Friday, June 7, 2013

Remember him?

Greenspan: Taper Now, Even If Economy Isn't Ready

He said in a "Squawk Box" interview that near-zero interest rate policy at the Fed has helped stock prices, but the markets need to be prepared for faster-than-expected rise in rates.

Posted by dill @ 01:34 PM (1433 views)
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7 thoughts on “Remember him?

  • In other words: “the only reason we are in this mess is because I waited too long to raise interest rates. I now realise my error and its enormous role in ruining the global economy. Please don’t repeat my hideous mistake.”

    Pfft, what does he know? Bring on Mark Carnage.

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  • @ reticent

    Western central banks have a very short window left to effect normalisation. If they don’t do it soon, then a very heavy price will be paid in terms over which monetarists have very little control.

    Britain is an absolute joke in all this, by the way. They’re playing poker. Blaggers who don’t have a hand, time and again, preserving their place at the table merely because the true power players want to keep them for a while.

    The Carneyvore is here to marshal next stage. Just because someone is paying you – doesn’t mean you’re working for them.

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  • @2

    You’re forgetting that we have a “special relationship” with the US.

    The good thing is that the US is discussing normalisation.

    Unfortunately, normalisation is barely an option for us and Mark Carney has been hired largely because he would never consider it.

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  • 1. The US has a forming ‘special relationship’ with the EU, to which the UK currently has an attachment. Should it choose, in it’s conceit, to divorce from it, then it will choose isolation.

    2. Where America treads, the UK is forced to flollow.

    3. It’s not in the UK’s control. And your very comment demonstrates what a basket case it is. Mr. Carney has to deal with that for a fee.

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  • @ dill,
    “Just because someone is paying you – doesn’t mean you’re working for them”, “Where America treads, the UK is forced to flollow”.

    ….Be careful mate, the PRISM people will be knocking on your door soon.

    Look at the US payrolls…more security guards and security consultant jobs created, manufacturing jobs disappearing. It will help the US Bildenbergers defraud and “keep in line” their population (and everyone else) much more efficiently this way.

    …time to close down my connection in the cybercaff….10 clones of Tom Cruise have just come in!

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  • ..the PRISM people will be knocking on your door.

    Do they prefer tea or coffee?

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  • stillthinking says:

    If they look like they have to go up thats going to be true here as well, because the limit on interest rates is pretty low in the UK. I doubt most debtors could handle even 6% base rate. So if the BoE wants to get ahead of the curve they have to get ahead pretty quickly.

    Given additionally the pressure to keep them low, to “lock in recovery” is no doubt why most think a c-ck up is a certainty.

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