Financial Foot In Mouth » Sunday Times

Lord Lawson`s Son On Lord Turner

admin — Tue, 14 Aug 2012 12:07:14 +0000

It seems possible that Dominic Lawson does not consider Lord Adair Turner to be his favoured candidate to replace Sir Mervyn King at the BoE.

In addition to the above, Mr Lawson went on to say: “Above all, we should not forget Turner`s obsessive proselytising for British membership of the euro while he was Director-General of the CBI. Given that the euro can be saved only by what Turner at the time described as the widely-held fallacy that the single currency requires a large central budget in Brussels, one might expect some humility: but that is not his style – and I doubt he sees the incongruity in applying for the job of printing billions of a currency he campaigned to abolish.”

Remind me not to get on the wrong side of Dominic Lawson.

World Economy Saved From Potential Meltdown

admin — Mon, 21 May 2012 10:05:49 +0000

The article went on to say that, according to the CEBR, the risk of a break-up of the eurozone and the implosion of the global banking system had receded, despite the continued weakness of the European economy. The CEBR had revised up its forecast for global growth from 2.5% to 2.8% and predicted a healthy 3.6% by 2015-16. Furthermore, it thought the chances of a eurozone break-up had fallen from 60% at the end of 2011 to less than one in three.

The “Sunday Times” interpreted this as adding to the growing optimism that the British economy could avoid a double-dip recession when figures for growth in the first quarter of the year were due to be released at the end of April 2012.

I want to live in the CEBR`s world economy, as the current one is far more depressing.

Timing, timing……

admin — Mon, 26 Mar 2012 10:12:38 +0000

Just when it looked safe for the bulls to come out, this exhortation for us all to fill our boots was rather spoiled by actuality. In the event, the ensuing five trading days managed to conjure up a loss of 110.67 , or 1.9 per cent, for the FTSE 100 which, in the words of the Weekend F.T., “…made its biggest weekly loss since the start of the year with mining stocks leading it lower on fears over the outlook for global growth. Fears of a lingering recession in the eurozone and poor data from the U.S. housing market left traders unwilling to move the benchmark index back towards its recent peaks”. Events, dear boy, events.