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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (8823)2/29/2004 2:02:15 PM
From: Haim R. Branisteanu   of 110194
 
my two cents is that the politicians came out publicly with this French Prime Minister Jean-Pierre Raffarin and German Chancellor Gerhard Schroeder this week added to pressure on the ECB by calling for a cut in the benchmark rate from a half- century low of 2 percent to stem the euro's 14 percent advance against the dollar in the past six months.

… because the ECB does not think to lower rates as there is substantial commodity inflation, even in EZ.

The economy there is weak and therefore no demand but it seems to me that we are approaching very fast a period of stagflation and ECB got a sniff of it.

In general terms the policy makers in the US remember the ravages of deflation 70 years ago and to the contrary in EZ they remember the ravages of hyperinflation 75 years ago
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