Monday, 13 June 2011
Bank of England tracks Google - what will they find?
Interestingly, they have decided they need to use google and Internet search algorithms to try and understand more about the state of the UK economy. How sweet, it seems that it you type in 'Cityunslicker, Bank of England' you get plenty of information to work with, perhaps they can start here?
More importantly, they point being made by the Bank is that they are struggling to get accurate information on the UK economy which is up to date. This is what happens when you print a few hundred billion pounds and reduce interest rates to zero - having previously had to bail out your broken financial system. After all that, there now appear distortions that make predictions hard - how unpredictable!