Gordon will tell you that he is right. It doesn't matter what he's talking about, he's just always right. However, in this instance I am talking about his policy to print the Pound into oblivion. He'll tell you it is a desirable outcome, because it makes our exports cheaper and will mean we can export our way out of economic treacle. Sadly, statistics now confirm what I have been saying all along; we do not make anything to export.
No, printing up new Pounds (Quantitative Easing in modern parlance) just reduces the value of the pound and for no benefit. The only impact of doing this is that he can continue to spend money that he doesn't have and give it to people who do not deserve it, but who will support his efforts to stay in power. Investors will continue to shun the Pound until our government stops printing money to buy its own bonds, and that can only happen when they stop trying to issue an avalanche of debt to keep paying for the unaffordable public sector and welfare system that is so clearly represented by the current massive budget deficits. That is the long and the short of it.
To graphically illustrate for you now exactly how bad this printing and economic mismanagement is for you as a holder of Pound-denominated assets (cash, bonds, shares, houses, whatever -- it's all the same), here is a side-by-side comparison of the price of gold in USDollars and Great British Pounds. You could pick any globally-priced commodity you like, gold just happens to be the best money god ever created so I choose it today for that reason. This chart is the last 3 months, at the left of both you will see the All-Time High price of gold in both of these currencies, illustrating to you that all is not good with all global fiat currencies. But they are especially bad with the Pound as you can see clearly here.
A vote for Gordon Brown's Labour party is a vote for the accellerating deterioration in the value of everything you own, and the money you earn. If you continue to vote for this, you have only yourself to blame for what will inevitably come.