Friday, November 08, 2013

EZB President Draghi Is As Reckless And Irresponsible As Bernanke

Previous, Related Blog Posts


I have previously blogged about monetary policy, the Fed and Ben Bernanke here, here, here, here, here, and here.


The Essence


To reiterate again, interest rates are one of the most important prices in a free market economy. To manipulate this price like it has been done by numerous government central banks in the past decade or longer is inexcusable. Money should never be cheap or it stimulates overspeculation, overinvestment and profligate government spending. It severely harms saving, insurance etc.


European Central Bank Lowers Two Key Interest Rates

It is absolutely insane to lower a key interest rate from 0.50% and 1.0% by a mere 25 basis points and to expect any major economic effects. One of the two ECB key interest rates has been at or below 0.5% since March 2009 and the EU is still in a slump.

Desperate Fools At The Helm


What the People have learnt since the Great Recession and since the Financial Crisis is that our elected representatives and public servants/employees are clueless about economics.

No comments: