Monday, Jul 21, 2008
UK's Economic 'Horror Film Plot'
Sky News: Yes... that should do it. Problem solved.
The report said: "As with any horror movie, there is an escape route but it is not an easy one.
"It is imperative that wage increases remain restrained, despite the tremendous pressure from food and energy cost inflation."
Posted by gardeniadotnet @ 11:26 AM (764 views) Add Comment
7 Comments
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1. gardeniadotnet said...
Oops. Got article title and source headline the wrong way round.
Time for a break methinks.
2. paul said...
Blanchflower is looking for the UK to do exactly the same as the US.
Inflate the money supply exponentially to avoid the spectre of deflation. However by doing so, the deflation is avoided at the expense of runaway inflation.
In other words, inflation by the back door supported by the argument "better the devil you know".
Don't believe a word of it - deflation following massive credit expansion is unavoidable, and trying to avoid it will only make the pain much more exaggerated later.
3. pelethar said...
What's with all the relevant, interesting news blog items gardenia? Are you going mainstream on us?
4. gardeniadotnet said...
>Are you going mainstream on us?
Ahem. I'm not aware that I've changed my position.
5. malct said...
Sky's headline - "UK's Economic 'Horror Film Plot' " - Ernst & Young's ITEM Club " The report said: "As with any horror movie, " - bit extreme old chap! Off topic even, "plot" horror movie" ? whatever next.
The forecast comes after David Blanchflower, who sits on the Monetary Policy Committee, warned recent job losses could be "the tip of the iceberg" and UK house prices could fall by 30%.
In an interview in The Guardian newspaper, he said: "I think we are going into recession and we are probably in one right now."
"probably"? probably? sits on the MPC and he doesn't know?
6. japanese uncle said...
Then let the Hammer Production run the affairs, starring David Karloff, replacing Crash Gordon
7. plato said...
Something to cheer :
British regulator Ofcom has rejected complaints that the popular polemical film, The Great Global Warming Swindle, misled viewers.
The regulator said it was paramount that the public received alternative points of view - even if these were not endorsed by institutions or the major political parties.
http://www.theregister.co.uk/2008/07/21/ofcom_global_warming_swindle_adjudication/