Conservative economist calls for UK to get IMF bailout

Of course, he wants the blame everything on the Labour Party. But still, conservatives aren’t generally is favor of massive bailouts. The situation is getting dire.

“When the rating agencies say they’re looking at your AAA rating, the markets are warning you that now is the time to have a credible plan to reduce the deficit,” Stelzer said, speaking at an event hosted by Politeia, a London-based research group. “The markets are saying: ‘This is it, fellas.'”

A friend of ours in Britain writes that the credit crunch is biting hard there, with his friends getting pay cuts, if still employed at all, with many trapped in homes with underwater mortgages.

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