There is NO one more dangerous than the French when it comes to economics! French Finance minister Lagarde this morning: '...I certainly have a preference for temporarily higher inflation and higher growth' - (link: http://tinyurl.com/yucfgp)
Pretty shocking news! It seems she has forgotten the impact INFLATION has on future planning and the erosion of values - it also runs totally "contraire" to her compatriot in the ECB Mr. Trichet's mantra and it's VERY BAD news for Europe, but unfortunately its what we can expect from Europe. A group of nations with old people and old ideas!
Also in the news; Moody's given up on tracking risk! Pretty brave for them to admit that ANY systematic approach to risk falls short due to financial systems complexity - and indirectly the sheer size of banks today. In other words; Ratings will have even less importance going forward than now, and will be flawed - Conclusion: Volatility should risk on this (link: http://tinyurl.com/37jppk)
Run for the hills! Its Record High Household Borrowing (again) - The Imaginary Debt Crisis Is Here to Stay Household borrowing has reached new records. Big deal. Personal income has grown much more. Bloomberg, August 1...
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