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Realistbear

Rate-setter Blanchflower Honoured

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......Predicting the crash.

http://news.bbc.co.uk/1/hi/business/8097948.stm

He called for sharp interest rate cuts early last year as he warned of an economic slump, but was ignored by the rest of the MPC amid worries about inflation. The Bank eventually started cutting rates in October.

Stating the obvious IMO.

The Queen should cut his head off.

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......Predicting the crash.

http://news.bbc.co.uk/1/hi/business/8097948.stm

He called for sharp interest rate cuts early last year as he warned of an economic slump, but was ignored by the rest of the MPC amid worries about inflation. The Bank eventually started cutting rates in October.

Stating the obvious IMO.

he wanted to cut rates to MAINTAIN the 10 year stimulus.

Lets suppose what would have happened if he was allowed free reign...

The mortgage boom would have continued right up to the time the US Banks failed, and UK banks failed even worse than they ultimatetly did. UK subprime would have been the main driver of mortgage sales.

The rescue of UK banks may not have even been possible.

IMHO, the rest of the MPC, useless as they are, should have knighthoods for IGNORING him.

Edited by Bloo Loo

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......Predicting the crash.

http://news.bbc.co.uk/1/hi/business/8097948.stm

He called for sharp interest rate cuts early last year as he warned of an economic slump, but was ignored by the rest of the MPC amid worries about inflation. The Bank eventually started cutting rates in October.

Stating the obvious IMO.

Arise sir Realist Bear does have a certain ring to it.

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if i remember right, Blanchflower consistently voted for cuts for years - in part contributing to that stupid rate cut in '05 that caused the market to go from the subprime to the ridiculous

..and he gets a Knighthood! mind you with the crook Mandelson practically receiving fellatio from the palace, the dark heart of this supposed 'free' country reveals itself a little more every day

shame it's too temperate here to grow bananas...

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I laughed at this news.

All we needed was lower interest rates, dammit!

Likewise! Now all the sheeple are being told, by the queen no less, that low IRs solve everything...

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An absolute disgrace.

Yet more rewards for failure in banking.

Edited by Cogs

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The Queen should cut his head off.

Perhaps her Building Society investments were immune from the rate cuts

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......Predicting the crash.

http://news.bbc.co.uk/1/hi/business/8097948.stm

He called for sharp interest rate cuts early last year as he warned of an economic slump, but was ignored by the rest of the MPC amid worries about inflation. The Bank eventually started cutting rates in October.

Stating the obvious IMO.

Predicting the Crash..............in much the same way that the average arsonist has the uncanny knack of predicting the location of the next fire.

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