Had a swift pint in the Nag’s Head, and the TV reported Ed Ball’s speech, in which he promised no more borrowing. Just have to wonder where the Bloomberg man has gone. Though Cowards Flinch reported it here, however, Jon Lansman, I think is more accurate in this article. When writing my thoughts about the NPF I withheld much of what I thought the impact on the Party would be but this speech is the natural corollary of the victory of Labour’s “Right Keynesians”. I think we all know if the National Policy Forum, the Conference or the Party were to vote, this isn’t what we would decide. The leadership, or parts of it are still triangulating, and don’t realise that the deficit does not matter as much as jobs and wages, which are more important. People need hope, and we can’t undo the damage the Tories are doing without growth. My fear is it’s too late to change the politics of the election. …
Booze & Borrowing
