Mindworks’ Weblog

Thinking Matters

Doom and gloom predictions at gloomiest level since records began

Posted by Andrew Cooper on February 16, 2009

graphOK, chaps – and they are all chaps, aren’t they? – we’ve got the message.  It’s going to be really bad.  But talk about laying it on with a trowel.  Seems to me that every time I check the news headlines someone or other has come out with saying something like ‘ it’s going to be much worst than everyone says it’s going to be’.   Statements of this kind have, to my knowledge, been made twice in the last 48 hours. First the CBI said it’s going to be much worse than everyone thinks and now, unbelievably, the Deputy Governor of the Bank of England is saying that the economy is ‘likely to perform much worse than the Bank of England expects’.  That’s right.  Charles Bean (I’ll avoid the obvious bean counter joke) is, according to the Guardian, saing that the economy is going to be in a worse state than the organisation of which he is deputy governor says it’s going to be.   

Extrapolating from the ‘even worse than we thought it was going to be’ announcements made over the last week, I think we can be confident that by the end of February the outlook is going to be the worst it has been since people stopped swapping sharks teeth for goods and services rendered and started using money (which, based on a quick Google was in Mesoptamia – aka Iraq – some 5,000 years ago).  

I propose that we all notify the assembled pundits, gurus, economists and bankers that we have got the message that things are worse than we can possibly imagine and that, until they inform us that the needle is nudging in the other direction, they can save their breath.


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