Everything is ‘Better Than You Expected’, Blanchflower

David Blanchflower, Gordon Brown’s favourite former appointee to the Bank of England’s Monetary Policy Committee, has come as close as his arrogance allows him to admitting he was totally wrong about everything. Back in 2009 the out-of-luck economist gazed into his faulty crystal ball and predicted that unemployment would top 5 million if the Tories came into power. In 2010 he forecast that unemployment would surge past 3 million to 3.4 million and in 2012 he predicted unemployment would go up the day before it dipped below 8%. So today’s painful admission that UK unemployment is ‘falling surprisingly fast’, which ‘is welcome good news and better than I had expected’, is a bit of an understatement. Better than expected… to the tune of millions of jobs.

 


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