Monday, March 9, 2009

ECB Head Jean-Claude Trichet Didn't Get the "Be A Fearmonger" Memo

The global economy is "approaching" a pick-up point as positive elements that could fuel growth have yet to be priced in, G10 central bankers said Monday.

"We have a number of elements that are suggesting that we are approaching the moment where you would have a pick up," European Central Bank head Jean-Claude Trichet said in his capacity as spokesman for the G10 central bankers.

This is the way government officials used to talk during a recession, before they realized they could expand the state by fearmongering.

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