Jun 23, 2008

Bill Laggner on cheap and ample credit

Today the faith is clearly in central bankers, that they’ve got things totally under control and have engineered a synchronized global boom. If you’re not participating in this global boom you just don’t get it. It’s not just faith in the Fed but in all the central banks. A good example of this thinking is BusinessWeek’s recent cover story ‘It’s a Low, Low, Low Rate World.’ The idea is that foreign central banks will continue to finance our excesses, they always have and always will, and as a result interest rates will remain low.

~ "Value Traps Revisited," Dollarcollapse.com, December 21, 2007

No comments: