Is increased borrowing the way to fix the economy?
As interest rates in the UK plummet to the lowest theyve been in years, we have to ask ourselves whats the strategy.
Gordon Brown is the reason we're in this mess, he was the chancellor during the good days when people were encouraged to borrow borrow borrow, offseting loans against their homes, tkaing out mortgages that were five times their income etc.
Now those days are gone, Gordon seems intent on trying to fix the economy buy encouraging people to borrow even more! This is a recipe for disaster, instead of pouring more money into the banks.... whose incompetence and greed caused the problems we should be addressing the true problems, restarting the economy buy supporting businesses long term, not giving them short term boosters (eg VAT reductions).
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