The tide is taking us over the edge! Britain’s AAA Rating

Paddling on RapidsFollowing the downgrade of Britain by Moody's, one of the biggest global credit rating agencies, the Chancellor pledged that his resolve to stick to the Coalition's economic strategy is "redoubled". Surely not. Doesn’t that mean our problems are just going to double?

Message to Chancellor Osborne: Before the 2010 general election you were vowing: "We will maintain that AAA rating." George, you’re not; for those who may have read some of my ramblings before, you may remember, it’s at this point that I say a little prayer: God help us, for there is worst to come.



Osborne insisted that the Coalition will not change course on the economy, saying the downgrade made it all the more important to stick to attempts to cut Britain’s deficit. So, let’s get this straight. We’re in a boat (it’s the boat that we are all in together), we’re all paddling like crazy and its causing us a lot of pain (if you’re rich you don’t have to do much, if any of the paddling, some other poor, poor sod does it for you). Because of the speed we are trying to maintain there are many who not only feel a lot of pain, but in an attempt to make the boat lighter are being thrown overboard. Also there are many in this boat called Britain that are calling on Osborne to slow down (just a bit), put a bit of money into buying some engines to help generate some motive power, and the bit that I dread the most; up the river a little way the boat goes over a waterfall, so we really need to change course (just a bit).  Then, as if that’s not bad enough, on top of everything else, on the river bank, some critic called Moody’s tells the world he is not impressed by our efforts; he doesn’t think we’re doing it right.

So what do you think our millionaire Chancellor (who wouldn’t know what hard up was until it hit him in the face), said? He said: "I think we've got a very clear message, a loud and clear message that Britain cannot let up in dealing with its debts, dealing with its problems, cannot let up in making sure that Britain can pay its way in the world”. Yes, but not this way, it will lead to a worst situation than many can imagine.

What am I talking about? Well let’s look at this mess from another angle. Unemployment in Europe is "unacceptably high" and threatens "grave social consequences", the European Commission has warned as it painted a gloomy picture of the Euro Zone’s troubled economy.

The Commission predicted that France's economy would grow 0.1pc this year, and 1.2pc next year.  Germany's is expected to expand by 0.5pc in 2013, while Spain is forecast to shrink by 1.4pc this year.  Note; Spain’s economy is forecast to shrink by 1.4pc.  Greece, Portugal and others are not going to be any better.  The point being they are all locked into the same way of dealing with their debt, and it’s doing no one any good.  Anyone who believes that this unholy mess can continue to be bailed out by German taxpayers into the distant future is living in dreamland.  Just watch the civil unrest develop and grow in Spain and other areas of the EU.  Human nature tells me that it will not be long before people in this country will say enough is enough.  The gap between the rich and poor is getting bigger than ever and can only lead to disquiet.  The Euro story might be a very slow motion train crash but the outcome is inevitable no matter how long it takes.

Ship Wreck

The rot in this country started way back in 1979 when the then Tory government sold all the family silver i.e.: gas, electricity, water, railways, and telephones etc., sold most of the affordable housing i.e. council houses; created mass unemployment by allowing industries to die, instead of investing the nest egg in new technologies and deregulated the very banks that got us into this mess.

Now we have the cost of filling up a car at a new high as the price of a gallon of diesel burst through the £7 barrier. The sky-high pump charge was recorded at Chieveley services on the M4 in Berkshire, where diesel was priced at 155.9p per litre, or £7.09 a gallon. It comes just a day after the AA revealed the cost of petrol had jumped by more than 6p a litre this year. This just piles more pressure on George Osborne to cut fuel duty in the Budget, and so it goes on.  And do you know what really worries me?  It’s the lack of sensible advice and direction from Milliband and Balls – what an opportunity for these guys and others in opposition to step forward and impress us with their vision and statesmanship!

Is there anyone able to save us from going over the edge?


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