Originally posted by sasguru
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QE puts UK in 'better position than Germany'
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Originally posted by OwlHoot View PostDo they have polys in Russia?Comment
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Originally posted by Doggy Styles View PostI doubt someone clueless could rise to become governer of the Bank of England.
He serves as an inspiration to all sasguru's of this worldComment
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Originally posted by Doggy Styles View PostI wondered because, although a politician or even a contractor can go a long way without much of a clue about finance, I doubt someone clueless could rise to become governer of the Bank of England.
And the little bit about bending over to the banks.McCoy: "Medical men are trained in logic."
Spock: "Trained? Judging from you, I would have guessed it was trial and error."Comment
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Originally posted by AtW View PostIt was Oxbridge educated chaps who got this country into this mess though
So your statement above is yet another example of Poly-style non-thinking.Hard Brexit now!
#prayfornodealComment
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Originally posted by sasguru View PostGordon Brown didn't go to Oxbridge. AFAIK the people who packaged sub-prime mortgages didn't go to Oxbridge, as they were invented in the US. And not sure how many banking bosses were Oxbridge educated.
So your statement above is yet another example of Poly-style non-thinking.
"King's College and St John's College, Cambridge; Harvard University"
Mervyn King (economist) - Wikipedia, the free encyclopediaComment
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Originally posted by AtW View PostSir Merv did -
"King's College and St John's College, Cambridge; Harvard University"
Mervyn King (economist) - Wikipedia, the free encyclopedia
So much so that the ECB recently copied him by flooding the banking system with cheap money.
In actual fact AtW, in economic terms, anyone takng the opposite view to the one you take will be right.Last edited by sasguru; 12 February 2012, 15:42.Hard Brexit now!
#prayfornodealComment
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Originally posted by sasguru View PostSo much so that the ECB recently copied him by flooding the banking system with cheap money.Comment
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Originally posted by AtW View PostSir Merv did -
"King's College and St John's College, Cambridge; Harvard University"
Mervyn King (economist) - Wikipedia, the free encyclopedia
In fact, if you'd been paying attention, you'd know that the credit crunch occurred years after the Bank of England was relieved of its most of its responsibilities in that direction.Comment
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Originally posted by Doggy Styles View PostBut Mervyn King wasn't one of those who caused the problem.
BoE was responsible for setting up interest rates - nothing stopped Sir Merv to increase them when rampart house price inflation was taking place to moderate demand and prevent bubble from forming up.
He may not have been able to stop banks buying up "Triple AAA" rated subprime tulip but he sure as heck had all the tools necessary to avoid house price boom in this country.
To do that he only needed to be:
a) truly independent
b) place long term interests of the country higher than his ownComment
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