A rounding error rather than an end to recession…

UPDATE : Reflect that we have had £200 billion of quantitative easing and all we get is this – most of that went on giving foreign gilt investors an exit rather than bank loans to enterprises.  Subtract the mirage of the Keynesian car scrappage scheme from the figures and we are really still in recession.

Foreign Secretary David Miliband on a visit to Serbia said…

“I come to Serbia as a proud friend of Kosovo, sorry, of Serbia…”

Now Gordon has taken to lecturing football clubs about  the importance of financial prudence and in particular not running up debts, it seems timely to reflect on what John Reid has to say about these matters.  The former hard man of the cabinet may not be a fan of Gordon, but he knows a bit about football club management since he is now the chairman of Celtic F.C., he says

“If you start getting into a position where you are running up debts that you cannot afford, spending money you don’t have, it is the road not to success but to ruin.”

He also said “If you want a boring crowd of Holy Willies, go to the other side of the city.” The “Holy Willies” is a term taken from a Robert Burns poem about Presbyterian hypocrisy and self-righteousness.  The  “other side of the city” means Rangers, who are based in Ibrox, which was part of the old Burgh of Govan… where one James Gordon Brown was born.  Reid has vowed to speak no ill of the PM, so these allegories are entirely coincidental…

Lord Pearson sportingly told Emily Nomates…

“Fair play to you.”

Paul Waugh tweeted from the PM’s press conference this morning

“I can’t type for laughing. Gordon is attacking football clubs for jacking up debts beyond their income.”

So Guido thought a bit of evidence based blogging in order:

Manchester United, the red team led by Alex Ferguson, a Labour supporting Scot, is having a difficult time yet managed to sell off an asset (Ronaldo) and show a profit of £78 million on revenue of £278 million.

This disunited government, a red team managed by Gordon Brown, a Labour Party leading Scot, failed to cut expenditure and as a result has a deficit of some £180 billion on tax revenues of £465 billion.

It just isn’t funny.  Gordon is in no position to lecture the football clubs on financial management.