The official "most stupid Sir Merv photo" thread

[AtW]

Bank of England boosts Mervyn King's pension by £1.4m

[TimberWolf]

[administrator]

[AtW]

[BrilloPad]

Is that a photo of when he found out inflation had actually dropped instead of continually increasing due to his economic mismanagement?

[ctdctd]

Oi - Leave Penfold alone - he's harmless.

Unlike the gentleman portrayed in the OP.....................

[MarillionFan]

Bank of England boosts Mervyn King's pension by £1.4m

"Yes!. My sofa arrived"

[sasguru]

Is that a photo of when he found out inflation had actually dropped instead of continually increasing due to his economic mismanagement?

I thought he's done quite a good job preventing a depression through quantitative easing, something his counterparts in the ECB are refusing to do.

[BrilloPad]

I thought he's done quite a good job preventing a depression through quantitative easing, something his counterparts in the ECB are refusing to do.

Strictly speaking his job is to manage the committee that keeps inflation at between 1% and 3%. He has continually underestimated inflation.

No reason why the remit could not be changed to have a target growth rate or something like that.

But if you had retired would you be happy at seeing your savings continually eroded? And its not nice either for poor families who have an effective inflation rate of closer to 10%(food and energy).

But I do agree that inflation is the only way out for Eurozone - it will buy a few more years before Eurogedden.

[sasguru]

Strictly speaking his job is to manage the committee that keeps inflation at between 1% and 3%. He has continually underestimated inflation.

No reason why the remit could not be changed to have a target growth rate or something like that.

But if you had retired would you be happy at seeing your savings continually eroded? And its not nice either for poor families who have an effective inflation rate of closer to 10%(food and energy).

But I do agree that inflation is the only way out for Eurozone - it will buy a few more years before Eurogedden.

I don't think he has underestimated inflation.
Both he and his political masters have calculated that inflation is a small price to pay to avoid a bigger conflagration. And they are probably right.
Of course he has to play the official game in public while doing simething else in reality.