Thursday, November 25, 2004

Bin Laden plan to break America: "The Fed has kept interest rates artificially low for long, thereby creating enormous amounts of cheap and easy money and has also pursued a policy of 'monetary inflation' (declining the value of the dollar) by printing nearly $1.5 trillion a year. These prolonged policies have artificially created huge and growing (1) credit, (2) real-estate and other asset and (3) stock-market bubbles. However, with interest rates rising, the bubbles are about to burst."

Meanwhile, John Howard claims the credit for low interest rates and a record land boom, and Mark Latham makes no attempt whatever to contextualise the domestic and international financial situation.

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