Friday, November 20, 2009

The 'Arc of Insolvency' is Lucky!

He told us he had "saved the world". Yet public borrowing in October 2009 was 88 times more than October 2008. Could it be that Britain is in Brownruptcy?

After promising a bill that will halve the budget deficit within four years we hear this from the OECD as reported in today's Torygraph.

"The Organisation for Economic Co-operation and Development said that even if Britain reduces its deficit in line with other leading nations, it will still have the rich world's biggest deficit from now until 2017 and potentially beyond, casting serious doubt on its economic credibility. "

Didn't Jim Murphy from The Ministry of Truth, sorry The Scottish Office coin the phrase 'The Arc of Insolvency' and oh how his assorted clones, trolls and shills hooted heartily and at length. Forgetting of course that the most appropriate model of the 3 was Norway which is surviving the crisis swimmingly.

What of the other 2? Ireland and Iceland?

The OECD says:

"Britain's deficit will remain higher than any other major country, including even Iceland and Ireland, unless the Government takes far more drastic action to repair it, said the OECD's acting chief economist Jørgen Elmeskov."

Jings, even the 'Arc of Insolvency' is better than the 'Arse of Insolvency':

Still waiting for the SNP to get stuck in, tum ti tum ti tum.

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