http://blogs.telegraph.co.uk/ambrose_evans-pritchard/blog/2008/07/02/will_trichet_drive_the_world_over_a_cliff
Has there ever been a really potentially disasterous financial period like
this one? I'll answer my own question - there hasn't. We are in a
new world where no one has any worthwhile experience to offer. The
Saudis
say the price of oil is too high because the Dollar has lost its value,
Wall
Street says that Dollar has lost its value because oil is too high. The
Federal Bank wants the ECB to radically lower its interest rate in order
to
bring the value of the Euro in line with the Dollar. The ECB says that
lowering rates would encourage inflation. It's so easy to criticise all
parties but rather more difficult to suggest solutions. Frankly
having
endued the Thatcher induced hyper inflation of the 80s inflation doesn't
worry me that much (In fact I did very well out of it). I'd rather
have
that then the ludicrous over inflated value of the Euro which will bring
Europe to its knees as well as the US.
