David Cameron has been huffing and puffing, and stamping his feet all day that Britain would not be held to ransom to the tune of a £1.7 billion 'adjustment' that the European Commission Mafia has conjured out of thin air as the Vig that Britain must pay by 1st of December for apparently economic activity attributed to the black economy such as prostitution. Conversely the EC Mafia's God Fathers, France and Germany rewarded themselves a comparable sum of near £1.7billion as a reward for being at the centre of the European Crime Syndicate.

David Cameron responded - "What makes me so angry about it is when you listen to some in the Commission, how they talk about it, oh well its an adjustment you just have to pay this bill that's the way it goes, sometime it goes up sometime it goes down. This is tax payers money, these are the people who employ me, I represent them and I want value for every penny they have to give in their taxes."

"It is not acceptable, it is an appalling way to behave, I am not going to pay that bill on the 1st of December if people think I are then they have another thing coming, its not going to happen".

The irony is that the economic statistics that the EC is billing the UK on are BOGUS! Because the inflation figures are bogus which means REAL GDP has ALWAYS been much lower than that which is being reported for public consumption! The government economic propaganda statisticians never imagined that their fiddling of the figures would result in a penalty for Britain! So David Cameron should come clean to the EC Mafia by stating that real GDP is far lower than reported therefore the UK is due a rebate instead of a bill.

The bottom line is that this is a test of David Cameron on whether he is a man or a mouse for if he fails this test and gives a single extra penny to the EC Mafia then he SHOULD resign as Prime Minister as he is clearly not upto the job no matter plenty of huffing an puffing for mass media consumption. Though Ed Milliband would be an infinitely worse Prime Minister, whilst Clegg and Farage are living on another planet so it is no wonder that the people of Britain are sick to death of the BS rhetoric that politicians without any backbone tend to spout in front of the cameras that NEVER matches actions.

I fear our spineless Prime Minister will eventually hand over a cheque for £1.7billion, his strategy will clearly be to attempt to delay the payment of the Vig until AFTER the May 2015 general election!

UK General Election Forecast

My longstanding forecast for the outcome of the next general election is as excerpted below -

30 Dec 2013 - UK House Prices Forecast 2014 to 2018, Inflation, Trend Trajectory and General Election 2015

In conclusion a May 2015 general election at an average house price inflation rate of 8.5% would result in a Conservative overall majority of at least 30 seats. Therefore this is my minimum expectation as I expect UK house prices to start to average 10% per annum from early 2014 with my actual forecast converging towards average UK house prices breaking to a new all time high just prior to the May 2015 general election which would be a significant boost for housing market sentiment and thus the Conservative's election prospects.

Source & Comments: http://www.marketoracle.co.uk/Article47895.html

By Nadeem Walayat

http://www.marketoracle.co.uk

Nadeem Walayat has over 25 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

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