Saturday, May 24, 2008
A blow for the media VIs
Times: IMF says there is no scope for rate cuts
A good sober article from Gary Duncan, which implicitly states the need for rates to rise again. The IMF has got it dead right, which leaves no scope for Darling to be packed off begging for a loan to prop up the failing economy. “Imbalances emerged in recent years - inflation, overheating in housing markets, low domestic savings rates, high current account deficits, and sustained drops in the international investment position” . Time to encourage saving, reduce borrowing and reduce spending on imported goods.
Posted by fed up @ 08:39 AM (168 views) Add Comment
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