Quote:
Originally Posted by Ignitionnet
Best have Merv the Swerve crank up the printing presses again, clearly £325 billion created money isn't enough and we need more, after all it's working so well...
Main cause behind this is a big drop in construction, again. Construction should be the cure, not the disease.
Time for a massive cabinet reshuffle, bring in some people who actually spend some of their time in the real world.
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Good find with the HSBC analyst's view on QE. Thanks. In a world where there is no such thing as a free lunch we paid for QE with a cliff face drop on the value of Sterling against major currency pairs. We will pay that price ad infinitum as the extra paper issued devalues just like a company issuing new shares. Imports such as fuel and energy which are traded in dollars have taken a hit which costs everyone of us, big time.
If there was any element of doubt that we are in a secular recession which almost invariably is compromised of two more common cyclical recessions with an anaemic recovery in between, it is now confirmed. Historically the second down cycle in secular recessions highlights and compounds the political folly attempted to ameliorate the first and second parts and forces an often extremely unpalatable solution.
Re-arranging the deck chairs (cabinet re-shuffle) will resolve nothing because the concept of trying the Canadian model for recovery a global downturn could never work and will not. The flaw in thinking was wrong in the last election run up, is wrong now and will continue to be wrong and new players, playing the same tune will not help.
The think, sadly that due to the folly of the out of touch rich boys at the helm, it will be a long time before Britain is great again.