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ECB surprises analysts and CUTS interest rate to 0.25%

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Comments

  • purch
    purch Posts: 9,865 Forumite
    ILW wrote: »
    Do they really have any idea what they are doing?

    I am sure you (think you) know more than they do. :T
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • ILW
    ILW Posts: 18,333 Forumite
    purch wrote: »
    I am sure you (think you) know more than they do. :T
    Doubt if many "amateurs" would have screwed it up as badly as the "experts" have.

    Ideas such as "best not to spend too much more then you are earning" seem totally alien to the people that made the decisions in the past and are still making them now.
  • grizzly1911
    grizzly1911 Posts: 9,965 Forumite
    ILW wrote: »
    Doubt if many "amateurs" would have screwed it up as badly as the "experts" have.

    Ideas such as "best not to spend too much more then you are earning" seem totally alien to the people that made the decisions in the past and are still making them now.

    Unfortunately without ever growing debt the model doesn't work.

    I think it is called an Achilles Heel
    "If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....

    "big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
  • AndyGuil
    AndyGuil Posts: 1,668 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    ILW wrote: »
    Doubt if many "amateurs" would have screwed it up as badly as the "experts" have.

    Ideas such as "best not to spend too much more then you are earning" seem totally alien to the people that made the decisions in the past and are still making them now.
    Arguably they are the amateurs.
  • Loughton_Monkey
    Loughton_Monkey Posts: 8,913 Forumite
    Part of the Furniture Combo Breaker Hung up my suit!
    I sincerely hope that this action will reflect itself in lower prices for the Beaujolais Run on November 21st.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    wotsthat wrote: »
    I think deflation is becoming a real risk in the Eurozone and whilst .25% is !!!!!! all it's a sign of panic setting in.

    No panic. More a sign of how bad things are. Inflation below 1% same level as Japan. Banks in particular are going to be squeezed next year.
  • ILW
    ILW Posts: 18,333 Forumite
    AndyGuil wrote: »
    Arguably they are the amateurs.
    They are paid a fortune.
  • grizzly1911
    grizzly1911 Posts: 9,965 Forumite
    ILW wrote: »
    They are paid a fortune.

    A lot of "experts" are.

    Funnily enough because they are (experts in general) paid a lot and many have PI insurance, people accept their word as gospel.

    Which is even more peculiar when some of them they are in effect regulated salesmen.

    There are of course other experts who do provide valuable advice.
    "If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....

    "big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    ILW wrote: »
    Do they really have any idea what they are doing?
    It always amuses me to see the armchair economists on an Internet forum think that they know better than economists with much more information and experience.
  • ILW
    ILW Posts: 18,333 Forumite
    chucky wrote: »
    It always amuses me to see the armchair economists on an Internet forum think that they know better than economists with much more information and experience.

    Which is debateable when you can have two equally experienced economists with totally opposite views on how to solve a problem.

    If these people were so useful, why do recessions ever happen?
This discussion has been closed.
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