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Activist Central Bankers???

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posted on May, 5 2005 @ 08:10 AM
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Original Sin - Morgan Stanley Global Economic Team

www.forexrate.co.uk...

By Stephen Roach, In all my years in this business, never before have I seen...

... a central bank attempt to spin the debate as America's Federal Reserve has over the past six or seven years. From the New Paradigm mantra of the late 1990s to today's new theories of the current-account adjustment, the US central bank has led the charge in attempting to rewrite conventional macroeconomics and in making an effort to convince market participants of the wisdom of its revisionist theories. The problem is that this recasting of macro is very self-serving. It is a concentrated effort on the part of the Fed to exonerate itself from the Original Sin of failing to address asset bubbles. The result is an ever- deepening moral hazard dilemma that poses grave threats to financial markets.

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acivist judges, activist bankers, gee, maybe we should fire the politicians, and get politics our of our lives!!!

This article gives a good view of just how "free" our economy is...and how much they are juggling it now to keep it afloat.
or at least I think it does....

maybe some will come in and start discussing it, and well, fill in some of the blanks, since, I reallly didn't understand it all.




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