The 40% already figure annoyed me a bit but then I thought about it, valuations is the key word. His view is property is down 40% based on valuations.
He also tried to get a mention in of Morgan Kelly’s 80% prediction but was interupted by that blonde harpy.
A few months back he seemed to be rewriting his role in all of this to make it look like he was on the
good side of the debate all along. That was never going to wash, not in an age when peoples articles
and soundbites are at our fingertips forever.
After Obama’s election it seemed like every damn advertising campaign seemed to use “Yes you can” as it’s
tag line. Now after Obama’s apology we’re going to see “I screwed up”.
Jim is a clever guy to realise that given everything that’s happened “I screwed up” is just about the only way to
come out of this with any sort of reputation.
Compare it to Cowan’s feeble defence of his time as finance minister “I was acting on the best available advice.”
Now that he’s converted I’d love to hear a really detailed explaination from Jim about how he ever thought there
could be a soft landing. It seems to me the more experienced and qualified you were in the ways of economics
the more likely you were to be wrong.
Anyone who has ever run a household budget could see the problem we were creating as a nation. But economists for the most part couldn’t.
Jim, how about a book?
Dancing at the disco bumper to bumper
wait a minute…where’s me soft landing?
Good for him, He’s straight out with it, no nonsense. It is great that he’s stood up and was counted about what we did wrong and how we should fix it. We need a few more people to make the same journey and then we might just get out of this.
A very positive recent trend is a new simplicity of language in media statements. Every smart media person now knows that spin is dead, just look at GM chiefs Wagoners resignation statement. Long may it continue.
Yeah. I heard her giving out about having only paid her Stamp Duty a couple of weeks before they changed it on her. Which means she bought within 3 months of that point in time. Going by that article it would have been the latter half of 08 so she did not buy at the top of the market at least.