Great post. Hipocrisy of Bailey. He is so depressing but also so transparent in his biases and his dreadful communication that he dispels the myth that Central Bankers are independent. Central Bankers are servants of capital. They are about as independent as any other industrialist.
When house prices and share prices were sky rocketin…
Great post. Hipocrisy of Bailey. He is so depressing but also so transparent in his biases and his dreadful communication that he dispels the myth that Central Bankers are independent. Central Bankers are servants of capital. They are about as independent as any other industrialist.
When house prices and share prices were sky rocketing central bankers weren't worried about inflation. Only when that nonsense started feeding back into the real economy (ie wage increases) and politics that the Central Bankers started getting worried.
Try 18 months of higher longer term interest rates and see where everything that has been funding short goes. The problem they have now is that they cannot do anything with interest rates because we are at the end of another decade long credit bubble and popping that will push the economy back into recession. Therefore expect more stuff like this from Bailey and other Central Bankers but don't predict interest rates going above 2% for very long.
Great post. Hipocrisy of Bailey. He is so depressing but also so transparent in his biases and his dreadful communication that he dispels the myth that Central Bankers are independent. Central Bankers are servants of capital. They are about as independent as any other industrialist.
When house prices and share prices were sky rocketing central bankers weren't worried about inflation. Only when that nonsense started feeding back into the real economy (ie wage increases) and politics that the Central Bankers started getting worried.
Try 18 months of higher longer term interest rates and see where everything that has been funding short goes. The problem they have now is that they cannot do anything with interest rates because we are at the end of another decade long credit bubble and popping that will push the economy back into recession. Therefore expect more stuff like this from Bailey and other Central Bankers but don't predict interest rates going above 2% for very long.