Who Are the Socialists: FOMC vs ECB ?

Thursday, March 06, 2008 | 01:16 PM

Today's chart porn is off of the most interesting article I read in today's NYTimes: In Europe, Central Banking Is Different.

Note that Central Banks in Europe left  rates unchanged today.

The full article describes how the ECB focuses on reducing inflation. However, there is a laundry list of  factors the ECB pretty much ignores:

-Eliminating the normal business cycle;

-Preventing a recession regardless of costs;

-Allowing the currency to be debased.

Further, the ECB doesn't seem to care where their equity markets are.


Two Different Approaches to Central Banking


The entire article is fascinating . . . 

In Europe, Central Banking Is Different
NYT, March 6, 2008


Thursday, March 06, 2008 | 01:16 PM | Permalink | Comments (66) | TrackBack (0)
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I finally understand "trickle down" economics: the fat fees generated by bubble creation are retained by the wealthy, and when the tide turns, the risks and losses trickle down to the taxpayers.

Is this a great country or what?

Posted by: winston munn | Mar 6, 2008 1:34:39 PM

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