World facing worst financial crisis in history, Bank of England Governor says

Worl d facing worst financial crisis in history, Bank of England Governor says

Sir Mervyn King was speaking after the decision by the Bank’s Monetary Policy Committee to put £75billion of newly created money into the economy in a desperate effort to stave off a new credit crisis and a UK recession.

Economists said the Bank’s decision to resume its quantitative easing [QE], or asset purchase programme, showed it was increasingly fearful for the economy, and predicted more such moves ahead.

Sir Mervyn said the Bank had been driven by growing signs of a global economic disaster.

“This is the most serious financial crisis we’ve seen, at least since the 1930s, if not ever. We’re having to deal with very unusual circumstances, but to act calmly to this and to do the right thing.”

Everyday...more pronouncements of doom.



See also:
Prophets Of Doom: 12 Shocking Quotes From Insiders About The Horrific Economic Crisis Almost Here

S/F. It's one thing to hear talking heads or bloggers say this. It's a very different thing to hear a man with his duties and responsibilities. It would be like the difference between a new ATS user saying Elenin is back and heading right for us.....and NASA declaring a press conference to say the same thing. Now perhaps people will start to realize the math here is cold, brutal and inescapable.

reply to post by loam

“This is the most serious financial crisis we’ve seen, at least since the 1930s, if not ever. We’re having to deal with very unusual circumstances, but to act calmly to this and to do the right thing.”

Let me get this straight.
This is a quote from the "King" of The Bank of England??

Looks like he is looking for help from above.
UH OH.
Not good...not good at all

You know what, I am so sick of this now.

In my opinion it is only right to let all the countries that are so severe in debt to just take a punt and go for bankruptcy. Let's all just take it in the chin and start over again, new.

Someone already started a thread on this on this forum.

Though your thread does capture that 'mintie moment' with the BoE's facial expression there - as a pic does often tell a thousand words.

The Great Hargeisa Goat Bubble

Originally posted by ThorsBrother
You know what, I am so sick of this now.

In my opinion it is only right to let all the countries that are so severe in debt to just take a punt and go for bankruptcy. Let's all just take it in the chin and start over again, new.

What worries me is that 'we' always seem to repeat our mistakes over and over - even if we do reset, allow things to naturally settle and when the dust clears and we crawl out of our bunkers try some new world order, its always based on a mistake made previously. I'm constantly looking, waiting for a new idea, just something that is really innovative, but hear the same old same old ...

The Great Hargeisa Goat Bubble sums it up perfectly for me ... enjoy !

The Great Hargeisa Goat Bubble