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King Prawn Aloo

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The great US bubble extender and backseat driver of UK central bank policy having a dig at old fist puppet.


David Blanchflower threatened to quit Bank of England over recession failures


In a searing attack on the Bank, Prof Blanchflower has accused Mervyn King, the Governor, of failing to act fast enough in response to the recession. He said the Bank was guilty of "group think" and described those who opposed more quantitative easing at last month's meeting as "the feeble six"


The column is highly unusual since few previous MPC members have offered any insight into behind-the-scenes events at the Bank. Prof Blanchflower also claimed that he helped engineer the surprise 1.5pc point cut in rates last November after Tim Besley, a fellow MPC member who had been calling for higher rates only a few months earlier, "came to see me to say that he realised he had been wrong and to ask what he could do to help turn things around on the committee".

Prof Blanchflower said he then helped persuade Mr King to authorise the cut, which was later voted through at the official meeting.

However, insiders expressed bewilderment at this account of the decision, saying no deal was struck before the meeting.

In the column, he also urged the MPC to ease monetary policy further, with either rate cuts or quantitative easing. The Bank declined to comment.

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He is a one dimensional, self centred muppet: Not a peep when low interest rates were helping to create the bubble. Wheeled in by Heeby-GB to sustain the low interest environment. The government appointers must have realized that his ego would thrive on being the outspoken loner.

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