Thursday, March 26, 2009

Stimulation or not?

Merv swerves curveball

Mervyn King warns we running out of cash and can't afford another fiscal stimulus. What's up? Merv, Alistair and GB not all singing from the same hymn sheet any more? One theory being talked about in Whitehall...

Posted by mountain goat @ 09:49 AM (945 views)
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One thought on “Stimulation or not?

  • mountain goat says:

    Still a fair degree of puzzlement still at Mervyn King’s exploding Budget submission yesterday. One theory doing the rounds in government is that Merv was actually trying his hand at a touch of media management. The Governor nailed his intellectual sails to the quantitative easing mast, believing that printing money is needed to avoid deflation. But yesterday’s CPI figures came as a worrying shock to Merv – 3.2 per cent. So he needed to create a distraction, to avoid questions being asked about his own decisions. Hence his little present for Gordon at the Treasury Select Committee yesterday. That, as I say, is one theory being talked about in Whitehall.

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