SNP Economic Fantasy Land of Cutting the Deficit AND Increasing Spending!

By: Nadeem_Walayat

For left of centre SNP the economic numbers have never needed to stack up in Scotland for the Scottish economy is bribed to stay in the UK via an annual £9 billion Barnett formulae block grant that results in 20% extra public spending per head than for England. So whilst being within the UK it just did not matter for instance that Scotland's primary revenue earner, the oil industry has just collapsed following the crash in the oil price for England has always picked up the tab regardless.

However, now the UK faces a clear and present danger the likes of which it has not seen since at least the economic chaos of the 1970's when Britain was seen as the sick man of europe with GDP per capita a good 1/3rd less than the likes of France and Germany, an economic catastrophe that took 30 years to overcome to the present day state where Britain's per capita GDP matches that of France and not that distant from that of Germany.

However, all of that is due to end with the advent of a Labour - SNP Government both of which vying with one another with fantasy land economics such as the SNP's claims that as if by magic they will both cut the deficit and increase spending if they get their hands on the levers of power at Westminister via an inept weak Milliband minority Labour government.

The following video cuts through the usual SNP fantasy propaganda to reveal the truth about just how economically clueless the SNP really are and the great potential for economic disaster that Britain faces as the SNP's primary objective is literally to destroy the UK from within so as to achieve their fantasy land promised land of independence where the oil price is said to be trading at $200 a barrel instead of the present day Scottish economic collapse inducing $45.

Therefore whilst both Labour and SNP may be singing from the same tune of cutting the deficit and increasing spending. However their objectives are completely opposite, where Labour wants to bribe voters whilst the SNP want to destroy the UK.

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By Nadeem Walayat

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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

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