Friday, July 4, 2008
Asleep At The Wheel
Contributing to one of the threads yesterday, I touched on the worrying trend in government these days to avoid ANY talk of bad news - lest it undermine confidence in the market. And true enough, there's Alistair Darling today - in the face of carnage on the High St and housing sector, declaring that the economy is sound. But wait . . maybe he actually believes it. Especially if the government is supplied with stats like these from the DTI (BERR) - its 'high scenario' forecasting oil reaching a stratospheric $105 bbl by 2030. Best comment is by 'bunyonhead': 'My only suggestion to BERR is that if they intend to publish the report for mass market consumption, they should do so in a joint venture with Andrex so that the report will at least have some utility'.