Knighthood for King headline.

talexuser

Mervyn King has been knighted for his services of overseeing the economy so successfully for the past years and sticking so closely to his remit on inflation.

brian_723

Is this some kind of joke or what .

talexuser

Nope, it tells you everything you need to know about "plenty of reward for failure" Britain today.

Kohoutek

talexuser wrote: »

Nope, it tells you everything you need to know about "plenty of reward for failure" Britain today.

How do you think Mervyn King should have done things differently, given that the UK economy is in weak shape and inflation has been caused by global commodity price movements of late?

Sceptic001

A cynic might argue that wiping billions off the National debt by allowing inflation to let rip and sterling to sink is a kind of service to the nation. As a mere sceptic, I couldn't possibly comment.

JamesU

Sceptic001 wrote: »

A cynic might argue that wiping billions off the National debt by allowing inflation to let rip and sterling to sink is a kind of service to the nation.

Look on the bright side, if Mervin King is obliged to maintain inflation in the national interest, at least this does not effect him personally. His pension and all other BoE staff pensions will remain protected by indexation to RPI. You can take some comfort from that.

http://www.efinancialnews.com/story/2011-05-31/bank-of-england-pensioners-escape-inflation-cut

http://blogs.wsj.com/source/2011/06/01/bank-of-england%E2%80%99s-pensioners-escape-inflation-cut/?mod=WSJBlog&mod=WSJ_source_blog

JamesU

patman99

Would everyone have preferred the Labour Govt. to have not cut the B of E free from Govt. control?. If it were still controlled by HM Govt., the base interest rate would be somewhat higher than it is today.

I remember Maggot Thatcher's Govt. miss-managing the economy so badly that by 1990 interest rates were at 17%.

Dodgy Dave is just letting the BofE get on with it without interference from his brain-dead bunch of clueless half-wits.

Give it a couple of years, and our economy will start to improve.

gozomark

Sceptic001 wrote: »

A cynic might argue that wiping billions off the National debt by allowing inflation to let rip and sterling to sink is a kind of service to the nation. As a mere sceptic, I couldn't possibly comment.

If sterling hadn't dropped the economy would have been in a much, much worse situation than it is.

theGrinch

Queenie must think its all dandy and rosy in the UK garden. I guess she isn,t down to her last piece of chocolate cake.

talexuser

Kohoutek wrote: »

How do you think Mervyn King should have done things differently, given that the UK economy is in weak shape and inflation has been caused by global commodity price movements of late?

Well, we've had leaks today that civil servants were warning Brown about the level of debt before the financial crisis, maybe he could have spoken out in the interest of the country rather than look after his own job. And was he not responsible for BCCI oversight when deputy governor? The BoE later "conceded regulatory c-ck-up bordering on negligence" quote.

I said at the time that was hardly the qualification for him to get the top job after George.

Milarky

So how do we address him - as ''Sir Mervyn'', or as ''SMerv''? You just have to hear that to realise this is merely a stepping stone to ''Lord King".