Friday, June 01, 2012

No Wiggle Room

We are currently ruled by central bankers who aren't just aiming for 2% inflation, which by now we should know is too low (both at the moment and longer term), they think 2% inflation is too high.

The reasons are different in Europe, but here part of the explanation is because a Kenyan Muslim Socialist Democrat is in the White House. If George Bush and a Republican Congress were in charge, they'd be stepping on the gas, and the ex-Maestro would be on the teevee explaining why we don't need to be worrying about high interest rates when we have record low interest rtes.