You have run out of our money

This morning the UK gilt auction failed. That means there weren't enough bids to cover the amount the government wants to borrow. Actually the situation in America is worse since we'll get a centre-right government within 2 years, but the malign dunces who run your government will be in power for at least 4, maybe 6, 8, 12 years longer what with Acorn and the growth of the state-dependent electorate. The UK has better democratic accountability for its Chief Executive. Our press are not lapdogs and Gordon Brown has to hear the charges against him face to face in public. Imagine Barack Obama in this video instead of Gordon Brown:


Daniel Hannan is a journalist and blogger as well as a Member of the European Parliament. This is a strange world; the same Daniel Hannan who stripped the PM's flesh off his bones and pecked his eyes out in the clip above, this same avenging carrion crow, won't disown Obama yet for the weakest, drippiest reasons:

So, have I changed my mind? Well, I won't deny that Obama has done plenty of irritating things, ranging from the idiotic stimulus package to the way he dissed the Prime Minister (yes, I know the man's a clot, Mr President, but he's our clot; and, tired as you may have been, I suspect the Royal Marines in their Forward Operating Bases in Helmand, fighting a war that few of your allies will touch, are pretty drowsy too).

On the other hand, the US remains more popular than it has been for years, and Obama's own approval ratings, though fallen, are well above the vote he received in November.

This is a question of psychology rather than politics. It shows the power of the moralistic fallacy, the conceit that what ought to be, is. Many ultra-bright people and many ultra-dim people want Obama to be who they think he should be and it will be a bereavement as well as a defeat to admit that they were too in love with their idea of Obama to see the bleeding obvious.

Update: Daniel Hannan's reaction to the reaction to his speech to Gordon Brown.