Archive for the Paul Ormerod Category

Ignore the IMF: Economic forecasts have a history of being unreliable

So the IMF has slashed its growth forecasts for the UK economy.  This august body has just pronounced that Britain’s economy will come to a virtual standstill.  Growth in 2012 will be just 0.2pc, compared with the IMF’s April forecast of 0.8pc growth.  It cut its 2013

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Royal Bank of Scotland fiasco shows the power of networks

The last week or so has seen complete mayhem in the Royal Bank of Scotland and its subsidiaries.  A computer glitch has caused their payments systems to collapse.  Monies have not been processed, 17 million customers have been unable to access their accounts and pay their bills.

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