Thursday, 29 November 2007

Simon Johnson and the perfect storm

I'm afraid yet another doom merchant has crawled out of the woodwork. This time it is Simon Johnson from the International Monetary Fund. He is the chief economist at the IMF and he reckons there will be a perfect storm of a recession next year - due to the credit crunch and high oil prices.

Enough already! Alan Greenspan, George Soros, Teun Draaisma - how many more professional pessimists are going to jump on the bandwagon? And why did Mr Johnson use the phrase 'perfect storm'? He obviously wanted a catchy phrase that would make it into the papers.

Well, I'm so angry about this that I'm not even going to consult Magnus's Book of Money Curses. This is from my own pen -

O you doom merchants, you money men of little faith, of little hope, the day of the great reckoning will soon be at hand, and to whom will you run crying then, with your miserable forecasts of disaster? Behold the money king! I will live in your darkest nightmares in the darkest nights. O you fools, you unbelievers, Big Herb will turn against you, and then where will you be? In the pit! In the pit of despair you will fester and wail and gnash your teeth. I call on Big Herb the money god, I call on all the lords of the holy cash - throw these men into the pit!