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John Mcdonall. The biggest threat to the UK

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9/14/2015 11:36:38 PM
Posted: 2 years ago
Newly appointed labour party leader Jeremy Corbyn announced his new shadow cabinet today. Unsurprisingly it was full of left wingers and socialists, with the absence of many new labour movement politicians who were either overlooked or turned down roles in the shadow cabinet due to inconsolable differences with Corbyn and his socialist policies. Perhaps more surprising to me personally was the lack of any women or people from ethnic minorities in any of the key positions. Corbyn showed his true colours as an old fashioned socialist by appointing long term ally and campaign director John Mcdonall to the position of shadow chancellor. Mcdonall is the only Labour mp that I would say is to the left of Jeremy Corbyn on the political spectrum. If this double act get their hands on the British economy then a huge nationalisation of business, banking and services is expected along with massive minimum wage and tax increases that will ruin british businesses and scare Britain's biggest taxpayers out of the country can be expected. A huge government spending spree will begin with monopoly style recklessness. Unfortunately as the UK has a 1. 6 trillion pound national debt this will come from both printing and borrowing more money leading to runaway inflation and a financial crisis and a recession that in all likelihood will lead to the country's bankruptcy. In the meantime Britain's poorest people will endure a miserable existence as living costs soar, unemployment spirals out of control and savings are wiped out through either bankruptcy or run away inflation. Corbyn and Mcdonall think spending your way out of debt is a good idea. This is both illogical and reckless.