MichaelCD - The Blog.

The thoughts of Michael Cadwallader. Coffee loving, history book reading, Cheshire man.

Saturday, July 08, 2006

Adeus - For Now.

I will be taking a brief hiatus from blogging, for approximately the next ten days. The reason being that I'm off to the Algarve for some r&r. It's probably a good time for a break as well, considering that interesting news stories have been few and far between recently. Before I do go, I have a couple of observations which I wish to make, on two subjects close to my heart.

Firstly, on 'Dave' Cameron. Today was the straw that broke the camel's back. I will
not vote for the Conservative Party whilst he is leader. Yes, I can hear the incredulous voices of people reading this, asking: Didn't you realise he was a phony before? Of course I did, but it is not that simple. I personally know and like my local Conservative candidate. And this consideration was always at the back of my mind, when I thought about voting. But seeing that 'Dave' has now been unmasked as an immigration enthusiast, leads me to the conclusion that personal loyalty can only go so far.

Secondly, the economic fog is clearing all the time. Do you know what has happened to oil prices recently? They have hit the roof, again. The reasons are twofold; supply can't keep up with demand, and the Dollar is becoming more and more worthless. The solutions to these problems are for demand to collapse, thanks to a recession, or the Fed to stop printing so much money, in an attempt to service its debt. Neither of these scenarios are likely.

Ben Bernanke's hawkish words on interest rates, have been replaced by dovish ones recently. It's understandable; stuck between a rock and a hard place, which do you choose? The fact is a recession is politically unacceptable, and its effects on a highly leveraged society would be devastating. So, instead, we are left with uncontrollable inflation.

Such a scenario, and its effects, leads us nicely on to my post from Wednesday, and Martin's comment on it. Many families are already racked with debt, they are also faced by escalating bills. The very people who will desperately need wages increases, will be faced with the prospect of 50,000 Bulgarians and hundreds of thousands more illegals in the job market, stagnating wages further. It all adds up to a lot of people getting poorer, the only question is, how many of these will be Labour Party donors?

Finally, being the shameless Italophile that I am,
per domani sera, Forza Italia, Forza Azzurri!!


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