Friday, February 8, 2013

The last thing the UK needs is a technocrat

Mark Carney © fintag

News comments:
As much as Mervyn King was Bernanke's bitch, the new man Carney is looking for a new bitch called Boy .

Mark Carney, who has more facial expression than Jim Carrey, is on a mission in his new role as Bank of England guv. Given his trader like pay package it is clear he wants to be able to trade the UK balance sheet with gimmicks and ideas and get GBP into the trenches. Unlike King who pulled the printing presses with his right hand and interest rates with his left, Carrey wants to use his feet to tweak unemployment, growth and probably taxes too.

Boy George as we have seen in the last few years is way out of his depth so maybe its a good idea succumbing to become Carney's bitch. Having listened to Carrey yesterday, Carney appears to be a technocrat of the highest order. Draghi would be proud. Unelected too.

So will Carney be nominated for an Oscar or a rotten tomato?

Time will tell (my money is on the vegetable)...

Today's shorts:
EU expense accounts maxed out (reuters)

Bank of England to start libor rigging (reuters)

Today's longs:
Carney to start the GBP currency war (zerohedge)

Carney to move into number 11 Downing Street.