Bet you will never see that on the front page of the New York Times…mass pandemonium would break out! From the London Telegraph, and interesting piece on how they see our economy:
The verdict is in. The Fed’s emergency rate cuts in January have failed to halt the downward spiral towards a full-blown debt deflation. Much more drastic action will be needed…As the once unthinkable unfolds, the leaders of global finance dither. The Europeans are frozen in the headlights: trembling before a false inflation; cowed by an atavistic Bundesbank; waiting passively for the Atlantic storm to hit.
So to you money professionals out there, what do you think? I am no economist, but I find it a little frightening that most other countries seem to be more concerned about our economy than our own government is. Bush said the other day that our economy is “robust”…where does he get his information from?