BOE’s Bean: More easing may be necessary; Regulation, not monetary policy to ward off boom/bust
August 28th, 2010
| Tags: Bean, BOE’s, boom/bust, Easing, Monetary, more, necessary, Policy, Regulation, ward
Speaking at Jackson Hole, BOE deputy governor Bean said more monetary policy easing may yet bee needed.
Avoiding future crises in the credit markets will require central bankers and regulators to rely more on regulation than merely on monetary policy, Bean said.
The BOE is replacing the Financial Services Authority as the primary bank regulator in the UK…
In other words, the biggest threat to ‘the system’ is the big boys pulling yet another multi-trillion dollar bailout scam. It’s too bad that the middle class are clueless sheep: before it was create smokescreens, divide and conquer by playing races against each other while they looted the system (and fleeced taxpayers). Now its cry havoc and let the dogs of holy wars distract the people…
Gordon Gekko: The richest one percent of this country owns half our country’s wealth, five trillion dollars. One third of that comes from hard work, two thirds comes from inheritance, interest on interest accumulating to widows and idiot sons and what I do, stock and real estate speculation. It’s bullshit. You got ninety percent of the American public out there with little or no net worth. I create nothing. I own. We make the rules, pal. The news, war, peace, famine, upheaval, the price per paper clip. We pick that rabbit out of the hat while everybody sits out there wondering how the hell we did it. Now you’re not naive enough to think we’re living in a democracy, are you buddy? It’s the free market. And you’re a part of it. You’ve got that killer instinct. Stick around pal, I’ve still got a lot to teach you.
Carl Fox: The rich been doing it to the poor since the beginning of time. The only difference between the Pyramids and the Empire State Building is the Egyptians didn’t allow unions.