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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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To: Republic of Texas

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.


21 posted on 09/28/2010 1:30:23 PM PDT by Errant
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To: Errant
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...

:-)

22 posted on 09/28/2010 3:29:33 PM 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

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


23 posted on 09/28/2010 3:32:17 PM PDT by Errant
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