordon Brown has given ..”.. ah yes …there’s the lie !

I give him credit for not rolling back the Trade Union Liberalisation of the saintly Mrs . T ,but then it was hardly politically possible after the intellectual death of Socialism,( now stalking the land like a reanimated cadaver ) ,. “Differently dead “,Socialism ,is responsible for galloping wage inflation in the Public sector, where the unions are able to act almost as before. Labour’s shrinking constituency is increasingly dominated by the irreducible core of bought and paid for state serfs. Gordon cannot manoeuvre now .
Haven’t the state hirelings done well ! They will be retiring at about 3.30 this afternoon for an endless Edwardian Summer of Croquet and canap├ęs on the lawn. We will be working well into our third re incarnation as rats. Meanwhile 800,000 jobs for which there is no apparent explanation have been created in public administration which ,coincidentally , is about the same number that decides a General Election.

I also give the “Lying Scotsman “, sour and grudging credit for handing over interest rates to the Bank of England ,although why I should I have no idea , it isn’t as if he wanted to. This will soon be tested now inflation is , for most of us, about 7.2% ,whatever the ever changing measurements tell you . Unemployment doesn’t matter, they are always banging on about the end of it , but this has been brought about by a vastly increased Working Population working on contract and flexibly .
The burden of this change to insecurity ,again ,been taken by those in the Private sector . Actual unemployment is now disguised in part time and subcontractor status .There have also been numerous redefinitions of what counts as unemployment and the suspicion is that behind it al, the usual pressures are building .
In the past with such vertigenous levels of taxation we would simply have stopped bothering to work so hard ,but not now .The fact that long hours and endless sacrifice goes on in the working population, is to be explained by the high gearing that we are all obliged to take on with our Mortgages. In other words “fear”, has replaced hope, and we cling on to whatever employment we have no matter what conditions are imposed. No matter how small the marginal reward may be. This suits Brown nicely

Gordon Brown has quite simply been lucky .He inherited a country equipped uniquely to take advantage of the exploding world economy and, by the way, with plenty of sovs in the Piggy bank , The world economy has raced ahead and other English Speaking countries , notably America, have done spectacularly well. We have slowly stagnated under a burden of taxation and red tape despite further spending of social capital by letting in a hoard of cheap labour for the benefit of Big Business that New labour is increasingly in Corporate state relationship with. The proper summary of the Performance of this country under Brown is this .

“The lowest Growth in the Anglo-sphere”

The art of Government is often trying to make the inevitable seem planned and never has this been truer that in the case if Broon`s Economic success. Victorian Governments would not have dared take the credit for the growth of the railways and the factors that have aided Brown have been so far beyond his control as to make his claims to have been responsible laughable. The Government do not make a damn thing , and the Public Sector by any measurement is a Mill stone around the relatively productive Private Sector’s neck . If there s any creed responsible for the clement economic weather it has been the low tax economies of the East . We would do better to learn from them and the US than to assume that the Labour party has got anything right .


Anonymous said...

Ahh - but the Daily Mail keeps telling us that Gordon Brown is a 'formidable' chancellor.

Is it true that the Bank of England MPC members are selected by Nu Lab ? (Responsible for setting interest rates)

Newmania said...

I didn`t know that kev , it is supposed to be independent and I think it has been.

Anonymous said...

Easy lending has helped to Nu Lab image so much don't you think ?

Probably not a connection but I can't help wondering why I would know that the MPC existed and kept it in mind.

Might do some Googling. You're most probably right though.

Anonymous said...

Stalin was like Gordie McBroon - a formidable politician, as my old friend Lord Jubblie was saying the other day...

Newmania said...

He does nothing for me Mutley

Anonymous said...

Can confirm the MPC has nine members - four of them are selected by the Treasury.

Newmania said...

Interesting isn`t it Brown would definitely love to engineer a boom now . I wonder what he will do . I suspect he will do it by pumping debt into the economy

The Hitch said...

paul dacre is a cock!

eddie george came out today (not in that way) and said that he had engineered a boom , and hinted as to what is in store.

Anonymous said...

Yes I read that too, Hitch. I've long suspected it.

Overcrowding doesn't make for expensive property - look at India & China. There are so obviously other factors involved.

Newmania said...

There are an almost infinite number of factors that are dissimiliar between this country and the ones you mention Kev. The boom being manufactured is to heat up the economy so as to get cash inot peopps pockets uop to the election and leave the inflation and BOP defacit for afterwards.

This used to be commonplace and I will be suprised if the labour Party do no try something

Anonymous said...

Oh dear, we're all such whores aren't we.

Anonymous said...

Re 11:43 am above

Quite prescient of you, N to forsee the Chancellor's largesse in his budget (2% off base). That should prolong the housing boom and help to offset the expected interest rate increases. And keep everyone anaesthatised against the effects of crime etc.

What of the national debt and burgeoning public service sector ? Must we always suffer personal ambition at the expense of our future ?

Something to ponder:

NHS budget = £82 billion
Population = 61 million

Yearly per capita cost for the NHS = £1,344 for every man, woman and child.

£5,376 per year for my tribe - that would pay for a hell of a lot of insurance.

CityUnslicker said... is very expensive in china!

and cost is relative to space/people. UK is one of the most densely populated places in the world.

A fine effort Mr N. You should write a guest piece on my blog re this kind of thing as you do it well.

Note too that we have sold off many of our assets and 'invested' in public services; but this money has all gone on pay.

The cost of all this will be bourne by our children.

Newmania said... is very expensive in china! SAID CU
Is it CU .I remember it being unbelievably expensive in Cairo by comparison to the wages available and also in Italy.

I am not by any means clever enough CU. A man has got to know his limitations although I do take an interest in economics . I recall you said strikingly .That if you do not , you can understand nothing about what goes on around you . I agree.

Anonymous said...


Have you ever heard of time/space theory ? It is part of Einstein's Theory of Relativity. Time is not a constant 1 second per second - did you know that ? It can be 2 seconds per 1 second to an observer outside of that time zone. This concept is known as geodisics and NASA engingeers have to account for it in their calculations. To the astronaut it makes not difference - they experience the time/space compression/expansion unaware that it is happening because they are in it. Now

... do you think an Australian living in Canberra would be jealous of a house worth 250k in Neasdon London ?


Just as I am not jealous of a home that might be extremely valuable to an Indian in Calcutta.

So monetary value is (rather like time/space) not constant and no measure of standard of living. Expensive to locals but of no appeal to me.

Rather like the space traveller unappreciative of time compression, our wealth can be diminished without us realising it.

Anonymous said...

And our quality of life IS being diminished without us realising it.

Newmania said...

Kev I`m sure CU meant that property was expensive relative to wages or affordability locally although you come at it in an impressively zen sort of way .

I `l be inetrested in what the Hitch has got to say

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