Belfast Telegraph

Tuesday 28 July 2015

Why should we trust these gurus?

By Lindy McDowell

Published 24/11/2011 | 08:00

Reasons to be fearful? Where would you even begin? Every time you turn on the news this weather, it's grim, grim, grim.

Should we perhaps, look to the steadying influence of Sir Mervyn King, Governor of the Bank of England, for guidance on what happens next on the economic front? Perhaps not.

Reacting to the latest eurozone crisis, Sir Merv opines: "Who knows what is going to happen tomorrow, let alone next month?"

If it's certainty you want, call in Mystic Meg ...

Maybe that's our problem. Like a teenage girl hoping for reassurance that some spotty youth is The One, we're maybe placing too much credence on forecasts (in this case, of the economic variety.)

Is it possible we're in danger of talking ourselves into a terminal Great Depression?

One of the words that regularly get bandied about in the business pages is "confidence."

No wonder this is in such short supply when the same experts who didn't cop that a major global recession was coming our way now clamour to inform us that - according to their expert opinion - we are universally headed down the tubes. Maybe we are. But, then again, maybe, in the usual nature of these things, the economy will regroup and brighter days will come again.

Reasons to be cheerful? Despite the very real problems so many people are facing there are quite a few still out there.

Isn't it time we all staged a bit of a backlash against the Merchants of Gloom?

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