Thursday, Jan 24, 2008
Zimbabwe here we come
Bloomberg: Forbes Says U.S. Dollar Policy Amounts to `Zimbabwe Economics'
The U.S. prefers a ``weak'' dollar because it helps the nation's exporters, Forbes said. ``That's Zimbabwe economics.''
Posted by happyrenterz @ 10:59 PM (377 views) Add Comment
1 Comment
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1. paul said...
It is though. You can't possibly, remotely solve an economic problem by parachuting money into neighbourhoods. You give out free money with one hand, it gets removed six months later with inflation. Really, really basic economics.
I still don't understand why both the Bank of England and the Fed earnestly think they can somehow defy the laws of macroeconomics simply by doing stuff that no-one else ever tried (like parachuting money or bailing out retail banks). The reason no-one ever did it before wasn't because they were not bold enough, it was because they knew it wouldn't work