Punctured souffles
The "second Edwardian summer of globalisation":
A slight change in tune from "Brown is the first Chancellor to make Keynes work", but fair enough. Not quite sure if Larry Elliot's predicting a cataclysm on the scale of 1914, or if he's just getting a bit carried away by the French "no" vote.
Here in the UK, the government boasts proudly about its stewardship of the economy, when all the evidence is that activity collapses like a punctured souffle as soon as action is taken to restrain property speculation. Britain's manufacturing sector is a hollowed-out shell, claimant-count unemployment has risen for six months in a row, the Bank of England is at war with itself over whether interest rates should be cut, and the only person who believes there is not a gaping black hole in the public finances is the chancellor of the exchequer, of whom very little has been seen or heard since the election.
A slight change in tune from "Brown is the first Chancellor to make Keynes work", but fair enough. Not quite sure if Larry Elliot's predicting a cataclysm on the scale of 1914, or if he's just getting a bit carried away by the French "no" vote.