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Ambrose Evans-Pritchard Apologises for Being Wrong on QE and Stimulus Spending
The Oracle ^ | 28 September, 2010 | Nadeem Walayat

Posted on 09/28/2010 10:46:51 AM PDT by Errant

Ambrose Evans-Pritchard the head economic poncho at the Telegraph now nearly 2 years from starting his mantra of deficit spending stimulus to prevent a debt deleveraging deflationary depression turns around and says that he has been wrong all along, that central banks such as the US Fed are focused on creating inflation rather than preventing deflation...

"I apologise to readers around the world for having defended the emergency stimulus policies of the US Federal Reserve, and for arguing like an imbecile naif that the Fed would not succumb to drug addiction, political abuse, and mad intoxicated debauchery, once it began taking its first shots of quantitative easing."

(Excerpt) Read more at marketoracle.co.uk ...


TOPICS: Business/Economy; Culture/Society; Foreign Affairs; Government
KEYWORDS: centralbanks; economic; qe; stimulas
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1 posted on 09/28/2010 10:46:58 AM PDT by Errant
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To: Errant

Dr Doom and gloom wrong? Never!


2 posted on 09/28/2010 10:49:19 AM PDT by Perdogg (Nancy Pelosi did more damage to America on 03/21 than Al Qaeda did on 09/11)
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To: Errant

Why is he bringing the Queen in on this?


3 posted on 09/28/2010 11:01:20 AM PDT by AU72
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To: Errant
the head economic poncho

Someone needs to bone up on their slang.

4 posted on 09/28/2010 11:01:20 AM PDT by dirtboy
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To: Errant

poncho?........... You mean HONCHO?.......

5 posted on 09/28/2010 11:04:58 AM PDT by Red Badger (No, Obama's not the Antichrist. But he does have him in his MY FAVES.............)
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To: dirtboy

Someone needs to bone up on their JAPANESE.........


6 posted on 09/28/2010 11:07:47 AM PDT by Red Badger (No, Obama's not the Antichrist. But he does have him in his MY FAVES.............)
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To: dirtboy

Poncho Wearing Man Robs Dublin Bank (FBI).

There's your connection between banking and ponchos!

7 posted on 09/28/2010 11:07:55 AM PDT by Cicero (Marcus Tullius.)
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To: Perdogg

From:
http://preview.tinyurl.com/2cmr9k5

I apologise to readers around the world for having defended the emergency stimulus policies of the US Federal Reserve, and for arguing like an imbecile naif that the Fed would not succumb to drug addiction, political abuse, and mad intoxicated debauchery, once it began taking its first shots of quantitative easing.


8 posted on 09/28/2010 11:10:04 AM PDT by preacher (A government which robs from Peter to pay Paul will always have the support of Paul.)
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To: Red Badger; dirtboy

I suppose Ambrose isn’t the only “naif”.


9 posted on 09/28/2010 11:15:03 AM PDT by Errant
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To: Errant

Ah, the powers of redemption — for being a self-described “imbecile.”>br>
For your penance, you must publish correct, informed, and truthful viewpoints for the next two years or until Obama and Co. are out of office, whichever happens sooner.


10 posted on 09/28/2010 11:32:13 AM PDT by vox_freedom (America is being tested as never before in its history. May God help us.)
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To: vox_freedom
And your penance (">br>")?

Not they you seem to be the type to admit to being an “imbecile” on occasion...

11 posted on 09/28/2010 11:46:52 AM PDT by Errant
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To: Red Badger

First translate it into Japanese, then back into English.


12 posted on 09/28/2010 12:16:30 PM PDT by sportutegrl
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To: Errant

At least he apologized and admitted he was wrong. Krugman is doing the opposite - he is doubling down on failure.


13 posted on 09/28/2010 12:22:20 PM PDT by KC_Conspirator
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To: Errant

the head economic poncho ???


14 posted on 09/28/2010 12:23:19 PM PDT by DontTreadOnMe2009 (So stop treading on me already!)
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To: DontTreadOnMe2009
the head economic poncho ???

Like something you would wear at a Gallagher performance.

Warning: The front dozen rows of Ben Bernanke's Cash Explosion may be sprayed with green printer's ink.

15 posted on 09/28/2010 12:36:08 PM PDT by KarlInOhio (Grblb blabt unt mipt speeb!! Oot piffoo blaboo...)
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To: KC_Conspirator
At least he apologized and admitted he was wrong

Yes, but was that some kind of caveat at the end? I'll try to read original source again later and slower.

16 posted on 09/28/2010 12:40:30 PM PDT by Errant
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To: DontTreadOnMe2009
Obviously the author (Nadeem Walayat) intended to use the word "Honcho".

Too bad, as it seems the message was lost for some...

17 posted on 09/28/2010 12:46:20 PM PDT by Errant
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To: Errant

For FREEPERS who were not politically aware during the Clinton administration, you need to Google:

Ambrose Evans-Pritchard waco

Ambrose Evans-Pritchard Okalhoma City

The Secret Life of Bill Clinton

Evans-Prichard was the ONLY reliable source of truth during the Clinton administration.


18 posted on 09/28/2010 1:09:39 PM PDT by A. Patriot (CZ 52's ROCK)
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To: A. Patriot
I'd just like to say that I like Ambrose a lot. I find him to be very accurate. Like all of us, he is not infallible. So he gave the FEDs the benefit of the doubt and figured the Fed would not succumb to QE pressures.

His admission of being wrong means "we're in serious trouble gang", but most of us already knew that.

19 posted on 09/28/2010 1:18:50 PM PDT by Errant
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To: Errant

Nothing more useless than someone who admits they are wrong, only after it’s too late to do anything about it.


20 posted on 09/28/2010 1:21:36 PM PDT by Republic of Texas (Socialism Always Fails)
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