The news that Gordon Brown is stepping down at the next election caused nary a ripple at Lola Towers. He's been gone since he did that silly grandstanding walk down Downing Street.
Much time has been wasted on the interweb dissecting his record, so here is my ten pennorth.
GB (in fact New Labour generally) modelled his/their whole economics/buying votes scheme on the narcotics business. It worked like this.
1. Booming consumption equals euphoria. Like a drug fix.
2. To make consumption boom we need more money in peoples hands
3. To do that we need to make more of the stuff and distribute it.
4. To do that we need to control money in all its aspects from production to distribution.
5. As this is likely to be challengeable by people who know that unsound money is bad, we need to control the money police.
6. So we'll need some legislation that eviscerates the police.
7. Ah ha! We can get the LSE and the Fabians to look at this and draft an Act.
8. This Act will destroy the money police powers, enable the massive expansion of money and credit, weaken the banks capital ratios and encourage indebtedness.
9. We will triple money supply, halve its price and halve it quality.
10. We then need pushers. To make them good pushers we also need to make them addicts. So we will give all this money to the banks.
11. The banks will need users. We will encourage the banks to increase the number of users and the size of their habit, and make the whole thing such a high that the users keep on taking bigger and bigger fixes.
12. Since we now control the whole process of money and debt, what could possibly go wrong?
13. 2008. Oh shit!
Debate Magazine
