Agree totally.

Turning on the printing machine means they will take your wealth via inflation. Instead of €1.50 a litre it’s €2.50. Top that up with the uasual austerity measures and it’s double wammy. Banks always win. Fed will counter measure with more printing and drive up commodity prices even more. Creighton, Skearon, Honahan and insider Ireland know this and want this hopium to keep the masses paying. It will fail. Bigtime.

Paul,

Bond purchases can be sterilized to eliminate the inflationary effects. This country does not have wealth – the top 10% are stashing their wealth in tax havens abroad. Ask Bono.

First the call for the currency printing press, then the call to arms.

“The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.”
– Ernest Hemingway

They don’t need to hear it, the vast majority of them have been saying what is needed, unfortunately the Germans are stuck with their historical hatred of inflation and don’t want to listen.

Michael, have you been following the debate?

The “couch experts” as you call them are mostly proposing exactly what the “economic professors the world over” are also saying. Perhaps your couch needs more new reading material?

You have proof he lied, or is that your ignorance speaking?

Also Prof Honohan’s career was as economist and highly regarded educator.

Loner fan don’t display your ignorance…someone might recognise you.

Anal you hide behind the face of a mongrel and dare to describe the learned Head of our Central Bank as incompetent. How dare you. Your daily trolls are as ignorant as they are tiresome.

You cannot resolve a debt crisis with more debt.
You cannot tax a nation out of recession or into properity.
We currently have the idiots leading the blind into the abyss.

“The wavelike movement affecting the economic system, the recurrence of periods of boom which are followed by periods of depression, is the unavoidable outcome of the attempts, repeated again and again, to lower the gross market rate of interest by means of credit expansion.
There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”
Ludwig von Mises (Human Action, p. 572)

The “learned” head of the Irish Central Bank who was one of those ECB members who voted unanimously to raise interest rates last year, much to Ireland’s detriment and at a time when everyone in the real world was clamouring for them to fall.