July 2024

Will there be a Starmer sterling crash?

Friday-weekend blog

Media attacks on Tucker Carlson

Before I start this blog, I just wanted to make a brief comment on the confected media outrage over Tucker Carlson interviewing Vladimir Putin. I suspect the reason much of the mainstream media loathes Tucker Carlson is because he’s not (as far as I know) a limp-wristed, women-can-have-penises, open-borders-supporting, Islam-loving, West-hating, climate-doomster, fake-vaccine-pushing ‘progressive’. However, as Carlson faces a barrage of criticism for interviewing Putin, let’s not forget that in November 1990, just prior to the Gulf War, our very own Trevor Macdonald interviewed Saddam Hussein in Baghdad:

I don’t remember any howls of outrage from the media back then. So, any attacks on Carlson are probably fuelled mostly by political differences and professional jealousy and are beyond hypocritical.

The coming Starmer sterling collapse?

We all remember what happened when Margaret Thatcher mini-me Liz Truss and her economic genius of a chancellor, Kwasi ‘Khazi’ Kwarteng, tried to inflict their ‘bold’ new economic policies on our long-suffering country. There was a collapse in the value of the pound, interest rates shot up and the fake Tories were forced to ditch Truss and Khazi to avoid further economic chaos.

Well, since the Truss/Khazi debacle, Britain’s economy has not improved. Government spending keeps rising:

This is not so surprising when the useless Tories throw our money around like confetti. For example, under the fake Tories the number of our mostly useless civil servants has shot up from around 380,000 in 2016 to 489,000 in 2023.

As our economy has been fairly stagnant and so tax revenues haven’t kept pace with public spending our deficit and therefore public debt keeps rising:

Though I suspect that most of our intellectually-challenged, expenses-fiddling MPs don’t even know the difference between deficit and debt. I will not insult readers by explaining the difference here.

And we now pay more in interest on our debt than we do on defence and will soon be paying more on debt interest than we do on education:

(left-click on image, then left-click again to see more clearly)

Looking forward to the coming wipeout of the lying, incompetent, worse-than-worthless fake Tories in the 2024 election, we’ll get a tax-and-spend Starmer government. Public spending will increase, the deficit will increase, debt will increase and so debt interest payments will increase.

Why the economy can’t grow

Starmer and Reeves and all the other numpties in Labour will claim that they can increase spending because they’ll build Britain as a world clean energy superpower. This, of course, is flatulent nonsense. In my previous blog, I showed there was a direct relationship between a country’s use of supposed ‘renewable’ energy and energy prices. The more wind and solar a country used, the higher its energy prices:

Just in the last few months we’ve seen the effects of high  energy prices on British industry – about 2,800 jobs lost at the Port Talbot steelworks and 400 out of 500 jobs lost with the closure of the Grangemouth oil refinery. In previous blogs, I have also shown how high energy prices have been a major contributory factor in the decline of British manufacturing:

Of course, you can’t expect any of our MPs to understand that high energy prices make British industry uncompetitive and so companies move their manufacturing to countries like China where energy prices are around a quarter of those in the UK:

(left-click on image, then left-click again to see more clearly)

What Reform UK’s boss, Richard Tice, has referred to as “Starmergeddon” is coming. UK debt will rise, financial markets will lose confidence in the UK government and the interest rates we have to pay for borrowing will shoot up. There will be huge pressure on Starmer/Reeves to cut public spending. But they won’t because increasing public spending is a Labour Holy Grail. Instead they’ll push up taxes on an already over-taxed public.

It really is strange to see our country committing societal suicide by bringing in millions of West-hating, uneducated, unemployable invaders from the Third World and economic suicide by destroying what little is left of its industry to supposedly save us from a non-existent climate breakdown. Yet both the main political parties seem hell-bent on following exactly the same civilisationally-suicidal policies.

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