Trichet on EU Crisis

Discussion in 'Wall St. News' started by antelope, Aug 30, 2011.

  1. TRICHET 2008

    just before lehman went bust.

    ' there is no credit crunch in europe '

    french tosser
  2. zdreg


  3. You are right, I listened to the video again and indeed he says prudent, but in such a low tone of voice that I mis-heard.
  4. C6H12O6


    If you're looking for real incompetence, you should look at the german Bundesbank
  5. zdreg


  6. C6H12O6


    ? ?

    The Bundesbank didn't complain during the past years when M3 was exploding, growing 10%/year and people and businesses were getting deeper in debt, and german banks were busy profiting from it.
    They didn't complain when a housing bubble was spreading in Europe, because Germany was exporting in Europe and balancing the budget.
    They are complaining now about "inflation" and "sound money", now that monetary aggregates are shrinking and we are in deflation.
    Is this enough ?

    BTW, now the ECB staff is "reassessing inflation risk"
    Maybe the geniuses in Frankfurt will lower rates next.
    Why ? Because German growth is now slowing close to a recession ?