måndag 14 april 2008

Conservative economic folly

The Conservative shadow chancellor, George Osborne, has proposed that the banking crisis should be solved by swapping the bad debt for government bonds. This leaves the taxpayer with the risk.

I would have thought that ideas like this would have emanated from the interventionist left. It does not give any confidence in anyone's ability to sort things out.

If that is the best that opposition politicians can come up with, my advice is to flee the country and take all your money with you. It is not safe in the hands of idiots who do not know what they are doing.

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