Will Mark Carney have the balls to stop Balls bankrupting Britain?

Our incompetent, part-time work experience chancellor gave us all a pleasant surprise when he appointed Canadian Mark Carney as the new governor of the BoE and bypassed the (IMHO) sycophantic, lying, self-serving, greedy, complacent, ignorant, overpaid, overpensioned�BoE buffoons Paul Tucker and Charles Bean.

Carney starts his new job in mid-2013, less than 2 years before the 2015 election propels Miliband and Balls into Downing Street. No doubt, Carney will find it easy to work with the Coalition. The fun starts when Balls takes over in May 2015. As most of us know, Balls like his former boss Gordon Liar Brown is a “half Keynsian”.�To hugely simplify, Keynes proposed that when the economy was in the growth phase of the economic cycle, governments should pay down debt and when the economy was contracting governments should spend to mitigate the effects of the downturn. Brown and Balls seem to have remembered the second part of the Keynsian philosophy – spend in a downturn, but not the first part – pay down debt during growth. So Liar Brown and deficit denier Balls spent spent spent during a period of growth increasing our national debt from �320bn to �500bn (plus �320bn of overpriced, underperforming PFI deals)�by 2007. Then they spent spent spent during the downturn of 2007-2010 taking our debt to over �700bn. Thanks to Osborne’s feeble efforts, by 2015 we will owe around �1.5trn – more than twice what we owed when Osborne moved into Number 11.

But what happens when Balls moves into Number 11 in 2015? Balls only has one idea in his stupid fat head – borrow, spend, waste.� But by then we will be to all intents and purposes bankrupt with higher levels of debt than Spain, Portugal, Ireland�or Italy. So what will Carney do? Canada avoided the econmic crisis by massively cutting public spending before the downturn. Balls will be trying to massively increase public spending by borrowing and wasting more. It looks like we are in for interesting times.

I suspect Carney won’t survive more than a year under Balls and will be replaced by a Balls stooge (perhaps someone like Tucker or Bean) who will help Balls finally bankrupt Britain.

(btw, I’m moving all my savings into foreign currencies before 2015, so that I don’t get ruined when sterling collapses under Balls’s Brownian economic mismanagement)