"How can I know what I think until I read what I write?" – Henry James


There are a few lone voices willing to utter heresy. I am an avid follower of Ilusion Monetaria, a blog by ex-Bank of Spain economist (and monetarist) Miguel Navascues here.
Dr Navascues calls a spade a spade. He exhorts Spain to break free of EMU oppression immediately. (Ambrose Evans-Pritchard)

domingo, 16 de septiembre de 2012

La frase decisiva de Bernanke

Según Gavyn Davies, Bernanke ha dado un giro sustancial a su política. Hasta ahora, de los dos mandatos que tiene (empleo y precios) parecía poner mas énfasis en el segundo. Ahora ha cambiado de "palanca". Por qué?

Según Davies, la razón está en este párrafo de Bernanke de la conferencia de prensa posterior a la decisión.

The weak job market should concern every American. High unemployment imposes hardship on millions of people, and it entails a tremendous waste of human skills and talents. Five million Americans have been unemployed for more than six months, and millions more have left the labor force--many of them doubtless because they have given up on finding suitable work. As the skills of the long-term unemployed atrophy and as their connections to the labor market wither, they may find it increasingly difficult to get good jobs, to their and their families’ cost, of course, but also to the detriment of our nation’s productive potential.
Lo pongo para que lo lean atentamente y luego comparen con nuestra situación laboral. Si a él le preocupa que haya gente que lleve seis meses en paro...

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