Thursday, Dec 18, 2008
Divine intervention
The Times: Archbishop of Canterbury welcomes credit crunch 'reality check'
"The archbishop told BBC Radio 4's Today programme that the country had been “going in the wrong direction” for decades by relying on financial speculation to generate wealth quickly rather than “making things”.".............I think we could see the churches filling back up with this kind of sense coming from the church..............
"Dr Williams admitted that he was likely to face criticism for giving economists “advice” on how to tackle the crisis."..........I would listen to an owl on acid before most economists...
"In an outspoken interview with the BBC, Dr Rowan Williams said that the credit crunch was a welcome “reality check” for a society that had become driven by unsustainable greed. "....does this guy blog on here?.......
Posted by titaniccaptain @ 03:22 PM (574 views) Add Comment
8 Comments
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1. paul said...
We've done this one captain.
2. titaniccaptain said...
@paul oops....ah well its so good deserves another round of aplause
3. japanese uncle said...
I should like to repost the following:
------------------------------------------------------
So just to boost the economy for the moment, let's cut off IR to encourage further borrowing to top up 1.4 trillion debt, to what level? 2.0 or even 3.0 trillion. Then are you happy, the so called learned/informed economists and critics? When shall be the end?
The answer is, if one is not prepared to suffer cold turkey, one cannot get rid of opium addiction for ever. The right thing the BoE is supposed to do is stay the IR or even increase it, to kill off junky debt culture, once and for all. The withdrawal condition will be something very severe, indeed. But this is a necessary painful process this economy must undergo to become a 'reformed decent economy'
In any event GBP will plummet (yes, regardless whether IR is reduced or not, as money invested to the vehicles of any sort in the UK will be ruthlessly withdrawn as is inevitably the case with the collapse of financial bubbles), which will hopefully help to restore the decent industrial/industrious spirit in this country, the home of the original Industrial Revolution. People will be awoke from the long bad dream of speculation-orientated lifestyle and start working as a decent citizen, yes to make fridge and TV and things. Besides the plummeting pounds will certainly enhance the attractiveness of UK, as target of direct investment (and as tourists destination), say from Japan, as it was in the late 80s and early 90s.
Though it may well be a wishful thinking, admittedly.
4. sold out said...
i very rarely agree with the "god squad" but on this occasion the arcbishop is spot on.
Well done sir.Happy Christmas (or Seasons greetings for those easily offended by other faiths)
5. Markus said...
Spot on, this Archbishop. We need people of his kind in Westminster.
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