Bank of Englan Governor finally admits insanity of Banking Bailout - Osborne must GO!

As proposals for a 7p rise in basic income tax, VAT hikes and extensions emerge this morning and Mervyn King finally pushing the alarm button last evening, is sanity about to appear in Britain? Year after year and month after month this blog has warned of the certain disaster heading the country's way. Finally some of the incompetent madmen who have created this mess are about to face reality, will we see the Prime Minister now crack-up in public? Will the simpleton in charge of the main opposition party's economic policies now stand aside to allow a man of stature with economic experience and gravitas prepare the policies essential for effective governance? Complete and utter financial ruin is now the best way to describe the nation's economic plight, one question is, of course, how those who caused this mess can continue in power for yet one more week - another perhaps of even greater significance for the future - is how can the Shadow Chancellor of the Exchequer, whose main task has been to effectively oppose those policies during the past few years, be allowed to retain his position for yet one more day? George Osborne should stand down or be fired today!