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Son of Fred

Bank Policy Man Warns On Jobless

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Soon there will be even more 'Idiots' down the Job Centre.

People, I think, are going to be shocked for several months to come about the scale of the increases in unemployment that are in train, and there's nothing much really we can do about it," Mr Blanchflower warned.

My worry is that we're going to see a million young people under the age of 25 unemployed by September"

"My view is that [whereas] we've seen increases in unemployment of about 40,000 month, now we're going to see numbers in the hundred thousands a month.

"Unemployment is going to go up, well over three million and it's going to interact in places with negative housing equity - these are really tough times ahead," he said.

http://news.bbc.co.uk/1/hi/business/8102063.stm

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Let's not forget this is the man who would see a consensus of -0.25% cut and vote for -0.5% when

he knew it could not happen, just to prove some point. There was no way it would ever take place

the consensus was against him, the vote beyond that carried no weight yet he would do it anyway.

And this was a vote taken together, after a meeting where the consensus took place.

Just to point out Blanchflower is a tw@t, not that he is wrong.

Edit: twit = tw@t

Edited by Tom Peters

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Hmmm... I'm sceptical about this article. Surely, the highest jump in unemployment is after xmas when all those temporary workers are laid off and can't find other work. It's obvious that unemployment is going up, but how will it be double month on month going forward?

I just think it's an article to justify more QE as the deadline is coming up. Sorry, I'm just sceptical when it comes to Blanchflower... following his past record...

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Guest DissipatedYouthIsValuable
Man, that Blanchflower fella is amazing, I mean who would have thought that a huge financial crisis would have caused unemployment and negative equity. Awesome! ;)

Apparently his forecasting skills are matched only by his prowess at pleasing women.

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.

Just to point out Blanchflower is a tw@t, not that he is wrong.

Edit: twit = tw@t

You are a disgrace TP; kindly use the creature's new title!

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Apparently his forecasting skills are matched only by his prowess at pleasing women.

don't you mean his wife's prowess? Hyuk hyuk

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He seems to be referring mainly to those leaving school.

There are, indeed, just no jobs for them.

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He seems to be referring mainly to those leaving school.

There are, indeed, just no jobs for them.

How many are leaving school and university this year to enter the job market? Heard a figure of 500,000 but not sure

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He seems to be referring mainly to those leaving school.

There are, indeed, just no jobs for them.

Cheaper and younger trolley dolleys when BA obliterates the higher paid ones?

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Cheaper and younger trolley dolleys when BA obliterates the higher paid ones?

If they're desperate enough it could be in their contract that they had to "put out" for first class passengers.

New USP for British Airways.

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Let's not forget this is the man who would see a consensus of -0.25% cut and vote for -0.5% when

he knew it could not happen, just to prove some point. There was no way it would ever take place

the consensus was against him, the vote beyond that carried no weight yet he would do it anyway.

And this was a vote taken together, after a meeting where the consensus took place.

Just to point out Blanchflower is a tw@t, not that he is wrong.

Edit: twit = tw@t

Er I don't get your point. Blanchflower was the only one consistently correct on rate decisions. Every month he basically voted for what the others voted for the next month.

Are you saying you respect people more for voting with everybody else just to be the same?

Man, that Blanchflower fella is amazing, I mean who would have thought that a huge financial crisis would have caused unemployment and negative equity. Awesome! ;)

He called it early and did not underestimate the severity unlike just about every other economist.

Now I don't love Blacnhflower or anything but the reason why he is so hated on here is because he voted for rate cuts which every other country in the world has now followed suit.

HPCers want high rates and low house prices but because of policy we have low rates and high house prices but also high mortgages.

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