Prudence has nothing to these days. She's definitely like Mr. Rochester's wife! Stuck in the attic, wondering what became of her. Gordon has taken up with a flibberty gibbet by the name of Gay Abandon!The BBC says ministers are considering plans to guarantee up to £20bn of loans to small businesses to help them survive the downturn. This in effect would mean the taxpayer coughing up for every defaulted loan. Could make Fanny Mae and Freddy Mac look like amateurs!
The Conservatives say that every child born into the country starts off with a £17,000 debt. Guarantee schemes are OK if they are there to help the entrepreneurial activity of the country, but this is just bailing out failure.
The country needs to be reassured, because confidence is what it is all about. Most people are not confident, and no amount of posturing will help until money flows in the normal way. People need to be able to part with a pound in the reasonable knowledge that it won't be their last.
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