UWS Government Publications Blog

Sorry to bang on about the economy but if it’s in the news then I like to pop it on here:

The Old Lady of Threadneedle Street (how quaint) issued its quarterly bulletin today. Do I really need to tell you that it’s not exactly a P.D. Wodehouse novel?

“The instability of the global financial system was accompanied by a significant deterioration in the global economic outlook and increased investor risk aversion. Consensus forecasts for economic growth were revised sharply lower in both major and emerging economies. The majority of asset prices fell and there were large increases in realised volatilities and also implied volatilities derived from option prices across markets. This asset price volatility also increased the pressure on many financial institutions to reduce the size of their trading positions in order to conserve capital.”

Or…

“Pip, pip, Jeeves,” grumbled Bertie, “the shares in HBOS that Aunt Agatha left me aren’t worth a rubber button. I’m ashamed to say that I’m potless, old man!”

“Very good, sir,” opined the trusted man-servant, as he put on his hat and called for the driver, “I’m off then. You can brush your own teeth.”