Am I Charlie? (Part 1)
Writing isn’t hard work,
it’s a nightmare.
– Philip Roth
Writing isn’t hard work,
it’s a nightmare.
– Philip Roth
If the economy is growing at a mere 2 per cent [seven
In my last post I acknowledged that there is a difference of opinion about whether the US Fed’s unconventional monetary policies were the best the Fed could do under the circumstances, or whether the Fed is itself the cause of the long, slow recovery from the 2008 Financial Crisis.
In my last post I pointed out that an obscure action by a small central bank had caused huge reverberations around the world. Swiss stocks were trashed, Polish mortgagees found the burdens of paying off their mortgages suddenly much heavier, Denmark had to drop its interest rates three times (now four times, into seriously negative territory) in an attempt to maintain its peg to the euro. Since that post appeared, currency speculators have attacked other nations, prominently including the UAE.(1)