It's worse. They are already up in arms as their incomes have been squeezed and as they turn off the heating in an attempt to save on energy bills. If they really knew what the scale of the problem was the financial system would have collapsed long ago. We are in a grace period for those in power. We put trust and faith in our central bankers and elected officials. We hope that they know what they're doing.
That hope is misplaced. We need to get back on our own two feet first.
Yes. At least Trichet had the decency to explain how the monetary aggregates were changing in Europe. This really goes back to the mindset that was popular about 3 decades ago when central banks and governments around the world decided to stop targeting the money supply and instead focus exclusively on prices (and worse on the method of price indices to hide the effects of inflation).
Not a single person in the world knows what the word inflation means... if they did, we would all be up in arms.
MrPiestrak 3 months ago
@MrPiestrak
It's worse. They are already up in arms as their incomes have been squeezed and as they turn off the heating in an attempt to save on energy bills. If they really knew what the scale of the problem was the financial system would have collapsed long ago. We are in a grace period for those in power. We put trust and faith in our central bankers and elected officials. We hope that they know what they're doing.
That hope is misplaced. We need to get back on our own two feet first.
MrNChoudhury 2 months ago
Raising prices? Mr Bernanke forgot to tell you that it is because the money supply is increasing...
sweYoda2 5 months ago
@sweYoda2
Yes. At least Trichet had the decency to explain how the monetary aggregates were changing in Europe. This really goes back to the mindset that was popular about 3 decades ago when central banks and governments around the world decided to stop targeting the money supply and instead focus exclusively on prices (and worse on the method of price indices to hide the effects of inflation).
MrNChoudhury 5 months ago