Major warns Brown that the UK's credit rating could collapse!

Sir John Major spells it out to cloth-eared Brown "If they continue with this huge deficit, at some stage our national credit rating will collapse".



At least one former Cabinet member has realised the fudge game is up. John Hutton says, "I don't think you can go on saying we can continue to spend as if nothing has happened in the last year or so - people know something big time has changed." And even that implies the average voter is thinking through a headful of custard!

Alistair Darling, though, appears to have adopted the custard thinking process. "Gordon and I have many discussions and both of us are absolutely clear our priority now is to build our economy, to resume with great vigour the drive to make sure this is happening in other parts of the world because our future depends on that. I am very clear that things like education, health, transport, these are important matters. But as I have said time and time again, all of us are going to have to make our choices, all of us are going to have to set our priorities and the public will judge." What on earth is all that about? Waffle and piffle!

Truth will out, Darling!

Bankers get a warning from Darling

Chancellor Alistair Darling has warned that it would be "disastrous" for bankers if they returned to their old ways and repeated past mistakes. He says this -

"There are people who are too complacent in my view. Some (banks) are only operating at all because of very substantial support from taxpayers, who are entitled to tell the government we must not repeat the mistakes. If they go back to the way they were - to business as usual - without asking themselves over and over again whether they understand what they are doing, that would be disastrous for them and the rest of the world."

Sounds very good and plausible. Yes, the taxpayers are entitled to tell the government not repeat the mistakes of the past. But what if the future represents only casino banking? We have learnt nothing then. Surely as major stakeholders the Government can make sure these greedy bankers just learn to cut their cloth like anyone else. Why should they be a special case? What makes them so utterly different that they need all this money. Half what the chairmen of Lloyds and RBS get would be a decent enough package. They have sold their souls to the Devil!

Darling needs to get a grip. Play hardball with these tossers. It's no good giving sermons. We require cast iron guarantees that this finanancial rescidivists have repented and will from now on endeavour to do good for the country.

Ron Paul's 'Audit the Fed' bill gathering steam

This piece comes from CQ Politics about Ron Paul's efforts to stop the political fudging about how much America is in debt. Dr.Paul has a large number of cosponsors, 244 right now. It's amazing that the authorities in both Washington and Brussels seem to be scared stiff of having audits. The public on both sides want transparency, but it's like wading through custard. What makes them so difficult? Surely not the ending of the gravy trains?

Ron Paul and a master class!

These high school kids have had a real master class in politics and economics. Ron Paul is a natural. No cue cards or autocue. Just straight from the heart. I like something he said recently about President Obama. "He wants to spend more money. But, he admits we don't have any money. So, the question is - where do we get the money? We can't tax the people anymore. They are overtaxed and the economy is weak. The common sensical thing to do is to cut spending. But, nobody wants to cut spending." Back to the money trees in the funny forest, then?

Mandelson starbucks Howard Schultz

Lord Mandelson has gone back to his roots, his New Labour roots, and has gone into a swearing rage over remarks that Howard Schultz, Starbucks chairman said to CNBC's Mario Bartiromo. Can't think he said anything that wasn't true.

Mandelson went ape, or was it more like a rabid rodent, and an apology was extracted from Schutlz. I would have thought it would have been more appropriate for the enobled sleaze merchant to start the apology process. After all, he has a series of wrong doings for which he has never apologised for. And he can't now be so pompously self-righteous about Boris Johnson's colourful language if his own verbal dexterity leaves the average Anglo-Saxon blushing!

Fox News now Ron Paul's biggest fan?

It seems that Ron Paul is pundit number one when it comes to Fox News. Pity they were so down on him during the election. Anyway now they appear to be bending over backwards to give air time.

Here is Ron Paul saying he thinks Barack Obama is right in telling us that things may get worse, but he thinks Obama may be missing a few points. If you want to hear a politician speaking it as it is, here's Ron Paul. If you want a different tack, take up with Gordon Brown and the fairies in Number 10!

Ron Paul sees trillion dollar deficits in true light!

Ron Paul would save a trillion dollars just by cutting the "overseas empire" so that the trillion dollar deficits "for years to come" that President-elect Obama says we have to live with would be dissipated fairly quickly. Of course, all those tied up in the business of the War on Terror would have to be deployed elsewhere, but at least the average American wouldn't have a taxation millstone to drag around until death!

"We haven't had free market economies for a long long time", says Dr.Paul. Seems to me very odd that in the Land of the Free, free enterprise is on a back burner and corporate interference is the bees knees. Oh, well!

Here's Ron Paul talking about the continuing dilemmas and that trillion dollar deficit.

Ron Paul in the clear!

According to The Market Oracle, Ron Paul does not have the Fiscal Insanity Virus. FIV is spreading like a contagion. Gordon Brown has it. It turned Alistair Darling's eyebrows into what they are!

The Market Oracle quotes, "Hair samples taken from Ron Paul, member of the US House of Representatives, have now been analyzed. Scientists report that Ron Paul has the only known double repetitive occurrence of the A-Marker. Scientists speculate that such individuals would be highly immune to FIV, even in the most highly diseased environments such as US Congress." We should all be wary. FIV is more contagious and far more dangerous than the common flu virus now making its rounds. The primary symptom of FIV is irrational, often delusional fear of deflation. The virus has an uncanny ability to seek victims in positions of authority. Those afflicted with the virus start taking (or promoting) fiscally reckless actions guaranteed to damage the host country.

Thankfully it is mainly confined to a small number of people, but as such, they are in a position to do much damage. How Ron Paul managed to escape the virus in such a "highly diseased environment" is amazing!

German finance minister saves the world!

Gordon Brown may think he has saved the world. He may think he has saved the banks. But he hasn't saved the UK economy. Not according to the German finance minister, Peer Steinbruck. He has described Gordon Brown's recovery plans as "breathtaking" and "crass". And to a great extent he has a point. He questioned the effectiveness of the decision to cut VAT from 17.5% to 15%. "Are you really going to buy a DVD player because it now costs £39.10 instead of £39.90?" he said. "All this will do is raise Britain's debt to a level that will take a whole generation to work off." Apparently, the 2.5% cut in VAT will cost the UK £12 billion in one year. OK it is a "temporary" move, but surely that money could be well spent elsewhere. After all, it will be money we actually have, not plucked from his money trees that he planted in No.11 Downing Street.

Brown is upset with the minister. I can't think why! It's all his own doing. He failed to see the knock-on effect of the sub-prime fiasco, he dithered over Northern Rock (now into knockdown house auctions!), he waffled about saving the banks and he waffled about the economy as a whole.

He claims to be doing everything whilst the Tories do nothing. The trouble is he is only window-dressing. Like Woolworths, the windows tell one story, but inside it's all getting a bit messy.

Ron Paul vindicated

Over much of the Republican primary contest, Ron Paul was sidelined and virtually ignored by the media that was busily sticking its head further into the sand. Sand blown in by the spivs and speculators, no doubt.

I came to see that Ron Paul spoke for people like me. Naturally conservative, but not hidebound. Libertarian to a degree, but not zealously so. I reckon there are plenty of people like that, not only in the US, but in the UK and beyond. Ron Paul gathered an army of supporters via the internet. But he failed to win the nomination.

His way has been rejected, or at least for the moment. Paulson's policies now prevail. But Ron Paul saw this coming. Bonnie Alba puts it well, when she says on the RenewAmerica site, "Ron Paul: the republic's financial prophet". In 2000 he said this -

"Although many claim the 1990s have been great economic years, Federal Reserve board action of the past decade has caused problems yet to manifest themselves. The inevitable correction will come as the new century begins and is likely to be quite serious.

The stage has been set. Rampant monetary growth has led to historic high asset inflation, massive speculation, over-capacity, malinvestment, excessive debt, negative savings rate, and a current account deficit of huge proportions. These conditions dictate a painful adjustment, something that would have never occurred under a gold standard. The special benefits of foreigners taking our inflated dollars for low-priced goods and then loaning them back to us will eventually end. The dollar must fall, interest rates must rise, price inflation will accelerate, the financial asset bubble will burst, and a dangerous downturn in the economy will follow."

Well, well, well! The bubble has burst. And a dangerous downturn has followed. What does the Bible say about prophets in their own lands? We were warned, OK!!