History Repeats its Financial Self
William Rees-Mogg, Times Online | September 22, 2008
Historically, reformers have always tried to stabilize activity through control of interest rates and money supply, but these are not consistently correlated. ++ The current crisis was foreseeable; booms cannot be eternal. ++ The world's central bankers should first save the system. ++ Many want to raise the expansion rate as soon as possible, but the US election may make stabilization unfeasible. ++ The US was overconfident and created fake bonuses. ++ However, Europe and Britain understand inflation and are much more careful.
Tags: | banking crisis |
US market crisis |
Bank of England |
US economy |
European Central Bank |
financial reform |
