What’s he trying to say?


Michael Winning

As Bernard Levin once said : “it’s not what they say, its the way they can’t say it”. The fellow in charge of the Bank of England is trailing something bad which smells, but I can’t quite see what. Can any of you?

Me, I can’t see why we have to pay for the deliberate policy decisions (=mistakes) of our erstwhile leaders. Cameron had a golden opportunity about 2 years ago, he could have said as the Boss says sometimes, “we will not underwrite any more bonds or gilts taken out by the government after midnight, until we are elected” or something like that, but he didnt. Then at lest it would not have gone over a trillion, and something could have been done.

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4 responses to “What’s he trying to say?

  1. Cameron wouldn’t say that because he, like Balls and the Labour Party, and like the Bank of Idiots, believes that the State leads the economy, so reducing the deficit is an unfortunate necessary evil at the moment, but you have to balance that against the imagianary harm it will cause by reducing “spending”.

    There isn’t a single free marketeer or classical economist in the corridors of power. THey all believe that government spending boosts and sustains the economy. So to them, it’s always a balancing act; spending enough without overborrowing.

    They see the world fundamentally differently to us. They want to spend, and not being able to is disappointing and frustrating. They all believe that if they could find a way to spend 10 trillions a year on “public works”, utopia would arrive. It’s no use wondering why Cameroon didn’t try to put a brake on that. He’s a Keynesian mercantilist, like all the rest of the bastards.

  2. I was in conversation with an employee of the HALIFAX yesterday evening conducting on line telephone business, and when I accused the Directors of the Bank of Scotland of being crooks and shysters while they enjoyed big bonuses while screwing their customers by charging massive amounts of interest on loans and credit cards. On saying this , I was corrected by the man who said “Oh no sir, you mean the ROYAL Bank of Scotland.”

  3. I think he is trying to say

    ‘oh dear, the economy is much worse than the politicians are saying it is, i know one one is paying any attention to me now, but please don’t blame me when it all goes wrong’

  4. Christopher Houseman

    I agree with C H Ingoldby. I’d also add that Mervyn King:
    – is trying to show certain of the out-of-touch rich the reality of the recession that’s crushing so many ordinary people, and
    – is grievously mistaken if he thinks that, in the event of a complete economic meltdown, Cameron and Clegg will fall on their swords before “inviting” him to do so.