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Negligent, Incompetent Moron Mervyn King wrong yet again
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Nobody needs to rant about him benefitting from failing to meet inflation targets. Surely failing for 2 or 3 years in a row is enough to get him the boot? If he wasn't up to it then he should have resigned ages ago or not even taken up the post. That is the problem with this country - there are far too many of his ilk in the financial industry scrounging off the rest of us.
I doubt there is anyone in the world who could have achieved the boe's inflation target within the economic conditions of the last few years. How would you have managed it?0 -
chewmylegoff wrote: »I doubt there is anyone in the world who could have achieved the boe's inflation target within the economic conditions of the last few years. How would you have managed it?
Germany have kept inflation under control for the last 30 years. It is the primary task of their central bank who take it very seriously. They seem to have done alright with it.0 -
When governments are in trouble, savings and pension funds are always an easy target. I don't know why you're blaming Mervyn King for government policy. He's only the Treasury's lackey.grizzly1911 wrote: »Unfortunately in doing so he is wrecking the futures of many who have been personally prudent."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
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So when were things ever what they're supposed to be?Thought BoE was supposed to be independent."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
So King is in effect being a bit iffy by not publicising that the BoE are not independent from the treasury.0
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When governments are in trouble, savings and pension funds are always an easy target. I don't know why you're blaming Mervyn King for government policy. He's only the Treasury's lackey.
Accept he is their puppet, perhaps he would have more street cred if it made it clearer."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Managing economies is all about confidence. Meaning, it's a giant con trick. King isn't supposed to tell the unvarnished truth. And especially, he can never talk the country down.
The MPC's decisions are always signed off by the Chancellor. The Chancellor won't agree to what he doesn't like, and a public disagreement would be disastrous. So the MPC will only consider options that are acceptable to the Treasury."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
As I have already said - If it was so hard for him to achieve then he should have quit or better still not taken the job in the first place and wasted taxpayers money. Your implication is that he took the taxpayers for a ride as the task is impossible.chewmylegoff wrote: »I doubt there is anyone in the world who could have achieved the boe's inflation target within the economic conditions of the last few years. How would you have managed it?0 -
Managing economies is all about confidence. Meaning, it's a giant con trick. King isn't supposed to tell the unvarnished truth. And especially, he can never talk the country down.
The MPC's decisions are always signed off by the Chancellor. The Chancellor won't agree to what he doesn't like, and a public disagreement would be disastrous. So the MPC will only consider options that are acceptable to the Treasury.
And because so much of the public's "wealth" is now tied up in property, the public will not agree to anything that might reduce the price of their homes. Meanwhile, food, clothes, fuel can go up in price (partly due to keeping interest rates low and QE, but as long as bricks & mortar maintains it's value, J. Public is relatively happy.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0
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