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Re: Can someone smart please read this...
I don't know if I am smart enough, but the article seems to say that your recession might not have been as bad as previously reported
jim -
Re: Can someone smart please read this...
Buy gbpusd !Comment
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Re: Can someone smart please read this...
Mickey-Mousing statistics is one way that government uses to prepare the public for a change in monetary policy. I am not very bright, nor am I an economist, but I would read this story as an indication that the government in the UK is preparing the public for a slight increase in interest rates ahead. I would guess that the failure of stimulus to work and to create an economic recovery (worthy of the name) is one reason why the central bankers in the UK, and elsewhere, are laying the groundwork for a tightening of monetary policy.
I would expect the U.S. dollar to sink relative to the other fiat currencies as monetary tightening begins. But I am just guessing.
And when interest rates are at zero, or near zero, what does so-called, "monetary tightening" really mean, especially when inflation is accelerating? If inflation is accelerating (as I see first-hand in Canada at the food stores), a slight hike in interest rates really means just more dirt-cheap money for all, courtesy of the monetary authorities. Hence, I use the term, "Mickey-Mousing of statistics" to keep the public confused and to keep the public obedient, and ultimately to keep the historians and the media brain-washed.Last edited by Starving Steve; July 09, 2010, 05:50 PM.Comment
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Re: Can someone smart please read this...
Steve, You got this back-asswards.Originally posted by Starving Steve View Post
If the Fed tightens, the US$ will strengthen; that would be deflationary.
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Re: Can someone smart please read this...
But maybe the Fed won't tighten in the US, just the central banks in other countries tighten. That could mean a LOWER U.S. dollar is coming. As I said, I am not an economist, just an observer.
Bernanke seems like a nut for keeping interest rates at zero, and the other central bankers just might break with Bernanke and his absurd policies. There might even be a revolt in the FOMC against Bernanke's policies, especially as the failure of stimulus to work is becoming so obvious that Bernanke's policies have become a joke to everyone in the world.
The senior citizens and savers, the pensioners and the prudent are thrown under the bus, to keep the bus moving? That can't be good for Obama and his Democrats. The U.S. economy is becoming the laughing-stock of the world. That can't be good for Obama and the Demos. Bail-outs for bankers? That mistake (courtesy of Bernanke and Nancy Pelosi) has to be bad for Demos. The re-appointment of Bernanke by Obama was another mistake. The take-over of the Demo Party by radical environmentalists and eco-frauds is another problem for Demos. The failure to pass full socialized-medicine in Congress was another mistake. The failure to confront the Republicans with the cost of keeping the old for-profit private medical insurance system in America was another failure of the Obama Administration. Spending just to be spending was another policy mistake of the Obama Adminstration. The appointment of Dr. Chu to the Energy Department was another mistake by Obama. The failure of energy policy in the U.S. can't be good for Demos. The Demos will be out and soon, and Obama will become a lame duck after that.Comment
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Re: Can someone smart please read this...
If you had been paying attention you would remember that EJ pays little attention to GDP as the number is too easily manipulated by government stats offices. Forget about it Mike and go have a decent pint.Originally posted by Mega View PostComment
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