Wednesday, Dec 17, 2008
Fatal economics will soon take down world economy
Reuters.com: Fed unleashes greatest bubble of all
Like the sorcerer’s apprentice, Federal Reserve Chairman Ben Bernanke and his predecessor Alan Greenspan have unleashed a series of ever-larger asset bubbles they cannot control.
Now the Fed’s decision to cut interest rates to between zero and 0.25 percent, coupled with a promise to keep them there for an extended period, and the threat to conduct even more unconventional operations in the longer-dated Treasury market risks the biggest bubble of all, this time in U.S. government debt.
Posted by v stor @ 05:31 PM (144 views) Add Comment
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