I recommend King gets some Prozac, today USA housing UP, German Confidence UP, 15:20 FTSE 100 UP, S&P 500 UP, Egypt UP significantly yesterday, Euro300 UP. Yes so King is indeed in need of Prozac as this minor macro downturn will wash away as always in Q4 when everyone comes off holiday and buys. Surely he can see the pattern? Justification for QE is not present, minor recession is good for correcting bubbling commodities which stifle growth. Not doing anything now will be a boon for the recovery and deliver sustainability with jobs. QE is now a job destroyer.
FT Article: King Adds to Gloom Over UK Economy
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