Something that just occurred to me about the ongoing expenses scandal. I've not had much time to think it through so it may just be complete bollocks, but...
For the last 12 years, Labour have pursued obviously stupid economic policies. I think our PM liked to call it some variation on the words 'post neo-classical endogenous growth theory'
The repeated mantra appeared to involve an idea that the economy had moved away from 'boom and bust' and that it could be kept at a 'goldilocks' rate of growth. Now, anyone who is familiar with the way capitalism works would probably tell you that this is bullshit. Brown probably new it was bullshit, unless he really is that stupid.
But here's the thing: what if they didn't know? What if people who thought their personal money trees flowered all year round didn't understand that debt can't be magicked into being forever? What if they thought monetarism could actually deliver stability?
Can they really be that thick? I'd always assumed that they were a bunch of mendacious, warmongering, right-wing arseholes - it never occurred to me that they might just be a bit dim.