controlled demolition

Niall Ferguson, not surprisingly, argues in the Speccie, also not surprisingly, that the Tories should deliberately crash the economy for ideological reasons – 1979-80 style – and then call in the IMF.

This idea has apparently already “been doing the rounds in Tory circles.” But I guess that’s not surprising either. 

It kind of fits in with Cameron’s plan to storm the gates if he doesn’t get a majority. The general feel of the Tory campaign over the last few days has been of people nerving themselves up to do something drastic. 

On a local note, there’s a car cruising the streets of Crumpsall right now – quite a snazzy late model VW Passat – telling the broad masses to “Vote Respect – for cleaner streets and brighter parks”. We seem to have come a long way since Gorgeous George went to America to beard the Senators in their lair.

One thought on “controlled demolition

  1. ye gods, Ferguson has always been an arrogant fool but at least now we can see it for ourselves. The UK might have too much debt but this is ideological ferment gone mad. The idea the economy would magically bounce back if one of the biggest actors in the economy suddenly stops spending is madness. My worry is that this is the kind of thinking that is really going on behind the scenes of right-wing circles.

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