Thursday 10 September 2009

Recovery talk is meaningless to the man with his P45 in the post

Telegraph
"Unemployment is the only indicator that counts when it comes to confidence, ....
The British economy, I'm afraid, is beginning to resemble a raging junkie, craving regular fixes of quantitative easing and fiscal stimulus. No sooner do Mervyn King and Alistair Darling administer the drugs than the patient screams for more.Just like painkillers, when policy medication is dished out too generously, it transmutes from pacifier to problem. At a recent high of $1,000 an ounce, the gold price is telling us what this problem might be – inflation."

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