BABYLON BE THY NAME

yo!..suckers...innit!

PALOOKAVILLE FINANCIAL

capitulation day+342

...the story so far...

nouriel : ..."In the last few months the world economy has been saved from a near depression...

...That feat has been achieved by a range of extraordinary government stimulus measures...

In the U.S. and in China, and to a lesser extent in Europe, Japan and other countries...

...governments have pumped liquidity...

...slashed policy rates...

...cut taxes...

...primed demand...

... and ring-fenced and back-stopped the financial system...

All of this has worked...

...but it has worked at a cost...

Governments have been spending and borrowing like never before...

...The question now is: how do they stop?

...This is not a simple problem...

...Restore normality too soon...

...and the risk is that a weak recovery will double dip into a second and deeper recession...

...Restore it too late and inflation will already be ingrained"...

PAINT AT THE END OF THE TUNNEL

petey :

...here in ...

...palookagrad...

...we are...

...uncertain...

...we would have been much happier...

...if the politix...

...had let the markets sort out the mess...

...but...

...vested interest...

...has stolen the day...

THE ONLY GAME IN TOWN

...yes the game is fixed...

...and yes you have to play...

...just don't be under any illusions...

...about efficient markets...

...or best advice...

...or rules...

...or solvency...

...smoke and mirrors...

...shifting sands...

...moving goal posts...

...it's economics jim!..

...but not as we knew it...