The Econmist, a European-centered and liberal publication. was a very enthusiastic cheerleader of BHO2 back in 2008.
We cancelled our subscription due to there fiction-writing, something inexcusable in a publication dedicated to financial reporting.
Does it seem to anyone else whether they have changed?
Translation - The Fed is pretending they aren't Pavlov's dog every time the financial sector rings the dinner bell..
That allegedly educated and sophisticated men can use Orwellian terms like quantitative easing and “twist” for what is nothing more than old fashion debasement of the currency sickens me.
When coins were gold and silver....at least the King had to melt them down and add dross so he could reissue 3 coins for one smelted down. Now it is done with bond auctions and loans.
The fundamentals of our own economy, let alone Europe’s, are so far out of whack neither cannot recover. The debt based economies will all have to be reset....the only real question is will everybody be whacked to the same degree....or just the middle and working class again. Guess what the answer is. Go ahead. Guess.
While I always thought it a recipe for abuse, the “theory” behind debt based currency requires that the guardians are men of absolute character and integrity...acting always in the greater long term interests of us all, and never in the short term and certainly not for the narrow interests of a favored few.
The guardians haven’t been doing their jobs for at least 50 years. There is now a revolving door between Fed Reserve offices, the too big to fail banks, Wall Street and the regulatory agencies and government in general. It revolves so fast you can feel the breeze anywhere in the US.
The high finance boys have looted the banks and the economy. They made stupid bad investments....took huge short term gain on extreme high risk long term instruments (derivatives et al)and then when the pyramid scheme collapsed, they were made whole on principal and profits by raiding the full faith and credit of the US.....and with it shuffled off the bad debt to the taxpayer.....basically the middle and working class.
It looks like 2012 and 2013 will be 2008 and 2009 all over again only it will be trillions, and not mere billions in the wash.
Grrrrrrrr. I got to quit reading the news.