“In a stark warning to politicians, [Bank of England] governor Mark Carney said a downturn was on its way and Britain was already suffering from “economic post-traumatic stress disorder”.
“He said the central bank would take “whatever action is needed to support growth”, which probably included “some monetary policy easing” in the next few months, in an attempt to reassure the markets and the general public.”
- ‘Carney ready to act’, Emily Cadman, The Financial Times (a.k.a. ‘Marxism Yesterday’), 1 July 2016.
“UK: world’s second largest external deficit. Canada: the fourth. Inflated real estate in both countries. #Carney fingerprints over the pair.”
- Tweet from @TrueSinews.
Never go full Draghi, but Mark Carney just did, pledging to do, effectively, whatever it takes. This despite the fact that Mario Draghi’s “whatever it takes” pledge was apparently an off-the-cuff line tossed at the press in desperation, at the height of the euro crisis. Future historians will no doubt look back at this period in amazement, wondering, in light of the stunning and murderous failures of Nazi Germany, Soviet Russia and Communist China, how central planning ever managed to find a last hold-out amongst the technocrats at the world’s central banks. Any search for the guilty should probably start with the governments that appointed them. (And the economist superbrains of the LSE.)
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