Blanchflower shows why UK economy is scr*wed (13Jun10)

David Blanchflower, ex-member of the Bank of England's monetary committee shows everyone why with people like him in the BoE, the UK economy is such a dire state. Labour and the BoE colluded to create the perfect recession, with out of control public sector spending to buy votes and cover up the UK's economic mess.

Recorded from Sky News, 13 June 2010.

Category:

News & Politics

Tags:

• David
• Blanchflower
• ex
• bank
• of
• england
• monetary
• policy
• committee
• mpc
• uk
• economy
• dire
• mess
• recession
• depression
• labour
• created

[lordhighexecutioner]

Yes, Blanchflower is the crackpot, whilst Lamont "Unemployment is a price worth paying" is a genius, right? Remember that Lamont loves unemployment and wants more of it, he said it himself in 1991.

[liarpoliticians]

@lordhighexecutioner I remember Lamont saying "he regretted nothing" (in French). However, the facts are simple, the UK has FAR too big a state, it is un-affordable, and is dragging down the private sector in paying for it.

[danrayson]

Consensus around the world, meaning the USA Fed Res agrees with him. What a fucking great source that is! Guy on left is also "perfectly happy" to transfer debts to future generations. Thanks, mmmmmate.

[quinndexter]

Self opinionated four eyed cun£. No wonder our country is up the shitter with idiots like him being in the BOE. Thank god he is in the states, spreading his bullshit to the undergraduates of the US.

[jjcale1111]

Watching this 18 months later... is very interesting.

[cisseshairdresser]

Fucking hell someone speaking sense at last!! Cutting jobs=less spending=less growth and less taxes. Any idiot knows that.

Double-dip could still happen.

[tothemax01]

Lol 5:22 "Consensus" around the world apparently means 'a bunch of keynesians believe this'. And apparently the best way to become a Professor of economics is to be as economically incorrect as possible. In fact, if you are wrong enough, you can win a Nobel prize! (Krugman)

[arthur1411]

Danny Blanchflower = World class footballer.

David Blanchflower = Marxist moron.

- Double dip dickhead?

Where are you know?

[mousehead2000]

@lordhighexecutioner who cares what either of them say? they were both batting for the same team anyway.

[CHEESYhairyGASH]

ok, what is the difference between "debt to gdp ratio" (circa 44%) and "deficit to gdp ratio" (circa11-12.5%)?

what do these terms mean?

[lordhighexecutioner]

Lamont should understand that Japan has a far higher debt to GDP ratio than Greece or any of those places, has so for years, their interest rates are still very low. Japan has its own currency as does the UK. Greece's problem is that it doesn't issue its own currency and as such default is possible, the UK cannot default.

[dfjpr]

What we're discussing here is who's going to be the "patsy" to get into debt so the other can get out.

a) public sector takes on debt & private gets out,

b) public refuses & private wallows in debt

The foundation of the problem as I see it is that too much of our money-supply today is debt, and the government will need tyo monetize some of its debt so that more of the money in the economy consists of equity rather than debt, otherwise we will all be stuck with too much deb & can't get ridt.