Monday, February 23, 2009

Alistair Darling: Northern Rock to resume new mortgage lending

Gordon, Jacqui, Harriet, and Alistair

Oh dear Lord, Alistair Darling (pictured above, on the right) is still pining on a reflated bubble to help Labour win another term in office. To do this, he's going to create a British version of Fannie Mae & Freddie Mac, the two organisations that got the world into this mess in the first place.

Fortunately, his plan won't work. Like Napoleon, Keynesianism has come to the end of the road. The Crash of 2008 was its Waterloo. Well, actually, no, I suppose that was more like a Battle of Toulouse. Because the much bigger Crash of 2009, which we haven't even had yet, and which will come after the stupid decisions yet to be made at the upcoming G20 conference, will be more like a Waterloo.

St. Helena is too good for Alistair Darling and Gordon Brown, for the enormous debt-fuelled destruction they are currently wreaking upon Britain. I would suggest that Tristan da Cuhna would be a better bet, the world's most remote inhabited island archipelago.

Actually, any watery spot in the South Atlantic will do.


not an economist said...

Surely Gordo and Ally are the two in the middle and the rather butch looking ones either end are Jacqui and Harman-the-Harpee.

Jack Maturin said...

We all know El Gordo bats for the other side, not an economist, but I don't think even he would privately go for the blue sequined silk skull cap, to gaze upon his fine reflection in a secret mirror...

...mmmmm... maybe you're right! :-)