Word: inflationitis
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In Europe, “two percent” means more than a healthy content of milk fat in morning cappuccinos. It is the target rate of yearly inflation mandated by the conservative European Central Bank (ECB). The Bank believes that this end justifies any means.
Soon enough, three of Europe’s largest economies may be lobbying the ECB to effectively behave more like the American Federal Reserve. After all, since the beginning of the write-down debacle in Wall Street, renowned Great Depression scholar and Fed Chairman Ben S. Bernanke ?...
At first, and especially if we contrast it with the short-term outlook of the Fed’s recent movements, this seems ridiculous. Why not allow looser standards, drop the two percent inflation goal, inject further liquidity, and appease both bankers worried about profits and politicians losing sleep over...
The awakening from these Beijing dreams was as rude as it gets. As of April 15, the Shanghai Composite Index has slumped 46% from its Oct. 16 peak. The global credit crunch, the staggering U.S. economy, and China's efforts to tame inflation and cool unsustainably fast economic growth teamed...
It may not comfort those burned by China shares, but our survey showed that markets in seven out of the eight countries posted gains during the year after the Olympics. (The big loser was Germany, where stocks fell 26%, while South Korea gained less than 1%). "Hopefully at some point...