In a 3,800 word essay for the New Statesman Vince Cable has concluded that the government has to invest in the economy to get us out of recession and to counter a shortfall in demand.
What took you so long Vince?
The Green New Deal group reached that conclusion in June 2008 - before Lehman Brothers collapsed. If Vince had caught on sooner we'd all be better off now.
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But isn’t that the whole point. He did catch on sooner. But once in government his conviction simply evaporated. And lets be brutally frank here. How many times have we heard a variant (though not as lengthy) of this from the (ex) saint Vince over the last few years? Every time there’s been a pathetic attempt to get the banks lending up pops Vince to lambast them about their failure. And yet what happens: there follows another pathetically thought through attempt, and up pops Vince again – as happened only last week.
He now reminds me of a kindly vicar telling young kids off for scrumping apples. That’s about as much authority as he projects. The Steven Hester’s of this world must be laughing all the way to the bank (no pun intended). As must Osborne, Cameron, Gove and co when they see how effectively they’ve been able to neuter Cable. Articles in the New Statesman – of whatever length – will not now rectify what has been a disasterous ministerial career.
Ivan
Let’s be candid – as his book showed – this man is firmly in the neoliberal camp
He was in the Orange Book too
R
I stand corrected 🙂
He took so long because, like many politicians/leaders, he chose to ignore the history lesson. In this particular case its the story of Marriner Eccles