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Long term readers might recall how, back in 2005, I started getting all worked up and ants in my pants about the way there was an economic crash heading our way and it might be a good idea to do something about it beforehand. I'd rather reached this conclusion after watching with horror Gordon Brown's actions as chancellor and coming to the conclusion that the man wasn't an economist or a finance expert, and just didn't seem to understand how economies work.
Naturally, I got loudly disagreed with at the time about this because after all, Gordon was an economic genius who had ended boom and bust and - to quote one of the more rib-tickling comments I got at the time - was more financially credible than his predecessor (a man who, for all his faults, tried to pay down debt in the good times).
Anyway, I was rather pleased to note the other day that after a delay of a mere six years, Gordon Brown himself has come round to my way of thinking and now agrees with me. There is an extraordinary disclaimer in the opening pages of Gordon Brown’s Beyond The Crash. He writes: “I am neither a finance expert nor a trained economist", and it's just sobering that he didn't figure that one out ten years or so ago and let someone else - maybe me - have a go at that finance and economics job he held. The other weekend he popped the cherry on top of that particular cake by observing at Bretton Woods that when he was in charge of the economy, he just didn't understand how entangled economies actually are.
Still, with any luck I can shut up about this one now. I can't imagine there are many people wanting to defend the oaf these days.
Naturally, I got loudly disagreed with at the time about this because after all, Gordon was an economic genius who had ended boom and bust and - to quote one of the more rib-tickling comments I got at the time - was more financially credible than his predecessor (a man who, for all his faults, tried to pay down debt in the good times).
Anyway, I was rather pleased to note the other day that after a delay of a mere six years, Gordon Brown himself has come round to my way of thinking and now agrees with me. There is an extraordinary disclaimer in the opening pages of Gordon Brown’s Beyond The Crash. He writes: “I am neither a finance expert nor a trained economist", and it's just sobering that he didn't figure that one out ten years or so ago and let someone else - maybe me - have a go at that finance and economics job he held. The other weekend he popped the cherry on top of that particular cake by observing at Bretton Woods that when he was in charge of the economy, he just didn't understand how entangled economies actually are.
Still, with any luck I can shut up about this one now. I can't imagine there are many people wanting to defend the oaf these days.
