Normally I'd agree with the thesis that the ECB has too strict a bias to and already too low inflation target, but if ever there weren't a time to bail out the BOE and the Fed, this is it.
Why the hell let them monetaize their bad debts in the Eurozone? Fai de bèn a Bertrand, te lou rendra en cagant
And like the Argentines borrowing in USD ten years ago, one day those same banks will be needing to pay back in Euros when most of their deposits are in sterling. Fai de bèn a Bertrand, te lou rendra en cagant
Then maybe rename the currency the peso? Fai de bèn a Bertrand, te lou rendra en cagant
I mean, since the foolish effort to get back on a pre-war gold exchange rate in denial of shifting geo-economic realities led to a long spell of slower growth than its rivals?
I'm still hoping to get some spare coin while the US$ is still a useful margin below $2.00/€ I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
how much has the UK changed since the 20's? I mean, since the foolish effort to get back on a pre-war gold exchange rate in denial of shifting geo-economic realities led to a long spell of slower growth than its rivals?
