Gordon ignores Bank of England

[Ruprect]

Yes but if the inflation calculation includes house prices, inflation would have been higher, therefore interest rates are raised, therefore borrowing goes down and saving goes up.
which puts the uk in a better postion to ride the storm.
isn't that the way its supposed to work ?

Ah, but doing it that way means that the magic 2% inflation target is never met and the government looks bad. [Also, doing it that way, we're already in deflation.]

[Ruprect]

The mash's take on it:

http://www.thedailymash.co.uk/news/b...-200903251663/

Mr King's comments have put him on a collision course with prime minister Gordon Brown who last night insisted the Great Money Forest of Hampshire would soon be in bloom, promising a bumper harvest of ripe, crisp tenners.

Mr King told a committee of MPs yesterday: "If anyone is still inclined to agree with the prime minister's magical Hampshire forest theory, I would advise you to open your wallet, get out a ten pound note and read it.

"You will notice that across the top, in large, capital letters, it says 'Bank of England'. Well, I'm the boss of that.

"And if I can draw your attention to the bottom left hand corner, you will see that it's signed by someone called the 'Chief Cashier'. That's right, you've guessed it, he works for me.

"If you then turn it over you will see there is also a portrait of the eminent scientist Charles Darwin, who, if he was alive today, would undoubtedly agree with my assessment, what with him not being a complete bloody idiot."

Mr King added: "I might be persuaded to print a little bit more money later in the year so that RBS can give Sir Fred Goodwin enough cash to finally buy his own volcano, but that is absolutely it."

A Downing Street spokesman said: "Everyone in the world agrees with the prime minister that we need to keep spending loads more money - except the Conservatives. And the Bank of England. And the CBI. And the French and the Germans and the European Central bank. Look just **** off, alright?"

[PM-Junkie]

Why do some people think Brown understands finance and economics? He has a degree in history and PhD based on the history of the scottish labour party ffs - that hardly qualifies him as the expert he claims to be.

If I was one of the economists he was talking to, I would tell him to sod off and concern himself with things he can understand. I'm not entirely sure what that is though. "Lying" kinda pops in there.

[Sysman]

The government, then the house.

Indeed, I was thinking of take home pay, and you are correct.

Thinking about "tax inflation" is an interesting concept, as higher taxes will influence wage negotiations.

[Coalman]

Why do some people think Brown understands finance and economics? He has a degree in history and PhD based on the history of the scottish labour party ffs - that hardly qualifies him as the expert he claims to be.

If I was one of the economists he was talking to, I would tell him to sod off and concern himself with things he can understand. I'm not entirely sure what that is though. "Lying" kinda pops in there.

Doesn't this describe the majority of our politicians of any party though?
Thier qualifications bear no resemblance to the job they do in government.

BUT if they rely on technical experts to help shape policy the masses complain about un-elected officials.

Don't get me wrong - the snot goblin has to go and will probably be replaced by Cameron, but will they have any more relevant qualifications - whats George Osbourne's degree in?

[original PM]

the country would be much better off being run by people who did not actually want to be politicans.

What concerns me is that people who want to be politicians are power hungry egotistical dickheads whose sole reason for getting into power is self gratification and therefore any decsions made will always be with their own self interest in mind.

Let the country be run by hardworking people who are aligned to the goals of the populouse will ensure that any decsions made are for the good of the country

probably

[suityou01]

I also heard that Merv was called to see the Queen yesterday. Of the many possibilities these two spring to mind

1) The Queen telling him to get back in his box and do what Gordon tells him.

2) The Queen telling him to do what's best for the economy, hang on in there, Gordon and his cronies will be out in the summer after this nice little coup comes to pass.

[PM-Junkie]

Doesn't this describe the majority of our politicians of any party though?
Thier qualifications bear no resemblance to the job they do in government.

BUT if they rely on technical experts to help shape policy the masses complain about un-elected officials.

Don't get me wrong - the snot goblin has to go and will probably be replaced by Cameron, but will they have any more relevant qualifications - whats George Osbourne's degree in?

Excellent point...so I did a little research on the qualifications of the principle players of the two main parties:

David Cameron - philosophy, politics & economics (Oxford)
William Hague – philosophy, politics & economics (Oxford)
George Osborne – Modern History (Oxford)
Alan Duncan – philosophy, politics & economics (Oxford) then winner of the Kennedy Scholarship (Harvard), economics
Chris Grayling; History (Cambridge)
Ken Clark; Law, (Cambridge)

Gordon Brown – History (Edinburgh); PhD- History of the Scottish Labour Party (Edinburgh)
Harriet Harman – Politics (York)
David Miliband - philosophy, politics & economics (Oxford)
Alistair Darling - Law (Aberdeen)
Jacqui Smith – philosophy, politics & economics (Oxford)
Peter Mandelson - philosophy, politics & economics (Oxford)

Interesting stuff.

[Sysman]

I also heard that Merv was called to see the Queen yesterday. Of the many possibilities these two spring to mind

1) The Queen telling him to get back in his box and do what Gordon tells him.

2) The Queen telling him to do what's best for the economy, hang on in there, Gordon and his cronies will be out in the summer after this nice little coup comes to pass.

3) The Queen actually doing what we were taught in school that she could do, namely preventing a dictator from taking absolute power.

[Mich the Tester]

Excellent point...so I did a little research on the qualifications of the principle players of the two main parties:

David Cameron - philosophy, politics & economics (Oxford)
William Hague – philosophy, politics & economics (Oxford)
George Osborne – Modern History (Oxford)
Alan Duncan – philosophy, politics & economics (Oxford) then winner of the Kennedy Scholarship (Harvard), economics
Chris Grayling; History (Cambridge)
Ken Clark; Law, (Cambridge)

Gordon Brown – History (Edinburgh); PhD- History of the Scottish Labour Party (Edinburgh)
Harriet Harman – Politics (York)
David Miliband - philosophy, politics & economics (Oxford)
Alistair Darling - Law (Aberdeen)
Jacqui Smith – philosophy, politics & economics (Oxford)
Peter Mandelson - philosophy, politics & economics (Oxford)

Interesting stuff.

Mindnumbingly dull