Eurozone sentences to ponder

by on January 3, 2012 at 10:13 am in Economics | Permalink

Put another way, there are not enough creditworthy counterparties in the system to encourage any sort of money multiplication effect at all.

That is Izabella Kaminska, there is much more at the link.

1 david January 3, 2012 at 10:22 am

full reserve banking go!

2 Bill January 3, 2012 at 10:28 am

Looks like the ECB will be increasing the money supply.

Also, VOX had a piece on how, instead of looking Bernanke’s savings glut, what we may have had is overleveraging of financial institutions which created the sloshing supply of credit. Reducing leverage will be reducing the money supply, or its equivalents.

Will be interesting to see what the ECB does.

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4 Sammler January 3, 2012 at 11:23 am

Does it not follow that the best policy for the Eurozone is extremely stringent anti-Keynesian austerity? Every argument in favor of stimulus applies here, only in reverse.

5 david January 3, 2012 at 8:23 pm

No, this is contractionary.

6 Yancey Ward January 4, 2012 at 1:55 am

Contractionary for who?

7 Yancey Ward January 3, 2012 at 11:26 am

Invest in giant vaults.

8 Merijn Knibbe January 3, 2012 at 11:54 am

To hard to resist:

Wouldn’t mr. P.K. call this: “The mother of all liquidity traps”?

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