tag:blogger.com,1999:blog-2761684730989137546.post1941165071503268251..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: PIMCO's El-Erian sees U.S. inflation in medium termmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2761684730989137546.post-59478547965893426062010-05-13T21:38:44.208-04:002010-05-13T21:38:44.208-04:00El Erian's monthly column said, "it is ce...El Erian's monthly column said, "it is certain that the Greek crisis will undermine aggregate demand and, therefore, trade flows – directly and, more importantly from a global perspective, by imparting an additional fiscal drag to other European countries." And now a couple weeks later he says medium term inflation. What a goof.Ryan Harrishttps://www.blogger.com/profile/04815033054435303399noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-14731714959924047302010-05-13T21:33:12.721-04:002010-05-13T21:33:12.721-04:00Mike,
If there was all of these USDs sloshing arou...Mike,<br />If there was all of these USDs sloshing around, doesnt he think that some banks over here with all of the excess reserves "to lend out" could lend some to these Euro institutions that had to go to the Fed to get the $9.2B of funding this week via the emergency USD swaplines? Afterall there is supposed to be like $1T of these excess reserves out there waiting to make inflation....<br /><br />Another point raised that the monetarists will never answer!Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.com