The kindness of strangers
When Mark Carney pointed out that the British economy is dependent on the kindness of strangers I was too polite to point out that the original user of the words, was raped and then packed off to an insane asylum, as they used to be called.
Now the pound and the UK is finding out why Mr. Carney used such a striking metaphor, the pound is tanking. In part because the dollar is booming but it is still falling like a stone, for specific reasons of its own. Why?
Well as I tweeted yesterday the Sunday papers were full of stories about increases in defence spending- a full 1% of GDP more, more unfunded tax cuts for everyone and everything and damning analysis of the budget.
When you desperately need people to lend you money and subsidise your standard of living, spitting in their face is always a bad idea and that is what the Tory government is doing.
Borrowing huge amounts to give to millionaires is not sound money or sound economics- it is a sad fantasy beloved of right wing loons, who have just got their fingers on the levers of power.
The financial markets are not packed with Guardian readers but they can count and they can see which way the wind is blowing. The Government is destroying the country’s reputation, its finances and its prospects in a spectacular and very public act of deliberate economic sabotage.
I really didn’t think this lot could make Brexit any worse, but they have and they haven’t finished yet. This mad experiment with a country’s prosperity, in the middle of a crisis and a cost of living calamity for millions, is reckless, ignorant, stupid and very dangerous.
Like A street car named Desire it will not end well.
Economics, trade and Brexit, not necessarily in that order but the dog always comes first.