Brown’s Gaffe; British Politicians underestimate the UK public
There is an interesting phenomenon in the UK that the public do have an excellent grasp of how serious our fiscal deficit is. In fact since 2008 they have been several steps ahead of what the politicians have been trying to paint over. Last night Mrs. Duffy made possibly the correct observation that taxes will rise and stay high for 20 years. 20 years; quite.
Unfortunately others like Mr. Mandelson warn us that comparisons with Greece are merely attempts to engender fear. I don’t think so. Unlike 1945-1951 where War debt was seen as worth paying for, the public might not accept the mismanagement of the Economy and incompetence of the banking sector.
Stay with Gold.