Very Expensive Credit

We hear much about the corporate usurers still being allowed to issue payday loans at unbelievable interest rates and we have also heard much of late from George Osborne about how he deserves the credit for the recent economic uptick. Very expensive credit if you ask me. Utterly unbelievable – and grossly unfair to boot!
This is because a couple of months ago I stood on my head in the corner and said ‘gobbledegook’ three times and that’s obviously what caused the economic improvement! The two things have clearly gone together and if Mr O hadn’t messed things up with his wretched austerity policy, I’m sure that my ‘topsy-turvy gobbledegook’ method would have produced even better growth!
I would agree with Mr Osborne on one thing if no other - that the debate on whether his policy works or not is settled. In fact it was settled at the outset – his upside down economics have made things much worse and cost the country dear.
As corroborating evidence compare our performance with countries that have adopted more reasonable policies. The result of such a study is that our GDP growth is 3 percentage points down on what it otherwise would have been – and perhaps the recovery would have been founded on something more substantial than a consumer credit surge and an election geared housing boom.
I have recently been reading a very interesting book called ‘The Victorian City’ about London in the time of Dickens. Perhaps Mr Osborne and his friend ‘The Quiet Man’ have been reading this too, no doubt admiring the medicine of the time and the century before and the conditions of the less well off in Dickensian society.
Mr Osborne perhaps noted that some patients in Victorian times who had been bled and leeched sometimes got better. Obviously draining the lifeblood out of the patient works! Go leeches! Of course, we won’t concern ourselves with how the sickly individuals would have got on without the bleeding and leeching? A good three percentage points better I think.
We’ve got the best part of two more years of the government’s flawless logic and all the misery and bias that follows from it, but then perhaps we’ll see an end to it. One can but hope that they’ll pay the price of that expensive credit on election day.