Daniel Hannan Blasts Gordon Brown on handing of the Economic Crisis

By: Mike_Shedlock

I commend Daniel Hannan who had the courage to blast Prime Minister Gordon Brown on his handing of the economic crisis. The Mail Online picks up the story in the Tory who told Brown to his face that he's a disaster .

Here are a few snips from his speech:

'Prime Minister, I see you've already mastered the essential craft of the European politician: namely the ability to say one thing in this chamber and a very different thing to your home electorate.

Perhaps you would have more moral authority in this House if your actions matched your words, and perhaps more legitimacy in the councils of the world if the United Kingdom were not sailing into this recession in the worst condition of any G20 country.

We are now running a deficit that touches 10 per cent of GDP, an almost unbelievable figure - more than Pakistan, more than Hungary; countries where the IMF has already been called in.

You cannot spend your way out of a recession or borrow your way out of debt. And when you repeat, in that wooden and perfunctory way, that our situation is better than others, that we are well placed to weather the storm, I have to tell you, you sound like a Brezhnev era apparatchik giving the party line.

You know and we know and you know that we know that it's nonsense. Everyone knows that Britain is worse off than any other country as we go into these hard times.

The IMF has said so. The European Commission has said so. The markets say so, which is why the pound has lost a third of its value.

In a few months, the voters will have their chance to say so, too.

They can see what the markets have seen: that you are the devalued Prime Minister of a devalued Government.'



Moreover, that is exactly what someone in Congress needs to say to Geithner, Bernanke, and to Obama for their fiscal recklessness and bank bailouts at taxpayer expense.

By Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

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Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management . Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

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