A Scorched Earth policy

Again I have to say that the only way to prevent something absolutely terrible happening in the next year or two is to raise interest rates, to raise taxes, and to let asset values fall.

Not very pleasant for a year or two but to do otherwise will make the situation even worse. Just let it go, short term pain, long term gain. By protecting the world from the implications of what has been happening since, believe me, the 1987 crash is to live in an alternative universe. Stay in the real world. Let the crash happen and then rebuild from a lower base.

Gordon Brown will go for a spring election of that there can be no doubt, he will cut and run, leaving his scorched earth, where strangely enough what did the Aborigines do they used fire to rebuild, it cleans out the dross and scrub, and gets rid of the weeds, and soon enough the land recovers. A scorched earth policy is actually a good thing, if you are an Aborigine.