British slump will be worst in developed world, says IMF: Gordon Brown last seen comfort eating an crying like a pussy.

(pic from The Screech)...First up we have this: There's trouble at mill.

Britain will be hit harder than any other advanced nation in the worst recession for more than 60 years, world economists warned last night.

In the bleakest assessment yet of British prospects, the International Monetary Fund (IMF) forecast that the economy would shrink by 2.8 per cent this year, twice as much as it previously thought and far more than the 2 per cent average drop for developed nations in 2009.

The stark figures are a severe blow to fat Gordon Brown, who has continually insisted that Britain is better placed than most countries to weather the downturn. The IMF outlook suggests that the recession in Britain will be deeper than that in the United States, Italy, France and elsewhere.

Alistair Darling, the Chancellor, predicted in November that growth in Britain would rebound to at least 1.5 per cent in 2010, the likely election year, but the IMF points to a far more meagre recovery of only 0.2 per cent.

Oh lets not forget some of fat Gordons lies I covered before.

From 1996 the tax threshold rose from £261 billion to £348 billion in 2002.

A rise of 87 billion quid in taxes.

Now whilst this was going on we had a credit boom based on private loans, which was based on the false promise of ever rising house markets. These loans totalled £1 trillion quid.

The reality was that the leading shares in the stock exchange in London had fallen by 10 per cent in real terms since 1997.

Compare that to the German Dax up 18.3 and New York's Dow up 48.2 per cent.

One of the reasons for the stagnation according to the World Economic Forum, was the increased taxation and regulations introduced by New Labour since 1997.

Brown's forecasts were off as well, in 2001 he forecast borrowing £30 billions over 5 years.
He ended borrowing over £140 billions.

Brown boasted of 28.35 million people employed, he did mention that 37 per cent were employed in the public sector, in effect drawing their wages off of taxation.

A meeting on 4th March 2004 of the cabinet chaired by PM Tony Blair to discuss public service reform.

Stats from the ONS showed that productivity in the public sector had fallen by 10% since 1997. In health & education the fall was between 15 and 20%. An annual cost the ONS reported of some £20 billion pounds.

So lets see our lardy PM encouraged an explosion of personal debt since 1997, all secured through cheap credit which was secured against rising house prices. He encouraged this, boasted about our strong economy whilst sliding billions(over £120 billion) onto PFI/PPP projects all buried away off the main balance sheets.

That in of itself would not be so bad, but he wasted billions on non jobs all paid through tax receipts. They in turn took out debts. All these debts were packaged up and sold on, a debt selling merry go around. Thus leading for more demand for credit and relaxation of the rules enabling ever more people to rack up bills.

Everyone up the chain taking their cut, all the while no investment in real jobs building things for export. 

A decline in leading shares by 10 pc in real terms since 1997 in the London stock exchange. 

Now this fat shit claims its all down to world exonomic factors.

A fat liar who claimed he predicted all this 10 years ago, well he has produced no proof of that what so ever. This is a plain lie and nothing else but.

If that were the case he would have resolved the problems already. 

Lastly and this says a lot about our porkie overweight PM, Gordon has ignored the last six IMF warnings. He will waddle his fat arse to the Commons, quiver his jowels and wobble his double chins as he lies again about how we are doing fine.

Gordon's problem is he thinks that the way to resolve the rapidly deepening economic crisis is via 'stimulus packages' with magic money plucked off the magic printing press.

With the ultimate of getting the banks to lend again and rebuild the very credit bubble and circumstances that landed us in the shit in the first place.

Like holding an alcoholics meeting in the local pub, you get full attendance but they all end up dead.

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