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Five Labour administrations, five devaluations

James Bartholemew asks a very pertinent question: why is there always a run on the pound when Labour is in power?

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Reader Comments (4)

We will have to start calling Gordon, Mr. Creosote (Monty Python sketch)
"Just one little wafer Monsieur"
Dec 12, 2008 at 7:35 PM | Unregistered CommenterChris
More like Richard Potato, Dick Tater to his friends.
Dec 12, 2008 at 7:57 PM | Unregistered CommenterSan
It's not a real problem.

If your core philosophy is that an educated elite can spend society's wealth better than the individuals within that society, then faced with a failure to improve outcomes, you either stop believing that or you increase the amount of wealth that you spend.

We should be grateful. The piles of dead bodies that invariably result from more revolutionary philosopher king societies surely are caused by the same frustration at their inability to remould society. Democracy at least slows the death spiral.
Dec 15, 2008 at 11:07 AM | Unregistered CommenterTDK
Have you met our dear leader, Salvatore Mundi?
Dec 15, 2008 at 4:30 PM | Unregistered CommenterPericles

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