Friday, January 16, 2009
The end of the great stability
Posted by David Smith at 11:45 AM
Category: Thoughts and responses

A rather good speech by Sir john Gieve, deputy governor of the Bank of England, analysing the crisis, talking about the extent of the policy response but warning that not only was the fourth quarter very bad but the first quarter will be too. The Great Stability, he says, came to a shuddering halt and, for once, conventional boom did not precede the bust. The speech is here.