Blanchflower leaves MPC. Vindicated ?

[BOR]

So, after banging his head against the wall for so long, the rest of the MPC have finally "+1" his position on rate cuts.

Do you think he'll say "I told you so" as he goes out the door for the final time ? I'm disappointed that he's leaving, as he seems to be the one bloke who has any idea on the right direction and the right timing for rate cuts/rises.

So, Danny Blanchflower, hero or zero (percent) ?

[Tony*T3]

HERO

Perhaps you meant David BlanchFlower...?

Edited by Tony*T3 on Thursday 11th December 09:36

Edited by Tony*T3 on Thursday 11th December 09:37

[scotal]

BOR said:

So, after banging his head against the wall for so long, the rest of the MPC have finally "+1" his position on rate cuts.

Do you think he'll say "I told you so" as he goes out the door for the final time ? I'm disappointed that he's leaving, as he seems to be the one bloke who has any idea on the right direction and the right timing for rate cuts/rises.

So, Danny Blanchflower, hero or zero (percent) ?

Danny was a total hero, but then he was a Spurs player. "The gamer is about glory, about doing things with style"
David Blanchflower went against the MPC in the face of inflation for a long time. He can feel pretty smug at the moment, but then in a few years we may all look back on this and pray that the MPC had done things differently.

[NoelWatson]

Zero. he should've been voting for raises in 2006 to try and deflate the housing bubble before it burst.

http://www.bankofengland.co.uk/monetarypolicy/mpcv...

[BOR]

NoelWatson said:

Zero. he should've been voting for raises in 2006 to try and deflate the housing bubble before it burst.

OK.True.

[Fittster]

Worse than 0, destoryed the currency and didn't prevent a downturn. A man who learnt nothing from the example of Japan.

[BOR]

anonymous said:

[redacted]

Was he really under Brown's thumb ? He seems like an independent mind.

[oyster]

Fittster said:

Worse than 0, destoryed the currency and didn't prevent a downturn. A man who learnt nothing from the example of Japan.

bks, Gordon Brown did most of that.

Blanchflower was just 1/9th of just one part of the UK economic decision making.

In 2006 and early 07 he was wrong.
In early 2008 he was very right indeed. To think that less than 3 months ago the base rate in this country was 5% is incredible - what on earth was the MPC doing?

[JagLover]

anonymous said:

[redacted]

+1

[2something]

JagLover said:

anonymous said:

[redacted]

+1

What he said.

[smack]

I'm behind Tonks on this one – Blanchflower was appointed to the MPC by the Chancellor, who at the time was Brown. For years he has been voting for cuts when the economy was akin to a runaway train. That deified sensible economic logic. Know the train has crashed, he is trying to say he was right… err, ok.

[smack]

Peston, can’t even get it right in his blog:

http://www.bbc.co.uk/blogs/thereporters/robertpest...

Robert Peston said:

However, on the MPC itself, Danny Blanchflower was a lone voice arguing that the inflationary risks were much smaller than the deflationary pressures of an economy slowing down fast

[scotal]

smack said:

Peston, can’t even get it right in his blog:

http://www.bbc.co.uk/blogs/thereporters/robertpest...

Robert Peston said:

However, on the MPC itself, Danny Blanchflower was a lone voice arguing that the inflationary risks were much smaller than the deflationary pressures of an economy slowing down fast

And this guy is a serious commentator... thank you for that.....