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Smoke-Filled Rooms And Perma-Easing
"We’re informed by past experience," Christine Lagarde said Thursday, following the unveil of new forward guidance that appeared to give the ECB wide latitude to keep monetary accommodation in place in virtual perpetuity.
She was obviously referring to Jean-Claude Trichet's infamous policy mistake.
"The new strategy indeed marks a shift towards more dovishness, potentially leading to a delayed and very soft tapering as well as a further delay of any rate hike," ING said, in a follow-up note.
We’d likely get better policy outcomes from the college kids on the Beam and bong hits.
Congress has become a freak show; no work, no deliberative discussions, no actually coming up with real actionable bills. Afternoon soap operas (do they even exist anymore?) are more relevant. And here we are worrying if they’ll ‘get something done’. And the answer is a sad pathetic NO.
The national fabric is unravelling to the point of being unrecognizable and Congress is fighting over thread color. NYC issued stay inside alerts for those with asthma and respiratory ailments because of smoke from out of control climate fueled fires 3000 miles away. And half the country is damn sure they’d rather die than wear a mask. ‘Home of the brave’ – yeah, right. How did the ‘greatest generation’ spawn such a ship of fools as us. Maybe Flint isn’t the only town with enough lead in the drinking water to fry the brains of every child who is foolish enough to want a glass of tap water.
This is all chump change. The DoD blows a trillion a year on war and associated toys for usa usa……..
This article is a reminder that H is a funny, funny man. I really enjoy laughing out loud, so thanks.
H – Recalling your comment on 24 June about the bipartisan infrastructure bill, it’s a show. For the benefit of our huddled masses, and the teeming masses of humanity inhabiting the earth, for that matter, it’s all a big show. Our Founders were indeed enlightened. They understood what they were doing, as they had seen many similar shows in London. And I do like the more theatrical style of Parliament.
I agree with each of the judgements of Sean, John, and YT about how Congress determines spending and priorities. But at this fraught and risky time in our history, I like the idea of making a show of shared bipartisan values with an infrastructure bill, however it may be done. It’s a relatively simple action that counters the narrative, promoted by deluded buyers of so-called republican rhetoric, that the other party is evil. And not only will they never be a partner, they should be vanquished.