25 November 2015

Quote of the day

The Governor of the Bank of England testifies to the Treasury Select Committee (here):
Carney could well be the first art installation to get the top job at the Bank of England. Ever since he took over more than two years ago he has managed to get almost every prediction wrong while doing as little as possible other than to say that, after careful reflection, he has concluded interest rates should stay exactly the same for another few months. Mogadon “Mañana” Mark is a miracle of economic and comic genius by always being right at the same time as always being wrong. A contradiction of creative nihilism.
Nothing fazes Mogadon “Mañana” Mark, for whom life is one long, unhurried green ski run just outside Calgary; not even the Conservative Steve Baker, enquiring why inflation was so much lower than he had anticipated.
“Therearepotentiallycontradictingtimehorizons,” Carney said, for a moment coming over all Captain Kirk. What you had to understand, man, was that the economy was, like, really heavy and operated on its own space-time continuum.

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