Monday, Aug 25, 2008
Bank of England deputy turns Bear now the Summer Holidays are over
Times: Bank Deputy Charles Bean warns on impact of slowdown
OMG, The Holidays are now over and Charles Bean warns that Britain is facing a bout of social trauma as millions of overstretched families are hit by the financial fallout from another year of economic pain. Charley then highlights the danger of stress and social upheavals facing many families as the still deepening economic downturn worsens financial strains. "It's going to be a tricky period. Household real income is very low. That will make it difficult for households and there are difficult social issues that will arise". Now whose fault is that then!
Posted by enuii @ 05:40 PM (664 views) Add Comment
5 Comments
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1. iguana said...
Question:
Was the script for Mr Beans address to the Hole written in advance by Eddie George in 2004?
2. Bananasplit said...
The poor get poorer and the rich are rediculously overpaid, we tax the poor so that they live hand to mouth and then tax the rich so that they don't notice any difference. The rich companies make products called value lines, basic items to help the poor survive, the rich live extravagant lives while the poor struggle, the poor being cleaners, carers, bus drivers and road sweepers and nurses etc, deliberately held down by the wealthy policitians and their rich supporters.
3. Fatjock said...
I love the way this goon and his Penfold lookalike boss are now saying we're in financial trouble. Why are they now suddenly telling the truth? There's a sh*tstorm coming and a few of us have been laughed at by their families and friends for ages for saying so . Until recently that is...
4. amjidk said...
agree with everything said above, comments 1, 2 & 3, did the politicians and bankers in all honesty didn't see the storm coming? i find that hard to believe..
5. wiltshire said...
Many people on this site have been predicting for years exactly how the current situation would develop and are being proved correct on a daily basis. I know many are not 'professional experts' within the fields of finance etc. If we could see this coming you can GUARANTEE the government knew full well what COULD happen and they obviously chose not to be concerned about what COULD.
In relation to "difficult social issues". Considering how quick the Labour Party are to ramp up the infringing of civil liberties and surveillance etc I would think we should prepare ourselves for more of the same. As Naomi Klein discusses in "The Shock Doctrine" - "Part 7 is about the winners and losers of economic shock therapy, how narrow groups will often do very well by moving into luxurious gated communities while large sections of the population are left with decaying public infrastructure, declining incomes and increased unemployment."