Thursday, May 1, 2008
No Sh#t Sherlock!
On Tuesday, David Blanchflower of the Bank of England's rate-setting monetary policy committee (MPC) said house prices could fall by a third over the next few years, with the UK repeating the recent experience of the US. City analysts said the Nationwide data marked the start of a long period of decline until the last possible date for the next election, particularly since lenders were taking a hard line with borrowers. A report yesterday showed that four out of 10 lenders had not passed on last month's cut in base rates. When Mr B is sacked from the MPC for telling the truth (however obvious) - can I have his job?