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So, here’s a testable prediction

A former rate-setter at the Bank of England has said investors should bet against sterling as he accused Liz Truss of pursuing “gagaland” economics.

David Blanchflower claimed the new prime minister was pursuing “disastrous economic policies” and said that “I have never in my 50 years of doing economics seen anything as bad as this”.

Given the tuberous nature of his co-campaigner I’d probably use that as proof that the pound is at bottom.

15 thoughts on “So, here’s a testable prediction”

  1. @BiND

    Futures. Effectively taking out a loan in GBP and converting it to USD (or whatever) and then using some of the USD to pay back the loan at a later date, which will cost less to do in USD if the pound has weakened in the mean time. A rather risky endeavour given the modest returns available.

  2. The things you learn on Wikipedia:

    Blanchflower and his then wife were parties in the notable case of Blanchflower v. Blanchflower. The case resulted in a landmark decision by the New Hampshire Supreme Court which ruled that sexual relations between two females, one of whom is married, does not constitute adultery because it is not technically sexual intercourse.

    Ew.

  3. Wasn’t he the one who predicted that ‘Tory austerity’ would result in millions of unemployed? And the unemployment rate actually went down instead of up?

  4. Jim – if David Blanchflower was good at predicting the future, his wife probably wouldn’t be in bed with another woman. “¯\_(ツ)_/¯”

  5. Ew.

    Come on, a bit of Sapphic action must be better than the attentions of David/Danny….

    Incidentally, Danny’s wikipedia page also contains some unsubtle boasting about his encouragement of ultra-low interest rates, which aint making him look to clever these days.

  6. There’s a certain amusement to this from his Wiki entry:

    He has been labelled a “happiness guru” for his ability to quantify the increase in happiness for individuals who are married or have sex frequently, work which has applications in divorce law and pharmaceutical advertising.

  7. How do you bet against a currency that’s already on a floating rate?
    Simples. My remunerative hobby. Spread betting. Catch the bottom, could make a nice turn on this one

  8. a bit of Sapphic action must be better than the attentions of David/Danny….

    ‘Danny’ isn’t even his middle name (which I assume is ‘Melvin’ or some other dipshit name). Makes you wonder what else the big dork’s lying about.

    He has been labelled a “happiness guru” for his ability to quantify the increase in happiness for individuals who are married or have sex frequently, work which has applications in divorce law and pharmaceutical advertising.

    So as you can see from this bar chart, Sian, you have to submit to marital intercourse with me every Wednesday around 9pm – cervical lubricants permitting – to obtain a 297% increase in our SQ (Shag Quotient) with a margin of error of +/- 18%. Sian? Sian? Why are you looking at Sandi Toksvig on your phone, Sian?

    Sian?

    Siaaaannnnnnnnnnnnnnnn!

  9. “… he accused Liz Truss of pursuing ‘gagaland’ economics.”

    Oh, good. Remember when they all accused Mrs. T. of much the same? Things are looking up.

  10. Bloke in North Dorset

    “ Futures. Effectively taking out a loan in GBP and converting it to USD (or whatever) and then using some of the USD to pay back the loan at a later date, which will cost less to do in USD if the pound has weakened in the mean time. A rather risky endeavour given the modest returns available.”

    Thanks, Matt.

    So it’s not the same as betting against the BoE directly like a black Wednesday which is what I think they want it to imply. It’s more like normal currency speculation.

  11. Well done that man David Blanchflower.
    A brilliant call – and hope he bet the farm on it as he would now have 1.1 farms.

    Maybe a weak association with Snippa isn’t a good heuristic. I suspect Snippa’s kids will turn out to be all right too.

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