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Gammel 17th March 2008, 01:07 PM
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Standard Deleveraging drive as banks chase debts

BBC NEWS | Business | Deleveraging drive as banks chase debts

The most powerful economic force in the world right now is what bankers call "deleveraging".

Citer:
And what about central banks' new willingness to allow banks to swap financial assets of dubious value for hard cash or liquid government bonds?

Well that may have encouraged lenders to seize dodgy assets from borrowers that are in trouble in order to dump them on a central bank like the New York Fed.

In other words, central banks may inadvertently be accelerating that fateful deleveraging process.

Worse still, perhaps, the cost of longer-term loans is being pushed up, because lenders and investors believe the Fed is devaluing the dollar and stoking up inflation.

As the distinguished economist Joseph Stiglitz has observed, much of central banks' evasive action looks as effective as pushing on a piece of string.

Det er ECB der er på rette spor, og selvom de har dummet sig et par gange tror jeg ikke de gør det igen. ECB skal holde renten hvor den er, eller om nødvendigt hæve den.
Hvis FED piver over devalueret dollars og høje olie priser så må de hæve renten og trække milliarder af nye dollars ud af markedet igen.
De dele af finansverdnen som ikke kan klare sig må lukke og slukke, alt andet er uholdbart.
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