Mark Carney : Snake Oil Salesman
By Jim Cotton
ManitobaPost.com
Oh, the crap is about to hit the fan. Today , the Bank of Canada outlined some of it's plans to boost the economy , and it is very alarming for anyone who knows anything about economics. First, rest of article here
Thursday, April 23, 2009
Manitoba Post.com: Mark Carney : Snake Oil Salesman
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4 comments:
I could not believe Carney's answer to the one question that was allowed at the press conference. When asked if the BoC was going to print money he replied they don't print it, its an electronic transaction. There are many better answers he could have given, like it depends on the central banks balance sheet etc, not some smart ass juvenile answer.
Now we don't even get paper money, just some bits and bytes on a computer disk. I feel so much more secure now!!
Good article by Mr. Cotton
Harry
Oh oh---is it possible that the Bank of Canada & it`s boss Mark Carney don`t have a clue---could they be in way over their head.
Debt is what killed us in the first place so how in blazes will enhancing debt levels work to anything more than temporary help--will this not come back to bite us during the next downturn but about 10X worse.
Maybe I am an idiot , but maybe not.
Dr Mike
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