Monday, June 6, 2011

Waiting for Godot

Inflation fears have vanished – suddenly it's all about growth

"You might think that the continuation of very low interest rates for a while longer might be a good thing. It isn't. A healthy economy full of vitality and the joys of risk-taking should have relatively high interest rates. Only those economies unable to stand on their own two feet experience continuously very low interest rates. Low interest rates today are not a sign of future strength but, instead, of ongoing current weakness. There is little credit supply, even less credit demand, insipid money supply growth and miserable fiscal austerity. Housing markets, meanwhile, are no longer able to deliver the turbo-charged recoveries of old."

Posted by dill @ 01:15 PM (1348 views)
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3 thoughts on “Waiting for Godot

  • It’s the tired old story of the monkey that’s unable to take it’s full hand out of the hunters nut trap.

    Yawn.

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  • “Housing markets, meanwhile, are no longer able to deliver the turbo-charged recoveries of old.”

    Did I miss something in the 70’s, 80’s and 90’s?

    Recoveries in those decades were never fuelled by the housing market.

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  • Did anyone notice the graph entitled ‘Real House Prices’ on the right has not just broken through the rising trend line in this down move, but has also gone lower than the earlier test of said line? I expect things will speed up soon as we see average prices return to approx 72000 pounds.

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