Friday, January 9, 2009

Let the treatment run its course: recession

..I've a small piece of advice to offer

Columnist in the Independent newspaper Andreas Whittam Smith says: "... it would be best to admit that the recession will just have to take its course, long and bitter experience though that would be." He makes the point that all the govt actions since Aug 1997 have so far prevented the worst scenarios (I guess this means HBOS going bust for instance). But we are still in a vicious downturn.

Posted by voiceofreason @ 10:10 PM (965 views)
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6 thoughts on “Let the treatment run its course: recession

  • I completely agree. The tories have shown that if you do nothing, you can come through a recession……and even have an ”economic miracle” at the end of it.

    Gordon Brown is an absolute liability. Someone should stop this lunatic.

    Also Andreas Whittam Smith makes a lovely cup of tea.

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  • The last great depression was the same, recession into depression caused by meddling.

    It makes you wonder how and why our leaders make the same mistakes.

    hpwatcher said “Gordon Brown is an absolute liability. Someone should stop this lunatic”

    crunchy… Lunatic to some genius or good boy to others perhaps.

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  • Missedtheboat says:

    His advice is “buy bonds”.

    But bonds are now in a bubble. One would be far better investing in NS&I passbook, it’s free of default risk, pays the same measly return, and more over you aren’t buying bonds at extremely narrow yields.

    See “dated gilts plunge to record low”: http://www.guardian.co.uk/business/feedarticle/8182892

    You’d have to be insane to invest in this.

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  • crunchy… Lunatic to some genius or good boy to others perhaps.

    True. Only time will really tell, of course…..but I have my suspicions….

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  • Perhaps Gordon Brown would make a better Tea Boy than he has of being Prime Minister / Chancelllor?

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  • 3. hpwatcher

    lol. SO DO I. It makes much more sense!

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