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Kaletsky To Write Book On Great Depression

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HPC's " favourite" economic journo makes some more "forecasts" before he writes the definitive book on the crises :lol:

I guess he'll be air brushing out his predictions from 2004 to 2008 and having a dig at the HPC crowd (and others) at the same time

http://www.timesonline.co.uk/tol/comment/c...icle6846599.ece

"..As this is my last column before taking leave to write a book about the Great Depression that never happened, let me try to forecast some of the main events that will probably happen in the months ahead.

Between now and Christmas, the recession in Britain will almost certainly end. That, at least, will be the official story, with government statisticians declaring an expansion in GDP. Unemployment will rise for another six months or so, but is unlikely to reach the shock-horror levels above 3 million thought inevitable a few months ago. House prices will probably stabilise after the recent sharp rebound and in stockmarkets, too, normal conditions will gradually return. So it seems this recession will be considerably less painful than the Tory ones of the 1980s and 1990s, when unemployment peaked at much higher levels and more people lost their homes......" etc etc

Looks like he's influencing the "chattering classes" now too :blink:

"....With no improvement likely in Mr Brown’s dismal poll figures, Labour loyalists will have to start taking seriously my argument, now gaining attention among the chattering classes, that the 2010 election may not merely mark another rhythmic swing from left to right in Britain’s political pendulum.

Instead it may set off a once-in-a-century upheaval in the structure of British politics, with the Liberal Democrats displacing Labour as the dominant part of the Left in a neat reversal of the process that began almost 100 years ago with the defeat of David Lloyd George".......

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As this is my last column before taking leave to write a book about the Great Depression that never happened

You can't write a book about a non event. I think he been sacked and this is the cover story.

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HPC's " favourite" economic journo makes some more "forecasts" before he writes the definitive book on the crises :lol:

I guess he'll be air brushing out his predictions from 2004 to 2008 and having a dig at the HPC crowd (and others) at the same time

http://www.timesonline.co.uk/tol/comment/c...icle6846599.ece

"..As this is my last column before taking leave to write a book about the Great Depression that never happened, let me try to forecast some of the main events that will probably happen in the months ahead.

Between now and Christmas, the recession in Britain will almost certainly end. That, at least, will be the official story, with government statisticians declaring an expansion in GDP. Unemployment will rise for another six months or so, but is unlikely to reach the shock-horror levels above 3 million thought inevitable a few months ago. House prices will probably stabilise after the recent sharp rebound and in stockmarkets, too, normal conditions will gradually return. So it seems this recession will be considerably less painful than the ones of the 1980s and 1990s, when unemployment peaked at much higher levels and more people lost their homes......" etc etc

HAHAHAHAHOHOHOHOHOHAHAHAHAHOHOHOHOHOHAHAHAHAHOHOHOHOHOHAHAHAHAHOHOHOHOHOHAHAHAHA

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HAHAHAHAHOHOHOHOHOHAHAHAHAHOHOHOHOHOHAHAHAHAHOHOHOHOHOHAHAHAHAHOHOHOHOHOHAHAHAHA

HAHAHAHAHOHOHOHOHOHAHAHAHAHOHOHOHOHOHAHAHAHAHOHOHOHOHOHAHAHAHAHOHOHOHOHOHAHAHAHA

HAHAHAHAHOHOHOHOHOHAHAHAHAHOHOHOHOHOHAHAHAHAHOHOHOHOHOHAHAHAHAHOHOHOHOHOHAHAHAHA

HAHAHAHAHOHOHOHOHOHAHAHAHAHOHOHOHOHOHAHAHAHAHOHOHOHOHOHAHAHAHAHOHOHOHOHOHAHAHAHA

HAHAHAHAHOHOHOHOHOHAHAHAHAHOHOHOHOHOHAHAHAHAHOHOHOHOHOHAHAHAHAHOHOHOHOHOHAHAHAHA

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HAHAHAHAHOHOHOHOHOHAHAHAHAHOHOHOHOHOHAHAHAHAHOHOHOHOHOHAHAHAHAHOHOHOHOHOHAHAHAHA

Edited by Tamara De Lempicka

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Totally f**king shameless, isn't he?

Anyway, as he's made these three important predictions:

- Between now and Christmas, the recession in Britain will almost certainly end.

- Unemployment is unlikely to reach the shock-horror levels above 3 million.

- The Liberal Democrats displacing Labour as the dominant part of the Left.

We can all rest assured that the very opposite will happen.

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You do have to wonder if he actually believes anything he writes, or whether:

a ) He's aware that happy fairy stories are more popular and require less effort to write than any detailed analysis of reality, or

b ) He's a paid-up cheerleader for someone out there with a major vested interest in the continuation of bubble economics, or

c ) He likes to generate controversy, in a bit to attract attention to his articles and wind people up, making him a very subtle print version of an internet troll (and one that gets paid for the privilege).

Edited by Heavily Armed Gorilla

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As this is my last column before taking leave to write a book about the Great Depression that never happened,

Store that one, 80 years from now it'll probably rank alongside "new and permanently high plateau" (although perhaps not, Irving Fisher was a respected economist).

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Guest UK Debt Slave
HPC's " favourite" economic journo makes some more "forecasts" before he writes the definitive book on the crises :lol:

I guess he'll be air brushing out his predictions from 2004 to 2008 and having a dig at the HPC crowd (and others) at the same time

http://www.timesonline.co.uk/tol/comment/c...icle6846599.ece

"..As this is my last column before taking leave to write a book about the Great Depression that never happened, let me try to forecast some of the main events that will probably happen in the months ahead.

Between now and Christmas, the recession in Britain will almost certainly end. That, at least, will be the official story, with government statisticians declaring an expansion in GDP. Unemployment will rise for another six months or so, but is unlikely to reach the shock-horror levels above 3 million thought inevitable a few months ago. House prices will probably stabilise after the recent sharp rebound and in stockmarkets, too, normal conditions will gradually return. So it seems this recession will be considerably less painful than the Tory ones of the 1980s and 1990s, when unemployment peaked at much higher levels and more people lost their homes......" etc etc

Looks like he's influencing the "chattering classes" now too :blink:

"....With no improvement likely in Mr Brown’s dismal poll figures, Labour loyalists will have to start taking seriously my argument, now gaining attention among the chattering classes, that the 2010 election may not merely mark another rhythmic swing from left to right in Britain’s political pendulum.

Instead it may set off a once-in-a-century upheaval in the structure of British politics, with the Liberal Democrats displacing Labour as the dominant part of the Left in a neat reversal of the process that began almost 100 years ago with the defeat of David Lloyd George".......

I presume this new tome shall reside in the 'Fiction' section of Waterstones.

Kaletsky is one of the worst financial journalists out there, a total yes man for the Keynesian pipedreamers

Edited by UK Debt Slave

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I started reading Kaletsky when I was an A-level student just getting into the habit of reading newspapers. At the time I thought he was the bee's knees because he used lots of big words in his columns, so I thought, "here is a man who knows what he's talking about, much better than your average shallow journalist who just reports 'X has gone up by 3% this year' with no explanation as to why." But as time wore on I started to realise that his predictions were not just occasionally wrong, they were consistently, reliably, catastrophically wrong. Honestly if I ever need to hire an economist to do some forecasting I will get Kaletsky and then just work on the assumption that whatever he says, the opposite will happen.

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Who are the 'chattering classes'? Is it simply people who talk to each other about current affairs?

Seems pretty derogatory to me, almost as if he's saying people shouldn't be allowed to question how badly the 'elite' ****** everything up.

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Looks like he's influencing the "chattering classes" now too :blink:

"....With no improvement likely in Mr Brown’s dismal poll figures, Labour loyalists will have to start taking seriously my argument, now gaining attention among the chattering classes, that the 2010 election may not merely mark another rhythmic swing from left to right in Britain’s political pendulum.

Instead it may set off a once-in-a-century upheaval in the structure of British politics, with the Liberal Democrats displacing Labour as the dominant part of the Left in a neat reversal of the process that began almost 100 years ago with the defeat of David Lloyd George".......

Ha! More like left to left. There is no right in British politics, and there is no right in US politics either. In both countries, you couldn't hardly slip a piece of paper between the policies of the parties. They all work to increase the power of the state.

Right means no state interference, left means complete state domination. The Libertarians are the most right wing party in politics today, but they never get a look in.

This is why the politicians are making such dire mistakes in the USA; the backbone of the US are very right wing in that they are strong individualists, bordering upon anarchists, and that is how the US works. This is going to lead to great conflict. Apparently bullets are selling so fast over there that there just is not enough stock. But nonetheless there are also a number of private citizen groups who probably can make their own ammunition in large quantities, if necessary.

Kaletsky is all about mood music, not specifics, IMO.

Edited by Toto deVeer

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Once upon a time in the small Kingdom of United something bad and totally unexpected happened.

But then a few short months later it went away just as quickly as it came.

And they all lived happily ever after.

The end.

© Anatole Kaletsky 2009.

Very good, you must be the ghost writer. :)

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