That’s What Lack Of Experience Does For You

Way back in 2010 a small little article slipped through, almost un-noticed.  Mervyn King, then Governor of the Bank of England felt that George Osborne and David Cameron were “out of their depth”

You can read the article here

Paraphrasing, he felt that they were presumably too young and lacked experience to be Prime Minister and Chancellor.  Few would argue with him now.

He thought that the dynamic duo had ‘not fully grasped’ the problems they would face in tackling the economic crisis.

He was quite scathing in his view that they ‘had a tendency to think about issues only in terms of politics, and how they might affect Tory electability’. Mr King harboured serious doubts about the ‘lack of depth’ in the Conservative leadership 

In private conversations with American Ambasador,  Louis Susman, he said he had repeatedly pressed Cameron and  Osborne in private for details of how they would cut the deficit but had ‘received only generalities in return’. Susman would later inform Hilary Clinton that, in his view, Cameron and Osborne “lacked experience” and that “Mr Cameron and Mr Osborne have not fully grasped the pressures they would face from different groups when attempting to cut spending.”

The end result, as we all know, is that they were left, almost unchallenged, to blunder along in their naive attempts to run a country and we have arrived at the situation we find ourselves in today.  Between them they have screwed the hole foundation of our once great country, and are STILL too arrogant to listen to, or take advice from anyone.

Such a tragedy that more people didn’t get to see the thoughts of Mervyn King 5 years ago.

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3 Comments

  1. This Chancellor has raised the National Debt to its highest levels in history whilst presiding over a policy of Austerity. He has blamed the previous administration for the financial crisis of 2008 whilst ignoring the profligate lending policies of the banks which caused the huge housing bubble on both sides of the Atlantic. Then when Gordon Brown introduced the policy of quantitative easing to enable the Banks to lend the banks failed to utilise that money to invest in business instead using it to raise their profits and pay their shareholder. No worries though Gideon had loads of Public Assets to sell off to his friends. (On a when it is gone it is gone premise) £37.7bn in privatisations so far and and intends to sell off another £20bn by the end of the next financial year (Independent 26 Dec 2015) In 2005 the UK National Debt was less that £0.5 trillion. But then came the worldwide financial crisis of 2008 and subsequent recession. The National Debt increased rapidly and went over £1 trillion in 2011. At the end of the 2015-16 fiscal year, the National Debt is expected to go over £1.5 trillion So what has Gideon got up his sleeve to actually get us out of this mess and why do the mainstream media let him get away with it ??

    • I haven’t a clue what the mainstream media are doing, not reporting on a growing domestic crisis that’s for sure. Family silver is being sold off left, right and centre and local councils of all colours across the country are finding themselves in dire straits. Who loses? Ultimately Joe Public every time

  2. We will be left as a very impoverished country that’s what will happen. Will have allowed the liberal left and ‘trendy’ intellectuals to break down social cohesion and discipline and old British values have been swept away. Rampant consumerism is keeping the economy affloat but with a largely unwilling and poorly educated workforce we won’t be able to rely on Chinese imports for long. WE will have to start making cheap rubbish for 20p an hour because the Chinese workforce will refuse to. We will become increasingly dominated by rich Islamic nations too that splash their cash about buying up whole swathes of London. Dark times are ahead.

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