The British press wake up....

[Mega]

...well some of them:-
http://www.telegraph.co.uk/finance/c...s-country.html

BTW the ex chief of MI6 whom "helped" collection of information for the "weapons of mass distuction" thus WHY we needed to invade Iraq has just been made a director of an Oil company in Iraq!

Hmmmmmm

Mike

[Starving Steve]

Re: The British press wake up....

The Telegraph might just as well be describing the inflationist policies of the U.S. Federal Reserve Bank under Bernanke. It's a very similar story. And the Great Recession goes on and on........

[Mega]

Re: The British press wake up....

Indeed Steve
We hear a gret deal about the "Euro-PIIGS" what about the Ango-saxion PIGS!
Mike

[Starving Steve]

Re: The British press wake up....

Indeed Steve
We hear a gret deal about the "Euro-PIIGS" what about the Ango-saxion PIGS!
Mike

Years of negative real interest rates thanks to Bernanke and Greenspan have created: (asset bubbles) + (bigger federal deficits) + (too big to fail bail-outs) + (the wreckage of bubbles) + (more bail-outs) + (kick-the-can attitudes) + (the destruction of savers) + (money fleeing America) + (new bubbles) + (stagflation) + (moral hazard) + (continued Great Recession).

And the Fed refuses to learn. They refuse to admit that monetary policy can not correct a Great Recession. This lesson was learned in the second dip of the Great Depression in America (1937-1939), and this lesson was re-learned with the stagflation of the 1970s, and this lesson is now being re-learned with the failures of Greenspan and Bernanke's negative real interest rates to end the Great Recession which goes on, year after year.....This was what was discussed to-day on Larry Kudlow's interview on CNBC with the lone decenter on the FOMC in Washington: Hoenig from the Kansas City, Missouri Federal Reserve Bank.

Why don't students just walk-out of their economics classes and laugh at their professors? Why waste your time listening to their dribble?

[bpwoods]

Re: The British press wake up....

"Why don't students just walk-out of their economics classes and laugh at their professors? Why waste your time listening to their dribble?."

We have to 'pass' our exams Steve. Kinda not an option to walk. None of my 7 econ professors knew what the FIRE was (is?). When I referenced it in an essay I was 'scolded' because I was unable to provide a citation from a peer reviewed paper! Had to put it is as a note in the appendix.

"And the Fed refuses to learn". Its a common feature of very smart folk, Steve. Its called Skilled Incompetence (Chris Argyris). Also it is de rigeur for you to fail in the most heroic and successful manner possible. You get bonus and kudos for that. You might even get that Bank Prize for Econ!

Brian