egafd.com

Has issued his latest prophecy of doom. He slashes growth forecasts to around 0pc.
"King says UK will get back to growth rates seen before credit crisis but it will take time to acheive this." !deadhorse!


How long is that then Merve? 1, 3, 5 10 years or don't you have a fucking clue?

Paid ?300,000 a year to issue a vague statement. I get the impression he's stumbling about in the dark. How about some more Quantitative easing? Rob the pensioners and give some more to the banks. We are fucked

It's comforting to believe that people know what they're doing. I'm not convinced they do.

In hindsight it can appear that there was a strategy, but at the time it appears chaotic.

'If you're not confused you don't know what's going on'.

Yes, this is the very same Mervyn King who was face down in the lobster soup when the banking collapse was brewing, having a nap when the Americans told him that some of the UK banks were fiddling the libor rate, and trying to get an inflation rate forecast right for once in his lifetime while UK banks carried out money laundering activities for Mexican drug barons and Iranian terrorists.

The sooner this dead leg goes the better.

I don't know who writes Mervyn's scripts but it is like being in the middle of some episode of CBeebies. Take these wonderful examples

"We are navigating rough waters and storm clouds continue to roll in from the euro area," he added. Unlike the Olympians who have thrilled us over the past fortnight, our economy has not yet reached full fitness."

I think I'm going to have a bash at writing some of this stuff and drop Mervyn a line offering my speech writing services e.g.

The British economy is currently a "Holly Bleasdale" compared to the USA's "Michael Phelps". However with a fair wind and good infrastructure, the UK forecast is much improved in the long term.

"The British economy is like Ben Ainslie, up against it for nearly the entire competition, but as a result of displaying true grit and determination, coming through in the end".

Yes, I noticed the Olympic theme. We must now roll our sleeves up and cycle into the storm bollocks.
Maybe Bradley Wiggins should take over as Governor of the Bank of England?
Merve can get on his bike.
Osborne has just said that "the government now has the chance to give 110% effort" to get the economy running, now that plans to reform the House of Lords have collapsed.
110%?????? Is he making a joke or taking the piss? Only now are they going to give maximum effort?

I think,chaps, you are a little hard on Mervyn....he is supposed to offer
answers on the economy when we are not, repeat not, in a quick-fix
situation but a worldwide ruddy mess. Looking into an economic crystal
ball is not easy....He is also supposed to have some control over a banking
sector that is totally greedy and self-driven (each bank giving not a tit about
the country, or its competitors or customers just so long as those bonuses
flood in).
I am totally biased....twice I have been mistaken for Mervyn and once got
a nice table in a restaurant (I swear this is true) because the head waiter
mistook me for him ! I wonder if he gets asked if he makes porn films ?

"Osborne has just said that "the government now has the chance to give 110% effort"

110% effort? Sounds like a dozy candidate in the X Factor.

"I wonder if he gets asked if he makes porn films ?"

We'll know the answer to that when he starts talking like

"At the moment, the economy is a bit of limp dick, but by the third quarter I ainticipate it to be rock hard and thrusting".

I'm surprised you havent used your Mervyn King lookalike qualities to get some substantial bank loans. Mervyn should be good for a few quid.

Or alternatively Frank, you can see if you can get a gig opening supermarkets,

"I'm sure the meat counter sales with its rebalancing of cooked and fresh meats will be strengthening as the year goes on"

But he has been predicting growth which has given credibility to the governments plans for austerity. This prediction of growth has been wildly optimistic. We find ourselves right back where we started when labour left office and mr King has lost all credibility.

Maybe he should retire and take life easy making porn. I suppose that is a resession proof industry.

Mervyn King is a bit like a weather forecaster who has a mate in Sheffield who phones him with news of what the weather is doing there which he uses to update his forecast for the current period.

In May, King forecast a yearly 2012 growth rate of .8% Then in early July, the statistics people announced a drop in growth for the second quarter of -.7%. So along comes King in early August with an updated growth rate of 0%.

If that is forecasting, then I'm Louise Mensch. Waste of space!