According to former BofE Governor, the European Depression Was A "Deliberate" Act

[Hobosapien]

Wound up over the govermin sockpuppets. They're all the same as Comical Ali.

[AtW]

Mervyn King =

Yeah, I thought that and insulted him a lot on here and for that I'd like to apologise

I've realised the error of my ways after witnessing what Carney is doing

[BrilloPad]

Quite. A complacent mediocrity who's now bitter.

UK recession in 1980: What was it like? - Telegraph

The Budget sparked fury among economists, 364 of whom penned a letter to The Times demanding that a different course be taken, along the lines of a Keynesian style approach where spending would be increased to boost the economy. One of the signatories was Mervyn King, then an economics lecturer at Birmnigham University, now the Governor of the Bank of England.

Is the sort of person we should be listening to?

I suppose he will sell more copies of his book by writing nonsense.

[shaunbhoy]

Feck me when God handed out brains, I think he got tired towards the end and gave out blancmange by mistake.

Undoubtedly, but in your defence, few have made better use of their blancmange than you. Particularly when one considers the stringent parsimony displayed when your portion was being doled out.

[sasguru]

Mervyn King =

Quite. A complacent mediocrity who's now bitter.

[BrilloPad]

Mervyn King =

[sasguru]

Still fancy voting to stay in the EU, Sas you smug complacent twit?

No you're right, I'll think I'll change my position because of some hysterical conspiracy theory on a dodgy website.

Feck me when God handed out brains, I think he got tired towards the end and gave out blancmange by mistake.

[OwlHoot]

2016-03-02 Striking Admission By Former Bank Of England Head: The European Depression Was A "Deliberate" Act

Once again we find that it is only after they leave their official posts that central bankers finally tell the truth.

Last night, it was Alan Greenspan who blasted the state of the economy, saying that "we’re in trouble basically because productivity is dead in the water" and when asked if he is optimistic going forward, Greenspan replied "no, I haven't been for quite a while."

Then on Sunday, the former head of the BOE, Mervyn King, warned that another aspect of the global economy, namely the financial system whose structural problems remain untouched since the financial crisis have been untouched, is "certain to have another crisis."

To be sure, warnings by former central bankers who are more responsible about the current global mess sound as nothing but revisionist bulltulip. And yet, it was what King said today at the launch of his new book that left us surprised.

As the Telegraph reports today, according to the former head of the Bank of England Europe's economic depression "is the result of "deliberate" policy choices made by EU elites. Mervyn King continued his scathing assault on Europe's economic and monetary union, having predicted the beleaguered currency zone will need to be dismantled to free its weakest members from unremitting austerity and record levels of unemployment.

:::

Recall what then-AIG Banque's strategist Bernard Connolly said in response to the rhetorical question of "What Europe wants"

To use global issues as excuses to extend its power:

* environmental issues: increase control over member countries; advance idea of global governance

* terrorism: use excuse for greater control over police and judicial issues; increase extent of surveillance

* global financial crisis: kill two birds (free market; Anglo-Saxon economies) with one stone (Europe-wide regulator; attempts at global financial governance)

* EMU: create a crisis to force introduction of “European economic government”

The tragedy for Europe is that it has all panned out just as Europe's unelected, ruling oligarchy as expected, and while we should congratulate Brussels which has managed to not only preserve but solidify its power, it now rules over a decaying, economically insolvent continent, with an entire generation left unemployed, with millions of refugees scrambling to get in, and with Europe's cultural "integration" back to levels not seen in decades.

Still fancy voting to stay in the EU, Sas you smug complacent twit?