This may be so:
US Federal Reserve chairman Ben Bernanke's need for lower interest rates to stimulate the US economy conflict with the Treasury's need for a strong dollar to deal with runaway oil prices. The Fed should recognize that its actions are misguided. The potential harm of a sustained weak dollar can make the credit crisis look like a minor storm.
... or it might not be so but one thing is for sure - the Morgan Fed is either incompetent or evil.
Take your pick.
US Federal Reserve chairman Ben Bernanke's need for lower interest rates to stimulate the US economy conflict with the Treasury's need for a strong dollar to deal with runaway oil prices. The Fed should recognize that its actions are misguided. The potential harm of a sustained weak dollar can make the credit crisis look like a minor storm.
... or it might not be so but one thing is for sure - the Morgan Fed is either incompetent or evil.
Take your pick.
I hate having to repeat myself.
ReplyDeleteWhen given a choice of incompetent or evil the answer is always:
It's both.
The BOE has adopted the same damn stupid strategy. A lesson for us and the Americans about who the government really serve - I wonder if it will actually sink in this time?
ReplyDeleteRight, Bag.
ReplyDeleteWill it sink in, Wolfie? Realms of speculation.