Saturday, July 28, 2012

Krugman Spots a Phony Inflationist

Paul Krugman is, as ever, an inflationist, so he is pretty good at spotting a phony inflationist. He writes about European Central Bank president Mario Draghi:
... he hasn’t done anything, at least yet. But it’s now widely hoped that the ECB will start buying government bonds (although it’s not at all clear whether the Germans will allow this, particularly on a sufficient scale); this has caused a significant decline in Spanish interest rates from their peak....This still looks unworkable.

No comments:

Post a Comment