The British Pound collapses as the run on GBP Sterling begins
George Osbourne once again confirms his ineptitude as the pound collapses. His unhelpful, and naive comments concerning the value of the pound, and Britain’s imminent bankruptcy, have seen the pound reach new lows against all major currencies. This simply confirms the prevailing mood in the Tory party: that Osbourne being an old school chum of Cameron just isn’t a sufficient qualification for the job. Ken Clarke is being touted as a likely successor, but he’s to old for David “The Chump” Cameron who is more likely to opt for another Old Etonian half-wit.
The problem is that the levels of borrowing predicted by the government are well short of the mark, and they will struggle to raise finance beyond the next eighteen months. Of course this is all the time Gordon Brown needs to buy the election. But if his timing is out (like Jim “Donkey Kong” Callaghan’s) he’s shagged. He’ll need to go to the IMF to pay the wages and pensions, interest rates will hit 15%, house prices will fall though the floor, and there will be massive cuts in front line services (but not the civil service). There will be power cuts, civil unrest and a massive rise in crime.
Of course he really needs to lay off half (at least) of the Civil Service and two thirds of Town Hall back room staff to balance the books, he also needs to retrospectively remove index linking from public sector pensions, and he needs to end the final salary scheme completely. Just like in the private sector. He won’t though - he hasn’t got the balls. So everyone in the private sector pays for the idle public sector to drink tea, laugh so loud you can’t be heard on the phone and do nothing at all on Mondays and Fridays. And of course it’s the private sector workers who have their houses repossessed when they get made redundant or the contract isn’t renewed.
Posted by admin - 15/11/08 - 0 comments