Cameron: he\’s not going to be any better, is he?

It is astonishing to think that, 12 months after the bank rescue, lending to businesses is still falling.

What?

We\’re in a recession fool!

That means that there are fewer decent investments to be made, that there are fewer people looking for loans to expand operations and thus that lending to business will fall.

Jeebus, and this is supposed to be the promised Messiah?

10 comments on “Cameron: he\’s not going to be any better, is he?

  1. We’re in this mess because banks lend too much money at too low an interest rate (i.e. they didn’t price risk properly). Now Cameron not only wants the banks to lend more but he wants the taxpayer to guarantee the loans

    we have been calling for a national loan guarantee scheme. This would underwrite lending from banks to businesses

    thus ensuring more mis-pricing of risk.

  2. Pingback: Crispinus et Crispianus | nourishing obscurity

  3. Not all borrowing is to fund expansion. Not all borrowing was too cheap. Don’t forget, Brown’s whole response to the recession was to borrow huge sums. Much of that was to preserve services and to pay people to avoid lay-offs.

    Maybe business needs to do the same?

  4. Thank god for that No Conservative should ever want to be a messiah . For David Cameron this phrase is not about the economy its about attacking Labour Policy .

    I must say Tim you make a point here that I have been inwardly screaming every time I hear the words bank lending ….why would anyone led to the credit swollen non viable business models we have created . They have to go and the problem with counter cyclical demand management is that it is only a delay on supply side reform in the market.

    Aka , there is still a lot of over priced shite out there and it needs to die

  5. Come on Tim, he can’t be any worse. I know he has made a number of economically dodgy statements, but I am willing to bet that he will be a better Prime Minister than the incumbent from a free market point of view.

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