Friday, 3 April 2009

Recessionism

Shamelessly nicked from FT Alphville.

The Governor of Sweden’s Riksbank Stefan Ingves uses art to describe the credit crunch.
Turners, Snow Storm: Steamboat off a Harbour's Mouth is the picture that paints a trillion words apparently.

He actually does a good job in describing it.

"We can compare the financial crisis to the snow storm in Turner’s painting. In order to paint the picture of the complete storm we need to begin with a layer that describes the macroeconomic preconditions, the macroeconomic landscape"

In other words the politicians and central bankers screwed up first, and layed the conditions on which the crunch occurred.

Nice of him to admit it, now will King, Helicopter Ben, and Crash Gordon himself please piss off, you are failures.

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