I sincerely hope that the in the poll BOJ stands for Bank of Jamaica

[pj]

[url=/Poll.aspx?PostIDKey=146252]here[/url]

[granchio]

there is a missing option in that poll: they might all be rational, from a Machiavellian point of view: they are playing to maximise short term utility of their country, not longer term welfare of the aggregate world economy.

Why shouldnt the Fed want to inflate away their massive debt? it's good for the USoA, over the short term. Not so much for foreign debt holders, nor domestic ones over the long run, but hey. The former are not care of the Fed, and the latter... well, that crisis might take decades to unfold... so back to reading "The Prince"

[Cheng]

Remember those words of wisdom ?



US Secretary of the Treasury, John Connolly: "The dollar is our currency but your problem"



The Fed is acting pretty rational these days...

[LongTheta]

I thought the RBA handles things quite responsibly. Australia fared quite well over the past 15 years compared any other industraliazed country.

[AndyM]

The Owl of Minerva flies only at night, LT..

[quantz]

nice quotes

[LongTheta]

AndyM,



That's true but not in the case of the RBA. Australian bankers are omni something or the other. Incredibly far sighted.

[FDAXHunter]

Actually, in my experience they are just lazy, which means they can't even be bothered to take risks, really. That's what saved them in the end.

[LongTheta]

That's not true. The truth is that the RBA is enlightened. You know how when someone reaches enlightenment they no longer desire to have or to do anything anymore? The RBA reached enlightenement about 15 years ago.



Another way to put it is that they do by not-doing. Their efforts are effortless, you think they are not acting, but you look around you and you see an economy that's as evergreen as the indigenous gum trees.

[Cheng]

So you say RBA is practising Taoism ? By not-acting nothing remains unsolved. That's indeed damn close to enlightment.