Monday, September 12, 2011
New And Different
He comes out swinging!
"The Panic of 2008." "Veterinary fix." "It is no secret that I thought the second round of quantitative easing (QE2) ran that risk. I could not support it when it was proposed because I saw no analytically sound justification that its purported benefits would outweigh its likely costs. "
You have to read this speech! The final line:
With that, I’ll stop. And in the best tradition of central banking, I’d be happy to avoid answering any questions you might have.
"This chart is most definitely not a pretty sight."
Just once I'd like to see along-term chart that was a pretty sight, lol. Sigh.