OldLimey

Crossing the Rubicon: Monetizing the Long Bond

Watching BB speak last week, what was perhaps even more worrying than his restated willingness to monetise was the supreme confidence he exuded about the ease with which such a step could be reversed once markets normalise. I know central bankers are paid to exude confidence, but on this occasion I would have thought that some expressed appreciation of the dangers would have been more reassuring than an attitude which seemed to me to border on bravado.

Credit Crisis Watch: Gaining Positive Traction?

My personal finances would look 'easier' as well if the Bank of England gave me overnight liquidity on tap, guaranteed my borrowings, and bought junk from my loft at inflated prices. Good for me, without doubt, but hardly 'normal'.

Credit Crisis Watch: Are the Markets Thawing?

Agree entirely with axelrod608.

I've no particular axe to grind about anybody in US politics, but I have to admit to being surprised by how quickly President-elect Obama's eloquent rhetoric of change has given way to the 'business as usual' subtext underlying his economic appointments. It's hardly surprising that every newly announced appointment gets a cheer from Wall Street; each one is further confirmation that the foxes remain firmly in charge of the hen-house.