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crash2006

Boe Is In A Mess Of Its Own Making

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But even if the BOE has cleared up one source of confusion, a greater one remains. The BOE's inflation model relies almost entirely on estimates of the output gap, a subjective process that depends on what one believes to be the productive potential of the economy. Modern central bank theory has little place for the money supply or credit growth in inflation. As the BOE flounders over quantitative easing, that is a serious omission.

http://online.wsj.com/article/SB124843592408678843.html

guess some of you are interested in this.

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mess

looks like they have been doing a good job thieving to me

when will people wake up though

British_Pound.jpg

The likelihood of an American plutocrat, born in the 17th century, waking up tomorrow is pretty slim you know.

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