They are pretty responsible, that's what the Feds should do
not to have a saggy currency, a primary objective of any
central bank. I can only clap my hands in respect. This too
shall pass, since the Euro was a new currency and had
to establish itself as a reserve currency. The goal of
the Euro, IMHO,
was to export the European inflation to Asia, just like
US did for many years. They will do just that, in due time. -g-
Preventing bubbles rather than mopping afterwards is also a
pretty sound CB policy. The Fed, in fact, should not have blown a stock
market bubble in 1995 and a RE bubble in 2002 to save the
collapsing stock market bubble. The Fed should not target
stock prices either in their policy, but that's besides the
point. The BLS should be honest about inflation, or
else inflation expectations will eventually skyrocket.
What is happening now is a direct consequence of what
happened before. Ponzi economies
don't work forever. This one worked for a long time, but
I think it's over now, and the collapse will take a form
of a severe economic crisis along with a currency crisis.
We are in process. |
