Messing around in the Memory Hole…

Look what jobs you get when you join the right clubs ie The Bullingdon and The Bilderberg…

After shelling out £850bn of taxpayers money to bail out the banks over here (page 2 of today’s FT listing the ‘Winners’ from the recession), the Government is now getting ready to hand over another £6-7bn to prop up the Irish banking system. George Osborne says it is in our ‘national interest’. This from the man who not so long ago was citing the ‘Irish Economic Miracle’ as something we should emulate:

Finally, as George Osborne prepares to throw money at the Irish economy, does he rue what he wrote in the Times in 2006? ‘The new global economy poses real long-term challenges to Britain, but also real opportunities for us to prosper and succeed. In Ireland they understand this,’ wrote the would-be chancellor. ‘They have freed their markets, developed the skills of their workforce, encouraged enterprise and innovation and created a dynamic economy. They have much to teach us, if only we are willing to learn.’ He might yet learn to repent.

George struck with amnesia while pursuing the ‘National Interest’…

Whenever some British politician or think-tank declares some former economic backwater as the future and something to emulate, I just know that it  will end in tears before bedtime for the next ‘Economic Miracle’.  (I am always reminded of The Life of Brian…Brian: ‘I’m not the Messiah.’ Arthur: ‘I say you are, Lord, and I should know. I’ve followed a few.’) Another recent example is Iceland. A few years ago Iceland’s economy was praised to the skies by Tory MEP Daniel Hannan and the Scottish National Party as the (finance services-based) Future That Works and that we should emulate. Then it all went arse-over-tit.

While Dan Hannan is spending his time in the European Parliament talking shop and has no influence whatsoever on how the Cameroonies approach the world, the SNP has been seriously weakened politically post-credit crunch by nailing their vision of Scotland’s future to that of the ‘Icelandic Economic Miracle’. If there was an overseas example the SNP should have been touting it was (and is) surely Norway, which also has North Sea Oil and has proper ‘Independence in Europe’ ie it is outside the EU.

Any bets on the next overseas ‘Economic Miracle’ which will be touted by British politicians as the model for Our Glorious Future that five years down the line will be calling the bailiffs in?


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One CommentLeave a comment

  1. Brown was right when he shouted no more Boom and bust. But boy over the past 30 odd years we have had a bunch of cowboys running this country, it must be due to our lack of education. perhaps if we demand that MP’s have had work in the real world for ten years, picking up litter say on JSA, or living on IB.

    Or even selling one’s body for sex and money, so they have some idea about what it’s like in the real world, then again it did not help Thatcher or Johnson did it.

    No more boom is bust is right.

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