Darling ..... out of ideas. Bring them on.

PasturesNew

Go on, give him your pennyworth
http://uk.news.yahoo.com/rtrs/20081010/tpl-uk-financial-g7-darling-20b2d2f.html

Chancellor Alistair Darling appealed on Friday for new ideas to tackle the global financial crisis, urging speedier international coordination and a shift in focus for the International Monetary Fund

WTF?_2

Cut interest rates of course!

That will fix everything.

I don't know why they don't just reduce rates to zero and then we can all live happily ever after in economic perma-boom.

mystic_trev

Sorry - Just noticed this thread, as I had started another re IR's. I reckon they'll be another coordinated reduction in the next week.

steadysaver

I like the Zimbarbwe model...... lets inflate our way out of it.

I always wondered what it would be like to be payed £1 million a week :rolleyes:

Sir_Humphrey

Nouriel Roubini has a load of good suggestions on his blog.

http://www.rgemonitor.com/blog/roubini

- another rapid round of policy rate cuts of the order of at least 150 basis points on average globally;

- a temporary blanket guarantee of all deposits while a triage between insolvent financial institutions that need to be shut down and distressed but solvent institutions that need to be partially nationalized with injections of public capital is made;

- a rapid reduction of the debt burden of insolvent households preceded by a temporary freeze on all foreclosures;

- massive and unlimited provision of liquidity to solvent financial institutions;

- public provision of credit to the solvent parts of the corporate sector to avoid a short-term debt refinancing crisis for solvent but illiquid corporations and small businesses;

- a massive direct government fiscal stimulus packages that includes public works, infrastructure spending, unemployment benefits, tax rebates to lower income households and provision of grants to strapped and crunched state and local government;

- a rapid resolution of the banking problems via triage, public recapitalization of financial institutions and reduction of the debt burden of distressed households and borrowers;

- an agreement between lender and creditor countries running current account surpluses and borrowing and debtor countries running current account deficits to maintain an orderly financing of deficits and a recycling of the surpluses of creditors to avoid a disorderly adjustment of such imbalances.

He has been right so far. I suspect those suggestions will give a lot of people here kittens though.

EDIT: I'll believe the hyperinflation nutters when I get a 200% pay rise.

chewmylegoff

here's some suggestions:

1) cut all the waste out of government and public sector institutions

2) cut taxes

3) reverse the cut in interest rates

Sir_Humphrey

chewmylegoff wrote: »

here's some suggestions:

1) cut all the waste out of government and public sector institutions

2) cut taxes

3) reverse the cut in interest rates

Yes, that's right, let's increase unemployment.

Idiot.

steadysaver

!!!!!!? wrote: »

Cut interest rates of course!

That will fix everything.

I don't know why they don't just reduce rates to zero and then we can all live happily ever after in economic perma-boom.

Did this work for the japanese economy? Whats the deal with their low low rates?

chewmylegoff

Sir_Humphrey wrote: »

Yes, that's right, let's increase unemployment.

Idiot.

yes, too right. get it over and done with, rather than letting things limp on and fail eventually.

and get all the morons out of the public sector who do no work and soak up money, whilst creating enormous future civil service pension liabilities.

neverdespairgirl

I've got a great idea - double gin and tonic for me, please.

Sir_Humphrey

chewmylegoff wrote: »

yes, too right. get it over and done with, rather than letting things limp on and fail eventually.

and get all the morons out of the public sector who do no work and soak up money, whilst creating enormous future civil service pension liabilities.

People who soak up money and do not work are called the unemployed, dumbkoff.