All advocates of ZIRP now manifestly allied with the ECB people. Good job.
Bundesbank’s #Weidmann rebukes #Draghi critics in Berlin https://t.co/dTnKmE0AR2 #ECB #inflation #eurozone
— Ramona Gabar (@RamonaGabar) April 12, 2016
Bundesbank’s #Weidmann rebukes #Draghi critics in Berlin https://t.co/dTnKmE0AR2 #ECB #inflation #eurozone
— Ramona Gabar (@RamonaGabar) April 12, 2016
9 comments:
Guilt by association. Good job.
Aesop's Moral: A man is known by the company he keeps.
If you find yourself in agreement with the ECB people it should at least make one re-think one's position...
Aesop's Moral: A man is known by the company he keeps.
That's why I was glad at Jordan Spieth's back-9 collapse in the final round of the Masters -- a few years ago he played a round of golf with the former leader of the free world George W.
I guess Karma is a dish best served cold ;)
Well that didn't change your guilt by association one bit. It just shows that you have no problems with fallacy arguments whenever it suits you. So moral lessons from you is faded out…
Now Matt, as the biblical scholar you are you must know a thing or two about the company Jesus kept.....and he was roundly criticized for it by those pharisees too. Do you want to be guilty of associating with the Pharisees?
Other than the fact that they decided to go past zero, I think a case can be made that the ECB did the right thing with interest rates although for the wrong reasons.
His disciples were compliant with their law so was he.... as so am I with our laws today.......
We have elderly people today who they or their fiduciaries have also been compliant with the ERISA law for the last 42 years ($18T to prove it...) who now you left libertarian guys are just fine seeing fucked over royally by ZIRP as are many state/local govt finances which could go into local social services but are being diverted to make up for shortfalls in investment returns of the ERISA accounts....
Just have a vote in the legislature about appropriating the funds that would have been paid through interest. Why take the roundabout of interest payments, which are not targeted.
Of course, there would be a huge kerfuffle over it, and the public could see where their representatives stand on the issues that affect them. Why leave this to technocrats at cb who are clueless.
Matt
I totally get where you are coming from regarding ZIRP. As it is with everything else, the people really paying the price for the policy is the people who can least afford it...... but there is no way we should raise rates as long as the people in charge are operating in the current paradigm. If you and Mike were in charge of CB and Treasury respectively and we weren't gripped by this ignorance around sovereign US debt structure I would have no problem with there being a level of "free lunch" so to speak or risk free debt (as risk free as can be ) but under the current conditions raising rates, and increasing flows from Govt bonds, will soon lead to cries of unsustainability and more and more austerity. We are screwed either way. The morons will always screw over the 80-90% first. With ZIRP though, they are getting screwed too.
You can't take your savings with you when you die, so you should be burning through the principle. Reverse mortgages have become popular for some.
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