Douglas Carswell's Blog

Government caused the credit crunch - and has failed to solve it

The ever insightful Allister Heath has an excellent article about the causes of the banking crisis.

Interest rates kept too low for too long.  Profligate public spending. Regulatory stupidity..... It seems primary responsibility rests with government, government and government.

Far from being to blame, it was markets that called time on the folly of central bankers and monetary officials.

I fear that Western government’s response to a crisis of their own making – bailout busted banks, stimulate yet more overconsumption and debauch the currency – are about to make a bad situation worse.

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