Quantitative easing

A tale of two experts

Congdon versus Halligan, Quantitative Easing, who's right?

Tim Congdon Tim Congdon
The problem here is that the position we have taken in the past with 'experts'is to condemn them. The experts who predict our imminent demise due to climate change are cheats and, it would appear, do this for some very strange reasons. But the subject under the spotlight here is economics. So this is not so much a condemnation as an analysis.

First of all Tim Congdon is a eurosceptic, he's no lightweight either. Unlike many politicians who have no life/work experience outside of the Westminster bubble, Congdon has worked in the City of London as an economist. He formed his own company, Lombard Street Research, to offer in-depth economic data to interested parties. He has also been an academic and part of the HM Treasury's panel of independent economic forecasters. He is perhaps more of an economist than a journalist.

Liam Halligan is also a eurosceptic who has worked and strayed beyond the Westminster boundary. He has worked in Moscow as the co-founder of an economics data organisation. After some time he returned to the UK to work as an economics correspondent for TV and numerous newspapers. However, there's more to life than opinions and Halligan co-founded Prosperity Capital Management, eventually to become its Chief Economist.

Let's pretend

Leave the big questions till later

Your future and oursYour future and ours
Gordon Brown has decided to pretend he's Tony Blair. Remember "Tough on crime and tough on the causes of crime"? When Blair trotted that one out he did it with eyes like dinner plates and a spooky manner that was supposed to indicate passion and concern. Actually what most people remember is Rory Bremner taking him off, the whole thing was ridiculous; but that won't put Brown off! Brown is in a hole and digging furiously. Whatever the result this election can only be a crushing defeat when we remember their majority of over 200, following the 1997 election. So he has come up with a diversion, talking about crime, telling half truths about CCTV and DNA retention.

The unelected Deputy Prime Minister is, as we know, always keen to help. He has started talking about Lord Ashcroft. Mandy is keen to suggest that Ashcroft represents some 'foreign' influence on UK politics. It is said that Mandy cannot criticise the euro or any aspect of the attempts to bail out the Greek economy as his EU pension might be affected. So foreign influence, it all depends what you want it to mean! Also Mandy will be happy to keep quiet about the UK economy too.

The reason for the diversion from Brown and Mandelson is to deflect attention away from the falling pound and the possible outcomes.

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