Sunday, 27 November 2011

There is no Plan B - only Plan P for Panic

The noxious outpourings of politicians are merely graded by their degree of rebarbativeness.  Next week, George Osborne will present a Pre-Budget Report that has been trailled as the great opportunity to demonstrate how the great British basket-case is much better off than those pesky European economies, and how pulling up the drawbridge in an age of globalisation is a rational response.  He will probably convince the "Daily Express" but nothing and nobody capable of sentient thought will buy into the pernicious hogwash emanating from the (hotly-contested) smuggest member of the current chinless Cabinet.

We have spent eighteen months being told that there is no "Plan B" from the hair-shirt regime that has been prescribed for us.  Now Osborne will have to face up to the facts that the idolised private sector will not generate jobs, that his craven sucking-up to the City will not deliver the reform process that (cue gritted teeth) Gordon Brown and Alastair Darling kicked off.  The wheels have come off the pseudo-monetarist experiment, and that is clearly the stage at which, following a change of underwear, he will present U-turns and interventions in the market as part of a wider strategy when all they are is a rediscovery of the Keynesian verity that microeconomic measures do not make a macroeconomic policy.

The breakdown in government policy is not confined to the economic sphere.  Although the "Occupy LSE" movement does not have any coherent ideology, it represents the activist vanguard of the general dissatisfaction and frustration that people are feeling.  "We're all in this together" is the hollowest, most ironic mantra perpetrated by trustafarians on the wider populace for many decades.  The news that the rich are evading stamp duty, council tax and that they are still moaning for more concessions, while public sector workers face pay freezes and much higher pension contributions will not exactly discourage people from taking to the streets this Wednesday in a further display of rage.  While the economy founders, the parasites at the top go on awarding themselves remuneration and tax avoidance packages to the extent where even Dr Vince has been forced to emerge from the coffin of BIS and embrace the High Pay Commission's findings.

It will be interesting to note exactly what rabbits Osborne pulls out of his hat, although he is increasingly resembling a hamster with pellets of Class B hallucinogens stuffed into his cheeks - a charitable explanation for the cretinous platitudes with which he berates the rest of the world.  The sleight of hand will be marked only by the condescension and disdain for the lower orders whose activities allow his cronies to keep their fingers in the till.  Watch for the revolution.

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