Ambrose Evans-Pritchard Apologises for Being Wrong on QE and Stimulus Spending

The Oracle ^ | 28 September, 2010 | Nadeem Walayat

[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."

[Errant]

I agree it’s probably too late to do anything about it at a national level. This will probably play out in a very predictable way, as history has shown.

[vox_freedom]

As soon as I hit the "post" button I saw that html burp, but it was too late!
Thanks for noticing, and back at ya:

Not they you seem to be the type...

:-)

[Errant]

Yea, I noticed I screwed that one up... Too bad you can’t correct a post post...