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Sledgehead

New Term Coined : "stagflation"

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So there I am listening to the great and the knowledgeable commenting on the papers on the Andrew Marr show. It's Martha Kearney, old Oxonian and veteran broadcaster 'hosting', with Meera Syal, MBE, and Michael Parkinson, CBE and veteran broadcaster giving it jaw on the sofa.

After speculating greedily how much they all might make from News International's attempts to get authentic stories, and agreeing one jockey in intensive care and two horses in dog-food tins is a price woorth paying to see chavs turn out in pukka clobber, they move bravely into the less travelled lands of UK economics and a story concerning the recovery. Syal makes the first overture : "Apparently there's some clever guy at Citigroup who has coined a new term for the state we're in. He says we are suffering 'stagflation', where inflation is outstripping the growth in the economy." The group give their agreements, tacit or otherwise, and we move on ....

:blink:

Wikipedia : "The portmanteau stagflation is generally attributed to British politician Iain Macleod, who used the term in a speech to Parliament in 1965"

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My first shout of the day, there is no excuse for this, a couple of seconds on Google would have let her know. Utter tripe.

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Yup noticed that. Maybe she wasn't around in the 1970's.

Its on now, Peter Hain given a nice easy ride. The Coalition Chief Secretary to the Treasury being put through the wringer of course.

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My first shout of the day, there is no excuse for this, a couple of seconds on Google would have let her know. Utter tripe.

Kearney has moved on to a less than surgical attack on our contribution to the bailout of Portugal. She accuses Danny Alexander of spending ~£4bn on Portugal that could be used for "schools and hospitals" (wot, no "arts"?). "No, this is money that will come from the IMF, it had already been pledged," says Alexander. Presumably she thinks the IMF is some kind of fixed rate bond we can draw on when we need to deploy a little discretionary spending? :blink:

How many financial crisis has this women seen before, and how did she manage to learn so little?

Edited by Sledgehead

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There's never been a better time to buy an Economics 101 textbook.

The irony of Indifference Curves is that you either love them or hate them. Personally I don't mind them.

Edited by Dave Spart

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Meera Syal is either too young to remember stagflation (which I doubt - she's generally reported to have been born in 1961), or she didn't read the right kind of papers when she was in her teens.

I remember the word quite clearly from the late 60s and the 70s. I've tried checking newspaper archives, without paying, and got a number of hits from that period from the Guardian archives search facility. The Times archive you have to pay for and the Telegraph archives I can find only go back to 2001.

Unless, of course, she's actually quoting somebody from Citigroup who actually believes he's invented the word. Can't say I'd be astonished if that was the case.

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Why on earth is she commenting on matters where she is clearly ignorant, and why isn't anyone else on the show pointing this out? Why couldn't she bothered to research what she was going to comment on?

Edited by Tonkers

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Meera Syal is either too young to remember stagflation (which I doubt - she's generally reported to have been born in 1961), or she didn't read the right kind of papers when she was in her teens.

I remember the word quite clearly from the late 60s and the 70s. I've tried checking newspaper archives, without paying, and got a number of hits from that period from the Guardian archives search facility. The Times archive you have to pay for and the Telegraph archives I can find only go back to 2001.

Unless, of course, she's actually quoting somebody from Citigroup who actually believes he's invented the word. Can't say I'd be astonished if that was the case.

Either way the muted non-reaction from Kearney & Parkinson was Kafkaesque to say the least. Still, BBC2 has now moved up the evolutionary scale. Another safo prog, but this one is called "something for the weekend". It's some property presenter and WAG Louise discussing a new denomination in the lexicographical coinage: "labradoodle". Needless to say all parties know the meaning of that important term.

<_<

Edited by Sledgehead

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I've been thinking for some time we needed a new term to define the state the Western world is in. A genuine new term this time, I propose 'receeding economy'. A receeding economy being the opposite of an emerging economy.

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I've been thinking for some time we needed a new term to define the state the Western world is in. A genuine new term this time, I propose 'receeding economy'. A receeding economy being the opposite of an emerging economy.

`turderised`..

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Why on earth is she commenting on matters where she is clearly ignorant, and why isn't anyone else on the show pointing this out? Why couldn't she bothered to research what she was going to comment on?

+1

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No need for a new word.

How about one that is hundreds of years old.

BUST.

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We were repeatedly told "this time its different" and they were right without even so much as being honest as to why: "F0ck You Buddy", John Nash's Cold War game theory exercise had taken such a grip on the population they had shrugged off any wisdom they msy have had and also the virtues of truthfulness and caring for the wider consequences of their individual economic decisions. Only one thing mattered: profit through property. Nuclear finance made it possible, the same nuclear finance that had brought Enron, WorldCom et al to catastrophe.

So rather than coin a new term I'd just like to dust one down I coined at the height of the crisis: enronomy, meaning an economy consumed by deceit, confidence tricks and wilful malfeasance, with dangerously simplistic financials models masquerading as foolproof panacea.

Enronomy

Enronomic

Enronomics

Enronomical

Edited by Dave Spart

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Syal makes the first overture : "Apparently there's some clever guy at Citigroup who has coined a new term for the state we're in. He says we are suffering 'stagflation', where inflation is outstripping the growth in the economy."

Apparently she's a comedienne. Actually knowing anything at all isn't important to be on the Marr show (a small window into the UK) and the others on the programme wouldn't know any better that's why they're on the programme to comment on politics and economics.

Just another load of people to throw taxpayers money at.

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I swear us lot would do a better job runing the country & media.

90% of the media do nothing more than regurgitate the "information", spin and PR press releases from the corporations and politicians.

Mind you seeing a lot more mention of hyperinflation in certain quarters. I think we are teetering on the brink of it in some sectors, we've had stagflation for a long time, it is just the central bankrupts and their political and bankster pals didn;t want to mention it as people migt have suggested they hadn't the first clue about running an economy.

Edited by OnlyMe

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So there I am listening to the great and the knowledgeable commenting on the papers on the Andrew Marr show. It's Martha Kearney, old Oxonian and veteran broadcaster 'hosting', with Meera Syal, MBE, and Michael Parkinson, CBE and veteran broadcaster giving it jaw on the sofa.

After speculating greedily how much they all might make from News International's attempts to get authentic stories, and agreeing one jockey in intensive care and two horses in dog-food tins is a price woorth paying to see chavs turn out in pukka clobber, they move bravely into the less travelled lands of UK economics and a story concerning the recovery. Syal makes the first overture : "Apparently there's some clever guy at Citigroup who has coined a new term for the state we're in. He says we are suffering 'stagflation', where inflation is outstripping the growth in the economy." The group give their agreements, tacit or otherwise, and we move on ....

:blink:

Wikipedia : "The portmanteau stagflation is generally attributed to British politician Iain Macleod, who used the term in a speech to Parliament in 1965"

Can I just say I love your writing style? :D

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It's some property presenter and WAG Louise discussing a new denomination in the lexicographical coinage: "labradoodle".

labradoodle must be even older than stagflation... guide dogs for the blind experimented with them years ago with the idea of having a dog as docile as a labrador but with the intelligence of a poodle. AKA Poodledor.

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I've been thinking for some time we needed a new term to define the state the Western world is in. A genuine new term this time, I propose 'receeding economy'. A receeding economy being the opposite of an emerging economy.

I say dedevloping, undeveloping laugh.gif

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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