A little old lady, with no formal higher education (but an immense informal one) and endowed with a great dose of simple common sense, went to the LSE and inquired nicely why it was that the best and the greatest in Economic thought had not predicted the credit crunch. As expected in this age of meaningless spin, the answer from the wisest and greatest was a fudge. ?A failure of the collective imagination?, the ?psychology of denial? etc. etc. and more meaningless words and phrases, all designed to avoid the obvious answer (we got it all terribly wrong for all the wrong reasons, perhaps). The Guardian goes on to tell us that this little old lady went on to summon the Governor of the Bank of England to inquire what he was doing to tackle the recession. More common sense in a simple question. Questions that no one who should, seems to be even asking. We all know the story of the little boy who shouted ?But the King has no clothes!!!? What a wonderful reverse of roles when it is the Queen in her despair (reflecting that of all of us) who has to ask politely, ?Just where are your clothes gentlemen? I was under the impression that you were all so fancily dressed.? What can I say? Hurrah for the Queen of England!
This was prompted by an article in the Guardian Weekly a few weeks ago informing us of the Queen’s visit to the LSE, her simple yet pertinent question and the answer you would expect from this bunch of wild eyed fanatical born again free market economist. Heaven help us!