Saturday, September 12, 2009
Blanchflower’s account of how he helped us
The story from the inside
Blanchflower gives his side of the story regarding the MPC's decision making during the crash; he actually admits trying to apply pressure to get his way after the MPC didn't set policy as he desired: (referring to the mid October 2008) "I then started a campaign to get rates down further by talking to various British business leaders, journalists and pressure groups. By the end of October, there was growing pressure from the media that rates needed to be cut again." then persuaded the rest of the MPC to go for a rate cut on 6 November shortly afterwards. Finally, here is a prediction: "the MPC will approve further quantitative easing by November at the very latest. He [King] may even manage to get rates down below 0.5 per cent."
Posted by quiet guy @ 08:21 PM (961 views)
8 thoughts on “Blanchflower’s account of how he helped us”
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dead spider says:
“It is certainly the moment for Mervyn to show leadership and rap a few knuckles for the good of us all.”
Why would he say that as he doesn’t even live in this facking country ?????
Good of “us” all ?????????
cyril says:
I’m sick of hearing from this bloke. He had his vote on the MPC and nobody took any notice of him. Aw diddums.
crunchy says:
Someone needs to explain to Danny boy that a house along with all products are good value on the purchase price not the delusional
setting of rates. Come to think of it Greenspan and a host of other financial cheats would do well to take note.
The big lesson awaits them and many others. You can’t cure a rotten tooth with a pain killer, no matter how much you hate your dentist.
Ask Simon Cowell.
crunchy says:
The setting of low rates is a precursor to money expansion. It basically means that the cash flow has ran out, inflation. Financial cheats indeed.
When they create the money they do not create the interest. Bailout money is even more interesting. A double whammy if you like.
Of course none of it engineered to preserve their futile debt based financial (paper promises) system.
The very people we pay and trust to control inflation are hell bent on creating it.
Oh Danny boy, the pipes, the pipes are calling
From glen to glen, and down the mountain side
The summer’s gone, and all the flowers are dying
‘Tis you, ’tis you must go…….. and I must bide.
braindeed says:
….. ~ ~
. { ʘ ʘ }
. ¿
.
. Ó
we’re all doomed
clockslinger says:
The New Statesman! Used to be an organ of the left, now a platform for shortar5e to tell us how he was our thwarted savior, rather than a prime author of house price inflation on the MPC. Why are these people not out there researching why no one bothers with workplace organisation anymore? Oh, hang on…it’s because, like Nu Labour generally, they are too busy browning the city folk.
wiltshire says:
On a basic level, an individual should not have that much sway over decisions which affect millions.
mander says:
This guy can’t think beyond rates cuts and now he thinks he is a hero cause finally rates have been cut.
Dave, the problem is creating too much money and not driving it wisely, cutting rates does not solve this problem it only passes it away to future generation eventually to our children.