The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Pogeu Mahone who wrote (99167)	10/24/2008 2:31:50 PM
From: Mike Johnston	3 Recommendations Read Replies (1) of 110194

The ultra-hawkish stance of the European Central Bank - which raised rates in July - is now viewed as a weakness. Foreign exchange markets are no longer chasing the highest interest yield: they are instead punishing those where the authorities are slowest to respond to the downturn. This is perverse, almost laughable analysis. So ECB is criticized for its responsible behavior and punished for attempts to preserve the purchasing power of the currency and contain inflation. Why nobody is talking about the truth ? That Europeans were ripped off to the tune of trillions of dollars by Wall Street crooks and are suffering the consequences. I do not feel sorry for them, this is the price they are paying for their naivete and stupidity in trusting American paper assets, American ratings agencies, American economic statistics and American salesmen.

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