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All very well but it's a bit late to be joining the fun isn't it?

Politically he is a minnow and the lack of a heavyweight economist could lose the election for the tories. But since they not offering any significant reform, who gives a toss?

It already has collapsed, George. Look at the £-$ exchange rate and how quickly sterling has already fallen. Now, the real task is going to be that of banging it home how this will affect the ordinary voter in practice. The drop in their spending power abroad and the increased cost of their foreign holidays will be a good starting point.

He's perfectly right to point out the consequences if the government persists with irresponsiby borrowing and even printing money.

I'd rather it was convention that fiscal discipline was maintained.

I don't see anything wrong with that, after all politicians speak on interest rates and that can dictate currency movement. I should think this is a convention from way back when currency rates were fixed, and Government economic policy was dictated by the rate of exchange.

Making predictions like this is alarmist and no-one believes Osborne has the expertise to make judgements about currency movements anyway (he is not George Soros).

Secondly, we seem to be pursuing a policy of chasing headlines to restore Osborne's battered credibility rather than pursuing an alternative economic strategy.

Osborne is also losing his populist edge with middle england. Where is the pre-emptive call for a cut in basic rate income tax or VAT to help families through the downturn? He could fund it by reallocating the £3bn pledged to reduce inheritance tax which, with falling asset prices, is no longer such an issue.

It seems from the article that we are setting ourselves up to oppose a fiscal stimulus in the Pre-Budget Report (i.e. up to £15bn tax cuts) because it offends our hitherto unarticulated principles on public borrowing.

The PBR is in ten days. We need to do better than this, particularly when the G20 conference this weekend is likely to produce a blueprint for global tax cuts to stimulate the world economy.

Yes he was right.Sterling's fall has been most surprisingly ignored by most commentators until yesterday. I can't understand why because it has severe implications for our economy. Clearly the money markets believe the crisis will be worse in Britain than the US or the Eurozone and with Brown & Darling ready to borrow ludicrous amounts of money who can blame them?
However George's attacks would have far more potency if he was suggesting alternatives and it is this rather than his failure to attack hard enough that has done him damage.
Labour's reaction that his comments are 'irresponsible' given sterling's 30% fall against the dollar are beyond parody.

It's extremely hard to find anyone in the City now who takes him seriously. People on here may not agree with my view that he has always been materially out of his depth on economic matters, but the Yachtgate scandal rather sealed it. It's a shame as he is clearly highly intelligent. I suppose it's the lack of a real world job that's the issue.

Anyway, on to today's remarks: not smart, not smart at all. Currency markets like such pronouncements like a hole in the head.

When will the Conservative Party realise that - at the moment and for the forseeable future - people want reassurance and stability? The time for blaming people and post mortem analysis comes later.

It seems to me that professional commentators such as Mr Isaby want Cameron and Osborne to do the opposite of WHATEVER it is they do.

If they attack, they shouldn't.

If they don't attack, they should.

Most of us recognise that the Government should slash spending - if Osborne or Cameron say that, they know that millions of votes will be lost from those who will be affected. If they don't say it, those who would like to see sweeping cutback measures may not vote.

The phrase 'rock and a hard place' come to mind.

And having just read Mark Hudson's comment about people wanting reassurance and stability - yeah, let's all bury our heads once more in a pink fluffy cloud and pretend mom's around, cooking us apple pie.

We've been lied to for years, it's time 'people' woke up to reality, things are grim, and they are going to get grimmer.

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