Douglas Carswell's Blog

Who next to run the Bank of Wrong?

Christine Lagarde was finance minister of a country that last had a budget surplus in 1972. On her watch, French public finances deteriorated further.

So we put her in charge of trying to fix Europe's debt problem as head of the IMF. The result has been more failed bailout-and-borrow.

Adair Turner, as head of the CBI, urged Britain to join the Euro - as Dominic Lawson usefully reminded us in the Sunday Times. In other words, on perhaps the biggest economic judgment call of the past thirty years, Turner proved to be hopelessly and emphatically wrong.

So I imagine he'll be a shoe in as next Governor of the Bank of England. He's almost certainly on the Chancellor's shortlist. And the result would be endless print-money-and-pray.

Being wrong about the macro economic fundamentals need not stop anyone from becoming Governor of the Bank of England. Given how hopeless the "experts'" orthodoxy, I'd say it was probably a prerequisite.

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