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You are all wrong. Printing money can halt Europe's crisis.
HAMISH_MCTAVISH
Posts: 28,592 Forumite
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
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Comments
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HAMISH_MCTAVISH wrote: »
No we are all right, you are so wrong because you can't see the big picture. Paper to cover paper willonly make things worse. It will just make the more common man want to get out of paper andinto gold and silver bullion.
Soon the effects of currency abuse and expansion will be felt by everyone. When a factory worker lives on $12000 yr rising food and bills prices are an inconvenience but when a pesant who lives $3000 yr, rising food prices is the difference between life and death.0 -
Hamish attention seeking again.
Trolling with inflammatory phrases like 'you are all wrong'.
Oh dear. The Scots I know are far more pleasant.0 -
Trolling with inflammatory phrases like 'you are all wrong'.
.
Actually, that's the exact title of the Telegraph article.
Which makes your rather sad ad hominem look all the more foolish.
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »Actually, that's the exact title of the Telegraph article.
Which makes your rather sad ad hominem look all the more foolish.
Which proves the point.
The supportive regurgitation of an inflammatory article is in itself inflammatory.
re: the 'ad hominem' attack. In my defense, I hadn't realised you were gay, apologies.0 -
Anyway, lets discuss the article in bit more detail.
AEP claims that.....This is a monetary crisis, caused by a jejune central bank that aborted a fragile recovery by raising rates earlier this year, allowed the money supply to collapse at vertiginous rates in southern Europe, and caused a completely unnecessary recession
So the ECB raising rates in the Eurozone to protect Germany from inflation was a big mistake.
What the ECB should be doing is printing.The crisis can undoubtedly be halted immediately by the ECB. The bank can reflate Club Med off the reefs. It chooses not to act for political reasons because this mean higher inflation for Germany. That is the dirty secret. Everybody must be crucified to keep German internal inflation under 2pc.
So if the Euro fails, the blame lies squarely with Germany......“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »Anyway, lets discuss the article in bit more detail.
AEP claims that.....
So the ECB raising rates in the Eurozone to protect Germany from inflation was a big mistake.
What the ECB should be doing is printing.
So if the Euro fails, the blame lies squarely with Germany......
If you want to debate, I'll give it a go...
It's unfair to blame the country which had it's finances in order for the failures of the others:- the greeks to collect taxes, or for countries carrying out off balance sheet transactions to initially gain entry.
IMHO the euro was doomed to begin with. It requires fiscal union to work.
Printing money would have been another sticky plaster, without the political will for fiscal union, and more central control, the underlying problem would not have been solved.0 -
HAMISH_MCTAVISH wrote: »Actually, that's the exact title of the Telegraph article.
Be careful when ISTL sees then. You should have researched this before using the same title. Apparently.
However, I don't think he'll really care if you have done it
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I have to agree with Hamish here. The behaviour of the ECB has appeared to very strange to me. By prioritising the needs of the Germans over everyone else the whole euro zone is going down the pan and we will all suffer as a result. I don't think a bit of money printing would necessary be a bad thing.0
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Graham_Devon wrote: »Be careful when ISTL sees then. You should have researched this before using the same title. Apparently.
However, I don't think he'll really care if you have done it
What on earth are you rabbiting on about Graham?“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
thescouselander wrote: »I have to agree with Hamish here. The behaviour of the ECB has appeared to very strange to me. By prioritising the needs of the Germans over everyone else the whole euro zone is going down the pan and we will all suffer as a result. I don't think a bit of money printing would necessary be a bad thing.
Germans, finns, dutch amongst others. There's a huge amount of unsustainable debt floating around, which needs to be paid for. Temporarily saving the euro through inflationary policy doesn't stop that. It rewards the indebted countries and punished the prudent countries. Introducing more moral hazard.0
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