Tuesday, 21 August 2012

UK Borrowing in July – different to what was expected.



Well, there’s a piece of news that wasn’t unexpected! The government has no idea what it is doing! Greece is about default while we have increased borrowing by 9 billion in the same period as in 2011. One again, it is clear that the politicians and civil servants who concoct all this nonsense are buffoons and number crunchers that could not make it in the private sector. The problem is that economics is not a science. If you drop an apple - the last time I checked - it will move with increasing speed in a downward direction – a scientific law. There is a global recession but the government didn't predict that North Sea oil production would decrease and thus affected corporation tax in a downward direction. Even so you cannot predict economic activity to the extent that the + or – error is de minimus. The + or- errors are adding up to be catastrophic. Human beings are capable of landing things that take nice pictures on Mars – the things also do soil samples too - unlike my Canon 400D. Why can we devote the same pedantic hard headed determination to get things right when it comes to the economy? Even if it isn't a science, some proper smart Alecs and Alices could do a better job the bunglers in the government.

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