Wednesday, March 25, 2009

Even the bank of England gets it

They are imploring England to stop spending as they can't afford it anymore.

The Governor of the Bank of England stunned Downing Street yesterday by warning against a giveaway Budget next month.

Mervyn King said public finance deficits were too high for big tax cuts or bumper spending increases on April 22.

The extraordinary warning to Gordon Brown not to blow billions on a second 'fiscal stimulus' came perilously close to breaching the convention that the head of the Bank does not question Government policy.

Tories said it blew a hole in Mr Brown's plans for next week's G20 summit in London.

At least someone gets it in England too. Hopefully more people here and around the world start to get it to. The more we spend and print money the more our currencies are going to be devalued and that will just lead to more inflation. I know this has been a common theme here lately, but I just can't help it. We need to start up to these tax and spend politicians and tell them to stop devaluing our money.

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