That Slippery Sliding Slope

Yahoo! reports: Bank of England says Britain in 'deep recession'.

The head of the Bank of England said Wednesday that Britain was in a "deep recession" that would require further easing of monetary policy, including expanding the money supply.

"The UK economy is in a deep recession," bank Governor Mervyn King said at a news conference, who also gave his clearest sign yet that the Bank of England was ready to in effect print money to get the economy going again.

First, they were in a "slowdown"; then a "recession"; now it's a "deep recession".

By the time, they acknowledge that it's a flat-out "depression", it will be over.

Oh, and the money printing will fail.

What would you do if you were a Briton and had considerable savings? Move it into some other currency, most likely, the Yen. Or commodities. Or even gold.

You can't force people to spend if they don't want to.

Dumb and dumber, that's the problem with the central bankers!