Friday, 19 November 2010

Wall Street Journal attacks Mervyn King

Mervyn King, governor of the Bank of England, has not been popular on this blog for several years now. He has presided over a massive debt bubble and consistently refused to take any preventive or remedial action.

However he hasn't taken much flak from the mainstream media - until now. The august and respected Wall Street Journal has turned on him, saying,
Should in a year’s time the BOE’s forecasts continue to be undershooting actual inflation as much as they have done hitherto, the market’s confidence in King and his colleagues will evaporate very quickly. The solution then won’t just be a very large and very rapid tightening of policy. It will be to replace King with someone whose reputation isn’t riddled full of holes.

Ouch! Read the full article here.

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