I wonder just how much good Merv King is.
I mean to say, he has got every single prediction he ever made wrong. He constantly downgrades any predictions he has made about any aspect of the economy, and tonight when asked what would happen to inflation he said he thought it would come down in the New Year, but wasn't sure.
OK. I could have done all of these things and I don't get paid his massive salary, nor can I reasonably expect a seat in the House of Lords when I retire. (Actually I think it unlikely that inflation will come down much in the New Year. OK, the 2.5% VAT increase is out of the cycle, but the massive fuel price hikes are not; nor is food; nor are transport increases.)
Anyway, tonight he has told us that the hallowed banks, against whom no one is supposed to utter a word of condemnation for the almighty mess they made of the economy (or they will leave for friendlier shores), won't be able to lend money to businesses in Britain because the Eurozone crisis has left them unable to raise the cash.
But wait a minute. The banks weren't lending anyway. That's why the chancellor asked them very nicely if they would please lend some of the mass of money that we borrowed or created to keep them afloat to do their job and lend to medium and small businesses instead of taking it all in bonuses. When they said "no", you'll remember, he was obliged to set up a government fund to lend to businesses which are folding for want of a loan, even when they have orders on their books. Talk about booze ups in breweries?.
So why is it all now the fault of other countries?
With his usual vagueness Old Merv said that because of the Eurozone crisis, households, businesses and banks face an extraordinary period of uncertainty. Who knows what is going to happen tomorrow, he twittered, like some fishwife over the back yard fence!
Gives you such confidence, that he's got his hands on the wheel, doesn't it. As governor of the Bank of Britain... ooops no, sorry England, he'd make a really good bus driver.
Talking about confidence, why is Osborne so intent on talking Scotland into the ground? OK, it's a silly question and we all know perfectly well that the answer is... if you haven't got a credible true argument to put forward for something, make one up.
Businessmen are not in the least put off by a discussion of a referendum. At least I'm sure that a few who have had their ears whispered into by Cameron may be. In return for a knighthood maybe? It's actually far more likely that businessmen will be put off Britain as a whole because no one in the government or the central bank has much of a clue about what is going on.
Unlike John Swinney, who knows a thing of two about finance.
It is typical of the hapless Osborne that he chooses to disparaging remarks about confidence in Scotland just at the time that the First Minister was joining the management of Amazon to celebrate the new sites that the worldwide retailer is opening in Edinburgh and Dunfermline.
Clearly one of the most successful companies in the world is so worried about the future of Scotland that it is creating over 1,000 new jobs in the country.
This UK government, headed by a PR spin doctor, is even crap at spinning!