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You're Wrong, Stephanie Flanders

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Here are some of the commenst attacking Stephanie's blog, which can be found at: http://www.bbc.co.uk/blogs/thereporters/st...#commentsanchor

1. At 11:41am on 23 Jan 2009, interestrateripoff wrote:

Again the press lies, this was seen and was forecast.

I predicted this would happen.

www.housepricecrash.co.uk predicted it would happen.

What you actually mean it that no one who's paid huge sums of money predicted it.

Question is are these people worth the money.

Why is the BBC using govt propaganda and calling this a downturn admit what it is a recession or a brownturn.

The amateur economists have the upper hand.

Perhaps the BBC should concentrate on what Roubini is predicting?

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2. At 11:42am on 23 Jan 2009, rcrobjohn wrote:

Forgive me for saying so but many people knew the recession was approaching. I remember having lunch with a director of well known US Investment bank way back in 2006 and he forecast what we are seeing today. It seemed unlikely at the time but as sure as night follows day it was coming. We have seen nothing yet - sadly. Optimism and confidence are needed now, not to end the recession but to bear what is to come.

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3. At 11:43am on 23 Jan 2009, penguina333 wrote:

"But from the standpoint of even a few months ago, it's a bolt from the blue. "

Sorry but any economist who didn't see this coming years ago is useless.

How was it not possible to see the biggest debt bubble in history and see that this would lead eventually to a depression?

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4. At 11:45am on 23 Jan 2009, MrRanter wrote:

Tell me again why the "experts" get paid so much?

My dog could do better.

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5. At 11:51am on 23 Jan 2009, AvensisTom wrote:

"The astonishing thing is - nobody did. As HSBC's Chief Economist Stephen King pointed out recently, if you look at the consensus forecasts for 2009 at the start of last year, not one forecaster predicted the scale of the meltdown. Not one."

I'm afraid you are quite wrong Stephanie ... there was a whole school of economics that predicted the scale of the meltdown .. did anybody listen ? No ... Is anyone listening now? No.. The reason why nobody is listening is because the solutions are politically unpalatable consisting of contrasocialist measures (high interest rates and massive cuts in public spending).

The school of economics BTW .. the Austrian School.

I suggest you familiarise youself and read up on the subject, and perhaps visit/interview the good folk at the Mises Institute.

www.mises.org

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6. At 11:58am on 23 Jan 2009, Acharmlessman wrote:

Utter nonsense.

There were many economists who predicted the collapse we are now experiencing back in 2007 and earlier.

The problem is nobody listened to them.

The government, the regulators, the media, the bank executives not to mention the general public simply do not understand the basic principles of economics.

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7. At 11:58am on 23 Jan 2009, Augsburger wrote:

It all makes me wonder where leaders and experts live. I may not have predicted the savage downturn but - like lots of other non experts - it was clear that there was something seriously wrong with the UK economy. E.g. massive balance of payments deficits year-on-year; industry receding year-on-year (we are now only in the market for "screwdriver factories" against competition from low cost countries in Eastern Europe and the Far East); massive borrowing and house prices out of control; the combination of a strong currency and a Chancellor - now PM - who thinks it?s a good time, with our competitiveness at a low point, to increase the tax burden year-on-year using stealth taxes ; ditto local authorities and council tax; a Chancellor, now PM who takes over a Government budget surplus and borrows so heavily he turns it in 11 years into a deficit so big we wouldn?t get into the Euro - what a great starting point for a recession!; simultaneous unbridled immigration.

Sorry, but these are matters of daily experience being discussed in pubs and barber shops.

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8. At 12:00pm on 23 Jan 2009, glanafon wrote:

The problem is quite simple. A bubble was created which boosted activity. Look at the graph above and remove the bubble effect and what do you see. It is obvious. Decline has attempted to be avoided by creating a bubble. That is why this impact is so sudden. The bubble has popped. There will not be 'recovery' to previous levels anytime soon. The economy has to drop to a lower level where it would have been bar the bubble. The situation is all the worse from trying to buck reality. More damage will result not less because of this. The demand on businesses that we have seen recently was unsustainable, so downsizing, in some cases substantial has to happen. Where is the surprise in this.

As for economists. Sorry the situation is actually simple. Who wants to see problems, who wants to advise cut back when the the pressure is the other way. Marketing, ie opinion, which what drives things forward is notoriously unreliable and often driven by the ego and vanity of the person answering. Loaded questions, loaded answers. Economists are not immune. Garbage in, garbage out.

The implications are serious. Public services have to decline, Access to services has to be throttled by one mechanism or another, and long term unemployment is here to stay. It does not matter how robust what is left is, and much of it will be, it cannot help those pushed to one side. A particular problem for some will be that they have overspecialised which will affect new employment opportunities. It is a total mess and nobody on a comfy ride has wanted to listen to the warnings.

Incidentally the HMG message is a herd message. Let the global comunity act in sync. The real answer is to act to get through and out the other side first.

To keep thinking that the 'new' lower level of the economy to be exposed shortly is not where it should be will only cause further problems. It is a matter of perception. Growth can only come from new working practices which are more financially effective ie provide proportionally less tax revenue, which does not help public fiances. Sorry.

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9. At 12:23pm on 23 Jan 2009, StevieYorkshire

This comment is awaiting moderation. Explain.

:lol::lol::lol: Well done, guys!

Edited by 1929crash

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Of course, you have your mavericks - or maybe just professional pessimists. (I interviewed one of the most prominent, Nouriel Roubini, this morning - see below.) But most are not employed by large banks or City firms.

The above is from her blog and I've added the highlight. Anyone think young Steph was onto a point here. Don't believe analysts, most are paid to form a certain conclusion. As are the BBC.

Good work in the comments BTW :rolleyes:

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I think you are being a tad unfair on stephanie.

The tone of the article is more along the lines of how economists are caught out and how they always follow the herd.

Obviously the dissenting voices weren't listened to, possibly because of the complaints they are getting now that the meeja are talking us into a recession (and I do know how ridiculous it is).

And because unless you are spot on with your timing you get sacked (as the article mentions).

I am sure now that there will be a plethora of economists forecasting doom (yeah, right).

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Was wondering weather to post this, it seems I've been beaten to it.

I was surprised that my comment was allowed especially with the dig at the BBC.

Why is the BBC using govt propaganda and calling this a downturn admit what it is a recession or a brownturn.

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Was wondering weather to post this, it seems I've been beaten to it.

I was surprised that my comment was allowed especially with the dig at the BBC.

Respec': you is #1

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Flanders is hopeless and for years has been obsessed with Brown's golden economic rule :rolleyes:

total nonsense and propaganda she has been reporting on for years and hardly questioned what the gov was up to

Edited by punter

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The BBC is full of her type,

Dazzling Looks

Sounds Clever

Middle Class

Middle England

Ski holidays

Gap year

Uni to Media without a real job

Stephanie

Fiona Bruce

Natasha

Any more ?

I went for a drink at a place chock full of BBC people (I was meeting a mate who is a freelance cameraman) and I was astonished by how attractive all the women were. My mate says its always been like that since he started 25 years ago and is the same at all the other TV companies too.

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The BBC is full of her type,

Dazzling Looks

Sounds Clever

Middle Class

Middle England

Ski holidays

Gap year

Uni to Media without a real job

Stephanie

Fiona Bruce

Natasha

Any more ?

Emily MateLess (sp ?) Blonde bint on newsnight........

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Was this the broad with boots on - BBC Breakfast this morning ? I heard her giving the 'No economists saw this coming - not even one' nonsense. She is pretty hot though.

I also quite fancy Daisy McAndrew from ITN news ? Quite chunky but lovely face and blonde hair.

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In 6 months time the Beeb journos will be writing "No one saw hyper inflation coming" - just you wait

Actually even Roubini doesnt buy the hyperinflation idea.

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Some great prescience on there, well done.

I am not aware of anytime in my life where I have been lied to so often and by so many in the public eye.

So, as it stands were all about to be put out of a job yet all have 33k to repay for the bailout. :lol::lol::lol: I am off to get me a t-shirt printed so I can educate the whole town without speaking.

Labour can go fvck themselves :( , sometimes I wish I had a voodoo doll.

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I went for a drink at a place chock full of BBC people (I was meeting a mate who is a freelance cameraman) and I was astonished by how attractive all the women were. My mate says its always been like that since he started 25 years ago and is the same at all the other TV companies too.

You can't say that sort of thing! The correct HPC view is that all other media are more accurate, less biased, and full of super intelligent people of an entirely different character to those working for the Beeb. This suggestion that other media are...... media .... full of attractive media types ..... well its just not on. ;)

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Was this the broad with boots on - BBC Breakfast this morning ? I heard her giving the 'No economists saw this coming - not even one' nonsense. She is pretty hot though.

I also quite fancy Daisy McAndrew from ITN news ? Quite chunky but lovely face and blonde hair.

She was the co-presenter of the Daily Politics when it started in 2003, just Daisy Sampson then. Nice lunchtime viewing, and I don't mean Andrew Neil.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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