Sunset Sketches of a Little Country

Saturday, October 10, 2009

Printing Money Must Stop - How to be RIGHT & simultaneously WRONG

Cameron Debt Fix Called ‘Bizarre’ by Ex-BOE Officials (Update1)
Bloomberg Oct 09 09

By Gonzalo Vina and Brian Swint

Conservative leader David Cameron’s suggestion that the Bank of England end its asset purchases soon was criticized by two former central bank officials, a setback to the opposition’s effort to build credibility on the economy.

David Blanchflower, who left the bank’s Monetary Policy Committee in May, said Cameron’s speech yesterday was “bizarre” and if put into practice may tip the U.K. into a “depression.” Shamik Dhar, a former Bank of England economist, said “at best this is wrong and at worst downright dangerous.”

Without mentioning the central bank, Cameron told his party’s conference in Manchester that he opposed creating money, saying “sometime soon that will have to stop, because in the end, printing money leads to inflation.

.......snip

Cameron’s remarks about the central bank are unlikely to register with voters, though attacks on his economic credibility might, said Andrew Hawkins from ComRes Ltd., a polling company.
‘Weakest Flank’

“I don’t think people have understood Cameron’s economics and it is his weakest flank,” Hawkins said.

An example of How to be simultaneous RIGHT .... but if nobody cares/ comprehends /appreciates .... also be WRONG.