Proof positive that Brown deliberately wrecked Britain's economy!

Yesterday I linked a post that I put on my blog Ironies on 13th August 2003. It stated the following: +++++

Wednesday, August 13, 2003

Bad news for Brown It looks as though the new Governor of the Bank of England, might have got hold of the idea that he really is independent from the Treasury, which is certainly bad news for our incompetent Chancellor of the Exchequer Gordon Brown, but more probably and sooner rather than later, for the new Governor Mervyn King (The original link provided no longer works typical for many important references regarding Brown):- .... the new Governor of the Bank of England, yesterday criticised the Government's decision to impose a new inflation target in a move that threatens to open a split between the Bank and Treasury. He said it was "strange" to have an inflation target that did not include house prices and warned it could be seen as "moving the goalposts". Mr King also said the Government would miss its optimistic growth forecasts for the next three years, adding to a chorus of doubt over Gordon Brown's economic forecasts. Personally, however, and strictly as a non-economist, if I wanted to use a statistic showing price rises were no longer that severe a problem, which I assume is Brown's intent, then I think I would leave the property element in. The main criteria surely is consistency, without that the numbers cease to have meaning....just look at the make up of the Dow Jones, complete nonsense on any long term basis.

posted by Martin at 8/13/2003 09:12:00 PM +++++ So why did Brown exclude housing costs from the target he provided the new Governor of the Bank of England for inflation and why in spite of his well publicised doubts did Mervyn King then accept the post. Only one conclusion is possible - Brown planned the hyperinflation of house prices to meet the otherwise over-optimistic growth targets mentioned in my posting. King presumably allowed ambition to overrule his instincts and common sense. House prices were already over-heated in 2003 which is why I would have included them in the index as they should have been expected to fall helping inflation. Brown had no such intent hence today's bankruptcy of the country! QED.