or in excess of Posted February 16, 2011 Share Posted February 16, 2011 Mervyn King said today that we SHOULD avoid a double dip recession. That, to me, means it`s a certainty. Quote Link to comment Share on other sites More sharing options...
tim123 Posted February 16, 2011 Share Posted February 16, 2011 (edited) Mervyn King said today that we SHOULD avoid a double dip recession. That, to me, means it`s a certainty. well of course we SHOULD, but does he think that we will? tim Edited February 16, 2011 by tim123 Quote Link to comment Share on other sites More sharing options...
Patfig Posted February 16, 2011 Share Posted February 16, 2011 Its just one big dip all the way down Quote Link to comment Share on other sites More sharing options...
Lepista Posted February 16, 2011 Share Posted February 16, 2011 Mervyn King said today that we SHOULD avoid a double dip recession. That, to me, means it`s a certainty. Because they will adjust the figures so that we didn't actually leave the first dip. Quote Link to comment Share on other sites More sharing options...
jonboy2010 Posted February 16, 2011 Share Posted February 16, 2011 Mervyn King said today that we SHOULD avoid a double dip recession. That, to me, means it`s a certainty. He dosent fill you with confidence. Quote Link to comment Share on other sites More sharing options...
Guest sillybear2 Posted February 16, 2011 Share Posted February 16, 2011 I'd rather bet on an electrocuted horse winning at Ascot than believe King. Quote Link to comment Share on other sites More sharing options...
Patfig Posted February 16, 2011 Share Posted February 16, 2011 I'd rather bet on an electrocuted horse winning at Ascot than believe King. I was just thinking that Quote Link to comment Share on other sites More sharing options...
exiges Posted February 16, 2011 Share Posted February 16, 2011 Because they will adjust the figures so that we didn't actually leave the first dip. Yep, just give us a +0.1 growth then correct them down the following quarter when nobody is watching. Quote Link to comment Share on other sites More sharing options...
se7ensport Posted February 16, 2011 Share Posted February 16, 2011 To slightly misquote someone else on HPC (apologies I can't remeber who): It is NOT a double dip, it is a massive single dip with printed money dropped on to the slope to give the impression of a recovery. Quote Link to comment Share on other sites More sharing options...
Guest sillybear2 Posted February 16, 2011 Share Posted February 16, 2011 Speaking of old men running ponzi schemes, Madoff has done an interview :- http://www.nytimes.com/2011/02/16/business/madoff-prison-interview.html Quote Link to comment Share on other sites More sharing options...
gravity always wins Posted February 16, 2011 Share Posted February 16, 2011 We never came out of recession Merv you dipsh*t. GDP is overstated thanks to your funny money and Zirp, and your inflation figures are a joke. The economy is shrinking in real terms. Quote Link to comment Share on other sites More sharing options...
Guest sillybear2 Posted February 16, 2011 Share Posted February 16, 2011 We never came out of recession Merv you dipsh*t. GDP is overstated thanks to your funny money and Zirp, and your inflation figures are a joke. The economy is shrinking in real terms. Yup, that's why the unemployment figures are so horrific, especially when it comes to generating jobs for school leavers and graduates. Quote Link to comment Share on other sites More sharing options...
gravity always wins Posted February 16, 2011 Share Posted February 16, 2011 Yup, that's why the unemployment figures are so horrific, especially when it comes to generating jobs for school leavers and graduates. Yes, totally unexpected of course! Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted February 16, 2011 Share Posted February 16, 2011 Judging by the BoE past predictive record it's odds on we'll have a double dip. The only think Mystic Prat has called correctly is getting the BoE to move it's pension fund into a inflation hedge. He seems quite good at creating inflation. Quote Link to comment Share on other sites More sharing options...
Xurbia Posted February 16, 2011 Share Posted February 16, 2011 (edited) King is a liar. He's known all along that the UK is in terrible trouble and that's why he's allowed QE and the inflation. Why the hell is he still in office? Edited February 16, 2011 by Xurbia Quote Link to comment Share on other sites More sharing options...
Guest sillybear2 Posted February 16, 2011 Share Posted February 16, 2011 Yes, totally unexpected of course! It looks like shoveling endless free money at a bunch of crooks in The City doesn't generate real growth or broad-based employment. However, it does seem like an ideal way to generate stagflation, so one for the textbooks. I guess a decadent rentier state where people monopolise assets and speculate on the price of mars bars was enviable before a final collapse. Quote Link to comment Share on other sites More sharing options...
billybong Posted February 16, 2011 Share Posted February 16, 2011 Mervyn King said today that we SHOULD avoid a double dip recession. That, to me, means it`s a certainty. Is that one of his predictions for the medium term or for 2 years time or for some other time frame. His predictions on the economy are as credible as his predictions on inflation. Zero credibility. That's not to say that he might just be right but if he is right it will be a total fluke. Nostradamus he isn't, not by a long chalk. Quote Link to comment Share on other sites More sharing options...
red Posted February 16, 2011 Share Posted February 16, 2011 To slightly misquote someone else on HPC (apologies I can't remeber who): It is NOT a double dip, it is a massive single dip with printed money dropped on to the slope to give the impression of a recovery. couldn't agree more... Quote Link to comment Share on other sites More sharing options...
Guest sillybear2 Posted February 16, 2011 Share Posted February 16, 2011 (edited) Is that one of his predictions for the medium term or for 2 years time or for some other time frame. His predictions on the economy are as credible as his predictions on inflation. Zero credibility. That's not to say that he might just be right but if he is right it will be a total fluke. Nostradamus he isn't, not by a long chalk. You'd get more insightful forecasts out of a magic 8 ball. This time last year they said inflation would now be 1%, today he said it will soon breach 5%. We need to collectively wise up and realise that neither a committee of clowns nor a committee of PhD's are able to accurately predict anything, so using them to make policy is one giant folly. If only Paul the Octopus was still with us, he'd know that 2 years of ultra low rates and QE can only mean one thing. Edited February 16, 2011 by sillybear2 Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted February 16, 2011 Share Posted February 16, 2011 CPI is bang on target at 4%. They just haven't told anyone they have officially changed the target yet. Quote Link to comment Share on other sites More sharing options...
billybong Posted February 16, 2011 Share Posted February 16, 2011 You'd get more insightful forecasts out of a magic 8 ball. This time last year they said inflation would now be 1%, today he said it will soon breach 5%. We need to collectively wise up and realise that neither a committee of clowns nor a committee of PhD's are able to accurately predict anything, so using them to make policy is one giant folly. If only Paul the Octopus was still with us, he'd know that 2 years of ultra low rates and QE can only mean one thing. Shame that Paul the Octopus has passed away, he would have been a far better governor of the BoE. At least he couldn't have been any worse than the current incumbent and far cheaper. Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted February 16, 2011 Share Posted February 16, 2011 Not looking good for transaction volumes! Quote Link to comment Share on other sites More sharing options...
nuts Posted February 16, 2011 Share Posted February 16, 2011 King is a scared little bureaucrat, an apologist for a system that is out of control. We need a BoE governor who is decisive and can shape events. He claims that ... Inflation due to weak pound ... yet he does not see ZIRP as a factor - does he not understand basic FX economics ? He is indeed a buffoon - and will go down in history as having presided over a cataclysm. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted February 16, 2011 Share Posted February 16, 2011 http://www.bankofengland.co.uk/monetarypolicy/decisions.htm Looking at the historical voting spreadsheet it appears that King voted for the consumer boom cuts in 2003, although to be honest the spreadsheet doesn't appear that easy to follow. Quote Link to comment Share on other sites More sharing options...
'Bart' Posted February 16, 2011 Share Posted February 16, 2011 Mervyn King said today that we SHOULD avoid a double dip recession. That, to me, means it`s a certainty. I wouldn't believe King if he told me that the sun would come up tomorrow. Quote Link to comment Share on other sites More sharing options...
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