THE LAST DITCH An Englishman returned after twenty years abroad blogs about liberty in Britain
Economists condemn Chancellor's spending plan
These islands belong to the rats

Gordon Brown vows to borrow way through recession

Financial crisis: Gordon Brown vows to borrow way through recession - Telegraph

All over the country, businesses live in fear of their overdrafts being cut. If they don't have short-term facilities to cover the period it takes to collect their own debts, some perfectly good businesses will go down. It's already happening. How is the PM proposing to help them? He is going into the debt markets to compete with them for the limited supply of money. Given the choice between a debtor underwritten by taxpayers, both living and yet to be born, and a regular business, which do you think the financiers will choose?
Reagan's wisdom was never more apposite.


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