CHASING THE DEBT Mk. II.

The world economy, now includes a downturn in the growth of the Asian countries, China in particular. China needs a growth rate of at least 8% annually to stay on course, but is now falling short of this target. This has thrown the International Monetary Fund into a big panic. The IMF has been concentrating on bailing out the Euro, that being the fairytale currency which is dragging the Eurozone into a major disaster area. In so doing, it has been operating beyond its remit, by helping to prop up the currency; acting illegally.

In response to these dire situations, the IMF appears to be on some kind of 'road show', in an attempt to draw fire from these calamities; Christine Lagarde, Managing Director, playing the lead, along with its top economist, Olivier Blanchard, have decided to humble the United Kingdom Government, suggesting that the austerity measures are not working, which gives the impression that Britain must return to higher borrowing. Bearing in mind that the UK has a National Debt of a nominal £5trillion, thanks to the last Labour regime.

So who are these characters making up this charade? Both French. France as a nation has been borrowing heavily since the mid-seventies. The Euro is bound to collapse, if not totally, certainly, in the case of the Mediterranean countries. The result either way, will turn out to be a 'tsunami' for the French economy, not that it will do the rest of the European nations any good; German goods, in particular, will be too expensive for many of the casualties in southern Europe.

The 'smoke screen' having been set in place, requires a strong response from the UK Treasury, with some real austerity introduced.

UP TO NOW, THE GOVERNOR ELECT OF THE BANK OF ENGLAND DOESN'T INSTILL MUCH CONFIDENCE.

THE PERFECT FINAL ACT FOR MAGGIE.

I recall well an evening in the mid 1970's, having checked in at an hotel near Wakefield in Yorkshire, seeing on the TV news that one Margaret Thatcher had been appointed leader of the Conservative Party. This was a ground breaking move, having been made leader of a party with many 'toffs' in the ranks. Her mentor, Sir Keith Joseph MP, had seen something in her attitude which exuded economic pragmatism. The rest we know is now history.

One can imagine how the Labour Party reacted to her becoming Prime Minister in 1979; the Conservatives of all parties, having the effrontery to produce the first female Prime Minister. Naturally the unions, who had caused the mayhem under the outgoing Labour Government; with piles of rubbish adorning the streets of London and unburied bodies in Liverpool, due to striking gravediggers. The unions nevertheless were going to do their utmost to destroy Mrs. Thatcher by whatever means at their disposal. Striking was of course the obvious tool in their armoury.

Enter Arthur Scargill, stage far left, the leader of the 'Marxist' National Union Of Mine Workers (NUM). His claims demanded that not one colliery was to close until it was totally clear of coal. They were already heavily subsidised by the rest of taxpayer GB. The strike, without balloting the membership, went on for months, which naturally was forcing much of industry to seek other forms of energy. In addition, the Nottinghamshire coal miners, who had seen through Scargill's political manoeuverings, formed a breakaway union, the Democratic Union Of Mine Workers, which managed to keep the coal fired power stations burning for the duration. When the strike was defeated, Scargill was totally discredited; but the martyrs, aided by the 'deep pink' BBC carried on their whingeing to this day. Even on the day of the funeral, they had to visit a number of old pit communities, where the 'Beeb' continues to point the finger of blame at the Thatcher Government, when naturally, the blame should be firmly on the shoulders of Scargill.

Perhaps we can look at some facts: More pits were closed down during the two terms of Harold Wilson's Labour Governments than the three terms of Margaret Thatcher. Letters to the press this week make some salient points. Ian Oxley from East Yorkshire relates the story of his early days when he was a mining engineer apprentice. The year was 1959, twenty years before Mrs. T stepped foot inside Downing Street.  They were called to a meeting by the regional director of of the National Coal Board, to be informed of the programme of pit closures for the next ten years. Of the 630 remaining mines, 300 would be closed down.

Another irritant to the bombastic, name calling 'left', was her supreme humanity; stories of praise come from legions of everyday folk, many having worked for her. One such story however is relayed via journalist Tom Utley, whose father was treated by Mrs T as a sort of sage, giving her intelligent feed-back regarding the mood of the country. On receiving news of his death, she was in Toronto at a G7 summit, such meetings can extend well into the night. Nevertheless, before retiring, the Prime Minister, wrote a five page letter to the widow. At the subsequent funeral, Mrs. T arrived an hour early, leaving the clergy etc., somewhat perplexed, when someone plucked up courage to enquire, "had she got the time wrong?", she pointed out that had she arrived nearer the time of service, she could have upstaged the mourning widow. It didn't stop there. On leaving, she insisted that the funeral cortege should lead the way, and must not be deflected by her presence. Some time later, the PM graciously planted a tree in the deceased's memory; this was of course destroyed by her dim socialist enemies.

Immediately following her death, the under-educated 'left of centre' mob, via the internet, created a record hit with the Harold Arlen/Yip Harburg song from the film 'The Wizard of Oz', 'Ding Dong! The Witch is Dead'. What is interesting here is that Harold Arlen's son, along with two surviving actors, members of the film's cast, both in their nineties, consider this act to be completely abhorrent.

Finally, the socialists will maintain that Tony Blair also won three consecutive General Elections, which is true. There is a difference, however, Maggie only promised hard work, whereas Blair promised the big 'give away', something that will cost us for decades to come.

A WARNING TO ALL OF EUROPE, "BEWARE THE ENEMY WITHIN".

THE BRUSSELS PROTECTION RACKET.

Currently, here in Britain, following the Leveson Enquiry regarding the practise of phone hacking, which turned out to be reminiscent of a BBC outside broadcast; the net result and recommendations were to advise the curbing of centuries of freedom of the press. This posting is not opposed to the perpetrators of such crimes being charged and dealt with through the courts; this indeed is what happened. What is now emerging, is evidence of funds from the European Union Commission finding their way to groups who want government controls over the press. Something that delights the political left here in the UK.

We have made the point on a number of occasions, that we might never have known of the circumstances which finished the political aspirations of Dominiqe Strauss-Kahn had it not been for the free press of the USA. Such behaviour might well have passed unheeded, and Strauss-Kahn would now be the socialist president of France. Naturally, politicians throughout Europe would hide their misdoings behind legislation, denying the electorate of such vital information.

SOCIALISTS RELISH SUCH THOUGHTS.

HERE WE GO AGAIN.

Now, there is a surprise. Before the rescue agreement to bail out the Cypriot financial crisis, they need a considerable 'top up', in addition to the original rescue package recently agreed. We can add to this fracas, the fact that Ireland and Portugal are looking to reschedule their loan repayments; one wonders how much they have paid off so far, if anything.

These childlike shenanigans, we must admit, do make wonderful entertainment value in searching out Nigel Farage and Daniel Hannan on Youtube in the Brussels Parliament, with their intelligent questions and responses. This makes such a refreshing change from the normal delegate reaction, who would normally just clap at any reassurance espoused by the dim commission, kidding them on that everything is under control; reminiscent of communist regimes. What is it about left wingers that makes them have to lie? Probably the fact that they could not hold down a proper job in the real world.


THIS COULD BE THE START OF THE ULTIMATE CREDIT CRUNCH.