-
Ironisch Bundesbank lessons
A grainy picture of some central bankers. A warning in German that “it is immensely amateurish to renounce this mechanism.” The central bank is the Bundesbank, in 1975. The “mechanism” is purchases of government bonds to bring down interest rates, after the standard central bank tools stopped working that year. Indeed the Bundesbank bought up bonds to the tune of 1 per cent of German GDP. No wonder the history’s being used to attack the modern Bundesbank’s resistance to bond-buying, or even eventual quantitative easing, by the ECB in 2012. The analogy has jumped from German economist Peter Bofinger, to ... (full story)
- Comments
- Subscribe
- Comment #1
- Quote
- Aug 7, 2012 5:16pm Aug 7, 2012 5:16pm
- Guest
- | IP XX.XX.14.146
- Comment #2
- Quote
- Aug 7, 2012 6:01pm Aug 7, 2012 6:01pm
-
foto
- | Membership Revoked | Joined Jan 2007 | 2684 Comments
- Comment #3
- Quote
- Aug 7, 2012 6:30pm Aug 7, 2012 6:30pm
-
foto
- | Membership Revoked | Joined Jan 2007 | 2684 Comments
- Comment #4
- Quote
- Aug 7, 2012 7:08pm Aug 7, 2012 7:08pm
- VittorioJoos
- | Joined Feb 2010 | Status: Member | 13 Comments