Tuesday, Jul 27, 2010
Looks like NZ may be the first to target house prices
NZ Herald: Reserve Bank should target the housing bubble
Now that the world has avoided going over the financial cliff, at least for now, the powers-that-be are doing a post-mortem of what went wrong.
The International Monetary Fund (IMF) has just produced a 42 page paper titled "Central Banking Lessons from the Crisis" that makes for an interesting read.
It diagnoses a bunch of problems, including keeping interest rates too low for too long, not watching the shadow banks, and light handed regulation.
Posted by mcagol @ 12:54 PM (545 views) Add Comment
2 Comments
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1. charlie brooker said...
"It diagnoses a bunch of problems, including keeping interest rates too low for too long,"
So what's been their response to this? Keeping interest rates even lower even longer.
What was the definition of insanity again?
Oh yeah, doing the same thing over and over again and expecting different results.
2. rumble said...
Mistakes? It's financial and political warfare. The EU is a battleground. The US, thank IMF, would have the euro become a facade for an EU incorporated into a transatlantic, US, economy. China will work toward preventing that.
"jibing appeared"