A heroin addict found a couple of years back that their usual level of heroin intake, which had been working NICE-ly for a decade, was failing to deliver its usual kick.
They then experienced a junkie's crash, and found themselves looking face-up from the gutter.
To get out of this mess, they upped the heroin dosage, picked themselves out of the gutter, crawled onto the pavement, and got on with life again. Friends even said that they detected the 'green shoots' of a return to clean living.
The heroin addict told these same friends that they were now thinking about reducing their daily dosage.
Yeah, right.
2 comments:
And of course it gets worse. The banks themselves will now be obliged to buy gilts supposedly to satisfy the requireement to hold more liquid assets.
When the BofE find they are unable to control inflation and increasing interest rates leave the banks with a very large asset hole as a result of their holdings of low interest bearing long dated gilts, what then?
Will the present banking crisis look like a game of ludo by comparison and who, then, will save the banks?
Anonymous, you might want to try this:
=> http://angloaustria.blogspot.com/2009/10/hyperinflation-or-great-depression.html
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