Vince Cable never has learned to be polite to idiots
Vince Cable has launched an extraordinary attack on “rightwing nutters” in America who are trying to block the raising of the US government’s debt ceiling and who are, he said, a bigger threat to the world economy than problems in the eurozone…
He said: “The irony of the situation at the moment, with markets opening tomorrow morning, is that the biggest threat to the world financial system comes from a few rightwing nutters in the American Congress rather than the eurozone.”
Negotiations on raising the US government’s debt limit above its current level of $14.3 trillion collapsed in acrimony late on Friday over details of a package of spending cuts and tax rises that would help to pay for such a move…
A visibly angry Barack Obama attacked the Republican speaker of the house, John Boehner, for refusing to return his phone calls and said he had been “left at the altar” in trying to reach an agreement. Most experts agree that if the US were to default on its debt payments, stock and bond markets worldwide would plunge, threatening a new great recession. The deadline for agreement is just over a week away, on 2 August.
On the crisis in the eurozone, Cable said the coalition government wanted to see the euro succeed, even though Britain was not a part of it.
With GDP figures this week expected to suggest that growth has stalled, the senior Liberal Democrat conceded that the state of the economy was “not great”.
“It is not surprising that it isn’t great because of the problems we inherited,” he said, while dismissing the idea of easing the coalition’s austerity measures. The UK was in a “German rather than Greek” position because there was confidence in the country’s finances, he said…
The same fools who think the United States operates in a vacuum are twins to those who think nothing should change in how the American economy functions, e.g., they want dependence on consumer spending, ballooning housing prices, reliance on credit spending to continue to rule the way our nation lives.
That many people have begun to increase savings is a sin. That many of us realize that actually being able to qualify to buy a house benefits the economy and the home-building trade. That many have learned to pay down their credit cards balances to zero ASAP is not only good for your credit rating – it leaves you in control of your finances. That bigger isn’t better by any sensible definition – whether you’re buying a car or a home. And that home is something you and your family intend to live in for the foreseeable future – not something to be flipped as a business investment.
Just us folks, that’s all. No Wall Street analysts or Congressional/White House campaign organizers. Not anymore.