Perhaps a little more deflation will convince Trichet what type of battle he is really in….
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Yes the article clearly makes a valid point. Love the Keynesian BS – free money got us into this mess, but don’t worry free money will get us out of it. How long till someone floats negative nominal interest rates (god knows real interest rates have been negative for years)
TJWP,
true that…but half way down the slippery ski slope can we really turn around and go up ?
Cronkite,
No we can’t turn around, but maybe we are fortunate enough that we are still going at a speed where bailing would just injure us badly rather than kill us. Everything is relative after all.