The beginning of the end of Thatcherism.

I am deeply amused by the theory that the imminent nationalization of Northern Rock is some desperate, last-ditch measure which Gordon and Alistair have been forced into by events. The exact opposite is true. Consider one incontrovertible fact: Gordon Brown is the master political strategist of his generation with the spirit of True Labour running through his veins. With this in mind it becomes clear what a masterstroke the whole Northern Rock ‘debacle’ really is. Nationalize Northern Rock; show the country that the state can do a far better job of running such an institution than private businessmen; then – with the public on side and the intellectual argument won – the process can commence of bringing the entirety of British industry into public ownership. First the banking and financial services can become state owned; then the family silver given away by Thatcher – BT, British Gas, British Airways etc. – will return to their rightful home. Finally the government can acquire and manage all private and foreign-owned companies. The delicious consequence of this is that it would totally demoralize the Tories. Everything they fought for in the 1980s would unravel before their eyes and they probably wouldn’t have the motivation to hold office ever again. Gordon Brown really does never cease to amaze!