Thursday, Aug 13, 2009
Goldman's Economist Speaks Out
London Evening Standard: 'Britain's worst recession in living memory is over'
"Britain's worst recession in living memory is over, one of the City's leading forecasters proclaimed today. Jim O'Neill, chief economist at Goldman Sachs, said the country had pulled out of the financial crisis and the economy was already growing again" (Does anyone believe it?).
Posted by alan @ 06:30 PM (2008 views) Add Comment
17 Comments
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1. neo-serf said...
Jim O'Neill - chief economist at Goldman Sachs - has shorted the recession in the vain hope of making a quick buck if everyone buys this utter drivel. Company practice and policy.
In other news Jim O'Neill has gone long on depression because he knows in his heart that the above is a piece of massive propaganda and his employer is partially to blame.
Jim you're a great guy.
2. timmy t said...
Could also be written as... An additional 500,000 people cannot afford to buy or rent so are choosing to lodge until prices return to a sensible level.
3. timmy t said...
I'm not going mad - for some reason my computer insists on re-posting something I posted about 4 days ago...
4. iguana said...
Clearly Jim did not listen to Penfold,
5. icarus said...
If it were over already would it be the worst recession in living memory? They let the cat out of the bag there - they know it's the worst and they're lying through their teeth when they say it's over.
GS says the government got it right. The US and UK governments did get it right - for GS, JPMC etc.
6. britishblue said...
The patient comes out of cardiac arrest. But what position is the patient in then? Do they rebound to full health, or do they have to be carefull for the rest of their lives or do they enter a state of paralysis where they cant move and have to be fed by a drip?
Coming out of a recession, my become fairly meanless as it doesnt measure many of the things that effect the standard of living of the average man on the street. It would be much more enlightening to know what post recession standard of living will be for the masses.
7. vacuouspolitician said...
What a greasy, slimy, morally bankrupt spiv.
Listen to Penfold. lol. He knows what he's talkin about.
8. yorkshireman said...
Which part of the economy is growing heaven's sake ? Maybe the financial sector, but when the tax pot starts to run dry, who will foot the bill and provide the 'stimulus' then ?
9. icarus said...
In the vid not a lot was happening in all that factory space where the Lord of Darkness was talking about 'continuous improvement'. What was the bloke to his right fiddling with?
10. mr g said...
Excuse my ignorance but who is Penfold?
11. debtfree said...
This is pure spin and lies with not one bit of substantial information.
There is no official (fudged) data to confirm any of what he is saying and it has Mandelson and Brown splattered all over the article who are not be trusted in anyway.
12. mr g said...
@9
Ah, continous improvement! Therein lies some bullsh*t.
I've worked in manufacturing for 45 years and any firm worth it's salt has had to continually improve to survive.
Unfortunately, over the last 10 / 15 years it has become a management speak buzz word along with "lean manufacturing" so Mandy has obviously been talking with some forward thinking manufacturing "experts"
13. vacuouspolitician said...
mr g said... @10
King AKA Penfold
14. down wave said...
Newspapers will say anything at this time to try to reduce the number of unsold returns. A much larger quantity of newspapers, magazines and journals are being returned everyday for pulping than are being sold. Even the Daily Mail on Saturday included a free copy of the Halo magazine. The same is true for book sales, they are way down on last year. On the other hand the free newspapers get snapped up, after all, you have to wrap your food rubish up in something.
15. devo said...
Who do YOU trust, down wave?
16. down wave said...
15. devo said...Who do YOU trust, down wave?
Only myself, my staff, my daughters and some of my professional associates. Its now dog eat dog days ahead, just as most people on this blog have indicated.
17. The Capitalist said...
Jim O'Neill best mates with Gavyn Davies, ex boss of GS and head of BBC, who's best mates with Gordon Brown?
Funny old world.