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April 26, 2009



I'm never sure what the point is for a country with floating currency and local currency denominated debt, but the time to take out a huge IMF loan would be presumably on taking office.

So there's my prediction. With "cap", or whatever Cameron/Osborne wear, in hand to the IMF, July 2010.


One rather conspiratorial reading of the whole Draper/McBride affair is that anyone left who matters in the Labour Party wants the Tories to win big in 2010, the Brownites to fuck off somewhere in ignominy and for Cameron's crew to screw things up so badly that a suitable son-of-Blair reasserts the natural order of things come about 2014. The last thing they want is someone competent running their online operation. The second last thing they want is for whoever the Chosen One is to be in power just now and associated with the current clowns.

I'm assuming no one believes for a second that the affair was a triumph for the selfless and noble paladins of the right-wing blogosphere.


No, but as simpler argument would be that these people live in a Westminster village world of their own, this is the stuff they do, sometimes they get caught, sometimes they do not get caught.


Indeed. I strongly suspect the Tories of planning a deliberate IMF crisis in order to pursue ulterior objectives, especially WRT two other well-known British TLAs. They are already blatantly trying to spook the gilts market...but then, no-one bets against Nat Rothschild and wins.

Richard J

I can figure out one - what's the other non-NHS one?


BBC. And I reckon a lot of MOD doesn't have much chance either; all the expensive stuff (Nimrod, ASTOR, the R1 replacement, lots of navy things, air transport, tankers...) that contributes to our sovereignty but doesn't get PARAS BLITZ DRUG TERROR headlines in the Sun is at risk, cos the yanks will provide....won't they.

Richard J

Ah, alles klar.


If Alex is right and the Tories want to starve the beast, as it were, why don't they just call for a 99% upper tax rate? Laffer says that's supposed to obliterate tax revenues, right?

Perhaps they don't really believe all that small state and back-of-a-napkin graphs crap after all.


The laffer is drivel, but the IMF really works.

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