Saturday, 29 March 2008

Another fine mess

Every Labour government ends in catastrophe for the country. A truism which has taken about nine years longer with the present Government than with its Labour predecessors. However, it is obvious that the wheels are coming off big time. The housing market is in freefall; banks are raising their interest rates at the same time as the Bank of England is cutting the base rate; unemployment is rising; the one industry we have left in this country is in banking and finance and that is a basket case right now; propping up a failed bank and its workers in Labour constituencies has burdened the country with a gargantuan debt.

And there is no end in sight. What brought it home to me was firstly discovering that the mortgage interest was going up, followed by learning that my lender is one of the banks currently increasing its rates in order to discourage new borrowers because the banks themselves don't have money to lend right now, then noticing that the interest charged on my credit card has shot up by a good 50% in the last few years. If times are looking more difficult for the Didactophobes there must be literally millions of our compatriots out there feeling the hurt.