Thursday, Mar 05, 2009
The Last Word - It's Up from Now On
SKY: Bank Governor: New Money Will Beat Recession
"Bank Of England Governor Mervyn King has said interest rates will fall no further - and promised that £75bn of newly "printed" money would trigger recovery". Hurrah, the cavalry at last!
Posted by alan @ 11:51 PM (480 views) Add Comment
4 Comments
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1. Gg123 said...
This makes me really nervous. Isn't this how inflation starts? Will Stagflation be next? And with rock bottom interest rates, that will be fun.
I can't help feeling that all these artificial stimulus packages are not only delaying the inevitable, but will ensure that it goes deeper and for longer.
It's time to suck it up - ride out the cycle, and save these packages for the appropriate time - which is on the way up.
2. Norfolk&clue said...
If it fails will you be stripped of your knighthood and pension for your incompetence in aiding and abetting others into getting us into this f**king mess?
No? Thought not.
3. paul said...
So interest rates won't fall any further?
Well I', sure that'll be a relief for all of those careful people Mervyn claims to sympathize with who have been prudent and are now being punished.
The other reason interest rates won't go down any further is because the CPI index rose this time, which was why they didn't talk about it.
4. crunchy said...
Inflation will only happen if this money is unleashed.
A token gesture will not do it.
It will be hoarded for now.
We are not at the bottom yet.