Re: [A-List] European Central Banker Says Inflation Is Still Focus

[Michael Hudson <michael.hudson@xxxxxxxxxxxxx>]

This is hilarious. Yoshie.
    We all that the talk of Davos is how the plunge protection team is to
SUPPORT asset prices to keep the bubble economy afloat.
    I guess asset prices are not the inflation they worry about. They want
to keep the price of stocks, bonds and real estate high against labor's
take-home wages.
    Michael Hudson 


On 1/24/08 8:23 AM, "Néstor Gorojovsky" <nmgoro@xxxxxxxxx> wrote:

> 2008/1/24, Yoshie Furuhashi <critical.montages@xxxxxxxxx>:
> Lack of
> coordination among the power elites of the empire this time? -- Yoshie
>
>
> <http://www.nytimes.com/2008/01/24/business/worldbusiness/24euro.html>
>
> January 24, 2008
> European Central Banker Says Inflation Is Still Focus
> By
> CARTER DOUGHERTY
>
> DAVOS, Switzerland ? The president of the European
> Central Bank
> gave a
> full-throated defense Wednesday of the bank's
> determination to fight
> inflation, quashing hopes ? at least for now ? that
> it might follow
> the United States Federal Reserve in cutting interest rates
> to contain
> an economic slowdown.

Maybe not just "lack of coordination",
> Yoshie.

Maybe the European élite feels strong enough to bargain a New
> New
Order by undermining dollar hegemony. Of course, I am just suggesting
an
> alternative explanation. My suggestion, I admit, is quite
groundless, since I
> am not exploring the issue in depth. But maybe
someone on the list might feel
> interested in this exploration, which
would open up a wholly new set of
> practical possibilities of
development for the current crisis. Perhaps Henry
> Liu would have
something to say. Mark Jones, I am sure, would have had. Where
> are
you, Mark, when we need you most? Wherever he is, I am sure he must
> be
rolling on the floor in laughter, tears in his eyes.

President Cristina
> Kirchner, that is a Latin American national
bourgeois, ironized on a speech
> yesterday that in the same manner the
neoliberal gurus labelled the "Argie"
> crisis of the early 2000s "Tango
Effect", and the earlier "Mexican" and
> "Brazilian" ones during the 90s
were labeled "Tequila" and "Caipirinha"
> effects, we might now speak of
the "Jazz Effect".

If our own radicalized
> bourgeois politicians can coin such an idea,
what may the UE élite be thinking
> about?