Shareholder: "Finance Director, I understand that you're forecasting a big loss."
"Yes, £702 billion next year."
Shareholder: "My God, and the following year?"
"Well then it'll only be £713 billion!"
Shareholder: "I don't believe it. And then what?"
"The next two years' losses will be £724 billion and £740 billion. Not too bad, eh?"
Shareholder: "But it's getting worse every year, isn't it?"
"Oh no, not really. When you allow for inflation our losses aren't getting higher at all but remain at the same modest level each year."
Shareholder: "That's a bit beyond me. Anyway, who is responsible for creating this inflation? Not you by any chance?
Thursday, 21 October 2010
Let's rephrase yesterday's post in the language of the private sector: