Treasures from the threads - Number twenty-six

Welcome back Mike Williams from Bangkok responding to the Simon Heffer column linked earlier today and here: And it was all so predictable as far back as 2001 when the credit brakes were not just released they were totally removed, and where were all the expert journalists at that time, were they warning the public of the pain to come because of easy credit, no they had there noses so far up Browns butt its unreal and they were all singing from the same hymn sheet, oh what a wonderful fellow he is and how sound the economy is. I said this back in May 2007 when I first started to post here trying to warn people of the financial tsunami heading their way and I am going to say it again now THE UK IS BANKRUPT, I will say it again THE UK IS BANKRUPT. This is how bad it is, if Brown stopped spending now and turned the deficit into a £40 billion a year surplus it would take approx 60 years to repay the debt he has built up and is continuing to grow on your behalf. What is now happening and the carnage that will take place next year is only partly to do with the world problems most of it is the responsibility of Gormless Brown and his feckless irresponsible spending. Next year is when it fully impacts and a lot of people are going to suffer enormously. Unemployment will skyrocket and house prices go into freefall, repossessions will be rife and not just for mortgage arrears either banks will slap charging orders on peoples property if they default on any loan or credit card debts. Retail sales will nosedive and bankruptcies will accelerate dramatically. Tax revenues will seriously decline and welfare payments will go through the roof substantially adding to the ever rising public debt problem. And what does Gordon want to do faced with this scenario? why borrow more money of course, the man is stark right staring mad. Your best course of action right now in the UK is to start a revolution and dispose him before he can do any more damage. Posted by mike williams in Bangkok on November 22, 2008 8:41 AM