You have to hand it to this government in the UK. Having watched at how the US has demonstrated the foolishness of distorting the housing market in sub-prime mortgages, and hence encouraging a huge “moral hazard” problem, the UK is, according to a report, going to back hundreds of thousands of home loans in measures to be announced in the 21 March budget.
One grows weary. The shoulders sag. It becomes more difficult to think of a smart-arse piece of satire when confronted with the latest cretinous idea to come out of David Cameron’s limited mind, or from the minds of his colleagues.
Over dinner a few weeks ago, Brian Micklethwait and I agreed that Cameron is not, in fact, all that bright, apart, perhaps, from having a sort of superficial, feral cunning.