Thursday, 5 November 2009


The plumbers in America and the U.K. are both under the sink, mucking about. The Bank of England is on tap for today. Yesterday, the U.S. Fed announced the continuation of "exceptionally low levels of the federal funds rate for an extended period".

"The public seems to have some more confidence - they seem to have believed the talk about green shoots, but actually the data haven't really looked that way at all."

Former MPC member Professor David Blanchflower

David Blanchflower is known as as an expert in the Economics of Happiness and has published several papers on various tangents on the topic. In one study, he asserts that as the GDP goes up, happiness does not necessarily follow. But what about down? I've not found anything by him on that, but, Blanchflower is a big advocate of copious amounts of sex and a long-lasting relationship.

So. Ummm....extrapolating all that, it does appear there might be a variable that could help get the world back on its feet. Perhaps another Valentine's Day needs to be added to the calendar. Right now.

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