Sunday, 5 April 2009

Gordon Brown Done Well

The primary cause of the recession was poor risk management of private sector debt, but what's keeping us in recession is confidence: confidence to lend, confidence to borrow, and confidence to buy. More than than anything the G20 summit was about restoring confidence so that individuals, and the businesses they work for, start trading with each other again. The announcements at the G20 are somewhat irrelevant, the reason why I think Gordon Brown did well at this summit was because he got the G20 leaders to agree on a confident statement that should help inspire some confidence.

This does not mean that I think anyone should vote for him. He is the most disastrous prime minister of this age, perhaps any age. He bears responsibility for much of the disastrous situation UK PLC is in because of his failed regulation and his delight in public sector debt. He is the window cleaner who comes along and smashes all your windows, but this week, for the first time, he at least did something that I think helps install new some glass and I'll give him some credit for that. But he's still a disaster who should be slung out at the first opportunity.

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