Bis And Imf Attacks On Quantitative Easing Deeply Misguided Warn Monetarists

[interestrateripoff]

http://www.telegraph.co.uk/finance/economics/10067080/BIS-and-IMF-attacks-on-quantitative-easing-deeply-misguided-warn-monetarists.html

Monetarists across the world have warned that the International Monetary Fund and the Bank for International Settlements are making an historic error by calling for a withdrawal of emergency stimulus before the global economy has fully recovered.

The two watchdogs launched broadsides against central bank largess last week. The BIS -- the forum of central banks -- was particularly blunt, seeming to imply that quantitative easing "does not work".

Critics say this risks undermining the credibility of radical measures when more may yet be needed. They fear central banks could repeat the mistake made in 1937 when the Federal Reserve lost its nerve and tightened too soon, tipping America back into depression.

"The BIS and the IMF are deeply misguided and risk doing the world a grave disservice. The biggest threat right now is irrational fear of bubbles among central banks," said Lars Christensen, a monetary theorist at Danske Bank.

"How can they criticize the Bank of Japan for pulling the country out of 15 years of deflation and the longest asset price collapse in modern history?"

The road to wealth is printy printy.

I'm amazed we have poor countries the monetarists know how to fix everything, not quite sure what happened in Zimbabwe but clearly the monetarists should have been called in!

[inflating]

Good old monetarists and their big fat print finger. They're so with it man, printy printy is the new industrial revolution, if only we'd thought of it before! Productivity and output? Who needs it!

[billybong]

Monetarists Bankers across the world have warned that the International Monetary Fund and the Bank for International Settlements are making an historic error by calling for a withdrawal of emergency stimulus before the global economy has fully recovered.

Bankers don't want to get off the gravy train.

[billybong]

"How can they criticize the Bank of Japan for pulling the country out of 15 years of deflation and the longest asset price collapse in modern history?" the price of stuff getting cheaper?

Pats on back all round for making stuff more expensive.

Edited May 20, 2013 by billybong

[thecrashingisles]

Pats on back all round for making stuff more expensive.

"One day son, all this will be out of the reach of the plebs."

[porca misèria]

Monetarists?

Monetarists???????

Black is white. Freedom is slavery. We've grown used to major historical figures like Christ and Marx, and most recently Keynes, have their "ism"s twisted in ways that would horrify them. But this? Oh dear.