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A critique of the ECB's liquidity policies | 66 comments (66 topical, editorial, 0 hidden)
Not at all. (4.00 / 5)
kcurie is well known for sand-bagging us about the true extent of his knowledge and perspicacity.

paul spencer
by paul spencer (paulgspencer@gmail.com) on Thu Feb 24th, 2011 at 11:12:19 AM EST
[ Parent ]
Re: Not at all. (4.00 / 2)
Really? Well I did get some things.. but some ideas.. really truly no clue.. I now know that I do not really get how the ECB works... I need to know how a balance sheet works .. and quickly if  want to get anything.

I think most bankers in eurointelligence will get the main idea... I do hope he gets a man editorial in the FT (the only real left-wing newspaper on Earth)

A pleasure

I therefore claim to show, not how men think in myths, but how myths operate in men's minds without their being aware of the fact. Levi-Strauss, Claude

by kcurie on Thu Feb 24th, 2011 at 11:47:53 AM EST
[ Parent ]
Re: Not at all. (4.00 / 4)
kcurie:
the FT (the only real left-wing newspaper on Earth)
Can you imagine saying that in 2007?

Keynesianism is intellectually hard, as evidenced by the inability of many trained economists to get it - Paul Krugman
by Carrie (migeru at eurotrib dot com) on Thu Feb 24th, 2011 at 12:02:04 PM EST
[ Parent ]
Re: Not at all. (none / 1)
Well, in 2007 they were cheerleaders for the credit bubble. Still are, of course, but today the actual needs of the economy are somewhat more closely aligned with their recommendations.

A classic case of being right for all the wrong reasons, if you ask me.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Thu Feb 24th, 2011 at 06:31:40 PM EST
[ Parent ]
Not completely (4.00 / 2)
Remember they were one of my main source for my "watch out" diaries. They had Gillian Tett writing in extensive detail on the shadow banking system and other arcane corners of the markets.

The front page and headlines were cheerleading, but the full content of the paper was much more useful.

Wind power

by Jerome a Paris (etg@eurotrib.com) on Fri Feb 25th, 2011 at 04:11:34 AM EST
[ Parent ]
Re: Not at all. (none / 0)
kcurie:
Well I did get some things.. but some ideas...

While I was reading the article I felt like I was starting to understand something. But I have to go back to the article to get that feeling back.  :-)

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Feb 24th, 2011 at 01:43:28 PM EST
[ Parent ]
Re: Not at all. (none / 0)
Then the article is a keeper!

Keynesianism is intellectually hard, as evidenced by the inability of many trained economists to get it - Paul Krugman
by Carrie (migeru at eurotrib dot com) on Thu Feb 24th, 2011 at 02:20:27 PM EST
[ Parent ]
Re: Not at all. (none / 0)
Definitely, but I think you might consider posting your original. I suspect that Muchau's "turbidity reduction" efforts might have also deleted some content.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Feb 24th, 2011 at 07:44:26 PM EST
[ Parent ]
Re: Not at all. (none / 0)
It doesn't seem so. He removed links to sources we have discussed in this comment thread, a jab at traders' attention spans, a quote from a clueful analyst, and broke some longwinded periods into bite-sized sentences. Some of the more conversational turns of phrase also disappeared.

Keynesianism is intellectually hard, as evidenced by the inability of many trained economists to get it - Paul Krugman
by Carrie (migeru at eurotrib dot com) on Fri Feb 25th, 2011 at 02:12:25 AM EST
[ Parent ]
Re: Not at all. (none / 0)
I really do not get most of the letter.. I get humor much mroe better

http://avionesdecercanias.blogspot.com/2011/02/se-hacen-mayores-y-famosos.html

But I do get taht steilization is nonsense.

Buying public debt at fix amrket prices does not geenrate inflation, it makes the EC work as market-maker of last resort... tat's wat the ECB should be doing , at least to avoid anotehr financial catastrophe... not that this is good enough, but at least hey should do it.

Of course, ECB should be pushing for eurobonds, transfer payments , inflation in Germany and/or quantitaive easing and/or printing money to elimiante some private debt.

A pleasure

I therefore claim to show, not how men think in myths, but how myths operate in men's minds without their being aware of the fact. Levi-Strauss, Claude

by kcurie on Fri Feb 25th, 2011 at 06:26:33 AM EST
[ Parent ]

A critique of the ECB's liquidity policies | 66 comments (66 topical, 0 editorial, 0 hidden)
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