OMG

THURSDAY, JUNE 18, 2009  http://burningourmoney.blogspot.com/

OMG

Soaring into the stratosphere

OMG 1

Today's public borrowing stats are way beyond dire: they are OMG terminal.

In the first two months of this financial year the government borrowed £30.5bn, comfortably over twice what they borrowed in the same two months last year.

At this rate we will certainly blow Darling's budget forecast of £175bn borrowing over the entire year. Even a straight pro rating suggests we'll hit £190bn, but with unemployment surging, that's an underestimate. Get ready for £200bn+.

In other words, Brown/Darling will smash the pre-NuLab record for a single year's government borrowing by a factor of 4 (previous record was £51bn in 1993-94). That is incompetence of an exceptionally high order.

Yes, yes, of course - you and I know we should adjust that for inflation. But not only does our beloved leader himself ignore inflation adjustments when it suits him, even if we did adjust the figures, this would still be well over twice the previous record.

And as we've said many times, either through taxes or inflation, you and I are the ones who will have to pay it off. For years and years... long after Catastrophe Brown has faded into just an unpleasant memory.


OMG 2

According to the Met Office, Hull is the new City by the Bay.

For an undisclosed fee - paid by those generous folk at "the Department for Environment, Food and Rural Affairs, Department of Energy and Climate Change with the Scottish Government, Welsh Assembly Government and Northern Ireland Department of the Environment" - the Met Office has calculated Hull's climate in 2050.

We now know for A FACT that by 2050, Hull will be sizzling in Med-style sunshine, and its depressing North Sea drizzle will be a thing of the past.

As regular readers may recall, we've blogged the unappreciated potential of Hull before. This is the final proof. Thanks to the twin blessings of global warming and the property crash, you now have the chance to make your fortune!

Right now, you can pick up brand new top spec riverside apartments for a tad over £100 grand apiece. And just think what they'll be worth once the city looks like this:

You know it makes sense - I'll bet those boys from the Met Office have dived in already.