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"Stock prices have reached what looks like a permanently high plateau."
So said Mr Fisher just before the 1929 crash.I did maths for a year at university. I don't think I was very good at it. And some people would say it shows.Oh yes, remember our gold sold off on the cheap....
Gordon Brown PM.
April 2007. -
Tonight(29/08/2008) the Pound is tumbling as Asian markets open tonight. The pound is now at the weakest it has ever been against the Euro, tumbling against the Swiss Franc as well.
From the Scotsman
...In an interview with the Reuters news agency, Blanchflower said: "To sit and worry about inflation expectations and what is going to happen to those, rather than worry about the fact that the economy is going to go into a recession seems to be misguided."
He added: "The way to get out of it is to act. Sitting by doing nothing is not going to get us out of this, and hoping that a knight in shining armour will come and lift us out of this is optimistic in the extreme."
Blanchflower warned that two million people could be unemployed by the end of the year, an increase of more than 300,000 on the current 1.67 million figure....
Some more on how shit James Gordon Brown is...
**Expect some urgent dithering from Brown & co.Gordon Brown a man who makes me so angry I could punch his light
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2 people have spoken:
Blanchflower has it so right IMHO. I can't believe that the Bank of England people can't see what is happening to the economy in the big picture of the whole UK! It is bewildering why they've not cut interest rates more aggressively up until this point, but I suppose when you have one mission in life (control of inflation) then you really don't have to care too much about anything else!!!!
Top tip for them: get out of London sometime and meet real people who're hurting now.
At least Alastair Darling has had the balls to come out and tell it like it is over the last few days. He probably couldn't in all good conscience keep up the lies and half truths, while wishing to the magic economy pixies that everything would turn around without anything having to happen.
John methinks Gordon will keep on spouting the same old "gettin on with the job bs"
Eventually when he is removed, leaves and/or otherwise fucks off I am sure that his laterst book "Courage IV" will drone on about how he had his eye on the ball whilst the entire world was wrong.
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