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Our forecasts are just about as good as Michael Fish's, admits BoE's chief economist |
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#1 |
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Join Date: Sep 2011
Posts: 1,165
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Our forecasts are just about as good as Michael Fish's, admits BoE's chief economist
Bank of England’s chief economist Andy Haldane said profession was ‘in crisis’
Said economists suffered Michael Fish moment over financial crisis and Brexit He admitted it was 'business as usual' despite the dire warnings of a recession Weatherman Mr Fish famously told viewers they would be no hurricane in 1987 Read more: http://www.dailymail.co.uk/news/arti...#ixzz4UwWrxOba Follow us: @MailOnline on Twitter | DailyMail on Facebook Hopefully this is a watershed moment. |
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#2 |
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Join Date: Nov 2001
Location: Central Belt
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It wasn't a carribean or Florida style storm in 1987. Severe gales more like.
There may have been the odd hurricane force gust in parts of the UK on the track of the storm they were slightly out in 1987 (the strongest winds clipped the UK's south coast when it was expected to be the middle of the sea between the UK and France), but not sustained hurricane force wind speeds throughout the entire storm the way it is in and around the tropics. That's no consolation to those who suffered a lot of damage to their property But in relation to Brexit, the UK has not actually left the EU. The BoE thought the UK would have started the process of leaving it hours after the result. It would have been a total disaster for the UK economy had the UK started talks to leave the EU straight away. And the process of leaving the EU is like trying to untangle a load of wires with the attached plugs plugged into a multi gang electrical socket. |
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#3 |
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Join Date: Aug 2007
Posts: 12,160
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It's funny how different media outlets spin things....
Andy Haldane: Bank of England has not changed view on negative impact of Brexit http://www.independent.co.uk/news/bu...-a7511351.html "Bank of England chief economist says pain has been delayed rather than avoided" Not even any mention of the Michael Fish comment there.... The BBC's version lies somewhere inbetween the Mail and Independent Crash was economists' 'Michael Fish' moment, says Andy Haldane http://www.bbc.co.uk/news/uk-politics-38525924 which lays emphasis more on economic predictions in general and particularly the global financial crash of 2007-09 as being the Michael Fish moment... |
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