PALOOKAVILLE FINANCIAL stardate : capitulation day+59
...ok...this'n be a update on that un
...beatin up on george...part two...
...Superb at ice-hockey, a prince at the dance...
...He's fierce as tigers, secretive as plants.
...my dad allas called im that...mandelson...that is...can't think why...
...anyway here he be...a joinin in a bellyachin about po ol george...fo tellin a truth...
mandy : "What George Osborne was trying to do in his remarks was undermine the confidence of markets and undermine the confidence of traders that the medium-term direction of government policy is sound.
"That's why what he was doing, frankly, was reckless and irresponsible."
He insisted that the Government's stimulus package, which is to be unveiled in next week's Pre-Budget Report, was necessary to revitalise the economy and restore confidence among consumers and lenders.
He added that this was "internationally recognised", in the wake of the weekend's G20 meeting in Washington.
He also accused Mr Osborne and David Cameron, the Conservative leader, of contradicting themselves on the economy. "Their policies change from week to week," Lord Mandelson said.
ossie : On Sunday, Mr Osborne launched a robust defence of his response to the global economic crisis, insisting that he was "absolutely sure" that he was "doing the right thing".
The shadow chancellor said that he had a duty to tell the public "the truth" about Britain's economic problems and denied accusations that he had risked worsening the problem by warning of a run on sterling.
He refused to back a programme of tax cuts being drawn up by Gordon Brown which is expected to be unveiled in next week's Pre-Budget Report.
Mr Osborne has faced criticism from sections of the Conservative Party over his handling of the economic crisis amid claims he failed to foresee the seriousness of the problem. Some right-wing peers and MPs have called for him to be replaced.
The party's opinion poll ratings have fallen sharply and David Cameron has refused to call for big tax cuts - instead focusing on the need to keep Government borrowing under control.
Speaking on BBC's Andrew Marr show, Mr Osborne said that the approach had been correct and that the party had no plans to alter its stance. "My job as shadow chancellor is to tell the British people the truth about the British economy," he said. "The truth is that it is the worst prepared economy in the world for recession.
times : ..."Alistair Darling, the Chancellor, also told Sky News: "All I would say is this, that a few weeks ago the Tories offered a bipartisan approach, now that has clearly gone to the wind."
Mr Osborne’s position is also considered to have been weakened by a lack of vocal support from David Cameron. The Shadow Chancellor was also forced to dismiss suggestions that his authority had been undermined because Mr Cameron had called in Oliver Letwin, his predecessor, to draw up potential government spending cuts.
Meanwhile, a significant party donor, the retail millionaire Lord Kalms, called for Mr Osborne to be replaced with a "heavyweight" figure.
But the Shadow Business Secretary, Alan Duncan, rallied around his frontbench colleague, saying he was "absolutely right" to raise the danger of a run on sterling. "I’d rather have George Osborne telling the truth than Gordon Brown charging around the world on a journey of deceit," he said.
torybulliestoo : VIDEO HERE