Tuesday, June 17, 2008

Apologies

I've re-read my latest rants and I must apologize for the lack of any real good information recently. I've been swamped and haven't had time to pull together some good pieces, so I've been just venting recently. There really is a tremendous amount going on right now (not good for sure) and this is a fascinating time. Pay very close attention to the EU and the ECB. They are taking an almost polar opposite route that Bernanke and the Fed are and it's not good to have dueling central banks. There was a crisis in Europe in the 90's the last time this scenario played out. You're also seeing a significant amount of discontent within the EU ranks as far as the correct policies. The EU is getting close to a potential crisis of faith with the ECB. You're seeing this within the Fed as well with open dissent from other fed leaders. This almost never happened publicly with Greenspan and Bernanke is on thin ice. Central banks are just guessing at this point and in reality they have no clue as to what is the right course. They've put themselves into this box through their relentless fudging of statistics and misguided policy statements. A nasty web they've weaved indeed.

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