This article came out on The Mirror website yesterday evening and is in the paper today, I understand:
Written in the hour after the budget statement concluded, I think I understate my concern and the figures.
I began with this:
And I concluded saying:
I hope to develop those themes this morning.
But my sentiment will not change: this Tory plan is a recipe for a crash on an unprecedented scale, and I am genuinely terrified of the consequences.
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The only thing I can say is that this is what you get when you have a system that allows a corrupt and incompetent self serving government to stay in power by lettings its own membership vote it in whilst excluding everyone else.
There is nothing more to say.
Whatever happens next there has got to be change.
We learned in 1929 that real economic crashes are global in nature. We probably forgot that by the time 2008 came around. We have had crises in the UK such the the 1992 Black Wednesday fiasco but ‘crash’ is probably too strong a term.
This is not to say we won’t have a crash, but if we do have one it will also be global in nature and will likely originate in the USA and spread out from there.
There may be a crash as all central bankers think in the same way but we could still do worse than average