QE3?

[Iron]

Sure, but that doesn't mean that I'm not entitled to an express opinions about what I see as poor decisions by people in power!

Jeff

We could trade quotes all day, Im just making the point that its very easy to be a monday morning quarterback

[mulberryhawk]

refer to previous post

“When we judge or criticize another person, it says nothing about that person; it merely says something about our own need to be critical.”

[Iron]

So that must apply to you criticising others for being critical, presumably?

Jeff

“When we judge or criticize another person, it says nothing about that person; it merely says something about our own need to be critical.”

[mulberryhawk]

Haha yep, I guess so. Funny I was just thinking that.
Its the sarcastic tone to the comments is what Im referring to. I think its the tone thats the giveaway

[Iron]

Fair enough, but one man's meat is another man's poison - Some people like sardonic wit.

Jeff

[superfrank]

another £75bn from Benny Hill... http://www.bbc.co.uk/news/business-15196078

[Iron]

Is it just me, or is the BBC headline 'Bank of England injects further £75bn into economy' a tad misleading?

It makes it sound like the B of E are doing the UK a favour! Who could object to an injection of its money into the economy when times are hard?

I'm tempted to make a complaint, but I think I'd be whistling in the wind. The BBC are the unofficial broadcasting arm of the Guardian, and that's not going to change anytimes soon...

Jeff

[superfrank]

What it should say is "Purchasing power of the pound diluted yet again by clueless unelected idiots bailing out their mates in the City".

don't waste your time complaining, they don't even reply.

[Iron]

What it should say is "Purchasing power of the pound diluted yet again by clueless unelected idiots bailing out their mates in the City".

The article quotes someone who says that the measure will 'help support confidence'.

Strangely enough, they didn't quote any experts who pointed out that it could contribute to higher inflation & more expensive imports, as well as bond holders demanding higher interest rates in future...

don't waste your time complaining, they don't even reply.

Sometimes they do, sometimes they don't (I've sent quite a few complaints to them!).

I did submit a complaint in the end. It's a bit like voting. Whether I go to the polling booth or not won't affect anything. But if everyone went down the apathetic route, nothing would ever change...

Jeff

[Iron]

Everything you ever wanted to know about QE but were afraid to ask (produced by the Bank of England):

http://www.youtube.com/bankofenglanduk# ... 9wRq6C2fgo

Jeff

[superfrank]

Republican candidates vow to oust Fed's Bernanke
http://www.reuters.com/article/2011/10/ ... O120111012

"If they want to really change things, the first person to fire is Bernanke, who is a disastrous chairman of the Federal Reserve," said Gingrich.

"Bernanke has in secret spent hundreds of billions of dollars bailing out one group and not bailing out another group. I think it is corrupt and it is wrong for one man to have that kind of secret power."

"Bernanke compounds the problem," Paul said. "He's inflating twice as fast as Greenspan was."

[Iron]

Whatever you think of Bernanke, I'm not convinced this is a good thing.

How can central bankers be independent of government if the government has the power to fire them?

On the other hand, the situation we have in the UK, where King can miss targets every month and keep his job, isn't ideal either...

Jeff

Republican candidates vow to oust Fed's Bernanke

[superfrank]

Whatever you think of Bernanke, I'm not convinced this is a good thing.

How can central bankers be independent of government if the government has the power to fire them?

On the other hand, the situation we have in the UK, where King can miss targets every month and keep his job, isn't ideal either...

Well it's governments that appoint them so they should be accountable... who's gonna sack them if the government doesn't?!

You may have noticed that central bankers always do the thing that banks and "the markets" want because they are their masters and not the people who are kept in debt slavery to keep the ponzi schemes propped up.

Central banks' solution to every problem is always the same... more, and cheaper, money.

[Iron]

It's sometimes hard to reconcile the need for accountability with the need for independence.

To use another example, we want judges to be accountable, but we also want them to be independent, and if the government could go around sacking them when they didn't like their decisions, they wouldn't be very independent...

Jeff

Well it's governments that appoint them so they should be accountable... who's gonna sack them if the government doesn't?!

[superfrank]

QE explained... http://www.youtube.com/watch?NR=1&v=PTUY16CkS-k