As I said - "events, dear boy, events".
Who would have thunk it ? Three weeks ago you couldn't turn on the telly or open a paper without seeing that nice Mr Cameron or the lovely Samantha. It was a close call in the media bashing stakes between Gordon Brown and Gary Glitter.
Now Gordon bestrides the financial world like a colossus - with Europe and America following him. Gordonomics has raised the Nikkei by 14% in one session where Paulson and Bush's interventions brought continued collapse.
In some ways he's been more of a world leader than Blair ever was - and what were the odds on that ever happening ?
It won't last. As far as I can see he wants to solve the crisis by restoring the property overvaluation - in which case we may get another collapse in a few more years. The British economy is still completely knacked - more than ever at this level of government borrowing. Manufacturing shot, education shot, criminal justice shot, culture shot, huge tax-funded ('child poverty') demographic change with all the potential for civil strife that brings.
But he's at least given me a breathing space in which to liquidate a chunk of my shareholdings, fortify the house, dig a cellar and a well and invest in gold, a rotovator, and several thousand tins of beans. Cheers mate !
UPDATE - various commenters have accused me of "following the BBC cheerleading" etc and generally having an incorrect attitude to the worst Chancellor in the worst Government since the Baldwin/Chamberlain years.
Let me put your mind at rest. GB has been, and is, a disaster. If by some tragedy he were to win the next election a grievious thing 'twould be. And his 'reforms' won't solve our problems - maybe not even his problems.
Nonetheless it would be churlish not to acknowledge that in this crisis he IS leading - and is seen by others to be leading. It may just be chance that indices plunged following both the rejection and the acceptance of the Paulson plan, where Gordon's second, nationalising stab at the issue has produced a measure of market recovery. I believe that he's doing more or less what the Swedes did in the early 90s. But ... in the country of the financially blind ...Maybe he's just lucky. So far.
Back to normal
6 hours ago