=
×

Julian Cope presents Head Heritage

Head To Head
Log In
Register
U-Know! Forum »
The financial system - it's completely fucked, isn't it?
Log In to post a reply
31 messages
Topic View: Flat | Threaded
stray
stray
2057 posts

Edited Feb 16, 2009, 15:58
Re: Didn't take long...
Feb 16, 2009, 15:57
TheBear wrote:
Check this piece in today's Independent:

"Let's admit that rate cuts will not end the crisis, printing money will":
http://www.independent.co.uk/news/business/comment/stephen-king/stephen-king-lets-admit-that-rate-cuts-will-not-end-the-crisis-printing-money-will-1623071.html

So dropping rates to zero isn't working, how does this help?

I agree stray, this is a momentous paradigm shift. It's going on right now and I fear no one has a clue what to do.

Got seeds? :)


Yes, Yes I have. But said seeds produce combustible and not edible material. However, I believe said combustibles will have a considerably high intrinsic value in these end times.

Quantitative easing and price level targeting eh ? It's 'just-so' story time isn't it ? ;) I don't find his argument compelling, a couple of days of currency trading will fuck that dream right up. Assuming of course that not every single nation prints cash at the same rates, which they won't, so the problem still stands. Also, by inference, to me at least, he's saying the current model of inflation rate targeting caused these problems,...um... er... how ? Either that or he's saying it couldn't have cured or controlled it, which is spot on, it can't of course. Its Mercantilism-lite. The idea that you can do it to let prices rise to a certain level, then stop the presses shows a lack of understanding in how the wider market actually functions imo.

His argument (like all print money arguments really) is something economists can't make and still believe in the 'efficient' free market, so it's good for giggles there. Currency is an arbitrary scale now, and you can even trade futures in it's value (in a fashion), this would cause a mad rush of raw cash trading that would do a lot of harm.

This Stray analysis is made off the top his slightly squiffy head listening to 'Smoke - Another reason to fast' and therefore should not be treated as guarantees of return, nor valid in form, seek second opinions from other financial advisors.

Yep, it's more proof that nobody has a clue what to do.
In reply to:
Didn't take long... (TheBear)
Topic Outline:
U-Know! Forum Index