http://sustento.org.nz Mon, 14 May 2012 03:25:31 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 http://sustento.org.nz/central-bank-chant-im-forever-blowing-bubbles/ http://sustento.org.nz/central-bank-chant-im-forever-blowing-bubbles/#comments Thu, 13 Aug 2009 22:48:28 +0000 Raf Manji http://sustento.org.nz/?p=316

Pretty bubbles in the air.

They fly so high,

Nearly reach the sky,

Then like my dreams,

They fade and die.

Fortune’s always hiding,

I’ve looked everywhere,

I’m forever blowing bubbles,

Pretty bubbles in the air.

Never did I believe the mighty Hammers would have understood the machinations of central banking so well. Maybe they knew?

Reading the recent Fed statement, one may feel that the lessons of the recent crisis have not been fully understood or learnt. That’s the problem with the ability to print new money to replace old. It gives a feeling of relief and so help the markets to recover, in fact recover strongly. But there is nothing here that suggests the policymakers know what they are doing.

Crisis dealt with? For now.

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