The economics of a hung parliament


I know that it will come as a huge shock to everyone but you can’t believe all that you hear and read about the impact of a hung parliament. Whilst Gordon Brown drags himself and his insincere smile (how can we be sure that is what it is?) around UK and “slip up” by slagging off punters voters AT LEAST HE DID NOT AUTHORISE THAT APPALLING AND CRINGE-WORTHY PARTY POLITICAL BROADCAST THAT THE TORIES INFLICTED UPON US LAST WEEK!

The Tory shadow chancellor, George Osborne, unveiled the cynical film that portrays a “hung parliament party”, offering nothing but behind-closed-doors deals and “killing the economy”. The Tories are also reiterating their highly contestable claim that a hung parliament will result in economic meltdown — a claim that many independent financial experts dispute.

George travels to workDo I trust George Osborne more than I do A Darling Esq? Simple truth…NO!!! There are lepers who are more comfortable in their own skin. He speaks with very little confidence, less conviction and zero authority. I felt sick FOR him as he spoke at his own Party conference and wished that his mother or carer had just reached out and held his hand as descended the steps from the auditorium. How could I (we/anybody) trust someone who walks with all the co-ordination of a Thunderbirds puppet and looks understandably concerned that his leader or any others in the orderly queue behind him may cut the strings at any moment.

Moody’s – one of those ratings agencies who were once thought to be about to plunge Gordon Brown into the abyss my slashing Britain’s credit rating – said this:

“We do not think that a hung parliament will have a direct impact on the UK credit rating. If you had a fiscal plan agreed by a coalition, that could actually be quite positive, because it would imply broad popular support.”

What the markets fear is a “chaotic hung parliament” – as one market participant put it to me – with “the DUP, Plaid, SNP – and maybe one each of Respect, BNP or the Greens holding the balance of power”.

BBC – Newsnight: Paul Mason: The economics of a hung parliament

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