Brown's smoke and mirrors economics!

The Daily Mail has a report this morning that one member of the Bank of England's Monetary Policy Committee foresaw the recession coming last August. As I commented to that report this does not seem much of an achievement, as readers of this blog should be well aware, I wrote: Considering that the credit crunch had been underway for a year in August 2008 this says little for Mr Blanchflower while confirming The Governor and rest of the MPC and Treasury are gross incompetents. In August 2007 I blogged on 'Ironies Too' the following: " 'Britain's economic abyss' After months of disputation with the UK Inland Revenue over money of mine they refused to return, some of which they sit upon to this day, I realised that the UK Treasury were in extremely dire straits after the past ten plus years of Brown's smoke and mirrors." It is all in the Blog's Archives, warning after warning and on 'Ironies' since February 2003." Gruesome reminder for me, as naturally enough it brought home the fact that I never recovered the balance, which at any rate by now has become virtually worthless, ah well at least I got the the money actually sent safely out of sterling before the main collapse began! Unlike my decimated pension fund! That same posting, linked here, although I did not quote this section to the Daily Mail, concluded as follows: Until some major casualties are allowed to reap the consequences of their profligacy the final crunch will just be that much worse. The same problem continues to this day and no doubt will do so even after this week's budget.