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More Thoughts on the Economy Part XIV

By Andy Shaw | January 25, 2010

Originally posted 24th February 2009

The ECB Is Further Behind The Curve Than Almost Anyone Is Realising

I’m going to cover how and why what hasn’t yet happened in this crisis is actually a lot worse than what has and why the epicentre for it is not going to be the US and will actually be Europe.

The ECB doesn’t have a central treasury as we do in the UK or as the Americans do and this could bring about a big earthquake. Having a central treasury means that we can make the decision to print money. Now in good times you can look at not being able to print money as a good thing, but when it all goes pear-shaped it is a very bad thing as simply put, ‘They Cannot Act’.

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Topics: Government, The Economy | Comments Off

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